Boost Your Marketing Impact with the Power of Value
Understanding and communicating the unique value your business provides can maximize your marketing impact at all stages of the customer journey. In fact, companies who clearly understand and share the value they deliver have a greater chance of reaching new, untapped customers and markets. And as prospects become customers, the value you measure and communicate can generate additional revenue through deepening that relationship and turning existing customers into your advocates and sales ambassadors. Our “How to Maximize Marketing Impact with Customer Value Management” white paper explores all the opportunities.
Using value to reach new prospects
The competition for customers in today’s marketplace is fierce, but the pool is larger than you may think. When you bring value to the forefront, you won’t limit your marketing efforts to prospects who are already actively looking for a new product. The focus can be higher up the sales funnel – or even before your funnel typically starts.
From speaking engagements to social media, to interest communities, sharing your expertise (a.k.a. your value) with target personas builds relationships and credibility. By anchoring what you share in customer value, you can position your organization as a trusted advisor from the outset.
For example, in April 2020, one DecisionLink client launched a sophisticated web-based calculator that enabled visitors to their website to estimate the economic results they could achieve with the client’s solutions. In three months, the value calculator created approximately $140 million in the pipeline.
How value captures untapped revenues
Acquiring a new customer is only the start. In a subscription economy, an initial sale represents 2 – 5% of the lifetime revenue a customer can generate. Customer Value Management leads to increased revenue through renewals, upsells, cross-sells, and organic growth. Demonstrating the quantifiable economic value they’ve realized to your customer makes this long-tail significantly more feasible.
This blog shares how companies that effectively operationalize Customer Value Management can capture the 95 – 98 % of revenues untapped at the point of initial sale. Measuring and tracking customer value is essential for maximizing the long-term financial potential of every customer.
Turning customers into advocates
Effective Customer Value Management also boosts your marketing impact by making your customers part of your sales team. When your customers are clear on the complete value delivered by your products and services, they can serve as ambassadors for your brand, whether by targeting industry-specific communities, providing new referrals, or creating a customer advisory board.
By ensuring customers are clear on the complete value delivered by your products and services, they become one of your most effective marketing tools. Unleashing your customer advocates in emerging channels can magnify your impact and establish your brand before competitors have a chance to establish themselves.
Putting value at marketers’ fingertips
The key to success at each part of the customer journey is the ability to communicate value to your prospects and customers. ValueCloud®, our Customer Value Management platform, gives organizations the power to make value an essential component of their marketing strategy. With the ability to proactively monitor and track value, quantify that value in meaningful measures, and leverage that value, ValueCloud® makes this powerful marketing ingredient infinitely more accessible. And when customers are clear on value potential at every step of the relationship – whether prospects, early-stage customers, or long-standing loyalists – they will be able to see and achieve their business goals and promote yours, as well.