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Cincinnati, OH. (January 5, 2011)—Business-to-business organizations realize that the majority of their new sales come from existing customers. Yet, with only half of those polled having a department whose primary focus is loyalty, the need to integrate customer retention into a company’s business strategy is apparent, according to “Customer Loyalty Techniques For Business-to-Business Marketing Programs,” a new white paper issued by Loyalty 360 – The Loyalty Marketer’s Association and SAS.
This must-read white paper uncovers the keys to building and delivering successful customer experiences in B2B marketing. (http://www.loyalty360.org/white_papers/sas_loyalty360/) Based on a proprietary survey of customer loyalty and retention executives from a cross section of B2B industries, Loyalty 360 and SAS set out to answer two critical questions: (1) How are B2B companies becoming successful in customer loyalty and retention campaigns? (2) How are they aligning their marketing programs to customer lifecycles and voice of the customer programs?
For years, customer loyalty was clearly a sales and account management function guided by a belief that any program would drive incremental sales growth and retention,” says Mark Johnson, CEO of Loyalty 360. “Recently, we’ve seen a surge of dedicated marketing support for customer retention efforts within B2B organizations. These organizations are realizing that because the insights derived from loyalty programs impact the C-Suite, it is important to be accountable to and cognizant of the respective needs of these stakeholders. Data, integrity, insight, and constant monitoring of these programs are necessary for continued success.
Adds Stacy Hobson, Direction of Customer Loyalty at SAS, “While B2B marketing seems to be behind, we found that they are following B2C’s lead and moving in the right direction——looking not only to retain customers but working to build advocacy as well.”
Overall, the research found that:
· B2B organizations are beginning to take a closer, more strategic look at customer loyalty initiatives and gaining a clearer understanding of the proven value a customer retention department could mean to their business and their bottom line.
· A vast majority (93.9%) of B2B companies with a loyalty departments report there was senior level executive support for creating such a department—- the high-level support that is imperative for the launch, commitment and long-term success of these programs.
· B2B companies with customer loyalty departments use the myriad opportunities available to them to listen and respond to their customers. They align their voice of the customer program with their customer lifecycle, and they have metrics in place to measure the success of their retention efforts.
· With the trend to dedicate more resources to customer loyalty, B2B marketers are utilizing more sophisticated metrics to gauge the effectiveness of their marketing retention programs.
· A significant amount of B2B companies without a program are planning to launch one in the future. And when they start this journey, they will do so with the strong support from the C-Suite.
“Loyalty is a journey, not a destination. As our research confirmed, B2B companies that forsake a loyalty program now will be further behind in their respective journey to customer understanding, engagement, advocacy and increased share of wallet,” says Johnson.
To download a complimentary copy of “Customer Loyalty Techniques For Business-to-Business Marketing Programs,” please visit http://www.loyalty360.org/white_papers/sas_loyalty360/
The important findings of the research fueled Loyalty 360 to add a comprehensive B2B Track to its 4th Annual Loyalty Expo which is being held March 20-22 in Orlando. Featuring a robust slate of B2B marketing insiders, the B2B session will cover a myriad of the most compelling issues facing B2B marketers today including B2B Loyalty: The True Engine of Growth and Profitability; Maximizing Channel and Supplier Relationships; and B2B Customer Relationships: The Road to Becoming a Trusted Partner. For more information, please visit www.loyaltyexpo.com
About Loyalty 360- The Loyalty Marketer’s Association
Connecting. Educating. Guiding. This is what Loyalty 360 – The Loyalty Marketer’s Association is all about (www.loyalty360.org). Loyalty 360 is an unbiased, market driven, voice-of-the-customer focused clearinghouse and think-tank that is committed to bringing loyalty to the forefront as a critical marketing strategy. A trusted source for cutting-edge research, best practices, and networking opportunities, Loyalty 360 gives members the expert insights and guidance they need to better understand loyalty and develop programs that effectively engage their customers and employees and build stronger relationships with them.
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. (www.sas.com) Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 45,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world The Power to Know®.
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