Stewart Rogers, director of marketing technology at VB Insight, shares a similar belief that we need to begin to rethink marketing beyond demand generation and counting leads in a pipeline.
“With triple-digit, year-on-year growth in martech solutions, we have more technology available to us than ever before. Technology that helps us to understand the prospective customer in incredible detail,” he said. “And yet we use it to send crappy, generic messages that are the marketing equivalent of a horoscope.
So what would I optimize? The technology? No. I’d focus on having everyone act more like a human, and less like a marketer. Please utilize all the data and technology you have, but use it to talk to people the way you would if you had met them, got to know them, and connected with them. If you create an emotional experience for each member of your audience, you’ll see a massive return on marketing spend.”
Simply put, marketers need to be thinking more about the lifetime value of a customer than just about the acquisition of the customer. The focus needs to be not just on getting people in the door – though that definitely needs to happen – but also on making sure your customers are successful after they’ve passed through that door. That could mean how they are onboarded, or how they are successful using your product or service over time.
So how do you make sure that you are thinking about your customer’s long term needs and avoid the pitfalls of “sloppy growth” after the close of the deal?
We believe you can take all the use cases around demand generation and acquisition marketing that already exist within marketing automation and apply them directly to the other marketing disciplines, including building your brand, and expanding customer relationships.
By taking the time to do this, you will have customers creating long-term value for you (meaning they renew year after year), and in doing so, your new advocates will build your reputation as a stellar brand. As a result, your economics as a company, your efficiency numbers, all your SaaS metrics will become more valuable.