To derive business success in B2B Marketing, a company needs to ensure that it drives customer satisfaction, trust and a positive rapport. This formula is especially effective when thinking about customers – their experiences; what you want them to feel, think and do; and what kind of processes and systems you need to build to support them.
This is an area that can get extremely complex but one of the simplest ways is to look at the three dimensions of Recentcy , Frequency and Value that has been discussed often by marketing practitioners around the globe. This model suggests the following:
- Recentcy – when did they last purchase from you
- Frequency – how often did they purchase from you over a defined period
- Value – how much were they spending either as a total amount over the period that frequency is measured or as an average
This approach does have one fundamental assumption though and that is that you can identify who you customers are! Customer Interaction follows as you get the above steps right. Customer Interaction methodology is used to align Customer Experiences with Brand Promises through appropriate Business Processes. This results in customer interaction practices that are essential for long-lasting, profitable customer relationships. B2B marketing is about long-lasting relationships, this customer engagement should be on your priority list.