I sacrificed my Saturday afternoon shopping for a new car. The dealer offered me the usual incentives to buy plus another cash bonus because I was a returning customer. I have coined a word for this:
- a reward offered to a customer to stay with an existing brand/vendor, making it unnecessary to inquire with a competitor
In B2B marketing, we often lavish time and resources on winning new business by creating incentives for customers we don’t yet have. But how much marketing effort do we invest in making sure that our existing customers never have reason to consider our competition? How often do we circle back and show them how we’re helping them grow revenue, avoid cost, prevent lost days, and keep their customers?
It’s important that we market to our existing customers differently but no less rigorously than our prospects. Pick a handful of existing customers and offer them an uncentive today.