New B2B Marketing Survey Reveals Software Vendors Prioritize Revenue Goals of Existing Customers Over Net New Sales

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Among its findings, The State of the Modern Customer Journey reports that 73% of B2B software vendors accelerated revenue goals for existing customers in the past 12 months.

Today, Alloy, an integrated marketing agency for global technology brands, unveiled its annual report on technology marketing data, titled State of the Modern Customer Journey. The company’s early industry research indicates that technology companies are now prioritizing the customer lifecycle rather than the sales funnel, signaling a shift that could fundamentally reshape sales departments and B2B marketing worldwide.

Among its findings, The State of the Modern Customer Journey reports that 73% of B2B software vendors accelerated revenue goals for existing customers in the past 12 months. Additionally, 41% of these brands are reducing their focus on net new sales due to prioritization of upsell and cross-sell initiatives.

Alloy survey respondents also revealed:

  • Organizational dynamics resulting in increased customer focus. These include cross-selling mandates due to recent M&A activity and customer retention issues in the face of a recession.
  • Which departments are ultimately responsible for customer revenue growth and inhibitors to their overall success.
  • Top customer lifecycle challenges and more.

“We interviewed more than 115 global B2B technology professionals with revenue responsibility, and the sum of their insights was clear. In today’s market conditions, software brands are focused on lifetime customer value (LTV) – not initial sales and average customer value (ACV),” said Anna Ruth Williams, chief strategy and partner at Alloy.

REIMAGINE CUSTOMER MARKETING

Since most marketing spending today is focused on net new sales, moving from ACV to LTV will require organizational restructuring and budget reallocation.

“Sixty-seven percent of respondents said their businesses would ‘definitely’ be more successful if the sales, renewal, marketing, customer success and customer experience functions were more closely aligned,” Williams continued. “As we head into 2023, tech brands should reimagine customer success. Perhaps create a ‘customer growth’ team of these cross-departmental professionals and their agency partners.”

“The modern customer journey is very similar to the traditional B2B buyer’s journey,” said Alloy’s executive vice president, Renee Spurlin. “Think about it – the same strategies and tactics that secured a first time buyer will work again and again to reinforce that decision, sell up, and sell to that customer over their lifecycle.”

To see how and why the modern customer journey parallels the B2B buyer journey, download the full report at alloycrew.com/resources/modern-b2b-customer-journey-data-report.

“The world’s technology companies are on the verge of opportunity right now – and by transforming their traditional B2B marketing efforts into integrated, customer-centric initiatives, they can meet customers’ changing revenue goals,” Spurlin concluded.

About the alloy

Alloy (formerly known as ARPR) is an integrated marketing agency brimming with problem solvers and idea creators whose work reverberates across the Americas, Europe and the Middle East. The company’s deep expertise in earned media, content marketing, social platforms and digital advertising enables us to launch multi-channel campaigns that help global tech brands engage with their buyers, shape public opinion , gain lasting influence and increase their market share. Since 2012, Alloy has been named 10 times Best Workplace, Tech Agency of the Year, Fastest Growing PR Agency, and rated for Best Use of Metrics and Data. To see how Alloy stands out from the crowd, visit AlloyCrew.com and follow @Alloy_Crew on LinkedIn, Twitter and Instagram.

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