This B2B ecommerce supplier was planning for exponential top line growth. Despite having a lofty growth agenda, they failed to amend their traditional go-to-market approach, opting instead to add more volume of the same marketing they had been doing.
Their approach was primarily focused on repeat customers and new campaigns were costing considerably more but not achieving an equivalent revenue uplift.
Our initial finding was based on analyzing several years of purchase history supplied by the company. Specifically, the analysis noted that there was not enough true repeat business to warrant the bulk of marketing to be spent on past customers.
The company’s product line is primarily maintenance and repair parts including high end, specialty items in the pumps, hydraulics and fittings category. There is little need to focus marketing efforts on existing customers. Customers need a pump or part only when an existing part is broken — purchases are not necessarily driven by ads.
We wanted to identify all the ways to keep past customers sticky, but without the big marketing costs to do so. Rather, we suggested using a majority of the marketing budget instead to attract new audiences — those prospects that hadn’t bought from the company yet.
You can reach existing customers in lower cost ways
Existing customer information was used via a ‘low to no cost’ email marketing plan. Communications were sent following transactions to assist with customer retention, offering help and support. Mapping customers into the right email sequences would help the company stay top of mind next time the customer needed a product, fostering repeat sales. Marketing costs to the existing customer base were slashed.
Identify new audiences to build your customer base
We then went about researching and identifying the best way to attract new customers — those audiences who were not yet familiar with our client and their product line. From customer and market research, we identified specific industries and various job roles in need of our client’s product line up, which is extensive. Our goal was to exponentially increase the number of ‘existing’ customers by finding new first time buyers.
One size never fits all — relevant, tailored messaging works best
We created a robust target audience list parsed by industry, product category and job roles. We identified each group’s specific needs and common issues as well as how and where each audience spent time searching for solutions — this was vital to reach each group directly and efficiently. Custom messages were developed for each audience group using their industry vernacular, focused on solving common problems and helping them to find what they needed quickly. We understood each group and their unique needs beyond function and utility. Our messaging was built around help, support and solutions.
American author and journalist
A highly effective go-to-market plan, executed to help fill our client’s sales funnel with new prospects, en masse. A new approach combined with deliberate and tailored messaging and touch points helped to reach new prospects and build credibility.
Top of the funnel, topped off.
