Several months in the making, today we unveiled Alloy’s annual tech marketing data report, entitled State of the Modern Customer Journey.
Our research found that post-pandemic, tech companies are prioritizing the customer lifecycle over the sales funnel – signaling a shift that could fundamentally reshape B2B sales and marketing departments worldwide.
Let’s cut to the chase – 73% of survey respondents told us that their B2B software companies have accelerated existing customer revenue goals over the past 12 months. What’s more striking? 41% of these brands are decreasing their emphasis on net new sales due to the prioritization of up- and cross-selling initiatives.
So, tech companies are beginning to prioritize existing customer revenue over the sales funnel. But, considering that marketing spend has historically been concentrated on net new sales, how can they make this transition?
First, it will require organizational restructuring. Sixty-seven percent of our survey takers said their businesses would ‘definitely’ be more successful if sales, revops, marketing, customer success, and customer experience functions were more closely aligned.
Therefore, perhaps the “customer success” department should be transformed into a “customer growth” team comprised of interdepartmental professionals.
Second, there must be budget investment and reallocation to fund customer marketing in a meaningful way. Using the example above, a customer growth team should have its own integrated marketing agency and paid ad budget. A multi-channel mix of customer education content, email marketing, retargeting ads, and more will be required to fuel retention and demand inside the customer base.
Sound daunting? Here’s the good news. The modern customer journey looks a lot like the traditional B2B buying journey. Think about it – the same strategies and tactics that secured a first-time buyer will work again and again with that customer, just with some tweaking.
In the State of the Modern Customer Journey, we visualize these two parallel paths to help your company as you reimagine customer marketing.
Your tech company is sitting on possibility right now – and by transforming your traditional B2B marketing efforts into integrated, customer-centric initiatives, you will be poised to meaningfully expand within the customer base. Let’s get to work