Retained businesses and growth via upsell and cross-sell account for 77% of total revenue, as per Forrester.
To develop competitive strategies for client retention post-sale, B2B businesses must nurture relationships, deliver value, and provide rich consumer experiences. Retention through account management, customer success and other efforts can help them offset competitor pressure.
Creating renewal conversations and improving interactions by focusing on prospects’ growth experience with the business can help B2B marketers counter competitive innovation. Businesses must provide account and customer success managers with enhanced guide materials on consumers’ segments that are most likely to switch to competitors.
Data like last known competitors during the sales process and underscoring the brand’s post-sales consumer journey helps validate the client’s reason for purchasing. Further, existing resources like customer advisory boards and partner networks allow companies to gather competitor insights and create brand advocates for retention.
[2 minute read]