video | June 23, 2017
How to Grow Revenues From Existing Customers
Joining us for today’s show is Jennifer Arnold, a marketing executive who knows a thing or two about generating revenue. Today’s topic is customer marketing and how to grow revenues from existing customers. It is hard to execute a Marketing Strategy to grow revenue faster than your competitors. The Revenue Growth Diagnostic tool will help you assess your marketing strategy to pinpoint keys to your success.
Our guest today is Jennifer Arnold, the Vice President of Marketing responsible for Australia and New Zealand for software powerhouse SAP. Jennifer is going to demonstrate how to grow revenues from existing customers.
Leverage SBI’s How to Make Your Number in 2018 to access a revenue growth methodology to hit your number quarter after quarter, and year after year. Turn to the Marketing Strategy section and flip to page 309 of the PDF to review the Customer Marketing phase.
Jennifer is uniquely qualified to speak on this topic of customer marketing. SAP depends heavily on growing revenue from current customers to hit their revenue target. Customer accounts in Australia and New Zealand contribute approximately 4x the revenue of net new SAP customer base. Jennifer and her team are at the heart of helping the sales team make that happen.
Why is this topic important? When a customer says, “I did not know you did that.” You are in big trouble. If your business depends on increasing the revenue generated from current customers, you must educate these customers in everything that you can do for them. The customer life-cycle does not stop once a prospect becomes a customer. The life-cycle continues as your customers become repeat customers.
Every executive’s nightmare is hearing one of your top customers mutter the words “Oh, I didn’t know you did that.” SAP has a solution for just about every front-office or back-office system that a company could run. An additional level of complexity comes into play with acquisition of new capabilities. Customers who love your company are the most difficult to re-frame your expanded capabilities. Watch as Jennifer outlines a disciplined approach to Customer Marketing to retrain loyal customers how to think of your company in new, expanded ways.
Increasing revenues from current customers requires an excellent account-based marketing program that goes beyond the hype of ABM technology solutions. Jennifer describes the marketing and sales steps and building blocks to implement account-based marketing to generate robust customer revenue. In addition, Jennifer outlines the three key pieces of data that you need to have to effectively generate revenue from current customers. This show is a must-watch episode for every B2B Marketer.
Watch as Jennifer describes the selling motion for SAP’s sales efforts that she supports. SAP executes a classic land and expand strategy. SAP assigns an account executive to large customers to act as a conductor of an orchestra. The AE makes sure that all those specialists, salespeople, and delivery-people work together and are bringing the right solutions to the customer.
Marketing supports the land and expand strategy through several ways. For very large accounts, SAP marketing executes account-based marketing programs that are highly customized and tailored to those individual customers. Watch as Jennifer provides an example of targeting the very large banks in Australia, in some cases some of SAP’s largest global customers. Marketing works together with the account team and start with an initial account plan that maps out the year. Marketing contributes insights about what’s happening in the market, what’s happening globally in the banking industry, what’s happening in other industries that might be applicable to the banking industry. During this ABM planning process an immediate one-year plan is developed as well as a 3-5 year vision for what the sales team wants the account to accomplish.
Jennifer describes how customer marketing includes the development of industry-focused marketing programs to produce highly relevant marketing materials and programs. This includes tailoring the discussions that we’re having with our customers to the issues and the growth areas and the very specific requirements of target industry groups. Without this level of relevance, customer marketing efforts are hard pressed to produce meaningful results.
Persona-based messaging is a foundation of customer marketing. Watch as Jennifer describes the transition from product-focused discussion to more of an audience-focused discussion. Jennifer’s teams run programs that are focused on different audiences including IT and CIO audience, HR audience, finance audience, etc. This involves creating marketing programs that speak more about the business needs and the business problems than we are talking about the specific solutions.
In recent years SAP has acquired expanded capabilities. This includes Ariba for procurement, Concur for travel and expense, SuccessFactors for HR, Hybris for sales and marketing, and more. These acquired companies come with strong customer bases, brand names, and SAP is working to integrate their services and solutions and their brands into the larger SAP brand. Jennifer outlines the challenge communicating with customers to share the breadth of solutions to solve a broad array of business problems.
Customer marketing is not as simple as blasting a portfolio message. For each solution, there are very specific customer bases. It might be in HR, it might be procurement, it might be head of sales. So, it’s making sure that you are orchestrating discussion about the right solutions to solve their very specific problems.
Would you like help developing your customer marketing campaign strategy? Bring your marketing leadership team to see me and a hand-picked team of marketing experts in Dallas at . The Studio is SBI’s multimillion dollar, one-of-a-kind, state-of-the-art, executive briefing center. A visit to The Studio typically results in getting three months of work done in three days. The immersive sessions accelerate everything, dramatically reducing the time it takes to diagnose a problem, develop a solution, and create an implementation plan.
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