Inbound marketing should not be neglected when it comes to your installed base
There’s certainly lots of “hoopla” around inbound (aka digital) marketing and how it is potentially the answer to our lead gen woes – arguably most valuable to a recurring revenue business where low Cost of Customer acquisition (COC) is so important to profitability. Oh, BTW, I am guilty as charged re: that hoopla. With that said, 99% of what I see inbound marketing focused on is focused on acquiring new customer leads. That’s great! Who doesn’t want new customers especially when that new customer means high margin recurring revenue cloud services for a Cloud Solutions Provider or Managed Services Provider. How about your installed base of dozens, hundreds or even thousands of customers? Are you really effectively marketing to them? How are you doing that today - tech visits, mailers etc? Why not implement the benefits of inbound marketing to your current customers? Sell $1,000 in MRR to 50 customers = $50,000 MRR!!!!!
I suggest you start with………….
1. Take some time and segment your current customers into different types or what we call “personas”. I’m willing to bet you will see trends of different customer personas where each persona has similar needs and you have delivered similar solutions.
2. Establish a compelling value prop to each persona – what additional value can you provide them – what business problems can you solve for them that you have yet to address………
3. Create campaigns for each persona with the relevant value prop and compelling content, premium offer, landing pages and CTA’s.
5. Implement your own lead nurturing system where you convert visitors to basic leads, basic leads to prospects, and prospects into the sales funnel then ultimately to closure.
6. Track your progress within your PSA tool, CRM or even a simple excel spreadsheet.
7. Be vigilant and patient – remember it is going to take time and countless attempts to get their attention, but if you have aligned your value prop and messaging with your personas you will be successful!!
I guarantee you that there is already someone else marketing to your current clients trying to get that wonderful MRR.
