Chasing new logos can mean overlooking your customer base – and its opportunities.

The challenge of new logo account sales is so much fun! There’s the initial buzz of attraction, the warmth and getting-to-know-you of nurture, and the euphoric hit of the win. Contrast that with spending time with customers, a known and somewhat predictable entity: they know your products already – sometimes better than you do – and they are often well placed to have a moan about ongoing issues.
But ignore them at your peril! — According to a study by Bain & Company, increasing customer retention by 5% can increase profits by 25% to 95%. They’re the key to your future revenues, an opportunity for cross-sell and up-sell, if you only stay in touch and point them the right way.

For one thing, your customers are already bought in to your brand. They’ve done their due diligence, they share your dream, so don’t drop them mid-way. It makes absolute sense to put in the effort to growing their allegiance to your company’s offering – the deeper they commit, the longer they will stay and the harder it is to be tempted to move to a competitor. Talking of competition, this kind of managed nurture can be a differentiator too – if your competitors are focused on the win, it can pay to be seen as the vendor who cares long term.

Customers are a wealth of information too, they can guide you to new features or streamline awkward processes, even unveil brand insights you’d never see through the company’s eyes. Some will turn out to be your superstars too, championing the common cause of their success underpinned by your brand. Others may prefer to keep it behind the scenes, but remain happy to reference, speak to press or assist with marketing case studies. After all, who cares what a vendor says? A prospect would rather hear the news from the coal face.

What can you do in terms of customer marketing?

• Communicate, first and foremost: Use social media, email and web content to share the love.
• Start a regular series of communication: Choose a frequency you know you can support. Plan your content calendar at least 3 months ahead, so you know what you’ll need to request collaboration with and prepare.
• Create a community: Remind them of the community they’ve joined and the shared journey they’re on. Run virtual and in-person events, from user groups to regional meet-ups to VIP events, to share outcomes and challenges overcome.
• Encourage feedback: Use account management and other forums to ask customers for their thoughts on the company, products & services.
• Use that sales and marketing data: Gather and analyse what it tells you about your customers’ interests and needs, using that to guide content.

These are just some ideas to engender that ‘feel good’ vibe amongst your customers.
Make the effort to love them, and you’ll reap the benefits of them loving you back.