Gallup Study Reveals Marketing Statistics Which Call for Improved Customer Engagement
If you were to give your B2B company an evaluation how would you do? A new Gallup report suggests that many of your business relationships are built on rocky soil. Marketing statistics analyzed by Gallup researchers suggest that the vast majority of B2B clients are ready to switch partners with just a few sweet words.
Marketing Statistics by the Numbers
In this Gallup report, the pollsters spent five years talking to 100,000 plus respondents about their B2B relationships. Of those polled, 29 percent of B2B clients felt a strong loyalty or connection to their current business partners. That means that B2B companies have uncertain relationships with over two-thirds of their existing customers. A break-up could happen at any time.
Marketing Statistics by the Relationship
Loyalty flows from full engagement — feeling an emotional or strong intellectual connection to someone or something. The Gallup research showed that for B2B companies over 70 percent of current business customers would pack their bags and move along with very little incentive. There are no psychological bonds tethering them to current business relationships. And the lack of engagement transcended all business sectors. This isnt a problem relegated to a single industry. The customers readiness to switch partners had less to do with product satisfaction or pricing and far more to do with the perceived lack of strong customer service.
The Warning Being Sounded
The Gallup-research based study warns against a state of complaisance based on brand recognition, the costs of switching suppliers or even market dominance. The fact that large companies are reporting growth based on gobbling up competitors rather than on winning new clients is telltale. Gallup pulls back the curtain and reveals a broad-spectrum problem in terms of customer engagement. You need to find ways to create an emotional connectedness with your customers.
Making the Personal Connection
With so many of your business relationships in danger what you need is a way to show your customers that you want to be more personal and engaged. Finding ways to do that deserves top consideration. Among the several ways you might reach out, telemarketing tops the list. There is no replacement for a human connection. The person-to-person approach is where emotional connection to your business relationship will occur. Telemarketing can be used at several key junctures in your customer support strategy. In fact, it probably needs to happen at several junctures to strengthen the psychological tether.
At Blue Valley Marketing we understand how important business relationships are for the growth and vitality of your company. We can help you connect with existing customers to deepen current relationships or work with you in lead generation strategies that get you started on the right foot with new partners. Call or email us to find out how we can improve your level of customer engagement.
Last Updated on April 5, 2022 by Ronen Ben-Dror