?? Sustainable Growth in B2B Tech: It’s Not Just About Acquisition (Attention B2B Tech Leaders ??) If you’re focused solely on customer acquisition, you might be setting your company up for failure. While acquiring new customers is vital, it’s only one piece of the puzzle. The real secret to sustainable growth? Retention, cross-selling, and upselling. In today’s competitive landscape, B2B tech companies must strike a delicate balance—acquiring new customers while maximizing the value of existing ones. Let’s dive into why focusing only on acquisition can leave you with a “leaky bucket,” and how a balanced approach can transform your growth strategy. P.S. Ready to unlock sustainable growth in your B2B tech company? Read this insightful blog from Josh Hardy, Fractional Tech CMO and Founding Executive Member at Fractyl.co.
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?? Key Business Strategies I Learned from a Recent Case Study ?? In a recent case study, I gained valuable insights into strategies that can drive both growth and sustainability in businesses. These key takeaways can be game-changers for both startups and established companies: 1. Start with B2B Distribution Before B2C: Focusing on B2B distribution initially can simplify the supply chain and build stronger partnerships. This approach lays a solid foundation before expanding into the more complex B2C market, where direct customer interactions require additional management and resources. 2. Begin with a Unique Product, Then Expand: Launching with a unique product provides a competitive edge and captures market attention. Once a strong foothold is established, expanding into familiar, high-demand products can help the business grow sustainably while leveraging brand recognition. 3. Focus on Lower Margins for Better Sustainability Early On: Initially, maintaining a lower gross margin allows companies to prioritize customer acquisition, market penetration, and long-term sustainability over short-term profits. This focus on growth first often leads to greater success and profitability in the long run. These strategies highlight the importance of making thoughtful, long-term business decisions, especially in today’s competitive market. I look forward to applying these insights in future business scenarios as I continue my PGDM journey. #BusinessStrategy #B2B #B2C #ProductDevelopment #Sustainability #ProfessionalDevelopment
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Ever felt like scaling a B2B business is like climbing Everest? Here's your practical roadmap to the summit! Scaling your B2B business isn't about growing bigger, it's about growing better. And no, bigger revenue isn't always synonymous with better growth. Start with a strong foundation. Your unique value proposition is your anchor. Stick to it and refine your product or service to meet the evolving needs and pain points of your customers. Next up, invest in strong customer relationships. They are the lifelines of any business. Focus on customer success just as much as you focus on customer acquisition. Speaking of acquisition, don't forget your existing customers while chasing new ones. Customer retention is just as vital for a thriving business. Harness the power of data. Understand your key metrics: churn rate, customer acquisition cost, and customer lifetime value. These metrics can provide valuable insights to fuel your growth strategy. Embrace innovation and agility. Be open to pivot and adapt quickly to the changing market conditions. Complacency could be your biggest enemy. So, it's critical to ask: "Are we just scaling up or are we scaling smart?"
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Every B2B growth motion evolution in the past ~20 years has led to where we are today...Value Led Growth Sales led growth - hire an army of reps to tell and sell your value. Companies differentiated based on process. Product led growth - let people get to value on their own in your product. Companies differentiated by leading in digitalization. Customer led growth - align customer insights and impact into your business to drive value. Companies differentiated by building community and investing in champions. Value led growth - a unified go-to-market motion centered on customer value at each stage of the journey. Companies harness AI and a unified approach to value to differentiate on acceleration. Large swaths of tech spend is up for grabs as companies rethink how to build, buy, or partner on their needs and are actively adjusting to the rapid pace of change. Accelerating value means getting your operations in order so you can deliver maximum impact to customers. Do this well - and you're the leader. Do this poorly - and disruption will eventually find you. What a time to be in to building in tech... How are you accelerating value for customers this year?
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??ATTENTION B2B GAME CHANGERS?? Revenue operations is not just a buzzword—it's the SUPERGLUE that brings together marketing, sales, and customer success ?? ??WHY the surge in interest, you ask? Easy. Smart leaders get that revenue doesn't just jump up out of nowhere—NOPE—it's a SYMPHONY where every department has to play in harmony. ?? Here's my take on this: - TRUE GROWTH is when all the business arms LOCK IN together, targeting that SWEET SPOT where efficiencies boom and customer experience is nothing short of LEGENDARY. - The REVENUE OPERATIONS movement is like the maestro, ensuring that each silo isn't just dropping beats, but making music that leads to CHA-CHING at the cash registers. ?? So what's my PREDICTION? - We're gonna see this REVOLUTIONARY concept take hold like never before. Companies that jump on this train are bound to outperform their competitors who are still stuck in departmental-limbo! - Tech STACKS streamlined, data STRATEGY on point, and employee ENGAGEMENT through the roof. Turn up the volume on COLLABORATION and watch the revenue grow—it's NO fantasy, it's STRATEGY. And hey, it's not just about making more $$$. It's also about providing VALUE to customers in a way that's SMOOTH LIKE BUTTER. ??? ?? NOW is the time to re-think how internal teams interact, align, and aim for that ONE ultimate goal: GROWTH that's predictable, sustainable, and downright IMPRESSIVE. Keep your eyes on REVENUE OPERATIONS; I'm telling you, it's a game you want to be GOOD at. ?? Drop a comment and let me know how you're integrating RevOps in your strategy! -RevenueOperations -RevOps -B2B -SalesStrategy -MarketingStrategy -CustomerSuccess -BusinessGrowth -Innovation -CollaborationIsKey
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#ProductLedGrowth has become a somewhat 'viral' model in the tech world. But many organizations fall behind because they haven't prepared their go-to-market teams to support and scale the model. This is a great guide to how companies like Segment enable this model with a strong sales discipline that opens the door to explosive growth. https://hubs.li/Q02Ffl060 #PLG
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Decoding the IT Buyer: Understanding the Key Players in Technology Purchase Decisions ???New Article Alert!??? In today’s rapidly evolving tech landscape, understanding the key players in IT decision-making is crucial for driving successful business outcomes. My latest article, "Decoding the IT Buyer," delves into the roles, activities, and influence of technology decision-makers. Whether you're in sales, marketing, or product development, gaining insights into the minds of these IT leaders is essential to tailoring your approach and making an impact. ???What You'll Learn: ? The distinct roles within the IT buying process. ? How decision-makers collaborate and influence technology choices. Strategies to engage effectively with IT buyers and address their unique needs. ? Don’t miss out on this essential guide to navigating the complex world of IT procurement! ?? https://lnkd.in/gTvuNiMt ?? #IT #technology #B2B #sales
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Don't trade a proven customer acquisition channel for a shiny new object. It's not worth it. All of the money in the world won't save a business that abandons what's working. Take it from me: - Find a customer acquisition method that resonates with your target audience - Optimize and scale that method to maximize its potential - Continuously test and refine your approach to improve results - Resist the temptation to chase every new trend or platform You don't need to constantly jump from one acquisition channel to another to be successful. But you do need a disciplined focus on what works. Here are 2 ways I'd approach it: 1. Double down on your most effective acquisition channel, allocating more resources and effort to optimize it. 2. Conduct systematic experiments to improve your acquisition process, focusing on incremental gains rather than drastic changes. Remember to aim for a balanced approach. A more sustainable path to growth.
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Dive deeper into our latest blog post to discover why account mapping is crucial for your business in 2024 and how you can leverage it to stand out, manage partnerships effortlessly, and deliver unmatched value to your customers. Ready to transform your B2B sales strategy?
?? As we advance through 2024, the B2B landscape is evolving at a rapid pace. Staying ahead requires not just innovation, but also strategic collaboration. One game-changing strategy? ? Account Mapping ? But why is account mapping becoming a non-negotiable in your sales and partnership strategy? It's more than just identifying mutual connections. It's about: ?? unlocking synergies that drive growth, ?? streamlining partnership management, ?? elevating sales productivity. Imagine leveraging data for deeper insights and uncovering opportunities that were invisible before. That's the power of account mapping ?? In an era where differentiation and customer-centricity rule, mastering account mapping can propel your business to new heights. But how do you get started? What are the intricacies involved, and why is it more relevant now than ever? Dive deeper into our latest blog post to discover why account mapping is crucial for your business in 2024 and how you can leverage it to stand out, manage partnerships effortlessly, and deliver unmatched value to your customers. ?? Ready to transform your B2B sales strategy? Read the full story! ?? https://bit.ly/3US1G07 #B2BSales #AccountMapping #startup
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Decoding the IT Buyer: Understanding the Key Players in Technology Purchase Decisions ???New Article Alert!??? In today’s rapidly evolving tech landscape, understanding the key players in IT decision-making is crucial for driving successful business outcomes. My latest article, "Decoding the IT Buyer," delves into the roles, activities, and influence of technology decision-makers. Whether you're in sales, marketing, or product development, gaining insights into the minds of these IT leaders is essential to tailoring your approach and making an impact. ???What You'll Learn: ? The distinct roles within the IT buying process. ? How decision-makers collaborate and influence technology choices. Strategies to engage effectively with IT buyers and address their unique needs. ? Don’t miss out on this essential guide to navigating the complex world of IT procurement! ?? https://lnkd.in/gP4_gekt ?? #IT #technology #B2B #sales
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?? As we advance through 2024, the B2B landscape is evolving at a rapid pace. Staying ahead requires not just innovation, but also strategic collaboration. One game-changing strategy? ? Account Mapping ? But why is account mapping becoming a non-negotiable in your sales and partnership strategy? It's more than just identifying mutual connections. It's about: ?? unlocking synergies that drive growth, ?? streamlining partnership management, ?? elevating sales productivity. Imagine leveraging data for deeper insights and uncovering opportunities that were invisible before. That's the power of account mapping ?? In an era where differentiation and customer-centricity rule, mastering account mapping can propel your business to new heights. But how do you get started? What are the intricacies involved, and why is it more relevant now than ever? Dive deeper into our latest blog post to discover why account mapping is crucial for your business in 2024 and how you can leverage it to stand out, manage partnerships effortlessly, and deliver unmatched value to your customers. ?? Ready to transform your B2B sales strategy? Read the full story! ?? https://bit.ly/3US1G07 #B2BSales #AccountMapping #startup
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Technology Paralegal/Sales & Legal Operations
6 个月Spot on! Couldn’t agree more.