$1M Dollar Question

How much business would you get if you were to invest $1M of the marketing budget into your existing customers? 

I don’t have a clue. I have not seen a single company do it. 

What I have seen is $1M and more poured annually into Google ads to acquire new customers.

Why? “Because acquiring new leads is the only way to grow”. But is it? 

Tremendous pressure is put on GTM teams to build pipelines and win business. Marketing and BDRs have to produce more and more leads, and keep their fingers and toes crossed that sales closes a tiny fraction of them. If not, even more pipeline is needed to account for the low win rate that gets even lower when Google ads don’t attract ICP. 

What if the same focus, effort and funding were to be used towards existing customers? For example:

1. Create company-wide KPIs and revenue share model that are connected to your customers’ business

2.  Invest in subject matter experts who understand your customers’ business and what customers actually need

3. Revamp the legacy code to help customers become more successful than ever and increase your revenue share

Customer obsession made Amazon who they are today. This is yet to be the case for most of the B2B SaaS businesses. 

What are your thoughts? Is it worth “sacrificing” your $1M Google ads budget towards your existing customers?

#customersuccess #customerobsession #demandgeneration