Many companies use content marketing as a lead generation strategy. However, content can also be used to develop and support customer relationships. Engaging customers throughout their journey is essential to building engagement and customer lifetime value. Content focused on supporting key stages in the customer journey can deliver value and provide key engagement points.
Lead generation versus customer relationship management
Lead generation is all about customer acquisition, whereas customer relationship management is about engagement across the customer lifecycle. Effective customer relationship management can bolster customer lifetime value and increase customer retention rates. Customer retention rates are a metric that can be influenced and it’s a proven fact that retaining a customer is less expensive than acquiring one.1 Despite this, about half of companies focus on retention compared to companies that focus on acquisition.2 A carefully constructed content marketing program can allow a company to focus on customer retention and customer acquisition, thereby stretching marketing dollars further.