Published: 22 December 2022
During a recession, B2B CMOs who prioritize customer needs and expectations achieve their organizational objectives by reducing churn, increasing revenue and garnering customer loyalty. Thrive in challenging economic times by focusing on customer data, recession-proof metrics and CX strategy.
During the Great Recession (2009-2010), the CMO Study reported 64% of B2B CMOs felt intense competition for their customers due to the rapidly declining macroeconomic conditions and intense pressure to maintain organizational results.
B2B CMOs who build CX strategy around customer retention were ~1.6 times more likely to meet their customer retention goals necessary to prevent the loss of customers and revenue amid economic headwinds.
Marketing leader tie-in to the customer insights that CX provides is essential, especially when market and customer conditions change. Marketing leaders involved in CX efforts (persona creation, journey mapping, etc.) are 1.3x more likely to
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