As we mentioned in part 3 of this series, even the biggest and oldest companies are facing a new B2B sales landscape where traditional marketing and sales methods no longer succeed. Instead of speaking to your prospects, you should pay attention to what they need. Rather than bombarding leads with mixed messages, you must provide the right information at the right time and through the right channel. Continuing to sell from an internal perspective won’t be effective. Brands need to adopt an outside-in approach to selling.
What happens to companies that resist change? Let’s take a look:
In CXP Lessons 1-3, we examined a struggling company named Acme. Once leaders in their industry, they are now losing customers to competitors. Why is this happening? Acme has not provided the experiences that customers expect today. Rather than sending relevant information at the right time, Acme bombards prospects with irrelevant emails and poorly timed sales calls. They don’t grasp what customers need when buying, instead forcing them through outdated funnel stages. At Acme, the focus is on what they want to sell and when, not on what the customer requires.
If Acme’s story sounds familiar, it’s because we all regularly engage with companies that have antiquated customer experience (CXP) models and out-of-date marketing tactics. They haven’t figured out how to get with the CXP program! The good news – many companies have successfully transformed. The bad news – it’s a big job. But consider the cost to your company’s future if your approach to CXP doesn’t change from inside-out to outside-in thinking.
As the global marketplace changes, many companies are recognizing the need to evolve not just their marketing tactics, but the many ways they interact with prospects and customers. What used to work for them is no longer effective as competitors employ newer tools and techniques to nurture, sell and serve clients. Systems, data, and processes must be integrated in order to enable a Revenue Marketing model that is based on continuous, personalized communication.
But lip-service doesn’t make it so. Real changes are required to get to Revenue Marketing and the optimal Customer Experience. Executives must clearly communicate the CXP vision, functional silos must be bridged, systems must be integrated, and data must be used in the service of customer engagement.
Focusing on the customer’s experience versus your standard procedures will evolve your customer relationships to a new level. As you move towards Revenue Marketing, your customers will experience fewer disjointed communications, more relevant and timely information, and offers that enable their own growth and revenue. They will purchase, buy more, renew, and even advocate. You’ll see breakeven, profitability and maximum life-time value.
If your marketplace is changing without you, it’s time to commit to CXP. As in all of life, profitable long-term relationships require personal two-way communication and commitment.