In challenging times, small frustrations may result in harmful long-term negative sentiment. During this current pandemic crisis your approach to Customer Experience (CX) matters more than ever. Your business needs to protect relationship capital and see this as an opportunity to appeal to your next generation of loyal customers.
Recently I sold a few things on an auction website. The transactions were great and concluded quickly. But, the payment arm of this organization seems to have a bug in their tracking system related to USPS Registered Mail. Their status of the transaction displayed “shipped,” but when you pressed the “Tracking” button it was clear that the package had been delivered a few weeks earlier. Still, they were holding a significant amount of money and there was no clear release date.
While that was a little frustrating, what happened next changed how I feel about this company. I sent email to Support and received canned responses. I used their chat option and spoke to a couple of “people” who were either chatbots or who should be replaced by chatbots because no matter what information I provided the response was always the same, and it was not helpful at all. Interactions that are positive and consistent matter!
Now, think about tens, hundreds, or even thousands of customers or prospects having problems getting information about your products and services, getting assistance with questions or support for problems, and working with your company in general. In this time of increased stress and uncertainty it is important that the customer experience for each anticipated archetype be as ideal as possible in order to increase engagement and loyalty. BTW, those things lead to increases in lifetime customer value, repeat business, and overall business growth.
I’ve always told my teams that, “People buy easy” so as a group or organization our goal is to make conducting business with us as easy and frictionless as possible. By doing that, being fair, and acting with integrity we are rewarded with loyal customers that help our business grow.
Relationships develop over time, and each interaction helps determine the eventual outcome. Understanding what differentiates your company and products in the eyes of your customers and prospects can help you create more meaningful, consistent, and useful interactions. People appreciate a positive customer experience so those efforts may ultimately lead to the creation of Customers for Life.
Now is the time to evaluate your processes, procedures, guidelines, and interfaces. Be extremely critical as you ask yourself, “Is this how I would like to be treated as a customer?” By setting CX as a strategic priority, your business or organization will be focused on ways to eliminate friction and ensure that your customers are treated well. Moreover, by supporting the activities that comprise the customer’s journey you are building a more loyal install base.
Investments in CX today have the potential for an immediate payback as well as increased long-term growth.
This was originally posted on LinkedIn.com/in/chipn
When I had my own company our focus was on providing the absolute best services in a few niche areas. Our goal was to succeed in the spaces that were important yet underserved. We identified those areas, validated the need, evaluated the competition and our competitive positioning, determined the market potential, and then made an informed decision based on that data.
But, this was not a plan for winning. It was a roadmap to places that we could win, but nothing more.What would our strategy be? What specific problems would we solve? How would we create awareness around the potential impact of those problems? And, how would we position ourselves as being the best candidates to address those business needs? In short, what was our real purpose or raison d’etre?
Recognizing that void led to a couple of powerful revelations –
1. It is great to have a goal of being the best at something, but don’t use that as an excuse to procrastinate. Learning and improving is an iterative process, so that goal by itself was not good enough.
2. Adopting an “Attitude of Better” turned out to be a game-changer. We set our focus on continuous improvement and winning. We became customer-obsessed, driven to provide a better service and better results for each and every customer. We gauged our success by customer satisfaction, repeat engagements, and referrals.
3. But, it wasn’t until we adopted an intentional Growth Mindset that our business really started to evolve and improve.
· We leveraged each and every win to help us find and create the next win.
· Our team was constantly pushing each other to raise the bar of knowledge, expertise, and performance.
· Just as important was what occurred next. They became a safety net for each other. Failure for one meant failure for all and nobody wanted that. They became a high-performance team.
· We created standard processes and procedures to ensure consistency and maintain the highest levels of quality. This applied to everything we did – from working on a task to writing trip reports, status reports, and proposals. It also reduced our risks when we chose an outsourcing partner to help us take on more concurrent projects.
· Whenever possible we automated processes to maintain consistency while increasing efficiency, repeatability, scalability, and profitability.
· We measured and tracked everything, analyzed that data, captured lessons learned, and continuously worked on improving (and documenting) every aspect of the business.
· A byproduct of this approach was that we could offer leaner pricing based on accurate estimates having very small margins of error. Our pricing was competitive, we could fix price much of what we did, and our profit margins were very good. This allowed us to invest in further growth.
Our “attitude of better” also came across as confidence when selling to and working with new customers. Not only could we tell them stories of our success that included tangible metrics, most of our customers became references willing to talk about the value we added. Their stories included discussions about how much better things became as a result of our work.
Better became the foundation of what we did as well as the basis of those customer success stories.
It is interesting to see Sales and Marketing people still focusing on features, performance, cost, and even value without creating linkage to what that means to a company from a business perspective. Once you understand what your prospect is buying and why they need it, you can then connect with them in a meaningful way to increase your win rate.
A sales adage from the 1940s (source) asserts, “No one wants a drill. What they want is the hole.” Today, that basic understanding of why people and companies buy is still often lost in sales and marketing messages. Sales success is all about solving problems and satisfying needs.
Several years ago, my team and I were selling a new Analytics Database that was genuinely different. Still, our message was identical to every other database vendor – “70% – 100% faster than every other product.” It is nearly impossible to differentiate your product using a non-differentiated message. Don’t treat your product or service as a commodity if it is not one.
I flipped the messaging to focus on business needs. We created a weekly webinar focused on Why Fast Matters. Query response time is important, but responsiveness to customer needs and requests is essential. What if they did not need to wait a week or two to have new indexes created or a month to have a Star Schema updated? They could just run queries as-is, maybe wait a minute instead of a second or two, and have what they need then and there. That message resonated, and we sold the first 50% of that product globally. When the Australian team began using our messaging, their sales also increased. Funny how that works.
Effectiveness is all about results and intended outcomes. Efficiency is about achieving those results with the least amount of time and effort invested. It doesn’t mean that we are looking for a lazy approach to find a win. Instead, it is about identifying repeatable patterns of doing the right things that circumvent unnecessary activities, accelerate the sales cycle, and minimize related costs.
The way to help yourself understand what you are selling is to view things from your prospect’s perspective. What struggles are they likely facing? Where are the greatest opportunities to help their type of business? Are you analyzing data to attempt to assess their unmet needs? Your insight can become a huge differentiator, especially if you can teach them different and better ways to do something (ala the Challenger Sales Model).
What is the difference between your prospect company and its main competition? This analysis requires a general understanding of the problem space and a more specific understanding of the prospect company, its history, and 2-3 of its main competitors. It also requires an honest account of how your company and products compare to the competition so that you can play up your strengths and limit your investment in areas where the fit is not as good.
The next item to focus on is messaging. Below are a few examples from my career –
- Analytics & Big Data – The focus here is often on data volume, the currency of the data, speed of queries, cost, maintenance, and downtime. Those things become essential later in the sales discussion, but initially, companies want to know what problems your product or solution will solve.
- Some of my fastest deals sold because I demonstrated ways to make better decisions faster and/or identify minor problems before they were had the chance to become major problems. Avoiding problems and unplanned outages were critical elemants of the messaging.
- In one case, I closed a significant deal in less than three months by focusing on how a company could provide five years of transactional data for their customers. Those customers could use the data to make better purchasing decisions in less time than it took the current system to analyze six months of data. Their sales increased after implementing this modernized system. Helping their customers make better buying decisions faster was the winning message.
- Embedded Products – While many companies focus on APIs, features, or cost per unit, I would focus on how the product I was selling made things better and easier to manage for improved Customer Support and Customer Satisfaction.
- I closed a $1.1 million deal in less than two months to a medical device company by focusing on the life cycle of those devices (often 10-15 years) and how their customers needed consistency from machine to machine. Consistency over time was the winning message here.
- After being approached by a Defense Contractor for a relational database product for a new Flight Simulator system, I changed the discussion to the complexity of flight control systems, the need to correlate 30+ operational systems in real-time, and the importance of taking a verbal command and translating it to specific commands for each related system. That led to the sale of a NoSQL product that was ideally suited for this complex environment. The idea of letting our software handle the highly complex workload helped win this deal.
- Consulting Services – These were not contracting or body shop services (commodities), but actual Business and Technical Consulting services with high visibility and high impact. In these cases, expertise, experience, and having a track record of success in different but demanding scenarios provided confidence. These were often multi-phase engagements to prove our value before making a significant commitment.
- In a bid against two well-established competitors, we won a deal with a large Petroleum company worth nearly $500K. The proposal included information that we uncovered about the system and use case and later verified with the prospect, a section on our people and some past projects, and a high-level project plan with firm-fixed pricing. We won the bid, and I later found out that our cost was $50K higher than the largest competitor and more than $100K more than the other competitor. The customer told me, “Your proposal demonstrated the understanding of who we are and what we need, and that confidence provided the justification to select your company and pay a premium to have the job done right the first time.”
- My first million-dollar deal was with a company where we demonstrated our ability to solve problems. They knew they needed assistance but were not exactly sure where. I created a “Pool of Days” concept that provided flexibility in the work performed (task, deliverables, and scheduling) but had minimum monthly burn rates and an expiration date to protect my company. The winning messaging this time was that flexibility and the ability to accommodate changing needs without introducing significant risk, or additional cost were better ways to buy consulting services. This approach led to many other deals of a similar nature with other companies.
The common theme is helping companies solve their specific business problems from these examples. Even when technology was central to the message, focusing on better outcomes for that prospect and their customers was essential. Value matters, but positive results and better outcomes matter even more for most purchasing decisions.
Nobody wants to be responsible for taking a chance on a new vendor and be responsible for a high-profile failure. Helping instill confidence early on makes a huge difference, and following through to successful implementation results in happy customers who become loyal customers that provide references and referrals.
Success starts with selling what you know you can do from a business perspective for your Prospects. You are solving their problems with solutions they need and avoid getting lost in the noise of the unfocused messaging coming from most of your competition.