As we discussed in part 3 of this series, even the largest and oldest companies are facing a new B2B selling environment where “old school” marketing and sales just doesn’t work anymore. Instead of talking to your prospects, you need to listen to what they want. Instead of hitting leads with more disjointed messages, you need to deliver the right information at the right time in the right channel. Continuing to sell from the inside-out won’t work. Brands must learn to sell from the outside-In.
What happens to companies that resist change? Let’s take a look:
In CXP Lessons 1-3 we looked at an unfortunate company called Acme. They were industry leaders but are now seeing competitors eating away at the prospect and customer bases. Why? Acme has failed to deliver the experiences that customers now require. Instead of delivering relevant information at the appropriate time, Acme blitzes prospects with unrelated emails and poorly-timed sales calls. They fail to understand customer buying needs, instead walking them through traditional funnel stages. At Acme, it’s about what they want to sell and when, not what the customer needs
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familiar, it’s because we all regularly engage with companies that have antiquated customer experience (CXP) models and out-of-date marketing tactics.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.