In the second half of their session on building a customer-focused revenue team, Jason and Jen discuss how to understand your customer and how to provide value in every interaction.
What does your customer want?
What actually happened is that as go-to-market teams became more annoying to people, they said, “Yeah, I like buying stuff. We live in a consumer culture. We live in a culture that wants to be better and do bigger things, but I don’t want it when I don’t want it. I don’t want it when it feels like a sale, I want it when it feels like value to me.”
The customer is past the age of knowledge. Today, in 2020, the customer is demanding a deep personalization of the buying experience because they already know whether they’re going to buy our product or it’s up for debate, well before they ever reach out.
They’ve done their own research, they know what they want, and what they’re looking for is how that company interacts with them.
In the B2C space, that’s why we suddenly see everyone wanting to create a lifestyle brand. Why? Because lifestyle brands mean something. Right? It means it’s something personal.
What’s the Value of Deep Personalization?
Especially in B2B, personalization leads to partnership.
What we’ve seen working with companies, plus a lot of research on the topic, is that the more personalized you can make that experience and the fewer gaps that exist for the customer, the less they feel like they’re dealing with a business. The more your customers feel like they’re dealing with a person, the higher your LTV will be for that customer.
If you can implement this unified revenue team, you can pick up 26% more revenue off every single customer because for every gap they feel, they reduce the amount they were going to spend with you by 1-3%. That is the truth about B2B sales in this environment.
No matter how you want to segment them into cohorts, people want to be treated like people.
Personalization vs. Personal Customer Experience
When we talk about personalization, it’s not just your SDRs saying at the top of their LinkedIn message, “I saw you went to UNC. That’s so cool. Go Tarheels,” and then going into their pitch.
One sentence of personalization in outbound outreach is not a personalized experience. From the moment somebody is a known lead in your database, even at the research stage before that, all the way through to becoming a customer advocate–there are touchpoints all along the way.
Your customer is not expecting to go on your website and have it say, “Hi, Jen,” every time. But if I am a customer of yours and your Drift bot says, “Hey, do you want to learn more about Go Nimbly?” That’s an annoying experience for me.
Don’t make me talk to your customer success team after just talking to your sales team for six months and have them ask me what’s going on with my company.
So many words in the B2B space–revenue operations, personalization, ABM, alignment–all these terms get misused because they’re buzzy and because they increase your SEO and so on and so on and very few people get it right.
Now, should you personalize your emails? Absolutely. But what’s the difference between a personalized email and a Personalized email, with a capital ‘P’?
A personalized email is providing information that is not valuable and is not making a connection. The Personalized experience with a capital ‘P’ is human. It means that I’ve done the work because you’re worth selling to because I believe my product will add value to your life.
That’s huge and it starts with having a unified revenue team where the members of that team believe in what you sell and believe in the mission and vision of the company.
Understanding the Customer Journey
Otherwise, especially if you have a very tool-heavy skillset on your operations team, you’re going to lean towards solutions and tools as opposed to analysis and understanding how your customer is actually experiencing your product.
Adding Value for Your Customer
So, I think the word alignment is great. The problem is that we’ve co-opted it to protect ourselves. In B2B, a lot of the things we do are to protect ourselves and our egos and our departments and our colleagues, when we should always be putting our customers first.