Everyone, it seems, has jumped on the customer [insert favorite objective here] bandwagon. Articles, studies and best practices abound, each heralding the financial benefits of aligning your organization outward to how customers go about their daily lives.
Even Mark Hurd, Oracle’s President, has been evangelizing the need for companies to make the transition. Not, he claims, because Oracle owns RightNow and Eloqua and wants you to buy these solutions, but because it’s the right thing to do. It’s no longer a matter of revenue growth, but one of survival.
A recent IBM study found that 76 percent of executives aspire to know their customers better. Another study found that 93 percent of B2B executives say that improving that experience is one of their top three things to do by 2015. Yet one study by CEI cites less than 40 percent and another study by Temkin Group cites less than 10 percent of companies are actually doing something to transform their organizations to be more customer-driven.
If the customer is the lynchpin of survival, why aren't more companies doing something about it?
In my company's work with B2B Fortune 1000 executives, we keep running into three myths that have executives taking the foot off the gas pedal when it comes to customer experience. These cause management teams to hesitate and put a big dose of "scary" into the whole discussion.
Let’s debunk each of the myths.
1. We Need Leads, Not Transformation
The B2B C-suite is obsessed with marketing leads. They need sales to have more "at-bats" and that translates into more leads from marketing, not on how happy past prospects were in dealing with the seller or how consistent their experiences were across the various vendor teams they dealt with.
The reality is that by the time a prospect raises their hand and is classified as a marketing lead, they’ve already thoroughly checked out the vendor, their products, reputation and, from our research, have already done a short list.
No amount of marketing is going to change that. If the vendor doesn’t know what the buyer has done and their context before they raised their hand, it’s a crap-shoot whether that prospect is truly a lead. Improving lead volume, velocity and quality only results when sellers adequately understand their buyers’ journeys and have aligned their demand generation waterfall, digital-physical-social interactions and sales methodology to the buyers’ journey. That’s not a big transformative initiative; it’s a common sense change to stay competitive.
2. We Know Our Customers’ Journey
Companies will point to sales and existing customer advocacy programs as proof positive that they already know the journeys their buyers go on. For it is sales’ job to discover the buyers’ journey as part of their qualification process. Voice of the Customer, Voice of the Employee, Customer Advisory Boards, Customer Acquisition Costs and Net Promoter Score programs fill in the gaps needed to plot the buyers’ journey.