Customer Insight through the Buyers\’ Journey
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Webinar presentation the discussed how to leverage the "Buyers Journey" to overcome obstacles, gain insight and better predict outcomes and customer actions. Learn how to plan with foresight by maximizing customer insight and communicate the value of social captivation
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Customer Insight through the Buyers\’ Journey
- 1. Customer Insight Analysis: “Buyers‟ Journey” Christine Crandell December 5, 2011 © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 1
- 2. About Us… Strategy Services that accelerate growth 20 years in business Increased client revenues & efficiency by 75% © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 2
- 3. What We Will Cover • How Buying Changed • The “Buyers‟ Journey” • Discover the Invisible • Align for Revenue Performance • Q&A © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 3
- 4. HOW BUYING CHANGED © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 4
- 5. The World Changed… © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 5
- 6. We Need to Change… © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 6
- 7. New Rules There are no “Customers”, only “Buyers” Buyers are in control Buying is social, self-directed, trust-based & transparent „Lifetime Harder and harder to „reach‟ buying teams Experience‟ is a key decider Disruptions result in disengagement and viral word-of-mouth © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 7
- 8. What is Buyers‟ Journey™? The Buyers‟ Journey™ is a set of organizing principles for aligning company functions and roles to enable, engage and establish enduring relationships with buyers. © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 8
- 9. Buyer‘s Journey 1. Buyer Enablement 2 • Higher quality leads 2. Purchase Validation Buyer • Faster revenue Influence cycles Circle 3. Buyer Engagement 1 3 • Earlier & wider adoption © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 9
- 10. Buyer Enablement: • Problem Definition Validation Commitment to solving the problem • Solution Search Evaluation Understand how Peers Buyers solved the problem • Evaluation Solution Journey Select approach, evaluate Search alternatives and short-list • Validation Problem CONTACT vendors and Definition validate selection decision © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 10
- 11. Purchase Disrupters: • 1st Disrupter Handoff of from Marketing to Sales Buyers • 2nd Disrupter Handoff of ’customer’ Journey from Sales to Service/Support © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 11
- 12. Buyer Engagement: •Value Delivery Purchase Customer onboarding and Value Validation Delivery initial value • Nurture & Retain Nurture Consistent expected Evaluation & Retain experience • Value Streams Buyers Deliver expected value Solution Journey Value beyond solution ROI Streams Search • Expanded Adoption Expected experience and Problem Expanded value drives adoption Definition Adoption • Evangelism Evangelism Unprompted WOM of your value! © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 12
- 13. Purchase Value Validation Delivery Point of Churn – 3rd Disrupter: Nurture Evaluation & Retain • Unmet expectations that remaining after 90 days. Buyers • Churn or defection is highly probable regardless of any Solution Journey Value Search Streams action taken. Problem Expanded Definition Adoption Evangelism © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 13
- 14. Why Do This? • Accelerate sales by 3 to 5 times • Reduce cost of sales by 30+% • Viral word-of-mouth evangelism © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 14
- 15. DISCOVER THE INVISIBLE © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 15
- 16. Discover the Invisible Identify Destination Conversation Learned Action Taken © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 16
- 17. Discover the Invisible Build Match Presence Assets to at Craft “Action” “Identify” Experience Longitudinal Data Analysis Mother of all Interviews © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 17
- 18. Your Buyers„ Journey Opportunities Sales Purchase Value Validation Delivery Customer Care Nurture “Customers” Evaluation & Retain Marketing Contacts Buyers‟ Journey Value Solution Search Streams Problem Expanded Definition Adoption Evangelism © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 18
- 19. Put It Into Action 1. Be where your customers are and deliver value 2. Develop a holistic plan for consistent lifetime experience 3. Align roles outward and blur internal functional lines 4. Empower all employees to engage with training, mentorship and incentives 5. Engage in all conversations, positive and negative, in public domain 6. Measure ROI and mitigate risks © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 19
- 20. ALIGN FOR REVENUE PERFORMANCE © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 20
- 21. Be Outcome-Oriented • Buyers buy outcomes, not solutions • Understand each Personas‟ desired end- state and lifecycle expectations • Sales cycles accelerate when interactions and solutions meet expectations and deliver target outcomes © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 21
- 22. Digital Body Language • Digital body language is key to understanding Personas • Research longitudinal behavior • Establish a core team responsible for understanding and aligning buyer experiences © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 22
- 23. Align Outward • Understand each Persona‟s Journey, definition of value and expectations • Define and align each role in terms of its contribution to the Journey • Marketing and Service/Support should own charting the experience D agr am by Sr ee H eed i am © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 23
- 24. Value Match • Definition of Value 1 changes over time and 6 across in the Journey • Value are the building 5 2 blocks of outcomes • Manage “value” as a portfolio and routinely 4 3 measured for effectiveness © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 24
- 25. Consistency • Consistent buyer interactions are core to building trust • Tone, responsiveness, cadence, and continuity across channels establishes consistency • Establish internal guidelines for how/when/who engages with buyers on which topics © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 25
- 26. Key Takeaways… • Align to how your buyers buy • „Close‟ faster by enabling buyers & their decisions. • Deliver the experience buyers want © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 26
- 27. Questions? Contact us for a 1 hour Complimentary Assessment Christine.crandell@newbizs.com +1.415.309.7017 Blog: www.christinecrandell.com Forbes Blog: blogs.forbes.com/christinecrandell Twitter: @chriscrandell © 2011 NBS Consulting Group, Inc. Tel: 415.309.7017 27
Notes de l'éditeur
- Identify – what looking forDestination – where goConversation – who “talk” toAction Taken – what doLearned – what learnedAnd it starts all over again for each step in the Buyers Journey and for each Persona or role.
- Build shared vision of success and on how to achieve target outcomeUnderstand tipping points along in the Journey stages
- Personas self-define their Journey roles and may move back and forth across stagesImproving buyer experience across channels is core to successful differentiation
- Hand-off points, SLAs, metrics, real-time dashboards and processes are documented All roles collaborate with buyers guided by the ‘experience’ framework
- Value is delivered through assets, collaboration, and interactionsValue includes hard ROI as well as soft benefits including networking, speaking, etc.
- Ensure all employees have a consistent vivid image of Buyer Personas