Learning to Drive B2B Profitable Growth at Ariba Live

Business strategy books fill bookstore shelves, but none draw attention to the unique ways in which B2B organizations need to strategize and run differently than B2C companies in order to achieve true sustainable, predictable, and profitable growth.

Please join me at Ariba Live In my feature break out session, where I will identify those unique differences and demonstrating how B2B companies need to apply B2B strategies with proven approaches. Everyone attending this session will receive a signed copy of The B2B Executive Playbook.

Don't miss this amazing event where you’ll learn to optimize the connectivity and analytics made possible by business networks and the Cloud, gaining essential insights that empower you to transform business commerce. This event includes informative breakout sessions, dynamic keynotes, and engaging networking opportunities, where you'll learn how to buy better, sell more, and manage cash more efficiently.

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3 Keys to Retaining and Growing B2B Revenue

In the B2B World, 80% of your revenue comes from 20% of your customers. The reality is that losing just 5% of those customers could potentially sink your organization. So in this age of big data and rapidly evolving technology, what are the best ways to retain and ultimately grow those customers?

B2B companies must meaningfully engage with their customers to evolve loyalty into advocacy, and engagement begins with a relationship.  Through our work with over 50 leading B2B companies, we have found time again the following three key relationship building practices lay the foundation for account retention and growth:

1.    Educate, Don't Sell.  B2B relationships start with education, not a sales pitch. Educate yourself on your customer's industry, market, challenges, and opportunities, and then demonstrate how you can show them a path forward.  Providing relevant content through discussions and forums, blog posts and articles, and research is an excellent way to establish your credibility and begin the customer loyalty to advocacy journey.

2.    Customer Advisory Boards create a platform where you can leverage happy customers and drive innovation through customer co-design and collaboration. The end result is overall market alignment in offerings, communications, and strategy.

3.    Executive Summits bring key decision-makers together to preview a strategy, product, or market innovation. Through these focused exchanges, customers become first-to-know, first-to-buy, and first to advocate your solution in the marketplace.

Structured, proven, and dynamic educational forums, customer advisory boards, and executive summits help organizations develop a deep understanding of market conditions while building the rapport with key executives. This powerful formula turns customers into true advocates and is the best recipe for retaining and growing your top customers.

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A Sustainable and Effective B2B Social Media Strategy

 

There are so many Social Media Channels today. So which ones are the most effective and sustainable for B2B organizations and deserve the most effort and manpower?  

For B2B organizations the 2 most effective social media platforms are discussion groups and blogs. According to a Forrester Research report, 75% of B2B Decision Makers interact with discussion groups by posting ratings or by leaving comments on blogs.

 

Discussion Groups

Discussion groups often pose questions, relevant concerns, and testimonials for certain products or services.  Engaging in these conversations can showcase your expertise or product solution and build confidence in potential clients.

Blogs

Blogs have the potential to reach clients globally.  These concise short articles, usually packed with relevant information provide an organization with credibility and reach that showcase their expertise, while also opening a channel of communication between author and readers.

Finding the best discussion group and building a following for your blog takes time and dedication, but is the most effective and sustainable Social Media Strategy for B2B Organizations.

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Should Your B2B Organization Consumerize Marketing Efforts?

I recently read an article over on the Software Advice website that discussed whether or not B2B Organizations should Consumerize their Marketing Efforts.  While there are many practices that are transportable between B2B and B2C, (and some of these marketing tactics should be applied to the B2B world aggressively), the suggestions cited in this article are limited to simple and low price point offerings. For typical complex B2B offerings that require many stages of conversations and levels of signoff, these simply won’t work.

In addition, points and “gamification” may in fact represent a conflict of interest and forbidden by the purchasing organization. This is a strong case for why these two worlds must be approached so differently. All marketing isn’t the same. Some B2B marketing is similar to B2C especially when the user is the decision maker, but it can also be very different.

Business-to-business (B2B) companies are fundamentally different from business-to-consumer (B2C) companies. But far too often B2B leaders try to apply B2C strategies and tactics in their companies with disappointing, even disastrous results. B2B success requires a completely different playbook.

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Top 3 B2B Marketing Challenges from 2012

The end of the year always sparks a time of reflection, while the beginning of the year represents a new journey. The three articles below are my top picks for Marketing's biggest challenges faced in 2012 and a playbook that contains the best strategy to face these issues while providing the biggest opportunities for all B2B CMO's in 2013. 

Marketing’s Broken Foundation Measurement

Data is the foundation for analytics. Analytics is the foundation for marketing driven by data and insights.

Think Like a CFO to Gain C-Suite Credibility

Information technology is about driving business results through revenue growth, leveraging economies of scale, and optimizing business decisions through analytics.

Have we Lost the C Suite by Measuring the Wrong Things?

If the latest surveys are to be believed, B2B marketing is on the verge of a “crisis of confidence” within the C suite.

The B2B Executive Playbook

The B2B Executive Playbook describes four steps that can simplify strategic planning, focus product development and sales and marketing efforts, and, most importantly, create a clear path to market leadership.  When implemented properly, it will also add sustainability and predictability to a B2B company’s top and bottom lines. 

 

 

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How a Customer Advisory Board Can Help You Prepare for 2013

A Customer Advisory Board (CAB) is a high-return, high-profile event that can heavily influence your company's competitive standing. A successful CAB provides a powerful format that turns customers into true advocates and provides executives with the information needed to align customer programs with company strategy. A formal Customer Advisory Board should be in your marketing and strategic arsenal for 2013.

A well structured Customer Advisory Board is a proven and dynamic program that helps executives and decision makers develop a deep understanding of market conditions while simultaneously building relationships with key customers. A CAB is the perfect avenue for B2B Companies that have more than 60% of their sales with their top customers to receive relevant feedback that can be used in strategic business planning. A Customer Advisory Board not only helps your organization retain your most profitable customers, a CAB will help increase revenue opportunities within your customer base.

A Customer Advisory Board creates a platform where you can leverage happy customers and drive innovation through customer co-design and collaboration. The end result is an overall market alignment in offerings, communications and strategy that will prepare your organization for profitability in 2013 and beyond.

 

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3 Tips for an Impactful Customer Advisory Board

I recently attended a breakfast briefing, Street Smart Secrets for Change Management, where Jeff Cole, co-author of Driving Operational Excellence, shared nine tips for changing behavior throughout an organization. I found it intriguing. In less than 90-minutes, Jeff managed to get me thinking differently about how customer advisory boards impact an organization.

I’ve seen first-hand how customer advisory boards provide strategic insight, focus marketing direction, and promote leadership team alignment.  My clients have leveraged their customer advisory boards to acclerate sales, improve customer retention, and advance product innovation. Customer Advisory Boards are proven to drive sustainable, predictable and profitable growth (SPPG), as outlined in Sean Geehan’s book, The B2B Executive Playbook. So I know how customer advisory boards can truly impact an organization. I did not consciously realize, however, that an organization’s inherent resistance to change can make transformational impact extremely difficult, or kill it altogether.Resistance

Launching a Customer Advisory Board often implies that change needs to happen in your organization.  After all, that’s why you are investing in it!  Savvy leaders see the need for change (a new direction, increased sales, improved relationships, etc.) and realize customers can provide the guidance to make it happen.  In fact, organizations that utilize advisory boards to their fullest potential have made them synonymous with continuous improvement and drivers of transformation.  But, you have got to get everyone on the same page.

To achieve truly impactful results, consider the following when developing your customer advisory board.

  • Stakeholders inherently resist change, so communicate progress, both big and small, early and often.
  • Culture impacts an organization’s ability to change, so build a tolerance for ongoing change into your corporate strategy. 
  • Change doesn’t just happen overnight. It takes time and requires a certain set of skills, so designate a change agent/architect to manage the process.    

As you can see, I had a few “Aha” moments during Jeff’s presentation. So much so, in fact, that I immediately ran out and bought his book.  I recommend it to all who aspire to be the agent of change and transformation in their organization.

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Customer Loyalty Programs for B2B

What is customer Loyalty?

The phrase ‘customer loyalty’ is strictly a marketing term that defines the inclination of a customer to choose a particular business, product or service over other available options. Brand loyalty starts when choices are made by customers and action is taken.

What is a Customer Loyalty Program?

Customer Loyalty Programs are specially structured marketing strategies focused primarily on directing consumer behavior in a target market. The program itself focuses on rewarding and encouraging loyalty among long-standing and relatively new customers of the business.

What are Benefits of Customer Loyalty Programs?

Customer Loyalty Programs are essentially the key to an organization’s long-term success. It benefits the business by aiding it to excel in the following dimensions:

  • Innovation in design of products including service products
  • Operational and executive excellence
  • Conformance to changing market trends
  • Adaptability to evolving consumer behavior

What are B2B Customer Loyalty Programs?

Many businesses devise reward programs that are aimed at encouraging customer loyalty. The major challenge that businesses face when devising an effective customer loyalty program is that of researching the key elements that drive customer loyalty. In the B2B World examples of Loyalty programs are Customer Advisory Councils or Boards (CAC) and Executive Sponsor Programs.

 

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Back to Basics: Defining a Customer Advisory Board

What is a Customer Advisory Board?

A Customer Advisory Board, also known as Customer Advisory Council, is a gathering of group of customers once or twice a year to provide a collective input about products or services offered by a company that they currently do business with.

What is the Goal of a Customer Advisory Board?

The main goal of a Customer Advisory Board is to obtain input on products and services from your most valuable customers. Customer Advisory Boards are incredibly useful in both B2B and B2C organizations because input gathered from these meetings can provide product validation and insight in the reception your product or services.

What is the Benefit of a Customer Advisory Board?

Customer Advisory Boards often yield priceless feedback for companies looking for methods to improve themselves, their strategy and, their customer retention. Companies can synchronize technology and business strategies according to the needs of the customers expressed through customer advisory boards.

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Planning Ahead and Being Prepared for Growth in 2012 - Starts Here!

Back in September, Gartner came out with their rather controversial CIO Advisory:  Four Recession and Growth Strategies That Make Sense for 2012.  Though forecasts for growth in 2012 are modest, Gartner recommended that clients plan ahead and “avoid consuming time preparing for growth should growth opportunities suddenly arise” and that “however long a distressed economic climate may last, growth will remain a top priority of CEOs and boards of directors.”

Many organizations may prefer to wait and see what the economy does, but that would be a big mistake. I agree with Gartner that organizations must be prepared to take action when the opportunity arises.

Plan ahead. Get started by attending Geehan Group’s upcoming B2B Executive Summit:Summit logo Navigating Growth & Transformation. Designed exclusively for VP & higher executives, the B2B Summit provides an intimate setting (attendance is limited to 50 attendees) for learning from a prestigious roster of speakers, including Paul Gottsegen, CMO at Infosys, Joe Austin, SVP Customer Experience at Juniper, and Brent Ahrens, General Partner at Canaan, as well as author Jim Hauden.

  • Learn how Bill Fathers, President of Savvis, helped shape the company’s international presence, increased its market share, and developed leading-edge products for the financial services, media and telecom industries.
  • Discover how John Schwarz, former CEO at Business Objects, doubled the company’s revenue to more than $1.5 billion, improved profitability, and oversaw seven strategic acquisitions.
  • Hear how Joe Morgan, CEO at Standard Register, is transforming his organization from a document printing company into a provider of communications technology.
So get started. Plan ahead by attending Geehan Group’s B2B Executive Summit and begin preparing for growth in 2012. You’ll be glad you did!  

Click here to learn more and to receive your personal invitation.


“Rarely do you find an approachable business environment that invigorates your social senses with intriguing conversations, collaborative exchange of inventive ideas, fascinating speakers with applicable war stories, and the urge to network well beyond the two days that the Geehan Group brought us all together. What I gained out of this B2B gathering of like minds expanded my strategic thinking, opened new opportunities about how marketing can make an impact, plus enlightened me on similar management challenges with realistic solutions and results.”

Greg Jorgenson, SVP Marketing, VeriSign



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