Customer Engagement as the Cornerstone to Sustainable, Predictable, Profitable Growth

Thursday, October 27, 2011 by Rob Urbanowicz
Are you a B2B company looking to achieve sustainable, predictable, profitable growth (SPPG)?  Referencing The B2B Executive Playbook by Sean Geehan, SPPG is the holy grail of goals for any B2B organization.  Throughout my career, I’ve observed three fundamental elements that will enable the realization of SPPG for B2B organizations:  Market Driven Strategy, Customer Engagement and Internal Alignment.  
SPPG
Customer Engagement is the key to transforming the organization to drive sustainable, predictable, profitable growth. In the B2B world, customer engagement is the fundamental leverage point that allows an organization to foster two-way communication and connect the organization to the heart of its success - customers and sales.  During the sales process, and subsequent working relationship with customers, there are countless opportunities to engage with decision makers for dialogue - both outbound (ie. awareness and selling) and inbound (voice of the customer and market insight).  With the right environment and process, customer engagement is the cornerstone to gather insight that drives a market driven strategy and internally aligns the organization for success.

For the B2B Company, the magical moments that lead to company transformation are found within the engagements where decisions can be vetted and committed.  These successful customer enagagements primarily begin with a customer advisory board. Additional B2B customer engagement programs are needed to deliver other successful components: Breadth, Depth and Engagement Type.

business meetingBreadth:  The breadth of customer engagement in the B2B space is all about how broad your reach is to touch and engage your customers.  A domestic based company would need to reach all corners of the US to drive success of customer engagement.  Likewise, an international or global company would need to cover the corners of the earth.  Key decisions need to be made in those markets where you must invest to be successful.  Do you open an office in Dubai because it’s a hot market?  Do you focus on specific verticals to target and align to your regional or global breadth?  The breadth of the markets you focus on should align to the company strategy and growth opportunities. 

Depth:  The depth of your customer engagement programs includes the levels of engagement you have within your accounts.  We typically see that B2B companies engage with their customers at three distinct levels: the user level, the operational (influencer) level, and the executive (decision maker) level.  Customer Engagement at each of these levels requires different approaches.  For instance, a User Group meeting in Las Vegas won’t be a place to invite executive decision makers however, an industry trade show focused on an operational process would be a great place to meet and engage influencers.   Executive/decision maker programs in turn must be well thought-out, planned and executed to perfection to engage the right audience in the right manner…and ensure that they will return in the future.

Type:  The type of program refers to the engagement being on a 1-1 basis; a 1-few basis; or a 1-many basis.  Examples include:
  • One to One:  Executive Sponsor Programs; Account Based Marketing; Account Based Innovation; Major Account Programs, etc.
  • One to Few: Roundtables, customer advisory boards; CEO dinners; small summits
  • One to Many:  Conferences, trade shows; summits; industry or partner events
In determining the type of customer engagement, careful consideration should be taken to determine the most effective method to reach your targeted buyer, advance the positioning of the company, gain both insight as well as get your message delivered. Each of these programs require levels of structure as the complexities of the programs can vary.  Our research has found that the top programs for advancing sales are executive summits while the top programs for driving retention and loyalty are executive customer advisory boards.

If you and your company are on the path to drive sustainable, predictable, profitable growth, an advisory board is a great place to start your journey and customer engagement approach.  If you’re a company that already has these programs or elements of these programs in place, often clearly defining and rationalizing the value of each program is important.  Making the most of every initiative is what separates good companies, and good marketers, from the average.

The Devil is in the Details

Friday, October 21, 2011 by Amy Spahn
I just returned from an Executive Summit in Boston that had a full agenda with keynote speakers, panel discussions and interactive sessions with attendees. The planning and time dedicated to its success started well before the October event ever occurred. The all hands on deck approach was critical to ensuring every detail was taken care of, from the name badges to the on-site preparation with participants. devil

I wanted to share a few insights that might help with the initial planning for your next Executive Summit. In order to make your event something memorable for attendees, creating a brand for the summit and maintaining a personal touch throughout the event are areas I wanted to highlight.

Creating a Summit Brand

The selection of a summit name, associated graphics, colors, etc should be at the top of your priority list. Each of these items drives the overall summit brand and every piece of collateral that is created for the event. You want to create name recognition for the event, which perpetuates conversations about the summit long after the event has concluded. The summit brand is also extremely important if you decide to continue hosting summits into the future. Think about the brand recognition that events like Oracle’s OpenWorld or SAP’s Sapphire have within the IT space.

Maintaining a Personal Touch

The Executive Summits I have attended each included 50 attendees or less allowing the sponsoring company and each attendee to spend quality time networking and getting to know each other on a personal level. The smallest details around the attendee experience will ensure a connection is made with everyone. The connection begins with the personalized invitations and doesn’t end until a hand written thank you note is sent to each attendee.

What can you do to make your summit experience more personal?

How to Get Attendees Talking!

Wednesday, October 19, 2011 by Karen Penney
I realize I've written about this before - the importance of dialogue among attendees during meetings - but once again I've seen the positive results first hand.  I just returned from a very successful  Executive Summit.  What made it successful?

Attendees had the opportunity to have small group discussions on relevant topics.

You might think that's a "no-brainer" but you would be surprised at the number of leaders who think they should "present" at meetings.  They have much to say about their company and the great things they can do for customers and prospects, and often overlook the benefits of listening to what "the market" is saying - or the Voice Of The Customer.

People talkingBy "teeing up" the discussion and actively listening to the conversations among your customers and prospects, you will better understand the biggest issues they struggle with in their businesses.  It gives you important insight to develop more relevant solutions and, in turn, gives the attendees a chance to learn from one another and share what has worked for them, what hasn't worked, and why.

We find Peer Interaction to be one of the highest rated benefits of participating in Executive Summits and Customer Advisory Board meetings.  Don't make the mistake of dominating the discussions at your next meeting.  Be sure to include time for peer-to-peer dialogue and exchange.  You'll be viewed as a "listener" and you attendees will rate the meeting as a more valuable learning experience, worth their time. 

Driving Market Awareness

Friday, August 5, 2011 by Karen Posey

A common challenge executive's face is building awareness in the market about their organization or a new solution to drive sales. In the B2B world, one way to drive market awareness is through Executive Summits.   Executive Summits traditionally consist of a compelling keynote speaker that focuses on an important topic, one or more case studies from strategic customer(s) and a few sessions that stimulate thought and conversation. This creates an environment where the participants are talking 80% of the time. 


Typically, marketing events focus on the end user or even the influencer but the real opportunity is focusing on the decision maker.  In order to attract decision makers to your executive summit you need to create the right environment to entice them to attend, especially if you don't have name recognition.  Securing compelling keynote speaker, focused on a relevant topic, will make all the difference in attracting attendees because the use of a strong keynote will position your organization as a thought leader. 


Another option when planning an executive summit is to leverage an influential industry group (i.e., magazine or industry group).  This will help you to broaden your reach of decision makers in a more efficient manner (working smarter vs. harder).  Once you have speakers identified you need to think about the number of attendees you want at the event; more is not better in an executive summit.  Executives like a more intimate setting where they can have access to the keynote speaker, network, and really participate in the event.  Creating an intimate environment with no more than 50 people will allow you to do that. 


We recently executed an executive summit for one of our healthcare customers that did not have name recognition with their decision makers.  Their primary contacts within the hospital were with material management and procurement.  They knew they needed to get to decision makers in order to change the perception of their company and their brand.   They wanted to focus on patient safety and invite Chief Nursing Officers and Chief Medical Officers.  


This is where focusing on an influential group such as a trade publication gave them leverage.  They partnered with an influential magazine within the healthcare market and spoke to their editor about what they were trying to accomplish.  The editor was so impressed when she learned about the keynote speaker and the intimate environment to learn and share (80% participants talking), that she was energized to help them recruit key industry leaders to be on a panel discussion based on her own relationship with these individuals.  This gave our customer the start of the ground swell they needed. 


Our customer decided to leverage two panels which now gave them access to eight creditable executives.  Once they locked down the keynote speaker, leveraged the editor of the magazine, and recruited the panelist, the panelist were able to invite two peers in similar positions. They were now on the path to success.


An additional element that added to the success of the event was the use of social media tools such as LinkedIn and Facebook.  This enabled the head of the business unit to personally invite people as well as post and share updates to the event. 


The event was a huge success.  Our customer's goal for this event was to build awareness, executive relationships, and form a clinical advisory council.   They achieved the following:


·         50 healthcare executives in the room that saw our customer's organization as a thought leader


·         Attendees rated the Summit as the best event experience ever


·         100% of the attendees want to be involved in future events


·         Created solid candidates for their Healthcare Advisory Council


An additional benefit for our customer was that their internal leaders who attended the event also got to see first hand that they can be relevant with executives, which helped give them the overall confidence they needed to make some key decisions about where they wanted to go in the market.  


If you are serious about driving market awareness and growth at an executive level conducting an Executive Summit is the way to go.   Our experience continues to show that when Executive Summits are done in conjunction with an Executive Advisory Council, the results of increased brand awareness, revenue, and executive relationships accelerate even faster.

Why Change B2B Customer Marketing Strategies???

Tuesday, August 2, 2011 by Rob Urbanowicz
I was listening to Sheryl Crow tunes Friday night with some friends as we were throwing back a few cocktails.  As she was jamming away we couldn’t help but echo a few of the lyrics.   The next morning one of her top singles “A change will do you good” kept ringing through my head… Great tune…

Then, as I sat down and sifted through some of my weekend reading I came across a CMO survey and article addressing B2B strategies that focused on 2011 iNo Changenitiatives. The article stated “After supporting too many random acts of Marketing in past years that did not effectively drive business forward …marketers are getting focused…” (BMA CMO Council Marketing Outlook 2011).

I found it interesting but not surprising that B2B Marketers that jump from marketing campaign to sales program to marketing campaign are finding that their results aren’t delivering value.

In the B2B space, where relationships are critical to success, change can be catastrophic.  So why would a B2B Marketer feel the need to change approaches?  Building relationships and loyalty with top accounts in the B2B world takes a long-term commitment to stick with the programs that work.  That’s why Springer has been so successful with their B2B customer advisory councils and executive summit programs. They've found a proven customer advocate program and executive engagement formula and have stuck with it year after year which in turn delivered results and sustainable, profitable growth.

Sometime’s change isn’t so good. Maybe we need to go back to Bob Seger…”It’s still the same…”