Awesome Experiences Create Improved Conversions

WABMARK Production

Awesome Experiences Create Improved Conversions

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B to B buyers do almost 70% of their research on-line. What this means is that the buyer who has a goal which creates a problem to solve must be able to learn what a company can offer as it relates to their desire set.? A desire set is a set of satisfactions that the buyer sees as related. The buyer is looking for clues of competency, expertness, authority and trustworthiness. Since every product cannot satisfy all desire sets, some compromise is always going to happen. What a particular customer is willing to compromise on is always a factor in decision making. Compromise is why there is competition. We do it every day.

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So, the experience that companies can influence starts on-line unless you have a recognizable brand. If not, your homepage needs to point search engines to it with key words on the subject, or the problem to be solved. This is very hard to pinpoint because language used to describe what customers are looking for or the problem the product solves within a habitual set of procedures that creates a desired result can vary. Research can be done with current customers who are both knowledgeable about the subject and ones that are not.

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So, it starts with an active desire or goal of a prospect. Their search will likely start on the internet to look for and search for a consideration set of producers of the service or physical product. (sometimes they are both) Now search could be an amalgamation of internet search and in many cases field sales folks who contact possible prospects. In any event information will probably still be downloaded or viewed on-line. Knowing the market trends, and frequent updates of the site are very important to providing up to date information on trending technology or product innovations that could get interest going in the process. Vague rah-rah statements and pretty pictures do not cut it. This used to work, however with the ease of comparison provided by the internet, buyers can create criteria from the messaging being done.

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The prospect gathers information and compares the benefits associated with each offering and compares it to their desire set to be satisfied. (with some compromise) They create a list to further investigate the alternatives. With this they develop some logic and emotion to select the alternatives. Emotion comes into play as well as familiarity if relationships have been established through ABM (Account Based Management, ‘Belly to Belly” calls) It also works the other way as well. (unsatisfied previous procurement experience, or poor relationship due to activities from past) They (the prospects) develop a strategy to pare down the alternatives.

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Prospects learn how to categorize products-services. Within each category prospects attach meaning and associations with the offering developing perceptions. Customers then learn how to evaluate the differences of the offerings and form preferences. Finally, they learn how to choose using logic, if it’s an expensive purchase, and more emotion if not a major asset purchase. Note: Perception development is not finished. More perceptions are developed as people engage. If a relationship has been established, the barriers to entry are high, and some attribute in the product offering must really stand out to achieve attention.

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So, what are these perceptions? They notice, in part, some of the areas mentioned earlier. They look for substance that applies to their needs set. Criteria is developed through anchors that can and still are used that signal competency and expertness in the subject matter being researched. Number of years providing solutions, current advancements of technologies, or functional attributes that points to efficiencies, availability (delivery time) and affordability can be used. Using current customers or past successful projects that really solved a unique situation is one way to communicate competency. (case studies) Engagement with prospects takes place on your website and takes place once personal contact has been made to discuss the active desire currently evoked. Various thoughts

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Now whether it is a visit to a customer’s home court or as it is becoming more prevalent, a “TEAMS” meeting becomes personal contact. More noticing begins. Are they listening to me? Do they respect my specific request? Do they respect my viewpoint (empathy)? Once engaged do you understand the problem-the goals? Do they trust what you are saying or recommending? Most importantly, do they make me feel important? Is a sense of urgency displayed after the meeting? How much friction is there to get my first request to be able to evaluate? If chosen in the consideration set to be chosen to be spoken to (after internet search) is an accomplishment. No company has a lock on a position or provides something that is so close to a customer’s desire set that they are indispensable. (Some companies give off an air of arrogance which can be picked up during engagement and in most cases are dropped from the current consideration set.)

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This list that is going on during engagement to some seems ominous. Seems like an impossible list to score an “A” in on each point. However, atoning to some basic human manners can be a good start.

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Respect for others time, other’s opinion, and personal goals. Get rid of arrogance. You are not that good. A technical or product advantage is easily copied in today’s information wild west. People want execution on their terms. ?Prospects with an active desire have choices. Prospects have arrived at this moment at your doorstep due to some good attentional and interest communication. What is all of this? It’s an experience.

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It is not complicated. Prospects are experiencing a dopamine high during the anticipation phase before the personal engagement. They have hopes and dreams of a smooth continuous process that will check the boxes of the desire-set being sought to be satisfied. It can be easily turned into negative dopamine which when this happens, you’re done, bye -bye! Good chance if they have a future need, you will not be in the consideration set. They have learned and filed it into a category in their memory. The category you do not want to be placed in.

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A word about anticipation. This is an emotional state with strong implications for decision making. The brain is in a state of euphoria with many expectations and advanced hopes of satisfaction and most importantly a connection. Without this price will become the sole determinant of their decision. The experience must be frictionless and enriching both technical and emotional.

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So, what is the scary thing we all don’t want to talk about. The negative side of any transaction, the cost of acquiring the desire set. (as close as possible) If we always try to remember, what you are selling is not a product, you are providing a piece of evidence that completes a habitual set of procedures that creates a desired result for the procurer, price is not a negative thing. If the value being provided is better than other alternatives both like product configurations and others that could satisfy with a different configuration. (need is a gloss finish with good UV resistance (simple set of satisfactions to be solved) can be satisfied with a 2K polyurethane, 2K Acrylic Urethane, or 2-part epoxy silicone.) Now price is a component of any transaction but should never be discussed until a final product has been decided on that the procurer sees as meeting the desire set as close as possible.

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In a recent campaign followed and observed at a client’s prospect, one of the participants on the client’s side who had the propensity to focus in on price and cost, brought it up early in the process, and the final product configuration (attributes added to core function) had not been established. Price of course has more than a monetary meaning. How available the product is a price. How available is the time it takes to get the satisfactions sought is a price. What is the possibility of dissatisfaction is a cost. How much learning will be needed to get the satisfaction sought is a cost. How much does the customer give up on the desire set to buy your product relative to the next best option. (design compromise)

Without all this in the offer the price is not established. Thus, shut up and listen to everything first then establish the “complete” price.

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In following up on this specific engagement which my client did not get, it was discovered that the client spent a much higher amount than initially discussed. It boiled down to the simplicity of changing and low learning costs in use and perceptual. However, this was not brought up until the goals and objectives were established. The other vendor was perceived as being “easier to collaborate” “better follow-up” than others. They got to this point to get to follow up and collaborate by providing a better first impression or experience that as described by the customer as “hopeful” “encouraging” “less dismissive” and gave the feeling of wanting to help and not so “get this off my plate” attitude. The CEO was shocked at this feedback.

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It's all about the experience. We have become an experiential society. From business to consumer goods people just want to feel good and have a good time. A prospect is a company’s valued asset. It grows both the top and bottom line by acquiring them. Why not create experiences that are rather simple to do, and as human beings should be common behavior. Due to the many biases that influence our behavior an altering of perceptions, thoughts and goals should be considered. Training in the behavioral sciences should be considered. In essence a good personal engagement experience can be done with simple atonement to the following:

1.??????? Be aware of possible dismissive communication you routinely use due to certain biases and habits.

2.??????? Respect other opinions and knowledge of the subject matter.

3.??????? Throw any possible arrogance out the door. (You are not that good and there are better more polite alternatives)

4.??????? Stay away from the negatives. (Your limitations, Cost is high, Your Perspective, your biases towards the importance of things, attributes and results involved) These are determined by the buyer and not you. Many times, we think we are doing them a favor, but all we are doing is providing fodder on why not to deal with you. A customer’s goal is a problem to solve.

5.??????? In situations where it is an “exploratory engagement” the positive experience will come from hope and future vision, (picturing a better tomorrow) given in the communication. This usually starts with the prospect using the words “We are looking into the possibility” We are looking into do we do the same thing we are doing now or…. (your solution) Like my client they go into the “price is”, or ‘it’s kind of pricey”, or ‘It’s going to take a long time for that”. The message here is: They did not ask what the price is, the client establishes what pricey is, shut up! Also, the client determines what an acceptable length of time is to accomplish something.

6.??????? If the “What is a ballpark” question is asked, it needs to be done in a strategic fashion. Taking a list price, throwing out numbers of products that are like what is being discussed (Core Products-Configurations) without disclaimers initially can keep the Collaboration going. In some cases, if the total spend is high some discussion may ensue with their colleagues. Cost-benefit analysis for change may need to be done.

7.??????? “We know what we want we need a price on this” With a statement like this a dismissive, arrogant person would open their price book and say here it is or ask some pertinent questions in the context of the engagement could be asked. What I mean by this is finding out the goals that hopefully can be accomplished with the trading of money for product. In an engineering type situation, the seller can look at the request and determine if the goals can be achieved with their thought process. To be careful in feedback wording is important. Now you can bring out your experience and perspective if their perspective may fall short, without being arrogant and pompous. This is always a good opportunity to collaborate. A word of caution. If friction arises about what they want and what cost is what they are interested in, then hopefully one can be presented. If you lack this ability, then a revaluation of your value stream activities needs to be looked at. (Another subject)

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In a nutshell, it is not your perception that matters. Again, shut up.

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The chosen company in any consumer or business purchase provides the less frictionless path to desire set satisfaction. The experience (from awareness to engagement) can determine the outcome of the initial encounter (conversion) or the possibility of future consideration (It all matters). (The category humans catalog experiences in their brains) Being positive goes along way for current and future possibilities. People notice sincerity in mannerisms, communication, and actions. The experience a prospect has decides what category you go into and future business possibilities. As businesspeople prospects coming with an active desire to us that fits the characteristics of our offering to solve a problem, are malleable. Once the rules of engagement are established, details disclosed, and goals understood, the solution from our experience can be shaped to apply to our strengths and to the active desire of the prospect. If you shut up, they will buy!

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In future discussions on creating awesome experiences, details of what to do and what not to do will be unveiled for the customer journey. Some were discussed above but more to come. The biggest one is the prospect perspectives matter not yours. Your initial thoughts without discussion do not matter. The adage listens to understand, not to speak (again I cannot emphasize this too much, SHUT UP!) applies. What matters is that the prospect is shown respect and a seamless, frictionless path to desire set satisfaction is provided.

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Value stream activities are what is done to provide what is hopefully valued from the perspective of the targeted segment. This differs for companies who make a standardized product and customize other attributes associated with a sale to one who customizes the actual physical product. Sales and marketing play different roles and are positioned differently in the value activities.