The Power of Insights for B2B Sales

"Satisfied customers leave us every day, because they know they'll be treated equally well somewhere else"

In a highly competitive business landscape, the pursuit of customer loyalty has become a crucial focus for companies across the board.

In a time where raising money is more difficult, keeping your clients happy and growing has become a bigger priority than acquiring new clients into a leaky funnel.

The question that often arises is, what truly inspires loyalty? The answer may surprise you. It's not always about offering the lowest price or the best deal or offering the best customer service, or having the best relationships. Instead, it's about providing valuable insights that help your clients thrive.

The Myth of Discounts

It's a common belief that the best way to win and retain customers is by offering discounts or unbeatable pricing. While a lower price might initially get you the deal, it won't necessarily secure long-term loyalty. If customers are solely seeking the best price today, they're likely to keep searching for the best price tomorrow. Discounts alone can make customers fickle, always on the lookout for a better offer.

The Myth of a Good Relationship

While building and nurturing strong relationships with clients is undeniably important, it's also essential to dispel the myth that a good relationship alone can guarantee long-term loyalty. A cordial, respectful relationship is a great starting point, but it's not enough on its own. Clients need to see tangible value and a commitment to their success. A solid relationship can certainly enhance trust and communication, but it must be coupled with a consistent delivery of insights and value to truly inspire unwavering loyalty. Clients may appreciate the friendship, but it's the substance and relevance of your offerings that will ultimately keep them engaged and committed.

The True Path to Loyalty: Insight

The key to unlocking customer loyalty lies in the power of insight. A comprehensive global loyalty survey identified seventeen key attributes that contribute to customer loyalty, with insight being a prominent category. This insight often comes from sales representatives, Account Managers, or Client Success representatives, and it can be a game-changer.

Top 7 Factors for Creating Loyalty

Here are the top 7 factors that drive loyalty, according to the survey:

1. Offering a Unique and Valuable Perspective on the Market: Customers appreciate when you can provide them with a fresh, insightful view of their industry and challenges.

2. Helping Them Navigate Alternatives: Clients value your guidance in selecting the right solutions or products.

3. Providing Ongoing Advice or Consultation: Offering continuous support and expertise makes customers feel valued and understood.

4. Helping Them Avoid Potential Land Mines: Alerting customers to potential pitfalls and risks can save them time, money, and headaches.

5. Educating Them on New Issues and Outcomes: Keeping clients informed about industry trends and changes can position you as a trusted advisor.

6. Being Easy to Buy From: Streamlining the purchasing process makes clients' lives easier and more efficient.

7. Having Widespread Support Across the Organization: A strong support system across your company ensures that clients receive the assistance they need.

The Value of Providing a Valuable Experience

Notice that the top five factors all revolve around providing a valuable experience to the client. These pillars should be integrated into your company's goals to ensure that the value is consistently delivered to your clients.

The Challenger Sale Model

The Challenger Sale model emphasizes the importance of challenging the status quo and offering insights to your clients. In a world where discounts are easily replicated, it's the insights that set you apart. By challenging your clients' preconceived notions and offering them new, valuable perspectives, you not only deepen your client relationships but also inspire loyalty.

I suggest to my clients to install this notion from the outset when speaking with prospects. You are more likely to convert more sales if you offer insights from the first initial call. In sales prep, you should be prepping 'what is the sales angle?' and 'what am I going to teach them?' this will increase your sales and client retention.