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B2B marketing bucharest 2012

The presentation I delivered on 19th of April 2012 at the B2B marketing conference in Bucharest

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B2B marketing bucharest 2012

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  1. Are you realizing the full potential of your customer relations? Customer Centricity in B2B Markets

  2. Stefan Kolle (@flb_stefankolle) Welcome We’re no gurus, seminar pro’s or professors … We’re just some guys who’ve been there too (and still are)

  3. “Like an architect, we add to the vision of our clients and manage their agencies and vendors towards the desired result.” Futurelab International Hoornzeelstraat 24 3080 Tervuren Belgium T: +32 2 7338332 F: +32 2 7065772 E: info@futurelab.net We are business strategist with a passion for customers, innovation and profit We deliver new profit opportunities through customer-centricity, commercial sense and hands-on innovation 19/04/2012 3

  4. Thought leadership Recognition + 10,000 articles 75,000 regular readers • • + 350,000 readers + 10,000 followers Regular speaking & media appearances We do more than consult, we want to right what is wrong Opinionated – a desire to make a difference – unafraid to take the high road

  5. When I think of customers I think of whales We talk about them Somehow we care We even try But in the end, month’s bills must be paid FUTURELAB

  6. FUTURELAB Virtually all CEO’s consider the customer experience to be important 80% of them believe they offer a superior customer experience 8% of their customers agree Exhibit # 1 Customers are the whales of the corporate world Source: Bain & Company

  7. FUTURELAB The business hears: • This may cost money • This sounds complex • Another marketing hype • Yes, this will cost money The customer evangelists say: • They will be more loyal • Customers pay our salary • They will talk well about us • It’s important Most companies See customer experience as a “moral imperative”

  8. FUTURELAB There’s only one problem with this You get paid in Euros, Not in happy faces. “Why should I allocate precious budget to experience?” FUTURELAB

  9. FUTURELAB Our mission: A more customer-friendly world Create sustainable, organic growth (i.e. make more money) Create some happiness The next half hour How to break through this disconnect

  10. FUTURELAB The same coffee beans Cost per cup € 0.01 € 0.075 € 0.40 € 1.00 € 2.20 € 2.50 € 5.00 I haven’t got a clue! The futures market (nov 2011) in a package at the grocery store at Nespresso in a paper/plastic cup from a machine from a machine in a theme park in a cup in a big city café at a deluxe restaurant during my honeymoon with a glass of 100 year old Armagnac The good news There is an intuitive case linking money to experience

  11. FUTURELAB Discounts? You must be joking. The good news Best practice experiences exist

  12. FUTURELAB The bad news General satisfaction or marketing rethoric won’t cut it

  13. FUTURELAB When surveying the satisfaction responses of ISP defectors in the 12 months prior to their defection 80% were “satisfied” to “very satisfied”

  14. FUTURELAB In spite of a standing ovation 55% Year-to-year churn rates are normal in classical music (cc) Jorge Franganillo

  15. FUTURELAB “When it comes to customer experience we’re doing fine. All our customers are very satisfied. The only problem is that they don’t return to buy again.” Real Case European B2B brand

  16. FUTURELAB Self Reflection: Do YOU Expect Not to be Satisfied? The simple truth Customers “pay” to be satisfied

  17. FUTURELAB Enter Fred Reichheld We need something else … Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.

  18. FUTURELAB Detractors: Dislike Passives: Satisfaction Promoters: Delighted 0 1 2 3 4 5 6 7 8 9 10 The ‘ultimate’ question How likely are you to recommend

  19. FUTURELAB Customers that are so happy they are likely to recommend a company  spend more  negotiate less  stay longer as customers  are more open to upselling  are easier to service  upgrade quicker  are ready to refer to others  increase staff morale  etc. The ‘ultimate’ question – most important finding Customers who recommend you, are more profitable

  20. FUTURELAB Detractors: Dislike Passives: Satisfaction Promoters: Delighted 0 1 2 3 4 5 6 7 8 9 10 The ‘ultimate’ question – most important finding This time, there is a money link

  21. FUTURELAB The main reason This time it’s personal

  22. The main reason And its even stronger in B2B

  23. FUTURELAB Promoters are more profitable Philips used customer experience to drive revenue

  24. Disguised numbers Client case

  25. Customer Delight is “the” biggest driver of future business growth … Likelihood to Repurchase (B2B-markets) Share of Wallet (B2B-markets) “delighted customers are 5x more likely to (recommend) repurchase” “at the point of delight, there is an exponential increase in the share of wallet” Source: http://www.ipsos-ideas.com/library/dl.cfm?pdf=IpsosLoyalty_WP_Delight.pdf Customer Delight The game is not about “customer satisfaction” … it’s about “delight”

  26. FUTURELAB FUTURELAB The worst I’ve ever seen 5:1 6000:1 The best I’ve ever seen Promoters are more profitable Personal experience in 15 industries … and counting

  27. FUTURELAB Detractor 0-1-2-3-4-5-6 Promoter 9-10 Passive 7-8 ___________ RON 50 ___________ RON 250 Margin on purchase of printer ___________ RON 150 ___________ 3 10 ___________ 10 50 ___________ 1 2 # Purchases over life time ___________ ___________ ___________ # Service visits over life time ___________ RON 250 ___________ RON 950 ___________ RON 5.000 Customer Value ___________ RON 500 -/- ___________ RON 4.350 ___________ RON 500 Word-of-mouth effect (+/-) ___________ RON 250 -/- ___________ RON 1.450 ___________ RON 9.350 Total Customer Value ASSUMPTIONS • Printer price: RON 500-2500 • Average life: 5 years (warranty 3 years) • Avg. service visit: RON 50 Margin Making the case Printer case

  28. FUTURELAB Customer value increase = ROI Cost to make them happy So, how do we implement this? Breaking the CEO Dilemma

  29. 80% of CEO’s believe their brand provides a superior customer experience 8 % of their customers agree (Bain & Company) perception 19/04/2012 29

  30. FUTURELAB “Let’sgo WOOOOOWW!!” “Let’s spread love & hug” “Let’s be like Disneyland” The bottom line: with customer experience we’re We’re not talking about the fluffy stuff

  31. FUTURELAB In fact The experience IS the product

  32. This is cool! It just works I sell overpriced, underspec’d devices with poor battery life. A low performance gaming console with few titles. Defining “what is the experience” The experience IS the product

  33. CEO: I need to be sure that the strategy I want to propose will be supported by the board. “Nobody ever got fired for buying.... Defining “what is the experience” The experience IS the product

  34. FUTURELAB This disconnect is the problem Most companies roll the dice on customer experience

  35. FUTURELAB The Traditional Perspective Pre-sales Sales After Sales The Customer’s Reality Search Evaluate Try Select *** Wait *** *** *** Search * * * = Confidential Case A radically different perspective 19/04/2012 35

  36. FUTURELAB The Traditional Perspective RFP Development Delivery The Customer’s Reality Latent Problem Self- study Discuss @ office Informal RFI RFP Prep RFP … Case: Professional Services A radically different perspective 19/04/2012 36

  37. Customer Experience Management Is about managing emotions at each step of the journey

  38. FUTURELAB FUTURELAB 69% of consumers say emotions drive their customer experience Source: strategic resource development group, 2006 In B2B, the average impact of emotional motivation on loyalty outweighs rational motivation by 2:1 margin, in both goods and services Source: Synovate Meta-analysis of 275 studies, 2008 The amygdala did it Remember Experience is about emotions

  39. Remember Emotional Satisfaction

  40. Remember Emotional Engagement

  41. FUTURELAB There’s more Leave the bank with your card Have a coffee next door if you need to wait (with alerts) Friendly & smiling recruitment policy NOT rolling the dice Case: Metro Bank

  42. FUTURELAB I take care of my family, my employees and my community. Above everything I want respect and recognition for that. Structural listening: You want to dig deeper Case: a greek bank

  43. FUTURELAB Listen , I shouldn’t say this but I actually like your December events in London best, as it allows me to get in some Christmas shopping. Structural listening: You want to dig deeper Case study: a training company

  44. FUTURELAB Aren’t we already listening enough? Surveys – market research –customer feedback systems … Do you listen, or gather information to write reports?

  45. But obviously you can’t speak to everyone A structural listening mechanism

  46. FUTURELAB NPS survey Implement initiated action Prepare and analyze results Initiate Quick Fixes Execute Feedback Calls Plan and initiate concrete actions Derive recommendations for improvement Tactically close the loop Listen to each customer

  47. FUTURELAB A structural listening mechanism B2B: Look at individuals, not at accounts

  48. FUTURELAB insurance administration doctors nurses Sleep medicine & non-invasive ventilation anyone else of relevance government patients patient family Reminder: it’s not just about direct buyers Case: patient-centric management at Resmed

  49. But it can also be very simple Case: Rackspace

  50. FUTURELAB Go forth and discover this wonderful brand! Once the basics are sorted You can start activating promoters

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