I recently shared how this simple B2B Marketing definition can help sales and marketing executives significantly grow sales:
B2B Marketing is any action an organization takes to create or extend a buying relationship.
Using this definition as a guide, organizations can determine which marketing initiatives best support and align with the highest returns and greatest growth opportunities.
Now, I would like to show you how to build on this concept to deliver significant value to customers. Most well-established B2B companies are good at ensuring that their products and services provide customers with some benefit or value. Many organizations fail to understand how to articulate and present what their customers are really looking for: transformative value.
Let’s start again with a simple definition: Transformative value is a significant change for the better.
It’s what every prospect is looking for, and the foundational reason they would even consider your company, its products or services. They are at a certain point. Demonstrating transformative value shows that your organization, through its delivery of products or services, can take them to a higher, better, or more advantageous point.
Transformative value means creating a highly beneficial outcome for your customer. It’s unlike anything the company has achieved with previous partners.
Examples include:
- Unprecedented Savings
- Increased Speed and Capacity
- Process and Quality Enhancements
- Positive Brand Sentiments
- Significant Industry Recognition
Demonstrating that your company (e.g., a firm that provides medical device regulatory consulting services) can provide a transformative value experience needs to begin as early as possible. Prospects must get to know your company and its distinctive capabilities. As they positively engage with your brand, they will formulate a strong impression. This is what gets them excited to partner with your organization. As part of this process, you must identify where transformative value is needed, and construct a plan to deliver it.
As the B2B Sales and Marketing expert, it is your responsibility to detail exactly how you will provide this value. Industry knowledge, metrics, and case studies are several ways to demonstrate your proficiency. Don’t cut corners on proposals; do your homework, and be able to show prospects:
- Where they are right now
- Where they need (or want) to be
- How your products and services will take them to the next level
Bear in mind that it’s critical to manage client expectations. It’s easy for a new customer to want the moon and the stars – and it’s hard to temper their expectations when you are trying to close a sale. Make sure the project’s goals are in line with your organization’s capabilities and resources. It is far better to under-promise and overdeliver rather than the other way around.
Once the needle starts moving and you can identify transformative value, show your client. It’s not enough to fulfill your contract; you must continually demonstrate and remind the customer of the competitive advantages that you provide:
- What are the results so far?
- How exactly did that needle move?
- What can we do to move it even more?
Answer these questions, and you will create additional opportunities to offer products and services (upsells), further reinforcing the client relationship.
When you can’t demonstrate transformative value, your products and services are immediately commoditized. And we all know how commodity items are purchased: based on lowest price and soonest availability; not exactly the underpinnings of a quality, long-term prosperous relationship.
Customers are quick to switch providers if they’re in any way unsure that you’re living up to your promises. If you do your job well but fail to remind them, they still may drift.
To keep the partnership, always reaffirm your worth. In doing so, satisfied clients become advocates who will spread the good word about your organization, elevating your reputation, and taking your business to the next level.
Want to achieve transformative value for your organization? Give me a call at 908-534-9044, and I will be happy to share my ideas.
