Businesses continuously face increasing Sales complexity and changing customer expectations. Gradual shifts in buying dynamics, compounded by the disruption caused by the global pandemic, created an environment where the way most businesses sell no longer aligns with how the customers buy.
Per Gartner, only 6% of CSOs feel extremely confident about their team's ability to meet and exceed revenue goals.
To meet and exceed growth targets and create a buying experience aligned to customers' needs, CSOs must explore the following 4 growth areas.
1) Adjust the Go-to-market strategy
B2B Sales organizations need to shift from the traditional go-to-market strategies to a continuous, parallel engagement where Sales, Marketing, Customer Service, and Customer Success teams concurrently work to help buyers complete critical buying tasks.
This means removing the distinction between all 4 teams and consolidating all the commercial resources into a single commercial operations team.
2) Implement the 3 C's for a coordinated Customer Engagement Strategy
Implementing a coordinated customer engagement strategy means that all the information and support provided to B2B buyers must be:
- Consistent: Devoid of conflictions or overlapping data.
- Complete: Buyers can complete all buying jobs
- Connected: Guide buyers to key resources in the purchase process across all digital and human channels at every touchpoint.
With this approach, sales leaders lay a strong foundation for dynamic customer engagement (DCE). Fueled from customer data information across all the channels, DCE leverages AI to deliver customized next steps and actions to guide the customers towards the channel most likely to have an optimistic commercial outcome.
3) Build Customer Decision Confidence with a Low-Effort Buying Experience
At its core, decision confidence is nothing but the customer's belief that they are exercising sound judgment when making/completing a purchase. This confidence drives revenue growth
Organizations must focus on creating a low-effort buying experience to overcome organizational complexity to build customer decision confidence.
As reported by Gartner, when B2B buyers have higher decision confidence, they are 3.6x more likely to opt for a high-end offering instead of settling for the less ambitious solution.
4) Embed AI throughout Commercial Engine
AI plays a crucial role in managing all the operational and strategic decisions across the board. CSOs must embed AI across the end-to-end commercial engine to improve growth revenue and decision-making.
- Deliver more precise buyer insights.
- Better predict changing customer needs.
- Align everything from sales execution to channel engagements.
By prioritizing these four growth areas, CSOs can differentiate their organization from competitors by delivering a customer-centric experience that closely aligns with buyers' changing needs and preferences.
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