Oracle OpenWorld 2015 is in two months. From this week forward, I will publish a blog series on Customer Success. I have asked two of my colleagues, Amir Hartman and Craig LeGrande, to help me write these blogs. Amir, Craig, and I have been writing a book together. It's called Competing for Customers, and we've just about wrapped it up. We want to share some of our insights with you as you gear up for Oracle OpenWorld.
Competing for Customers, Blog 1: The New "As-Needed" Economy
Whether you realize it or not, everything about how you sell to customers is changing; everything about how you market to them must be rethought; and everything about how you keep customers loyal needs a fresh look.
The rise of the "as-needed" economy is having a profound impact on companies of all sizes and industries. In particular the relationship between the buyer and the seller is fundamentally shifting, with the customer in the driver's seat. This is particularly so in the B2B space. For most organizations, the sales process is turning upside down right before our eyes. Rather than paying for products upfront in a single capital outlay, customers are spreading the purchase over many years -- and constantly evaluating whether to renew their relationship with you. Under this scenario, your "sale" is no longer a one-time event. Instead, it's a "relationship" that demands continuous care and nurturing if you hope to retain your customers long-term and fully realize the value of your sale.
This leads to the central thesis of our book, Competing for Customers -- your success in this new economy will greatly depend on your ability to sell AND deliver measurable business outcomes to your customers. Indeed, we believe that driving customer value will be one of the few ways companies can attract and retain lasting customer relationships. If you're not generating tangible value for customers, you will lose them!
Are you read to compete for your customers?
Next week: Quantifying the value of Customer Success.