B2B enterprises across the marketing landscape are struggling more than ever to close deals. However, if they take an Outcome-Centric route, they will have a higher chance to achieve their goals.
B2B buying journeys have become incredibly complicated; from the customer’s constantly changing decision process to stakeholders’ diverse views and priorities. Added to that the current COVID-19 crisis has made it even more difficult to gain the trust of prospects and keep the loyal customer base.
The B2B sales methodologies have taken various forms over the past years. From selling ‘products’ to selling ‘solutions’ these approaches have helped B2B enterprises to successfully close deals. But these approaches are failing to meet the expectations of today’s prospects.
Since most B2B prospects prefer things ‘as a service’ than a direct purchase, enterprises will have an inevitable impact on customer loyalty and renewal rates when it comes to delivering the appropriate attention to their customer outcomes.
The only option for B2B sales enterprises is to come up with solutions that are focused on the revenue and business objective. One way is by introducing outcome-centric projects or services that satisfy the list of key areas such as strategic relevance, tactical urgency and delivering rapid time-to-value.
By opting for an outcome-centric approach, enterprises can align their perspective with their prospects and customers’ goals. With this strategy, enterprises have a way to assure their prospects and customers that they can achieve their expected business outcomes within a reasonable budget and timeframe.
Identifying the Outcomes rather than needs
Even though the notion of outcome-centric is appealing, it is not easy to make a distinction. Since most salespeople have become comfortable with the solution-centric methodologies it can cloud their judgment to identify the needs and outcomes.
CMOs can best explain to their B2B marketers by emphasizing the fact that the customer’s expected business outcomes play a key role when influencing their decisions. On the flip side, needs are expressed in terms of products or services features, functions, or capabilities the ‘solution’ is expected to offer. This emphasizes the potential vendor’s ability to satisfy the needs of its customers but does not necessarily guarantee that the customer will buy from them.
With outcomes, prospects have a clear idea about the positive changes in their current situation and a better future state. It provides them with a glimpse of whether or not integrating a particular product or service will lead to an achievable business outcome.
The Role of Decision Makers
Another reason why B2B marketers should focus on adopting the B2B business outcomes approach, is their targeted audience. Most c-level executives have to make decisions that are result driven and can help their enterprises thrive. Therefore, having a clear picture of what outcome they will achieve if they opt for this, can positively influence their decision in favor of the sales rep.
The Outcome gap
To elevate the urgency of the prospects’ current situation, B2B marketers must present a view known as the “Outcome gap”. It represents the perceived distinction between the prospects’ current situation and the better outcome they can expect to achieve from implementing the offered solution.
The wider the outcome gap, the more likely the prospects and customers want to take action resulting in the closure of more deals than usual.
Leaving old habits and approaches is difficult for B2B sales enterprises. But, the marketplace demands dynamic initiatives and enterprises that are willing to take risks to achieve their goals. And with the outcome-centric approach, which is still in the nascent stage, enterprises that are willing to leave their comfort zone and embrace the uncertainty, have a better chance of proliferating in the current marketplace.