The Loyalty Leap for B2B: Turning Customer Information into Customer Intimacy (A Penguin Special from Portfolio)
Format: PDF / Kindle (mobi) / ePub
The bestselling author of The Loyalty Leap applies the principles of customer intimacy to a business-to-business context.
Since the publication of New York Times bestseller The Loyalty Leap, Bryan Pearson’s customer loyalty approach to marketing has changed the way many organizations use their customer data. Small coffee shops and large corporations have applied the Loyalty Leap principles to effectively deliver mutual value to customers. But many readers have asked the same question: “How can I apply these lessons in a business-to-business context?”
While the principles outlined in The Loyalty Leap hold true whether the customer is an individual or a business, the application of the Loyalty Leap steps can vary. While an individual might respond favorably to one sales pitch, a large corporation with a complicated sales chain might respond very differently.
Drawing on his own experience and extensive research, Pearson helps B2B marketers avoid the pitfalls of loyalty marketing to businesses. He helps marketers segment their market into small business, large enterprise, and channel marketers, and explains how a customer loyalty plan can be adapted for each segment. Sharing case studies of successful B2B loyalty initiatives from leaders such as American Express, PHX, Teradata and Salesforce.com, he shows that B2B organizations can successfully take The Loyalty Leap.
The Loyalty Leap for B2B is a practical guide that will help you cultivate loyalty among your business customers.
why understanding the client’s buying process is so important. Large enterprises can be massive networks, often multinational, with specialized teams focusing on a range of operations that may sometimes overlap. Throw in the varying buying procedures, governance, and dynamic corporate personalities, and following the path of your client’s buying process can appear as challenging as untangling a spider’s web. But it doesn’t have to be. The key is in monitoring all that takes place from a
of business you are targeting. For this reason, let’s segment the B2B marketplace and define the three types of organizations with which you might do business: Small Businesses: By far the largest group, the small business sector is highly fragmented, varying drastically in size, management, and function. Because of this variation, microsegmenting is critical, and our approach to a service-based small business will be very different from our approach to a product-based small business.
the RFP (request for proposal) process required for purchases. Owing to their size and scale, these enterprises have much more control of the selling process and negotiating power over market terms than do smaller companies. This influence reduces the power of incentives and rewards to improve sales. Instead of focusing on these traditional measures, B2B vendors need to supplement the “rational” business levers of price and product features with strong relationship values: networks, tenure,
marketing, IBM, presentation, “Making a Fast-Start to Know Your IBM,” IBM Business Partner Executive Conference 2012, May 28, 2012, https://www-950.ibm.com/events/wwe/grp/grp030.nsf/vLookupPDFs/9-%20BPEC%20Making%20a%20Fast%20Start%20to%20Know%20Your%20IBM%202012%20CB%20Version%20May%2027/$file/9-%20BPEC%20Making%20a%20Fast%20Start%20to%20Know%20Your%20IBM%202012%20CB%20Version%20May%2027.pdf. 11. Verde Group case study, “Contact Center Assessment,” Revenue@Risk and Channel Assessment: Verde
operate. I called them the three Rs of loyalty: rewards, recognition, and relevance. These three Rs apply as well in the B2B environment. However, when it comes to engaging companies, I think it is necessary to add an important fourth R: relationships. Let’s begin there. Relationships Marketers tend to use a lot of clichés to describe a successful customer relationship: win-win, harmonious, integrated, anything -centric. Heck, I am guilty of using some myself. As hackneyed as all these