Business strategy: Do you bring business value?

With the year 2020 and its hardships underway, it's time for you to begin thinking about and planning for your business success for the time ahead.

Your main priority for 2020 should be to increase satisfaction among your existing customers. I see a huge risk in having focus elsewhere with not just the current situation, but also most of us will be facing a recession in 2020.

Doing business with your existing customers is one of the most substantial untapped opportunities to be able to increase satisfaction. It's much easier to do business with existing customers and to make sure that they are promoters of your company and offering than it is to hunt potential customers. I suggest that you shall focus on improving all existing relationships, on increasing loyalty, and make sure that your existing customers are more satisfied than ever before.

Below you find my main general advice. 

Realise that your existing customer's way of buying has changed and is changing. They have a vast amount of information and options at their keyboards and devices. They know more about you, your company and offer than ever before. They are also more distracted than ever by the constant buzz.

While some companies are struggling with these buyer and purchase dynamics, others are consistently beating their goals and experiencing tremendous success.

Customer value

Almost all companies claim that they focus on customer experience and customer value, but very few truly drive experiences and value.

To be able to drive value, you have to decide to create and add value. You need to bring a unique value case for each meeting and interaction by answering the following questions:

• Why is this important to your potential or existing customer?
• What is the relevance and urgency around addressing this issue for them?
• Why should they choose you and your company above all other possible options?
• Why should they trust that they will achieve the outcomes and results that you say they will?

And most importantly, do you know how it is to be them? If not, you need to change change your mindsett, attitude and way of working.

The answers to above questions can be similar across companies and individuals, and they are never identical. Each individual has unique circumstances and buying reasons. You will discover the value case for each buyer through real interest and conversations, and it is totally up to you to then be able to present a compelling value case for them in each case. 

Few companies and individuals do this, and even fewer do it well. This is your foremost opportunity in 2020 if you are willing to focus on driving real value.

Relevance

From all my experience, the main difference I see between companies that get retention sales and those who never get retention or additional sales from a customer is that the first category enlightens, guide and support them to apply new ideas and ways of working. They make life easier and create tangible results. 

Most B2B-customers are won and lost based on one key factor: People. People hold the key to business success. And if you can position yourself as not just someone representing a company with products and services, and become a valuable and trusted advisor who provides new insight, you will win more often.

Treat them like you would like to be treated

Numerous opportunities exist. Companies and their decision-makers are making strategic investments. They are open to changing suppliers, and they want to meet people who have new ideas and suggestions for what they shall prioritise and how they shall do this to make them improve their business.

Potential customers do not fall into your company's lap. You must be very proactive in your efforts to be able to generate these conversations and then provide real and unique business value.

My final advice in 2020 is: Treat your potential and existing customers exactly like you want to be treated. That is the main prerequisite to be able to bring business value.

Download the business strategy presentation

Feel free to download a presentation covering my suggested steps of what to consider when creating a business strategy. ​