Understanding Who Your Customers Are Drives Business
Ralph Waldo Emerson once said, “There is no knowledge that is not power.” Think about that for a moment – he used the words knowledge and power in the same sentence. Let’s break it down:
Knowledge: the fact or condition of being aware of something with familiarity gained through experience or association; the sum of what is known; the body of truth, information, and principles acquired by humankind.
Power: the ability to act or produce an effect; possession of control, authority or influence over others; a controlling group.
So what Emerson was really saying is that those who have acquired much information about a certain topic, can influence others and produce certain expected results around that topic.
Apttus recently released the Apttus Commercial Experience (ACE) Report which focuses on B2B buying and selling activities, such as how important it is for sellers to really understand their buyers. It’s a lot like a poker game: knowledge – the ability to “count cards” and read the face of your opponents; power – knowing when to lay your cards on the table versus when to hold ‘em or fold ‘em. The data discussed in the ACE Report was drawn from an Apttus commissioned study carried out by Provoke Insights, a New York-based research firm. The study involved 1,500 B2B buyers and 1,500 B2B sellers from the United States, the United Kingdom, and Germany. This study revolves around the cause-and-effect relationship between selling and buying experiences influencing overall customer satisfaction over time.
“The ACE Report highlights the value of digitally transforming revenue and legal operations
to drive better customer retention and revenue stability”
– Frank Holland, Apttus CEO.
The conclusions drawn from this data are presented to inform and empower readers with a better understanding of how today’s sales and revenue operations can create more value for their organizations, and ultimately their customers. This is the ace up their sleeve – this knowledge gives them the power to drive results.
The Unwritten Future
Many of today’s top sellers will tell you that one of the reasons they are so successful is that they spend time building a relationship with their customers early on before the sale even closes. If you’re in sales, or any other customer-facing or leadership role, I urge you to spend time reviewing the ACE Report. It will help you to better get to know your customers and help you build relationships that will make selling new customers and renewing existing ones easier.