The key to your next promotion starts with understanding how to serve in b2b.
The Rise of New Leadership in Tech
In the tech community exists a rarely curated cohort of highly skilled executives and leaders. Impressive on paper and impressive in person. They are unique for many reasons. And the key to your next promotion is understanding how to serve them.
Tech leaders are unique because of the expertise they bring to the table. In the software world, depending on your ‘niche’, companies are hiring talent with the right expertise to help them compete in that market.
It’s these executives teams driving how companies innovate, compete and win in business today.
If there’s a big difference between The Lenox and other high-end hotels it’s the experience you have while you’re there (CX). They’ve mastered the B2C experience that so many B2B companies fail to do today that costs them long-term revenue: The Customer Experience (CX).
There’s plenty of high-end luxury spots and hotels in Boston to choose from.
The world of business technology has changed how we sell and buy more in the last 10 years than the last 50 years. To compete and win today, professionals in tech will have to close the knowledge gap caused by the rise of B2B SaaS.
The world of B2B SaaS has changed how we buy and sell more in the last decade than the last 50 years.
B2B professionals must pivot away from conventional wisdom and own the development and growth of their core skill set to stay competitive and relevant.
I don’t know about you but I wasn’t sent the memo. I had to learn it myself. It’s why I started The B2B Report and it’s why I’m sharing this insight with you now.
So what changed?
Three things: Cloud, Customer Experience, and B2B Vendor Accountability
Cloud: The driving force behind the buyer and seller evolution started with the cloud race. Which AWS won and still dominates. Sparking a conversation on the death of on-premise (the verdict is still out on). The cloud powers the SaaS products you know, love and use.
Accountability: The cloud race gave way to technology products being offered as a monthly or annual subscription. This shift allowed buyers to expand their product offerings and get customized or tailored solutions that didn’t break the bank or lock them into 10-year maintenance contracts.
Experience (CX): Gone are the days you can overpromise to close a deal or keep a client’s business. Every interaction someone has with your brand impacts the likelihood they will do business with your company (and recommend to others). The customer experience, or CX, is the most important aspect of your business now. There’s good news too: it’s within your control.
Today’s Tech Leader’s have the shortest path to go out and champion real change. B2B SaaS companies that plan Go-To-Market strategies around new age practices for Sales and CX will endure the long-term race to capture market share and keep it.
One of the best things you can do is to put yourself in a position to win by working at a company or for a leadership team that understands the nuances of operating a successful B2B SaaS.
Work with and for Leaders in Sales, Marketing and Customer Success who:
1) think laterally
2) practice servitude
3) invest in coaching
4) are willing to change to compete
5) lead from the trenches – they’ll get their hands dirty with you
Go work for and with people that execute and embody these 5 traits. It’s these fearless leader’s that will win the long game — not just in SaaS, but in life.
If you’re in Sales or CX and made it this far….thank you for reading. Check out or consider reading these books to close your specific knowledge gap in B2B SaaS. All highly recommended by The B2B Report.
3 Actions every SaaS leader Should Take in 2019 (and yes, you should already be doing these)
There are 3 Actions every SaaS Leader can take to remain competitive, relevant and alive in B2B SaaS for years to come.
Sadly, they won’t. However, there’s a minority that will. To those not tripping over their ego, or suffering from Funnel Vision, here’s 3 actions to take, all brought to you by th lessons I learned the hard way.
Take care of your employees first. This is your #1 asset. Do this, and your people will take care of your clients in return.
Deliverunparalleled user experiences. This is your #2 most important asset: customers.
When Earnings become more important than the experience you deliver to your customer-base, you’ve failed.
When Earnings become more important than the experience you deliver to your customer base, you’ve failed.
B2B SaaS companies rarely benefit from going public when it comes down to the customer experience (CX).
Most B2B’s focus on solving long-term problems with agile innovation. Whereas, Wall Street is focused on shorter-term metrics and quarterly returns.
All B2B companies are unique, but by far and large, it’s the acquisition of new logos (top-line growth) and the quarterly measuring stick Wall Street uses that steal the focus of executives and stifle short-term innovation.
IPO’s in tech can be a catch 22 for B2B SaaS companies. That’s why you see many companies suffer once they go public.
They get hyper-focused on the delivering strong earnings, that they lose sight of their long-term vision and mission — sometimes even the passion that once fueled them. More importantly, they forget to serve their employees and customers before they serve their shareholders. These are the same customers that helped them build their business to profitability.
This is one of the many reasons I love the idea of having a Long-Term Stock Exchange, which you can read more here.
Continue reading about the long-term strategy B2B SaaS companies must adapt to remain relevant in 2019 and beyond here.
To learn more about recurring revenue and the untapped goldmine you never knew you had, here and here