Some B2B’s will capture revenue and market share as they experience growth and scale over time (some).
Product-led growth is ideal but it’s not a deal breaker in B2B selling. Begging the question, if you don’t happen to have a product like Drift, Slack, Dropbox how can you compete. That’s a good question, this isn’t about that. It’s about what look out for in your in revenue efforts and spotting funnel vision in your company.
If you’re not familiar:
Funnel Vision is when a B2B SaaS Company has a culture, leader, or sales methodology where acquiring new logos is more valued than retaining and growing the clients you have.
Being laser focused is what some executives are known for. If you think your company is showing potential signs here’s a list to get you started:
Common traits of those affected by funnel vision are:
- an obsession to relentlessly acquire new customers
- an obsession to serve prospects more than to obsess over serving existing (paying) customers
- little regard to the customer experience,
- When leadership doesn’t consider clients to be the most important asset, second only to employees
- Loose product-market fit, or comprising for short term gains
- History of overpromising and underdelivering value
The B2B Report
The avenue you chose for GROWTH will determine your fate in the marketplace. Will you thrive, survive, or die?
Major Payne shares the biggest pain of B2B SaaS Companies in under 60 seconds.
All leading B2B technology companies have one thing in common. A killer Customer Experience.
Are you building your B2B SaaS Company for the Future?
The Underdog of B2B SaaS
There’s one critically important asset all SaaS companies have — existing customers.
It’s how you manage the subscription lifecycle and experience of your paying customers that allows brands to truly differentiate themselves in today’s market.
In the competitive world of technology sales, you cannot afford to overlook the customer experience and the impact it has on revenue any longer.
Having a Customer Lifecycle Management (CLM) process in place can make the difference between churning millions in lost revenue or expanding millions in growth revenue.
What is Customer Lifecycle Management (CLM)?
So what is “CLM”?
CLM is a process and methodology used for the renewal sales motion of SaaS companies selling business-to-business (B2B) solutions.
It’s a strategic focus for optimizing your revenue function and bottom line growth.
CLM includes everything from recurring revenue KPI’s, client success teams and retention of ALL customers with a contract subscription. SaaS solutions, in B2B, are usually offered as monthly (MRR) or annual (ARR) subscriptions.
Completely customer-centric, the CLM process is used to:
- improve the user experience by establishing a cadence, or touch-point schedule,
- to strategically add value and drive adoption at the right stage with the right customer and right stakeholders.
- encourages value realization naturally and really forges true relationships and partnerships
- designed to ensure the desired outcomes of your customers is the #1 priority
- maintain, grow, and expand annual recurring revenue
How will you differentiate your product, service, and company in your market?
Actions for Today:
- Double down on how you execute and deliver a delightful customer experience immediately – even if it costs some money up front.
- It will pay dividends that compound forever.
- Repeat the first step until complete.
- Then, watch as your competitors that don’t, go belly up from ego, ignorance, pissed off clients, and a brand that’s too damaged to recover from.
Everyone loves a good underdog story. Go make one.
When you do, I would love to hear or help. You can contact me directly on LinkedIn here.
Written by Aaron Cowell