In this interview, Steve McDougal, VP Global Head of Customer Success and Experience at Dynamo Software /Preqin Solutions, shares his insights on why relationships are won or lost during key moments.
Delivering remarkable customer experience is not just about maintaining and keeping the relationship strong, but giving customers the time to reflect on the quality of the relationship and think through whether the brand promise has been kept or delivered
A new way of doing business
In the B2B and SaaS economy, commercial success lies in the strength of the relationships created (or developed) with the customers. In any relationship, two things are obvious: relationships are lost or won in key moments.
Simply put, not all experiences in a relationship is created equal. Organizations have to evolve from a product focus to an outcome- and an experience-based mindset.
Steve pointed out - for so many years – business has gotten "lost in the weeds" looking for the market (or needs) to fill.
“The point that many missed is to have a conversation with their target customers to understand their needs, goals, and intentions.” The “Voice of the Customers” is more than just a database of names and contact information.”
With the rise of SaaS model, organizations ensure that the culture of service and delivering “AHA” moments are recognized and rewarded.
What is clear in the subscription economy - is that the companies that win are those that obsess about customers and create the conditions where customer feedback is the building blocks for success and uphold each interaction dynamically across the customer’s journey.
Forward-thinking companies ensure that customer feedback is shared throughout all the internal touch points throughout the organization to create a continuous feedback loop to fuel innovation in product and service delivery.
Organizations need to develop a culture of service and “AHA” moments, where the relationship is recognized and rewarded.
Steve shares key considerations for making this happen:
Despite clear evidence that customers want a stronger, more transparent relationship with the brands they partner (or work together), the trend toward “proactive customer education” is still the outspoken “human touch” in the B2B or SaaS world.
“Brand experience is the heart of the relationship that was formed during critical moments and that made the difference between success and failure”. Gone are the days when you could find a need and fill it because you were the only one in the market.
Brand experience is the heart of the relationship that was formed during the critical moments
The heart of the experience is a relationship
As a CS leader, you have this great opportunity to sit and participate so that you will understand the business challenges and requirements from start to finish.
“I strongly believe having a meaningful conversation centered on the customer’s interest, business priority, oftentimes, reduces the business friction, and in the process proves to the customers that the business relationship is worth having.”
Similarly, organizations that are clear on their target experience at each stage of the life cycle are able to define their measurement and ensure the consistency of its delivery.
When a relationship is established on common values, culture and priorities, then that is the “business relationship” that is difficult to break.
All kinds of relationships are always viewed in parallel between how human relationships are formed and how business relationships develop. Meaning, there’s no kind of business partnership without sharing and partaking each other’s successes and failures.
The intention, outcome, and experience should be a win-win for both parties
“If you want your brand to win in this consolidated market, then the first step is telling them (customers) everything they need to know about who you are, and what makes you tick”.
Business relationship (good or bad) affects customer satisfaction and their willingness to keep or extending business partnerships
The relationship affects the business model and its maturity
Companies know where they want to go. They want to be more agile, quicker to react, and more effective. Yet, the sea change for B2B and B2C businesses are fundamentally transforming what “customer success” means to every customer. Similarly, customer needs have evolved from a nice-to-have to a necessity.
Since a relationship is the central tenet of today’s market landscape, transparency and trust are still the two essential human components to building a successful brand and platform.
To prevent unnecessary brand complexity, a business relationship should be as flexible as possible —incorporating the same “human touch” across multiple channels and touch points.
Case to point: (brand) transparency can be painful and uncomfortable—particularly for owning up a mistake or communicating an objectionable result—yet, this is the best way to build long-lasting relationships with your customers.
To prevent unnecessary brand complexity, a business relationship should be as flexible as possible—incorporating the same “human touch” across multiple channels and touchpoints.