Without the deep and abiding trust of your customers, a long-term relationship is simply not possible. This builds confidence in your technology’s ability to work. It’s trust in you, the people behind your business, that sets the direction and creates the value. This kind of trust only exists between humans.
This level of trust can only be earned. It depends on your customers’ confidence in your commitment to their current and future success, especially when times are tough.
I was interviewing a senior executive at one of my clients’ major accounts. At the end of our discussion, I asked, “What is the greatest value you get from the company I represent?” » The manager replied: “Our salesman. He is part of our team. He understands what we need and gets it.”
If the humans behind your core customer base believe in you, as evidenced by your words and actions, and trust you with their future, you have the greatest competitive advantage and the greatest driver of customer lifetime value. CLV is the primary driver of long-term profitability, especially in B2B SaaS.
Hint: you can’t go back on that. To gain trust, you have to lead by example and be human.
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How well do you gain customer trust?
Here’s a quick survey that will identify the gaps between where you are and where you want to be to earn your customers’ trust. It is based on the seven best practices of B2B companies that have established long-term profitability and those that have not.
Where are you in relation to each of these best practices? Rate on a scale of 1 (least) to 10 (most).
- You regularly conduct qualitative research (e.g. improved NPS) to better understand your customer progress, market threats, and satisfaction with your service and support.
- There is a central resource for all team members that includes mission and vision, customer persona and needs analysis, messaging, use cases, and detailed case histories.
- You engage in an ongoing program of researching and publishing leadership content to help clients become more successful.
- Your team has deep domain expertise in your client’s market.
- Internal metrics include metrics that are critical to your client’s success.
- Incentives are based on both revenue (short-term sales) and profitability (innovation, customer lifetime value), and all team members participate.
- Key team members regularly visit client offices for meetings, strategic planning, problem solving and bonding.
If you score 10 for good practice, or 70 overall, we should invest in your business. A score of 5 to 7.5 and you have some work to do. A 5 or less and you have a great opportunity.
The heart of the problem is the heart
Let us not forget that deep and lasting trust is exclusively between humans. AI builds the platform for reliability, but then it’s us, and our willingness to put ourselves first, to invest our humanity in someone else’s success as the best way to ensure our own.
Every member of your team earns or fails to earn the trust of your customers every day. It must be a mantra. If there is a fork in the road, if a decision must be made, gaining trust is the criterion. Success is progressive and reinforcement is constant. It’s the journey, not the destination.
Everyone must lead by example. Here are three steps that will educate, equip and motivate.
Step 1: the discussion
Everything you’ve done in terms of brand, mission, vision, and positioning fits into the story of how your organization and each member of your team are focused on accelerating the success of your best customers as professionals and dedicated human beings.
This is rooted in how your customer defines success, the challenges they face, and how they describe their desired future state. This gives them reason to believe.
Please note, this is only for those who match your ICP or ideal customer profile. Those that are outside tend to be more expensive to maintain, generate less revenue, and leave sooner.
Don’t assume you already know this, because that blinds you to the reality that their success is not caused by your success. It’s the opposite.
Step 2: The walk
This is how you want your team members to act every day. It is the epitome of discourse, because it provides justification. It gives your team the knowledge to help your customers succeed with your products, your services and your humanity.
For example:
- How are they organized? Who are the decision-makers and influencers, and what do they need to succeed both personally and professionally?
- How exactly are you delivering value today, as illustrated by detailed use cases and case histories?
- How should this value be transmitted to customers and prospects?
It is best if this collection of information is published and easily accessible, such as in a pillar page. You can’t expect everyone to sing the same hymn unless you publish it.
Step 3: Put it all together and hit the road
It’s a culture change that walks and talks. You need team members to grow and internalize. In my experience, any successful change effort shares one goal: to educate the culture about the benefits it will enjoy in the future state and give it the tools to excel.
First, each team member needs to have a solid answer to the question “What’s in it for me?” » This answer, to be credible, must focus on measurement and reward, and start with a dollar sign. Money talks. Without this reason to believe, training and tools will be insufficient. Questions?
Here is the answer. This level of trust only occurs between humans. Your team should all be on the same page, working in unison and focused on improving profitability by earning trust.
