MarketStar Blog

Key Insights

• With consumers spending more time online, we see an increase in expectations for a more personalized and seamless customer experience

• When not managed effectively, online advertising is often viewed as a negative disruption in the consumer’s overall journey. This limits engagement as well as ad performance

• Fortunately, there is a way out of this–Customer Obsession!

• A customer-obsessed business model can help the industry not only create ads that inspire shoppers but also reach them at the right time

• Such an approach will help businesses stay true to their vision while achieving online marketing goals

Everyone in the ad tech industry strives to beat the competition, focusing more on features than anything else. However, it takes more than features to win the hearts and minds of customers.

Your success rests on your complete understanding of your prospects. This is how you will be able to ensure a seamless customer journey while serving your prospects with relevant content at any given time.

In other words, you need to know how to be customer obsessed.

What Do We Mean by Customer Obsession?

Customer obsession is the very core of customer experience.

Customer-obsessed organizations are always thinking of new and unique ways to understand their clients better. Such business ventures apply their knowledge and data to produce products and services that solve their customers’ problems.

Customer-obsessed businesses will focus on adding value to the customer experience.

They collect feedback regularly and ensure that client needs are a priority in every business goal. They’re more concerned with retaining and delighting existing customers than acquiring new ones.

The goal is to increase customer loyalty, leading them to become more reliant on your brand. Your customers may believe that your company is looking out for their best interests, which boosts their chances of making repeat purchases. 

Why is Customer Obsession So Important?

More than anything, customer obsession refers to a type of mindset or business model that focuses on prioritizing customer needs above everything else. Amazon and Alibaba are great examples of this type of approach.

In Amazon, for instance, customer obsession is not a responsibility that falls on any single team, such as customer service. It falls on every team. Every department needs to be customer obsessed. And that ripple effect starts from the top down.

Customer obsessed businesses:

• Prioritize retention over acquisition

• Focus on quality over quantity

• Align every department with customer success

• Analyze customer data frequently

What are the Strategies for Becoming Customer-obsessed in Adtech?

Customer obsession has never been as vital as it is now for AdTech. The industry is in a resurgence. Despite languishing in investors’ bad graces over the past few years, AdTech has suddenly shot up.

Luma’s Q2 2021 Market Report shows how AdTech deals have drastically increased year on year by more than 500%. 

Notable examples include Mediaocean’s acquisition of Flashtalking for a reported $500 million and AdTheorent Inc. combining with a special-purpose acquisition company (SPAC) to go public with a $1 billion-plus valuation.

When it comes to value, the answer is simple: Programmatic advertising or ad tech works. Publishers are in a much better position to incur additional revenue now than what they generated in the pre-programmatic era.

As the industry prepares for the future, key players must shift their focus on becoming a customer-obsessed brand and how this facet will go a long way in improving customer experience.

After all, the ad tech industry is expected to grow tremendously. The backbone of the internet advertising industry is set to grow from $438bn in 2021 to $1 trillion in 2030, as per the forecasts by Global Data.

Let’s explore a few strategies that will help you establish a mindset that is customer-obsessed:

1. Role of Data

Data should be your key pillar behind effective online marketing to provide a seamless customer experience.

With better technology available to assist us in accessing big data, the market is growing at an astronomical rate, reaching a value of $103 billion by 2027 (Statista report).

Real-time insights from this data will help businesses to create meaningful ads.

Start with combining location data with business, consumer, and contextual information to ensure that relevant ad content reaches the right audience at the right time.

2. Focus on Content

Content is equally important.

Marketers must have the ability to determine which ad is the right ad to show to a specific user without overexposing the consumer to their ads.

Predictive bidding, which leverages the power of data, can be of tremendous advantage.

This type of approach develops and implements algorithms to analyze the individual before the ad is displayed. This ensures consumers are being served the ad that is most relevant to them across their devices.

3. Speak Your Purpose

Improving customer experience will be incomplete without brands being true to their purpose. Your customers want to know what your business stands for and its driving mission.

Take Verizon for instance. The company’s vision is to deliver the promise of the digital world by enhancing the ability of humans, businesses, and society to do more and do better. It defines why they are here and who they are here for.

Once these are aligned, customer-obsessed companies must understand their customers’ needs — even before the customer has articulated them. Customer conversations and survey feedback can help you kickstart this process.

4. Being Multichannel

When customer obsession is the foundation of all your customer experience strategies, make use of multi-channel marketing to get the word out about your promotions.

You can utilize email to generate excitement about your promotions early among your current and most loyal customers.

Social media is another powerful tool for you to promote your offerings. This will also enable you to interact with customers and gather information on customer sentiment.

5. Keep Advancing

Technology and media are industries in constant flux.

To stay ahead of the competition, ad-tech ventures must keep abreast of the changes. And while successful startups keep up with changes, the most successful are always two steps ahead.

The key is to be nimble and innovative to turn challenges into golden opportunities. This will not be possible if companies don’t dream big. Allow your teams to contribute to the creative process.

6. Integrating AdTech and MarTech

Adtech and Martech do overlap but have primarily remained distinct from each other with a common goal—to provide better customer experiences.

Such disconnected systems add unnecessary complexities, making it hard for companies to know their customers well. Integrating AdTech and Martech can solve this challenge.

This type of integration helps advertisers by optimizing advertising investments while creating a 360-degree view of the customer. Additionally, companies can make use of Martech data to improve their ad targeting initiatives.

Looking Ahead

There has never been a better time for brands to leverage the new opportunities of digital advertising. And infusing a customer-obsessed mindset can help you take your digital ad campaigns to millions.

From how you handle customer complaints to the details that bring them joy, each step must be focused on how it might be perceived by your buyer.

Finally, a customer obsession focus will help you create a better stream of repeat customers who know they will get a quality product or service with top-notch customer service.

This is the second installment in our series on Customer Obsession where we look into the benefits of having a customer-obsessed mindset and how it will help businesses understand what’s motivating their customers.

Head over to our blog, On-Demand Delivery Services: 6 Key Steps to Customer Obsession and explore the six leading strategies that customer-obsessed companies can employ to recalibrate their model to deliver a smooth last-mile experience.

Do give it a read, if you haven’t, till now!

Nobody ever said enterprise sales was easy. Enterprise tech sales is one of the toughest types of sales jobs, no matter whether you are engaging in enterprise software sales, hardware sales, or cloud services. Another industry term for enterprise sales is complex selling because there are so many variables.

​​

One universal truth of enterprise sales is that deals take time to close. Enterprise applications tend to be business-critical, with a lot riding on the success of the deployment. As a result, there are lots of stakeholders, each with unique criteria and success factors. There also tend to be extensive discussions about compatibility, integration, customization, and value, making sure the solution will more than pay for itself.

​​

There is a lot about enterprise sales that has changed, especially since the pandemic. Buyers have come to prefer the digital sales process, and more B2B sales are being handled remotely. According to McKinsey, between 70 percent¹ and 80 percent of B2B decision makers prefer self-service or remote sales transactions. 

Key Takeaways:

In the midst of a rapidly changing business environment, Software as a Service (SaaS) has witnessed a boom like never before.

Key Takeaways:

While it is easy to think that they work in silos, both the customer success and sales teams have quite a few overlaps in their day-to-day activities. What binds them together is their ability to nurture relationships with their customers.

Key Insights

2020 emerged as one of the most challenging years in recent years. With catastrophic health and economic challenges, the whole world looked for ways to respond and adapt.

Key Insights: 

• Many businesses choose to ignore small- and medium-sized businesses (SMBs), setting their sights on closing larger clients 

• Businesses will benefit better by targeting the SMB market which has a shorter sales cycle and less red tape 

• Striking connections with your SMB customers will be easier if you make way for personalization and a clear communication process 

If you are selling to small- and medium-sized businesses (SMBs), you must make it an intentional part of your strategy, tailoring not just the prices but your entire approach.

SMB is a segment in its own right. Your SMB sales can only be successful if you remove barriers, understand the whys and hows of the SMB market, and adopt the right mindset to ensure success with SMB customers.

With almost 31 million small businesses in the U.S. alone, the SMB market represents a tremendous business opportunity for enterprises of all sizes.

Before we jump into effective strategies for successful SMB sales, let’s look at what the landscape is all about.

What Does SMB Sales Mean? 

As mentioned earlier, SMB stands for small- and medium-sized business.

SMB sales refers to salespeople selling products or services to this market. SMBs usually have fewer than 500 employees.

SMBs also have shorter sales cycles and cost less for salespeople to close a deal.

Since SMBs often have very different needs and customer pain points, it requires SMB salespeople to use a unique SMB sales strategy to land clients, compared to the strategies involved in any big enterprise.

7 Easy-to-Implement Tips for Selling to Your SMB Customers 

Many businesses choose to ignore SMBs, setting their sights on closing larger clients.

But, in comparison, SMBs have less red tape, resulting in shorter sales cycles. It is also easier to get in touch with key decision makers, entailing more success for your SMB sales strategy.

It is vital to keep in mind that SMBs don’t always remain an SMB.

An SMB today might grow into a multi-million dollar company in a few years. And this big enterprise will keep on using your product or service for years to come.

Let’s walk through some of the best sales techniques for SMB customers. 

1. Connect Early 

As you get down to fine tuning your SMB sales strategy, make sure to add early engagement as the first part of the process.

Interact with potential customers before you start pitching.

By making yourself available at the very start of the decision-making process and maintaining consistent contact, you will provide greater value throughout the process.

Additionally, you will be top-of-mind when the time comes for your SMB customers to make a purchase. 

2. Qualify Properly 

Qualifying leads help you to determine whether a lead fits into your ideal customer profile and will convert into a paying customer.

Lead qualification is critical to any segment that you are targeting, but more so for the SMB market. Keep the following points in mind when evaluating an SMB business: 

• Has the business been registered last week? 

• Has the SMB determined its business model yet? 

• How much funding does the SMB have? 

Such questions will help you evaluate if you are zeroing down on a SMB that fits your business. Otherwise, you will be depleting your own resource pool in chasing the wrong client. 

3. Niche Down 

Regardless of what you are selling, it won’t be a good fit for everyone.

One you have zeroed down on your ideal customer type, you can make the process even more seamless by focusing on a smaller cohort.

For instance, let’s take restaurants as your target SMB customer. Rather than simply targeting restaurants of a certain size, target those that cater to a specific demographic.

The idea is to get as specific as possible. This is how you will get to know everything about your ideal SMB profile, enabling you to sell better and smarter. 

4. Keep it Simple 

When you are fighting to make a mark in the SMB market, it is easy to get caught up in the details. But an in-depth sales pitch isn’t what your SMB client wants to hear.

Don’t complicate your pitch.

In fact, a simple straightforward pitch, with touches of personalization will be more effective for making a sale.

Present your information in an easy-to-digest, bite-sized format. Cover the facets of your product or service that your SMB leads will care about. 

5. Offer an End-to-End Solution 

SMBs require products and services that will be up and running in no time, with little or no effort on their part.

That is why you must make it clear that your solution will meet their needs without an extra investment of time or money to install and build the features.

Regardless of your target SMB, ensure that implementation is fast and easy.

When you emphasize your understanding of their need for a turnkey solution, you show that you value their time.

6. Alleviate Worries 

SMB customers tend to be risk-averse, for many of them are bootstrapped.

For SMBs, every dollar counts.

You can set your customers’ minds at ease with some easy steps listed below: 

• Offer a free trial of your solution

• Provide a money-back guarantee 

• Make way for monthly payments rather than a yearly subscription 

• Feature testimonials and case studies on your website so they have proof of your product’s features 

7. Cultivate Loyalty 

Long-term customer loyalty comes with a slew of benefits for your business.

In fact, repeat business can generate valuable referrals for you.

So, it is important for you to maintain and strengthen existing SMB partnerships.

This starts with treating your SMB customers as valued individuals. Personalize their experience with your sales team. Be patient and offer assistance at every stage of the sales process.

Whether it be pre-sale or post-sale, every engagement must be guided with the objective of providing stellar customer service and support.

Summing It Up 

To capture a meaningful and sustaining partnership, it is critical to lead with the objective of providing value for your SMB customers, and not just to create value for your business. 

A successful SMB sales pitch will find a way to help clients achieve their dreams in a manner that is honest, transparent, and respectful.

Sales enablement is the process of supporting your organization’s sales team with the information and tools they need to be successful. While this is a fairly broad statement, it involves careful planning and coordination to ensure your company has a proper sales enablement program in place.

Prosthetic patients at the Hospital das Clinicas in São Paulo, Brazil, are receiving a new form of treatment. Each patient is fitted with an armband connected to a gamification platform. The platform, designed by Accenture, uses SAP Leonardo capabilities and has several virtual reality dashboards that entertain and encourage patients as they work with their prosthetic limbs. In addition to the dashboards providing improved detecting, measuring and analyzing capability, it also makes monotonous exercises fun and infinitely more engaging. Initial findings suggest that patients who use the gamified armbands have a greater acceptance of their situation, emerge from their sessions with higher self-esteem, and make much more progress during the course of their treatment.