We’ve all heard of “voice of the customer” feedback. What about the “voice of the prospect” guidance? A company was in an increasingly crowded and aggressive market, but had many long-standing loyal customers. They were doing something right to hold on to these accounts. They wanted to capitalize on some of the goodwill they had built up with the “friendly” customer to find shortcuts in their business development process. In this case study, at the end of the feedback interview, a longtime customer offered guidance to help one of his favorite vendors compete more effectively. He spoke candidly about what he expects from a salesperson who asks for an audience.
This is one in a series of case studies highlighting “Key Questions and Course Correction Quotes” taken from 20 years of B2B customer insight projects. All names are fictitious, but the situations are real. Case studies paint a picture of how important it is to know what your B2B customers are thinking, but not what they are saying. These are real-world examples of how asking for and acting on customer feedback has helped companies retain customers longer, grow relationships, and win new business faster.
Case Study: “Voice of the Prospect” Orientation
Key Question (asked to an SVP on a seven-figure account): “If they weren’t already doing business with you and had no prior connection to your company, what would a vendor have to say or send to interest you in a meeting?” “
Course correction quote:
Senior Vice President: “If a vendor wants to schedule a meeting with me, they should bring me something that will benefit me. For example, come with a sheet listing ten topics for me to choose from. If they’re a good match for my business, I’d be interested in three of them. I know there will be a sales pitch at the end, but by then I already got value, so that’s okay. Keep in mind that if a potential vendor is meeting with a senior executive whose primary job is not the vendor’s specialty, That exec probably won’t be up to date on the issues the vendor deals with all the time relevant to that exec’s industry I’m impressed when someone has done their homework before they approach me.
Customer Schedule:
All providers want to know how to clone their best accounts, but winning formulas (and competitive landscapes) change over time. This provider wanted to know what would work today.
Conclusion:
This “voice of the prospect” guide offers universal advice: come with gifts. Strategy is good, too: Since most decision-makers are bombarded with unsolicited requests to meet, ask your best clients what techniques work to win a 15-minute meeting with potential vendors.
Bonus: A total of 10 senior executives offered advice during this project. Here is what some suggested for successful cold calling approaches:
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“Managing with big names. It tells me you’re legit.” [Credibility]
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“Say right at the beginning of the speech what you can do to help us. It can’t be all about you.” [Relevance]
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“If you’ve piqued my interest by doing your homework on my situation and needs, ask me for an initial phone interview. Don’t expect to sit in my office for an hour.” [Brevity]
I classify projects as assessments, investigations, scavenger hunts, or rescue missions. This project was a “treasure hunt”. The challenge was: “How can we get in front of more prospects?” Their loyal customers gave them advice from the buyer’s side of the table.