27th November 2023
"Service Does Not Drive Growth; Customer Improvement Drives Growth"
Conventional wisdom has long maintained that high-quality service leads to increased loyalty, which in turn drives growth. However according to research by Gartner this is not the case. While good service is essential for retention and renewal, it does not have a significant impact on account growth.
So, What Is The Key Factor That Drives Account Growth?
According to Gartner’s Research, it is the ability to have ongoing 'Customer Improvement' conversations. which help your customers develop their business and market performance.
Customer improvement conversations are forward-looking discussions that focus on the potential business outcomes and value that your customers can realise with your services. Rather than concentrating on the service and performance delivered these conversations pivot on the business impact that you facilitate.
"Teams that can deliver ongoing customer improvement conversations increase their ability to grow that account by 48%"
According to Gartner, three core elements underpin customer improvement conversations:
- Challenge Assumptions
Customers might not always see the full picture of their situation or the market. They might not know the risks, possibilities, or available solutions. Offering a new viewpoint can help them see things in a new light. The best way to do this is by sharing relevant data and insights and presenting them with alternative scenarios and the necessary targeted actions.
- Paint A Vision
Customers want to understand how your services can benefit them. They're looking for a clear picture of how your offerings can improve their business. Use value-based stories to show how your services match their needs and the advantages and return they can expect.
- Prove Value
Customers need to know the return on their investment. They want to see the evidence and numbers to back up the proposition, but more importantly, they want to see that the proposed actions have delivered the promised value.
Discover how to paint your vision with the Hublsoft Art of the Possible Service >
Elevate your account strategy.
To successfully integrate data-driven customer improvement conversations, you must:
- Focus on outcomes, not just services - Instead of just talking about your services and how well they perform, discuss the real-world benefits they bring to your customers. It’s about the value and results they see in their business because of your partnership.
- Demonstrate your worth - Use data to evidence your value. Show how your services directly impact their bottom line, whether boosting their revenue, improving quality, or enhancing customer satisfaction.
- Identify incremental and new opportunities - By utilising service data, proactively explore ways to refine and innovate your customers’ business using your solutions. Propose new or improved services, underpinned by a solid business case, to meet their evolving needs and deliver added value.
- Track the business impact of change - “Closing the loop” on change ensures that implemented changes lead to the desired business outcomes. It’s essential not only to initiate improvements but to monitor their progress and ensure they lead to the expected benefits. If something is not working as expected, you can suggest adjustments and take targeted actions to address the issue.
- Work collaboratively with stakeholders - Collaboration is key to improvement. Engage in meaningful dialogues with customers about their business and co-develop solutions based on their feedback - Utilise data to spotlight potential areas for growth and collaboration.
Customer improvement conversations are a powerful way to grow your accounts by helping your customers improve their own business and market performance. By challenging assumptions, painting a vision, and clearly evidencing the value delivered through your partnership, you can differentiate your company, build trust and credibility with your customers, and create more opportunities to drive account growth.
Ready to elevate your account strategy? The answer isn’t just delivering an outstanding service. It’s about shifting the conversation, focusing on forward-looking outcomes and showcasing the business value you bring to the relationship.
Contact Hublsoft today to see how data insights generated by our decision intelligence platform will revolutionize your conversations.