3 min read

How a company lost an $8K deal in 20 minutes

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Lindsey Meyl
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Creating an ideal customer experience comes from clearly understanding who your customers are (ICP & Persona) and where they've been (Customer Journey & Intent).

Too often, we have a one-size-fits-all experience that leaves customers needing more, costing companies billions in lost revenue.

Case in point: I'm currently trying to purchase a plan with a well-known data capture company (please note the irony). I've bought their software in the past at another company (i.e., relevant to my customer journey), and I currently need it for a campaign (intent) we're running for my new company (ICP & Persona).

When I went to their website, I quickly set up a free account, which was helpful for me because I could get a head start onboarding their technology. The experience was fast and easy, making me want to expand my capabilities since I'd used them before. Well done!

But this is where it gets interesting...

The experience after this activation step has created lost revenue for this company. I'm a returning customer. They have the data needed to identify me correctly (i.e., customer account data and job history matched to my new account activation data).

Instead, I'm being treated as a new customer that they want to put through a typical acquisition flow. I have to talk to someone in sales instead of buying directly. And to make it worse, I can't get anyone from sales to call me back after requesting their pricing page four days ago.

The customer journey tells you so much about creating an ideal experience but also informs you how to maximize revenue. This company could have made a $8K sale in twenty minutes, but I'm researching other options since I now have to go through a sales process anyway.

The B2B customer journey is challenging.

Many dynamics are often better handled by members of your customer-facing team running the process. However, a data framework understands the signals that tell you when customer-facing people are necessary and when not.

They had the data and the right product experience, yet not combining these components cost this company money. Losing an $8K deal may not be that big of a deal, but imagine this happening with a hundred customers in a week.

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