Gold B2B Journey Mapping™
It’s no secret that customer journey mapping is a popular and effective approach to discovering the customer’s “path-to-purchase” and product usage critical to sales and marketing strategy. A major misconception is that this can only be done for B2C businesses – when in fact it is commonly done for B2B businesses and can be more insightful for B2B businesses than B2C.
Advantages of Gold B2B Journey MappingTM
Companies who leverage Gold B2B Journey MappingTM achieve the following objectives:
- Deliver seamless, streamlined products and services integrating every department within the company
- Tailor services to meet the needs of both customers and the business
- Understand the experiences, thoughts and feelings of customers
- Create insight-rich personas that enable effective sales planning / training
- Develop compelling brand / value propositions
- Deliver breakthrough improvements in revenue per customer, customer retention and improvements in customer acquisition / servicing costs
Gold B2B Journey MappingTM is proven to deliver significant benefits. Past clients have reported:
- 20% - 50% increases in revenue/customer (or account)
- 50% reduction in customer attrition
- 40% reduction in cost-to-acquire and cost-to-serve
How is Gold B2B Journey MappingTM done?
Gold Research’s B2B Journey Mapping approach has been designed and refined along the following steps with hundreds of B2B companies in dozens of industries.
Our approach has 4 critical steps.
1. Develop the Hypothesis.
Develop the hypothesis based on historical research and the experience of cross-functional business leaders, a hypothesis journey map is developed, leveraging Gold Research’s vast experience base and knowledge. The key stages of a customer’s journey are outlined, critical moments of truth and pain points are gleaned from VoC data, market research and customer-facing employees. Research gaps are identified and a research plan is developed.
2. Engage Customers.
Key customer segments, decision-makers and influencers are engaged in both qualitative research and quantitative research to provide their perspective and validate / refine the journey experience. A variety of research methods including on-site visits, phone interviews, focus groups, digital journey capture, quantitative surveys, ethnographic studies, etc. are used to capture the right insight at the key moments of the customer journey. Key personas are captured and profiled for their influence along the end-to-end journey.
3. Define the Current Customer Journey.
The customer journey – from the customers’ perspective – is crafted in a visual manner to integrate both the emotional, qualitative and quantitative information captured during the research. This “visual” journey map is customized for different types of customers, market segments or sales groups as needed to “tell the customer journey story” in a way that is much more effective than PowerPoint decks or dozens of charts and graphs.
4. Design & Test the Future Customer Journey.
Design & test the future costomer journey based on customer pain points that need addressing, and best practices captured from customer research, the new customer journey and experience is designed. This new journey becomes the ”blueprint” for new training, marketing messages and CRM design. Quantitative research results are used to simulate the improvement in lead conversion rates, proposal win rate, NPS and other factors that drive increased revenue per customer, share-of-wallet, customer retention and cost-to-serve Knowledge Performance Indicators (KPI’s). Follow-up research is also conducted to validate the new design and expected benefits, and to further develop the business case and transformation ROI.
Every B2B customer journey project starts with a sense of discovery about what the customer’s overall objective is – as well as their experiences, what they value, what irritates them and what they would like to experience that would make them more effective. If you know what you are looking for, let us know so we can develop a customized proposal for your project. If you are curious, give us a call to discuss how to start thinking in a customer journey manner and open up new possibilities.