We’ve all heard of “voice of the customer” feedback. What about the “voice of the prospect” guide? 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 the process of building their business. In this case study, at the end of the feedback interview, a long-standing customer offered guidance to help one of his favorite vendors compete more effectively. He spoke candidly about what he expects from a seller who asks for an audience.

This is one of a series of case studies highlighting “Key Questions and Course Correction Quotes” taken from 20 years of B2B customer insight projects. All the names are fictitious, but the situations are real. The case studies paint a picture of how important it is to know what your B2B customers think, but not what they say. These are real-world examples of how soliciting 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 previous 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 that lists ten topics for me to choose from. If they are a good match for my business, I’ll be interested in hearing from you.” three of them. I know there’s going to be a sales pitch at the end, but I’ve got value by then, so that’s fine. Keep in mind that if a potential vendor is meeting with a senior executive whose primary job isn’t the vendor’s specialty, that executive probably won’t be up-to-date on the issues the vendor deals with all the time relevant to that executive’s industry I’m impressed when someone has done their homework before approaching me.

Client Hours:

Every vendor wants 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 customers 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 have suggested for successful cold calling approaches:

• “Managing with big names. It tells me you’re legit.” [Credibility]
• “Say right at the beginning of the speech what you can do to help us. It can’t be all about you.” [Relevance]
• “If you’ve piqued my interest by doing your homework on my situation and my 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, treasure hunts, or rescue missions. This project was a “treasure hunt”. The challenge was: “How can we be in front of more prospects?” Their loyal customers gave them advice from the buyer’s side of the table.