05:25
Faizan
A company in commodity sales is often blind to its differentiators. Firms that offer anything more than warehouse fulfillment and a convenient Web site may overlook the competitive advantage of value-added services. In this case study a supplier learned they were measuring themselves against the "also rans" in their category rather than against the industry leader, who turned out to be their only relevant competitor.
This is one in a series of case studies highlighting "Key Questions and Course-correcting 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 learn what your B2B customers think--but aren't saying. These are real-world examples of how soliciting and acting on customer feedback has helped companies hold onto customers longer, grow relationships bigger and pick up new business faster.
Case study: Switched to Value-Added Pricing
Key Question (asked of a 5-figure account): "Do you have sole-source relationships, or do you solicit competitive quotes for each purchase?"
Course-correcting Quote:
Technical buyer: "Before I started working with ReFurbished, I always bought new from the OEM. To get internal approval, I have to get quotes from other suppliers, but ReFurbished and the OEM are the only two I've bought from. My ReFurbished account manager is helpful, responsive and professional. We're a small fish to the OEM. Our contact person there changes constantly. ReFurbished gives us more personal treatment and better service. Once I was satisfied that their products were solid, I started giving them our business. I'm saving money buying remanufactured parts, and I'd rather do business with a company that knows my account."
The Client's Quandary:
"ReFurbished" sells remanufactured OEM products to big and small companies across the country. They have two dozen competitors who refurbish and sell the exact same products. ReFurbished assumed every vendor-selection decision was based on price. Instead, most customers interviewed said they only checked with one other supplier prior to purchase (usually the OEM). ReFurbished's high quality and superior account management staff won customers' loyalty.
Conclusion:
This is one in a series of case studies highlighting "Key Questions and Course-correcting 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 learn what your B2B customers think--but aren't saying. These are real-world examples of how soliciting and acting on customer feedback has helped companies hold onto customers longer, grow relationships bigger and pick up new business faster.
Case study: Switched to Value-Added Pricing
Key Question (asked of a 5-figure account): "Do you have sole-source relationships, or do you solicit competitive quotes for each purchase?"
Course-correcting Quote:
Technical buyer: "Before I started working with ReFurbished, I always bought new from the OEM. To get internal approval, I have to get quotes from other suppliers, but ReFurbished and the OEM are the only two I've bought from. My ReFurbished account manager is helpful, responsive and professional. We're a small fish to the OEM. Our contact person there changes constantly. ReFurbished gives us more personal treatment and better service. Once I was satisfied that their products were solid, I started giving them our business. I'm saving money buying remanufactured parts, and I'd rather do business with a company that knows my account."
The Client's Quandary:
"ReFurbished" sells remanufactured OEM products to big and small companies across the country. They have two dozen competitors who refurbish and sell the exact same products. ReFurbished assumed every vendor-selection decision was based on price. Instead, most customers interviewed said they only checked with one other supplier prior to purchase (usually the OEM). ReFurbished's high quality and superior account management staff won customers' loyalty.
Conclusion:
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