Forrester: To Achieve Sustainable Growth, B2B Firms Must Center Their Revenue Process On Customer Value

Rhea-AI Summary

Forrester presented new research at the B2B Summit North America, emphasizing the need for B2B firms to transform their revenue process in line with changing buyer behaviors. The Forrester Opportunity Lifecycle framework aims to align marketing, sales, and customer success functions to create meaningful interactions and sustainable growth. Customer-obsessed companies see higher revenue, profitability, and customer retention rates, highlighting the importance of putting customers first.

Positive

• Customer-obsessed companies experience 28% faster revenue growth, 33% higher profitability growth, and 43% better customer retention rates compared to non-customer-obsessed companies.

• The Forrester Opportunity Lifecycle framework aims to align marketing, sales, and customer success functions around buyer and customer needs, fostering meaningful interactions and sustainable growth.

Negative

• B2B firms that solely focus on revenue growth without considering customer value may hinder their long-term success.

• Organizations need to shift from being revenue-centric to being customer-obsessed to meet evolving buyer expectations and needs, ensuring their revenue processes provide value throughout the customer lifecycle.

Unveiled at B2B Summit North America, the Forrester Opportunity Lifecycle framework breaks through silos to align marketing programs to revenue opportunity

AUSTIN, Texas & CAMBRIDGE, Mass.--(BUSINESS WIRE)-- New research unveiled at Forrester’s (Nasdaq: FORR) B2B Summit North America, which kicked off today, asserts that changing buyer behaviors and expectations require a complete revenue process transformation for B2B firms to drive long-term, sustainable growth.

Modern B2B buyers are digitally savvy and conduct their own buying research and therefore control their own buying journeys. Additionally, 71% of today’s B2B buyers are Millennials and Gen Zers, who bring different approaches and expectations to the buying process. These shifts require fundamental change and realignment across marketing, sales, and customer success functions to break through silos and put the customer first to create meaningful interactions both pre- and post-sale. Customer-obsessed companies grow revenue 28% faster and have 33% higher profitability growth and 43% better customer retention rates compared to non-customer-obsessed companies, Forrester data shows.

At B2B Summit North America, Forrester will unveil the Forrester Opportunity Lifecycle, a new framework designed to help B2B organizations align their marketing, sales, and customer success teams around buyer and customer needs and implement revenue process transformation.

To transform their revenue process, B2B leaders should consider following the four tenets of the Forrester Opportunity Lifecycle:

• Share signals to create a unified view of the customer. Every interaction with members of a buying group produces signals that provide insight into their unique journeys. It’s imperative that these signals are gathered into a common view of the customer so that marketing, sales, and customer success teams can create consistent and coordinated interactions.

• Shift from leads to opportunities and buying groups. Opportunities represent the most accurate view of what a provider does to support a customer’s buying decision. In addition to aligning to solutions and revenue, opportunities are also a key resource for sales to manage progress with prospects, customers, or buying groups.

• Create shared customer-aligned goals between marketing, sales, and customer success teams. Historically, the revenue process has been constrained by a siloed approach to managing its key functions. Organizations need to create shared objectives to reflect that all customer-facing teams play a role in engaging with prospects and customers throughout the opportunity lifecycle.

• Create experiences that provide the maximum value for buying group members. Buyers move at their own pace throughout the buying process, with members of the group having various goals in mind. Marketing, sales, and customer success teams should all be ready to engage with buyers when they become the team best suited to showcase value for buying group members.

“B2B firms that only focus on revenue growth are hindering their long-term success,” said Srividya Sridharan, vice president and group research director at Forrester. “To meet evolving buyer expectations and needs, organizations should shift their perspective from being revenue-centric to being customer-obsessed. They must ensure that their revenue processes are designed to provide demonstrable value throughout the customer lifecycle.”

Resources:

• Download Forrester’s report, Embrace Revenue Process Transformation To Drive Long-Term, Durable Growth (client access required).
• Learn how companies can begin transforming their revenue processes to better serve buyers and customers.
• Follow @Forrester and #ForrB2BSummit for updates.

About Forrester

Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester’s proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; more than 100 million real-time feedback votes; and the shared wisdom of our clients. To learn more, visit Forrester.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240506367231/en/

Amanda Chordas

achordas@forrester.com

Source: Forrester

FAQ

What was presented at the B2B Summit North America?

New research emphasizing the need for B2B firms to transform their revenue process in line with changing buyer behaviors.

What is the Forrester Opportunity Lifecycle framework?

It aligns marketing, sales, and customer success functions to create meaningful interactions and sustainable growth.

How do customer-obsessed companies perform compared to others?

They experience 28% faster revenue growth, 33% higher profitability growth, and 43% better customer retention rates.

What should B2B firms focus on besides revenue growth?

They should shift their perspective from being revenue-centric to being customer-obsessed, ensuring that revenue processes provide demonstrable value throughout the customer lifecycle.