When it comes to creating context, pitching products, building relationships, and delivering core value, there are but a few platforms that trump executive briefing centers. They are crucial tools that help companies introduce customers to their vision, show off their latest innovations, and convince them to purchase products. Customers are given the chance to experience the brand and help persuade them to make informed buying decisions.
But what makes a briefing center such an effective tool? The advantages of having important decision makers and C-suite executives in a room cannot be understated. And this is exactly what a briefing center does. They form a unique way to get to know your customers and create experiences that shape the way your customers perceive and experience your product. In this blog, we take a look at three reasons your business needs a briefing center.
#1 Effects on the sales cycle
It is a well-known fact that B2B sales cycles are considerably long. A deal can typically take an average of six months to go through. And this is where having an Executive Briefing Center can come in handy. It brings decision makers, influencers, end users, and stakeholders under one roof. Creating a collaborative environment can not only provide an excellent platform to help marketers understand customer pain points and use cases, and how to customize solutions based on them.
According to a study by TBK Consult, briefing centers were responsible for cutting short sales cycles by 28%. But how does this happen? Since briefings help customers create a perception of the product through experience, it becomes easier for marketers to break barriers that typically come in the way of closing the deal. And this in turn, shortens the time taken by influencers and decision-makers to come up with a commitment.
#2 Investing in relationships
Briefing centers are a great way to get to know your customers and concentrate on giving them some much-needed attention. According to the same study stated above, 83% of attendees felt that briefings help strengthen relationships. An additional 87% of them were willing to recommend companies based on briefings they experienced. Briefings are highly customized to the customer use case and business requirements. Briefings ensure that the right people are present in a single room and create a trusting forum to talk about their business and the challenges they face on a regular basis. This makes it easier to build rapport and strengthen relationships which makes it easier to sell the product, influence an action, or penetrate the account.
#3 Success rates
Industry research suggests that briefing programs are expected to have a close rate of about 75%. The study further states that 74% of customers were willing to commit to buying the product after the briefing and 69% of them said that briefings had a direct influence on these decisions. This is mainly due to the fact that briefing center attendees are high-level C-suite decision makers. Having these executives present is highly effective as well as speeds up the process. Briefing experiences help prospects gain an in-depth understanding of the products and their applications, pushing them further towards a purchase decision.
Briefing centers help create a sense of coherence between sales and marketing. They not only increase the likelihood of opportunities being successfully converted but help build relationships and leverage these conversations for further penetration.
Briefing center management has largely been a manual process. The manager has to juggle between spreadsheets and emails to coordinate briefing visits. Read about a simpler way to manage briefing visits and maximize the impact of these experiences. Download our free white paper now!