Home. Field. Advantage. The value of playing on your own stomping grounds cannot be understated. It's what every major sports team fights for on the way to a championship because of the benefits it presents. The same is true for an executive briefing center. In fact, a single executive briefing center visit can make a significant impact on your firm’s financials.

Home field advantage.

 

If you follow or have any familiarity with the sports world, you have heard the term. It’s what teams play for on the road to a championship because of the competitive advantage.

 

Comparisons exist when it comes to a meeting facility for your company and the old sports adage. In fact, a single executive briefing center visit can make a significant impact on the firm’s financials.

 

What does an EBC do?

 

  • Shortens the sales cycle.

     

  • Gives your client insight and understanding into the full spectrum of capabilities your company has to offer.

     

  • Strengthens relationships with your clients.

     

An executive briefing, by definition from the ABPM, brings together the team of key executives and stakeholders from the client and pairs with the key executives and subject matter experts from your company to have a customer focused series of discussions.  The average acceleration rate of the sales cycle as compared to the standard is at a reported rate of 33%.1. 

 

Download our Customer Success and Customer Experience Assessment Tool to assess your Customer Success readiness prior to launching your efforts.

 

How Does an EBC Work So Well?

 

Because you have a highly customized program and the right people in the room, attending an EBC visit will result in massively reducing the time to properly diagnose a problem, develop a solution to a problem, and implement the solution. You have the ultimate opportunity to fully inform your client of your capabilities and offer suggestions and referrals for other companies who can offer solutions. (more referrals for you!)

 

At the end of the day, each client will leave with clarity, confidence, and consensus on what to do, how to do it, and the expected business outcome. Face-to-face interaction is irreplaceable.  By providing a trusting forum and safe environment, you and your clients will strengthen rapport and gain a better understanding of business challenges while observing emotional drivers of key personas.

 

Research suggests that the anticipated post-briefing close rate is approximately ~75% with a 33% increase in the average deal size.  Pair those stats with the accelerated close rate, and you see results.1

 

Most importantly, the post-briefing spending is typically “new spending”, meaning attendees arrive thinking about small projects and depart with consideration of a larger project.

 

Reasons for making the trip to your new logo customers almost always includes the convenience factor, for them.  Your valued customers do not have make a trek to a separate location and avoid being out of the office where a seemingly endless pile of “to-do’s” exist.  There is nothing wrong with being considerate, however, no favors are being done for either team when surrounded by multiple distractions.

 

By taking your BDT away from the business, they now have an opportunity to work on the business.

 

It then becomes your team’s job to lead thoughtful discussion, give their team clarity on their goals, and offer solutions to the existing challenges with your product or service.  When BDT’s gather at a central location, magical things occur.  Through introspection and collaboration, oftentimes, teams realize they can’t achieve their aggressive growth goals all on their own.  They need help!

 

What are the Keys to Success?

 

  1. Having all buyers and stakeholders in the room is a must.  The group absolutely must have clarity and consensus together, preferably, with the key buyer in attendance.

     

  2. Customize the heck out of the experience.  The arrival, agenda, event, and discussion must be customized to the group.  Little things matter!  Consider serving their favorite snacks or beverages.  Add logos to the agenda.  Take a moment to research each individual before they walk into your space.

     

  3. Check your ego at the door.  You have convinced your customer to travel to you, and they have taken time out of their schedules to do so, the last thing they need is a 100-slide Power Point and avalanche of words about “you” and your company.  Be humble.  Let them speak, allow them to argue, but have their best interests in mind.  Guide the discussion gently and have their best interests in mind.

     

Do these things successfully, and watch the pipeline accelerate.

 

Download our Customer Success and Customer Experience Assessment Tool to assess your Customer Success readiness prior to launching your efforts.

 

 

Additional Resources

 

In 2017, SBI opened the doors to a brand-new, multi-million-dollar facility called The Studio, in Dallas, TX, which does not get any more centralized than that location.  Plus, everything is bigger in Texas, including the numbers!

 

Visit us in The Studio and let us help you in person. 

 

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1Source:  Decision Analyst –2015     25th Annual Multi Client Study of Executive Briefings

 

ABOUT THE AUTHOR

Melissa Valdez

Works closely with clients to 10x their SBI experience to make your number.

As the Director of Client Experience, Melissa helps clients adopt and thrive from their SBI experience.  Melissa is based in Dallas Texas at The Studio, SBI’s executive briefing center. She specializes in helping clients make your number.

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