When the Deal becomes Real

So, the deal has been done, the contract has been negotiated and signed, salespeople are eagerly anticipating their bonus, and the “go live” date has been agreed. Now it’s all going to be easy, isn’t it?

Er, no!

In all my time working with B2B companies around the world, I have witnessed how important the “activation” phase (sometimes called “onboarding”) is to the establishment of a long-term, mutually valuable and trust-based business relationship.

This is the point where sales and marketing promises need to be fulfilled in the reality of day-to-day operations, relationships, and usage of the product or service – at all levels – not just the buyers and decision makers!

In considering this vital stage of the relationship, my colleague Dr Mark Hollyoake’s ground breaking definition of B2B Trust is particularly valuable:

“The willingness to be vulnerable to another party and the decision to engage in actions
based upon an interpretation of their ability, credibility and the expectations of
mutual value exchange over time”

(Source Hollyoake M, 2020)

This perfectly describes the situation of a new B2B contract. The customer is entrusting an element of their value chain to the supplier, who in turn entrusts their product/service IP and expertise to enhance that value chain. Both sides are taking a risk!

Five Secrets of effective, trust-building B2B contract activation

Here are five aspects of best practice B2B onboarding that we often don’t see but will make a real difference to long-term contract success:

Ensure that relational intentions and expectations are aligned

It is vital that both sides of the relationship understand what the contract is setting out to achieve – and what it’s not!
If one partner just wants a shallow, transactional relationship whereas the other wants deep, “trusted adviser” rapport then a lot of frustration will result! This is why Dr Mark’s Trust DNA^TM model starts with Intentions
Focus on the people as much as the “project”

As per the definition above, trust is about vulnerability, and any new contract involves an element of change. In our experience there’s a lot of focus (rightly) on the mechanics of set-up or transition to the new provider, but not enough on the so-called “soft” elements e.g. communication, listening, confidence, resilience, end-customer focus, positivity. It’s also important that the people who sold the deal stay appropriately involved in its activation
Contract & Relationship – which serves which?

Contracts and service level agreements (SLAs) have a vital role in B2B relationships as they formally mitigate the risk that each side is taking. However, it’s crucial to establish early-on that the contract is the servant of the relationship, not the other way round! If one side is having to quote the contract to get anything done then you’ve got off on the wrong foot
Celebrate early wins and collaborative behaviours

As the Trust DNA^TM model illustrates, relational Intent starts to become reality in the onboarding phase, demonstrating Ability, acting with Credibility, and building Interdependence that together result in Mutual Value creation. Project milestones and outcomes are often celebrated; less so the collaborative and on-culture attitudes and behaviours that have delivered them. Highlighting the latter will produce champions for the relationship rather than passive participants. Leaders – take note – you have a vital role to play in this
Establish a method to measure and track trust

Everyone agrees that trust is vital to good B2B relationships, but most don’t establish early-on a way to assess how it is being built and retained across both sides of the relationship at multiple levels. This is where our Partner Relationship Survey can help – a proven and cost-effective approach to do just that!

In my next blog I’ll consider some distinct occurrences that stress test the resilience of the relationship, which we call “transitions”.

We can help

Do you want to get better at activating new B2B customers? Are you looking for a way to embed and assess trust within your key business relationships? If so, then please get in touch. We would love to discuss your unique challenges and opportunities.