The B2B world is notorious for customers regularly switching suppliers. It comes from a number of factors, including dissatisfaction in the quality of the product, its price, delivery date or service. In fact, 80% of frequent buyers say they’ve switched suppliers at least once within a 24-month period. With low customer loyalty and satisfaction, how can B2B companies build a strong customer base and increase their revenue? It comes down to delivering a high-quality and consistent customer experience.
2020 will bring customer experience into a new decade. The incredible growth in customer centricity we’ve seen in recent years will only continue to grow over the next decade, giving customers more power and companies more opportunities to grow than ever before.
Hubspot customers are acknowledged and welcomed to the website right away with a chatbot called HubBot. The bot asks a few basic questions to understand the customer and get the right human agent to connect. HubBot can answer questions and streamlines much of the overall experience.
The future of B2B customer experience can be summed up in two words: digital transformation. The move to digital has been a long time coming in the B2B space, and it has the power to completely change how clients interact with brands and run their businesses. Research has found that B2B companies that successful master digital transformation have 8% more shareholder returns and five times more revenue growth than their peers. Those staggering numbers show the power of digital transformation in creating successful, future-proof B2B companies.
Embarking on a full-scale customer experience transformation is a huge undertaking, especially for an organization as large as Cisco. The company has made huge strides recently as it evolves its customer experience to build on its existing customer-first culture.
Customer experience is a major focus of the B2C world, but it’s also vitally important for B2B companies. As B2B customers become more digitally savvy, companies need to focus on digital transformation to ensure high-quality customer experiences.
A shifting landscape means B2B buyers now have the power. The space is getting more competitive, so if a customer isn’t happy with the service they are receiving, they can take their business elsewhere. I created a CMO guide to creating a B2B customer experience, read it here
Let’s face the truth: today’s B2B customers just don’t trust you. In fact, a recent study found that 59% of buyers would rather do research online to avoid interacting with a human sales rep who pushes their own agenda and doesn’t listen.
Anyone who has been involved in a B2B sale knows how complicated and frustrating the entire process can be. In fact, CEB asked thousands of senior executives at companies around the world to describe the purchase process in one word. The results were things like “hard”, “awful”, “painful”, and “minefield”.
There’s a lot of mystery around B2B buyers—who are they, how do they work, and what do they want? The truth is that B2B buyers are just like you and me. They use Uber, they shop on Amazon, and they watch Netflix. The only difference is that they work in the B2B world, where sales processes are horrible and often referred to as minefields. Only 14% of B2B companies are customer-centric, and a lot of that is because they don’t try to get inside the mind of the B2B buyer.