Customer experience (CX) has become the main differentiator between brands. Companies are no longer competing just for product or price; now, customers privilege the experience. In fact, the brands that are succeeding are those that are embracing the latest technology that helps them deliver personalized buyer experiences at every touch point. And this is no longer going to change.
While B2C companies (Business to Consumer – sale to the final consumer) are making progress in closing the gap between what customers expect and the experiences they offer, B2B companies (Business to Business – business-to-business transactions) seem to be lagging behind. But that can change. At the end of the day, they are also selling to people. That means your approach must be humane and, more importantly, transparent. Fortunately, B2B companies today can take inspiration from the B2C companies that are leading CX efforts today.
B2B brands are falling behind customer expectations
On average, B2B brands have lagged far behind buyers’ expectations. According to a study by McKinsey & Co, B2B brands score below 50% on average on the customer experience index, compared to 65% to 85% for traditional B2C brands. Not to mention that 77% of buyers say their last purchase was very difficult or complex.
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As CX advances and improves in the end-consumer world, the expectations of B2B buyers will also increase. With more B2C brands already providing excellent CX, people will expect the same from any brand, regardless of its product or service. While consumer brands are investing in the latest technology and leveraging data to provide personalized CX, only 17% of B2B companies have fully integrated customer data into their operations. It goes without saying that there is enormous room for improvement and growth.
Now is the time to invest in CX
By overlooking the importance of CX, B2B brands are missing an important opportunity to keep up with the competition and build reducible relationships with customers. According to a report by Accenture, 50% of B2B buyers seek improved personalization when choosing suppliers online. Regardless of the market, 86% of people who receive a great experience are likely to make a second purchase. On the other hand, poor interactions are likely to drive customers away, with only 13% indicating that they would return after a negative experience.
Without a doubt, the pandemic accelerated consumer demand, and businesses in all industries and regions had no choice but to adapt quickly. E-commerce is booming for B2B companies and is projected to reach $ 1.8 trillion in the US by 2023. With numbers like these, it is clear that there is great opportunity. But to get it right, B2B brands will need to evolve alongside their consumers.
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Key B2C Principles for Improving the Buyer Journey
B2B companies don’t just have one thing in common with B2C brands, they have several! They advertise, sell, and support people. The keyword is person.
B2B customer experiences should resemble the memorable experiences people receive from consumer brands in their private lives. In fact, B2B companies that embraced a customer experience transformation similar to B2C companies saw revenue growth of 10-15%, improved their customer and employee satisfaction rating, and reduced their costs from 10 to 20. %.
Companies like Apple have already realized the importance of improving the B2B experience and have taken steps to make their business operations reflect those of a consumer brand. For example, Apple’s business website features simple, easy-to-use design, content, and success stories to aid purchasing decisions, and a special section for professional support.
Similarly, the IKEA business page offers access to chats with design professionals, online planning tools and the IKEA team. IKEA for Business. A potential customer can easily use these tools to find the right solutions and receive personalized recommendations from the IKEA support team. These enterprise sites prioritize transparent functionality and proactively provide helpful content to make the customer journey easier.
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Offer a memorable experience to B2B buyers
To deliver the experience that B2B buyers are looking for, companies must copy what consumer brands already do and focus on both an omnichannel strategy, data collection and personalization. Today, customers interact with brands on various platforms, including the brand’s website, the call center, your social networks, social media messaging applications, text messages and email. With the right tools, brands can ensure that all interactions are consistent, even as customers change channels.
This consistency across channels requires collecting the correct data to keep marketing, sales, and support teams informed of all interactions with each customer. Nothing shows more that you really care about a client than knowing all the details of their case, even before they contact you. East it’s the future of CX.
Unified data provides a complete picture of a customer’s journey so that each touchpoint can flow smoothly: marketing teams can reach a customer’s channel with information tailored to their interests; sales teams can provide personalized recommendations and support teams can provide fast and accurate service without the customer having to repeat their inquiries.
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Leveraging technology and data for the new B2B journey
Specifically: B2B buyers are people too. Building personal connections based on empathy helps build long-term customer loyalty and enhance a brand’s reputation. Delivering a B2B customer experience with B2C strategies will help companies meet growing customer expectations. For a B2B company to achieve that B2C experience, a unified platform is required that combines all the available information, so that each interaction is truly memorable.
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Shellie Vornhagen is Chief Experience Officer (CXO) at Emplifi
The opinions expressed are solely the responsibility of their authors and are completely independent of the position and editorial line of Forbes Mexico.