Today’s business landscape sees 627,000 new businesses springing up every year in the US alone. With that many businesses, it’s no wonder the business landscape has become hypercompetitive. For existing businesses, the challenge in keeping your B2B customers loyal to your brand is all too real. Gone are the days where the brand name alone is enough.
To combat this, many companies move toward bettering their customer service. At the end of the day, the way you treat your clients and their experience with your brand is a large factor in whether they decide to stick with your company or jump ship to another.
The Value of Customer Experience in Business
Your company’s products and services are largely a part of customer loyalty. However, with such a competitive market, your company needs to provide an exceptional and user-friendly experience. Banking on what you offer will not ensure client loyalty, especially in B2B where high-ticket clients can easily shift when a new and better offering may be placed in front of them.
Clients expect that their providers and suppliers adapt to their changing expectations as they themselves adapt to the changing landscape. Which means that your company needs to deliver efficient, responsive and personalized customer experience with a human-centered strategy. This is accomplished by providing clients a good experience when working with your company.
When companies focus on customer experience, they gain the trust of their clients having comfort in knowing business operations will go smoothly. This aids in building relationships, helping companies understand their clients better and in turn, convincing clients to invest more in your products and services.
Companies that employ good customer experience are able to generate revenue growth by 8.1%, which is twice the rate of competitors who don’t. Those who do not deliver a positive customer experience will suffer the consequence of losing clients. With 89% of companies expecting to compete in delivering great customer experience, companies that don’t focus on customer experience are going to lose out on revenue and client retention.
Customer experience is the new playing field for sales.
The Secrets to B2B Customer Experience Success
Companies need to have a structured vision to have great customer experience ingrained in the corporate culture. It should be part of the overall corporate strategy. To succeed in delivering great customer experience, companies need to focus on these six pillars:
Everything starts with giving 100% of your time and effort into an enthusiastic delivery of customer satisfaction and making them feel that they matter. Customers must be able to recognize the thrust to go the extra mile for their clients in the company, which can become a key point in differentiating yourself from your competitors. But commitment is more than just something that helps your customers. At the end of the day, there is a trickle down effect to your employees, increasing their overall satisfaction at their job.
A vital thing in business is delivering what you promise, and this is where some companies may fall short. Understanding and promising your clients’ needs are only one part of the story, companies need to be able to deliver on those promises—and sometimes, even more—even as some businesses become extremely demanding. Finding out what really matters to your customers and empathize and respond to those needs are the very basic tenets of fulfillment, even if it means your company needs to innovate itself.
A key experience that companies can be heavily criticized on is how simple, convenient, and hassle-free, each interaction and contact with your company’s offers. The effort that the company has put into building a relationship with their customers is highlighted in how seamless each interaction is. Poor relationship is highlighted in this area especially when your clients spend too much time on hold in calls, wasted time in repeated information, and incompetent systems, people and processes.
Companies need to be able to quickly respond, deliver and resolve issues that come up, especially in an age where quick deliveries are a premium. Being able to respond to customer needs in time is important, and being able to deliver them well will exceed customer expectations. Failing to do so is usually the reason why customers defect.
Sometimes, customers don’t have the time to wait even a few more moments, especially when a process is crucial to their smooth operations or a deal needs to be closed at the same moment. In these cases, being able to preemptively resolve issues before clients start bringing them up is a premium that will ensure client loyalty. When companies make life that much easier for their customers, customers can bring bigger business to the company.
Things change continuously and companies need to be able to roll with the changes as quickly as they come. This helps companies better keep up with their clients’ needs, especially when talking about reengineering the company itself just to keep up with both the evolving business environment and changing customer needs.
Being able to deliver great customer experience is no longer something that only new entrants need to take care of to get clients. Even big-name companies need this as the clients can easily change who the big players are if they defect from companies that they feel do not want to take care of them.
Lead generation requires an abstract mix of data analysis, brand strategy, demographic targeting, and many other tactics. To learn more about how you can enhance your B2B lead generation strategy, check out our white paper Ultimate Guide to Working with a Lead Generation Partner.