In Econsultancy’s 2018 B2B Digital Trends report, companies had stated that the most exciting opportunity for the year is customer experience. And guess what? This was ahead of content marketing and mobile marketing too, two of the focus trends from the past few years.
So let me ask you a question at this point. As a B2B marketer, how much importance do you give to Customer Experience?
Some of the world’s leading brands (be it Amazon, Apple or Netflix) boast of large market share because of the quality of Customer Service and Customer Experience they offer, across multiple touch points and channels.
What if every B2B tech company gave more prominence to how they deliver product and service experiences to their targets and customer base?
They will invariably see higher returns and revenue growth.
Here’s testimony to that: According to an earlier Accenture report, approximately 80% of B2B company executives believe that offering an outstanding customer experience is connected to generating better results. This also helps ensure that the company has a competitive advantage. But here’s a bitter truth- fewer than 25% of these companies excel at offering great CX. Besides this, B2B companies are known to lag behind their B2C counterparts when it comes to creating great customer experiences. Furthermore, it seems like B2B companies also tend to score, on average, less than 50% in CX Index ratings, compared to B2C organizations that usually tend to score between 65% and 85%.
Why is this surprising?
Given the innovations in technology, new capabilities, AI-powered tools and data playing a key role in B2B marketing today, it’s surprising to see that only 17% of B2B companies have fully integrated customer data throughout the organization. This indicates that core customer-targeting strategies are still being based more on instinct than on actual insights from real-time data.
Why your B2B needs to have an improved CX?
- More competition leads to more churn
More competition gives customers more options, leading to the potential to churn. But when customers are happy with a particular product or service, they won’t walk out on them as easily.
|Apple works great as an example here: Apple has some of the highest customer satisfaction ratings in the industry and Tim Cook reminds the world of this fact on a regular basis. Customers don't just fall out of love with their Apple devices when a newer model comes along. In short, Apple’s customers don’t churn as easily as those of other brands do. (source)|
2. Increased customer satisfaction can lead to an increase in retention
Increased customer satisfaction can also help your brand stand out from the all the noise and competition. And it can lead to increased retention. By creating an end-user experience that is going to make them want to stay longer, you can have your cake and eat it too!
3. Increased customer references
Don’t forget that in B2B, you’re still marketing to people. And word-of-mouth marketing has always been known to be the most effective. By taking customer experience up a notch, you’re opening up the path for more references from existing customers to come your way. An increase in references is half your job done.
Here are 6 simple ways that can help create empowering customer experiences for your B2B:
- A healthy balance between online and offline channels and touch points
- Paying attention to real-time customer reactions and responses
In today’s digital marketing environment, creating a balance between the online experience, overall sales and service experience, post-purchase and pre-purchase touchpoints need to be analyzed in real-time and optimized constantly for better performance.
- Make it easier for them to solve problems on-the-go, given that most of them consume content and shop on mobile devices today
- Anticipate them and their needs
Most leading brands do this using AI powered algorithms. Even leading e-commerce platforms do. Global tech brands like HP contribute to creating great customer experiences by tracking customer’s ink usage to replace cartridges before they are completely out.
5. Create a more wholesome experience by partnering with associated services and brands that they’ll like
6. Ask them what they want more of to create a positive feedback loop
How Technographics can help you plan a stronger customer experience strategy?
Engage with the right targets: As a B2B marketer or tech marketer, knowing which customer base to focus your campaign on is half the battle won. When it comes to strengthening your Account-based Marketing efforts, here are 6 ways technographics can help.
Creating relevance: Personalization and relevance is the talk of the town in martech and B2B marketing today. If you’re a technology marketer, knowing the kind of hardware and software that your target accounts use can help you cater marketing messages that have the potential to drive engagement.
Custom offers: If you sell a technology and are looking to sell to a new list of clients, when you know more about the current technologies they use, you can customize offers based on their current technology-use and plans, to get them to notice you.
Help them choose a better product: No customer wants to be hard sold to. They want more meaningful conversations and like it when a brand takes the effort to know more about their needs and preferences. Technographic data can give you insights on their current technology stack thereby allowing you to cater a marketing campaign that can be a guide for them as opposed to simple selling.
Be it B2B or B2C marketing, customer-based strategies drive growth. With the explosion of technology, creating improved and enhanced Customer Experiences is not really a challenge anymore. So maybe it’s time for B2B marketers to catch up to their B2C counterparts.
Let’s end with this quote from a recent Sensei Marketing blog where Sam Johnson, VP of Customer Service, said “In high tech, great customer success is all about going through the technology and humanizing it so that you can connect with people on a more enriched level……"