Almost every business person knows that an integral part of the success of the business is customer service. A massive strength of customers also admits that this is a huge factor in brand loyalty and this makes perfect sense. Who would like to stick with a business that doesn’t do efforts to make their life easier? This is still a minor piece of the overall puzzle.
In its most basic form, customer experience refers to all of a customer’s contacts with your business throughout their entire customer journey, not just the questions they have before and after making a purchase. It begins the minute they learn about your business (whether through a Google search, social media post, or word of mouth) and continues long after they have made a purchase.
Companies that provide excellent customer service grow revenue at a rate of 4% to 8% faster than the rest of their industry. This adds up, but it is not the only incentive to put money into it. Here are some reasons why customer service should be a top focus.
The Traditional B2B Sales Cycle Has Frustrated B2B Buyers:
It is all about communication when it comes to the consumer experience. You are demonstrating your concern for your customers by assisting them with their concerns. This often covers the following for B2B buyers:
- Identifying and resolving marketing and communication difficulties
- Getting top-notch service at a reasonable price
- Sticking to deadlines
Unfortunately, B2B buying cycles are relatively long and difficult, and they are only becoming longer. In 2017, 58% of purchasers said their decision-making process took longer than the year before, because they conducted more in-depth research, used more sources, and collaborated with larger teams. By the year 2019, 77% of B2B purchasers thought their most recent transaction was time-consuming and complicated. That will not change.
As a result, the great majority of B2B purchasers are looking for a B2C experience, which is often brief and straightforward (i.e., an optimized customer experience). B2B buyers don’t care whether you are working with a new subcontractor who may not be experienced with the procedure or if the project is constrained by your business’s organizational chart. They simply want high-quality work that is within budget and fits their deadlines, and they don’t want to go through any hassles to acquire it. If you are in the industry of stretch film, search for manufacturers providing high-quality colored stretch film for your business.
Strong Customer Relationships Are Built On A Foundation Of Excellent Customer Service:
According to an old saying, only 20% of your clients account for 80% of your revenue. To put it another way, the B2B buyers who return time after time are significantly responsible for your business’s long-term success. For instance, you run a business of stretch film hand roll, find manufacturers that are profitable for your business. The consumer experience is crucial in this regard. According to research, 96% of respondents believe that the customer experience is key to brand loyalty.
People don’t stick with a business if they have a bad experience, whether it is a cumbersome checkout procedure, incorrect orders, a difficult-to-navigate website, or terrible customer support. Any hiccup will almost certainly reduce the amount of time you get to refer to them as “clients.” The offending event could be something as simple as a one-second delay in page loading. According to studies, even a one-second delay might cause a 7% decline in conversions. What gives this is possible? In a survey conducted by Search Engine Journal, 70% of respondents said that page speed influences their purchasing choice. It is what matters to customers.
Customer Experience Facilitates Customer-Centered Strategic Planning:
For making suggestions to clients, most businesses go for the most profitable option. For instance, if running a stretch roll machine business, opt for the profitable option. It is all about the return on investment, yet businesses frequently overlook the most crucial factor. Is this right for the customer? What is right for the client is right for the business, not the other way around. The route forward is a rock-solid client experience.
B2B organizations may leverage the customer experience to move their narrative away from fast conversion and toward customer-focused strategic planning. This can result in improved revenue, better client loyalty, and even word-of-mouth referrals.
It is easier said than done to provide a positive client experience, but it is worthwhile. There is a lot to think about in the world of B2B. You are not only thinking about your customer; you are also thinking about your customer’s client, and each of them has their own set of market, competitive, and business circumstances. Understanding their perspectives can help in determining which methods and approaches will be most effective in keeping a customer and closing a deal.
The Customer Experience Is Beneficial:
A pleasant client experience translates to real, quantifiable value. B2B buyers are notoriously prepared to pay a premium for excellent service. In fact, according to a PWC survey, 85% of buyers will pay more for a positive customer experience, and Forrester discovered that companies that excel at customer experience have customers who are:
- Seven times more likely to return
- Eight times more likely to try other products or services
- Positive word of mouth is 15 times more likely to spread.
To put it another way, a positive customer experience doesn’t merely result in conversions. It is also essential for a good marketing campaign. A positive customer experience is self-evident.