7 Ways to Improve Your B2B Customer Experience
If you want to be one of those laggards who can’t beat the 80% higher outperformance of customer experience centered companies, it is an easy task.
But if you want to be a game-changer in your industry and win over your competitors by having a loyal customer base (who is five times more likely to make a purchase as compared to a new user), you have to focus on creating a good customer experience for your B2B clients.
A bad customer experience not only reduces profits, but it also increases your costs because you don’t retain customers in the long run. Along with that, it forces you to continuously revamp your marketing strategy, because you keep looking for new customers at every sales cycle. Moreover, without a memorable experience, you lose out on your high network of B2B clients where referrals bring you more business.
So, what should you do? Let’s find out!
1. Seek customer retention
Considering the sheer difficulty and intricacies of getting a business team onboard as a client, you need to value retaining your customers.
Customer retention is a delicate yet high-return process, where you need to work on different aspects of your products and services to build loyal customers. The standard 8-week retention rate varies from industry to industry, but you should always try to beat it.
Retaining your existing consumers is one of the most difficult tasks in telecom industries, where the most common complaint is – ‘they are not doing anything’. If you are asking for feedback, work on it. Look at what your clients want, and move towards providing them a seamless experience. With AI becoming more popular, you could use chatbots to personalize and digitalize customer service. The more you pay attention to building your relationship with them, the better your retention will be.
The first priority should be continuous innovation and effective product management, followed by prime customer service. With customers switching brands 34% of the time due to poor service, you want to send out surveys that can give you solid information about your performance and shortcomings. Once you give the data make sure you act upon it and aim to improve your custom retention rates.
2. Train your customer support team
Statistics say that an increase in customer retention rates by 2%, can reduce costs by 10%. So, if you want to boost your profits, it is time to make the right investment in the right set of people.
Your customer support team directly interacts with your business clients for all the usability issues of your product/service. This means any inefficiency from them would showcase the lack of business acumen in your company.
Finances are a touchy subject for many; hence your team should have command over a positive language while addressing the clients. B2B businesses, especially banking, work on trust, and if you don’t build that, consumers aren’t going to be satisfied. Train and empower your customer
To prevent this situation, your team should be aware of all the products, services, and client management techniques. Conduct regular training sessions, appear as an alias of a customer to check your team’s response to your queries, and also make them feel a part of the organization. This will make them feel accountable for their actions.
3. Make use of customer support technologies
With a well-trained customer support team, you need to invest in adequate technology to help them do their job well. Using chatbots that are available 24*7 to attend to customers along with screen-share tools can make the process smooth and your team efficient.
To retain a customer, you not only have to understand their needs but also offer real-time help to solve product-related issues. With more than 80% of companies jumping to an omnichannel experience, your clients must never feel that you are not investing as much as others.
Today’s evolving consumer wants a hybrid customer service – real-time face-to-face interactions as well as AI-powered tools that solve their pain points quickly. Most B2B companies, from banking to telecom, are all incorporating customer support technologies to improve the consumer experience. The best example is the chatbots that Hubspot, a CRM software company uses to provide smoother interactions to prospects and consumers.
A website tab, a calling option, live chats, and even video calling, put everything in one place to enrich their customer experience with your brand.
4. Anticipate your customer’s behavior and expectations
Anticipation of customer behavior is a primary component of a customer-centric organization. It helps you make your strategy customer friendly even before the customer comes knocking. To do this, you can use predictive statistics and consistent surveys that can generate real-time customer information. If done right, it can multiple your customer life by 2X.
While most B2B companies are implementing artificial intelligence solutions into their consumer services, 63% are interested in using it for the identification of trends. Personalization is increasingly ranking high on the list of clients for a frictionless experience, and AI serves that purpose by segmenting your audience according to their demographics and patterns, giving you insights on consumer behavior as well as help you target specific needs.
When you are able to interpret your customer requirements appropriately; you can serve them with exactly what they want. This makes the customers believe that value them and their needs. Further, a few personalized marketing efforts can help you seal the deal. Remember, a personal touch to almost anything can work like magic.
5. Offer value
B2B customers always expect the best, especially when you are dealing with high-value clients where the financial and time investment is comparatively more than the average. Infact, a research says that about 77% of B2B clients conduct an ROI analysis before closing the deal. Thus, for 360-degree success, you need to ensure that your business is focused on value addition.
So, think innovative, look for multiple offerings, and keep upgrading your customer experience cycle. Along with that, using data technology and keeping it updated, is always a reliable way in this emerging data-driven world.
B2B clients also appreciate a few surprises, a new idea, or a new loyalty plan, anything that makes ends meet.
6. Be digitally active
With the whole world, especially your competitors going online, your reputation on the internet has become extremely crucial.
Your B2B clients should not find you missing in action or consider you as an indifferent component in the market. With 80% of businesses opting for email marketing for surveys and investing highly in online marketing, going digital is the road ahead.
With content and social media marketing making up for a lot of leads and sales, it only seems fit if all B2B industries catch up with it and implement a planned marketing strategy for their firms, more essentially, the pharma sector. They have a highly-monitored industry with regulations and standards to match, and content marketing here is just as sensitive. However, it is the only way the industry can bridge the gap between the clients and itself, while connecting to them on an emotional level and building a credible relationship.
Being online and aware, starting from a webpage to a social media blog, it gives you a 360-degree view of your customers, generates future leads while also catching the attention of the viewers. Infographics, videos, content marketing, are the key points to follow up and fast-track the conversion cycle.
7. Shorten sales cycle
Your entire team involved in the sales cycle has to not only work right but also work smart and fast. As suggested by the stats, a B2B client typically takes about 10 months to close a deal which would have been rather rounded up in 6 months.
To make a difference, your sales cycle has to be shorter than the competition, covering everything from the first click to the last call. Accelerating your sales cycle also means that you ensure it happens without reducing the quality of your end product and services.
In the B2B industry, a lot of work is based on referrals, contacts, and transparency. When you have these armed by you, and well-trained salesmen to communicate effectively along with a digital marketing plan, it increases the engagement with the consumers and prospects, leading them to believe that you are genuinely interested in business.
If so happens, the entire purpose of investing in a shorter sales period is lost. Invest in better technology, skilled labor, and use an improvement strategy.
It is time for your business to be a front runner in creating an atmosphere where experience brings customers satisfaction. Step into the 21st century and capture a higher market share by following the steps above, winning one client at a time!
Remember, it’s not enough to make a place in the client’s mind; aim to create a space in the heart and you will get to keep them forever.
Not sure about how to do it? As an expert B2B sales and marketing consulting firm, we craft customized strategies for your firm that ensure greater customer experience.
today to know more.