The most significant business component of any startup in the B2B, customer experience is the most valued element which many of the manufacturing brands and SaaS most of the times miss. Even though the majority of the times, the customer experience might directly affect the sales and revenue, a more first-hand sales initially and the future of those which can be connected directly might be disrupted.
The possible contact which most of the customers get when dealing with any brands in B2B is from their indigenous exposure through the value proposition and messaging. It can disrupt the revenue eventually.
Customer Experience – What is it?
Many people ask this question. What exactly is customer experience? Not a bad thing to start on a topic which is most likely to be unfamiliar to many of the mid-sized and small brands in the B2B. Beyond the apparent implication of the words used, it is essential to have a contextual and deeper understanding of what experience is actually about. Only this way, the method can be applied to the sales, marketing and drive results for revenue.
The strategy and execution of the customer experience in B2B are expanding the priority and focus. A study has recently suggested that an extensive 90 percent of the executives in the B2B say that they plan to increase or maintain the spending on customer experience within the limits of their organizations. This factor proves that management in B2B is identifying the most remarkable impact that customer experience usually has on the revenue and most importantly on the business as a whole.
As per the research conducted by Accenture, the most renowned professional global services organization, customer services which are ineffective disrupt the growth of revenue for most of the organizations in B2B. The study has ended its research with an authentic statement that brands in B2B should either work more to create an everlasting impact on their customer experience or forget about it entirely.
The strategy and execution of the customer experience in B2B are constantly expanding in priority and focus. As a matter of fact, according to a research conducted, an extensive 90 percent of the executives in B2B suggested that they plan on increasing or maintaining the spending on customer experience in their organization. This is the reason why most of the management in B2B is identifying the most remarkable impact that customer experience usually has on the business and the revenue.
How customer-centric are the brands in B2B?
B2B International recently conducted research suggesting that nearly 14 percent of the B2B organizations which are significant and renowned are completely customer-centric where most of the experience customers get is gained through the organizational culture.
This results that most of the B2B companies have major work on hand to make the customers more focused. However, this also suggests that B2B organizations have chances to distinguish their brands efficiently and attain high revenues by providing excelling customer experience to the customers.
The report has also suggested that 31 percent of the organizations in B2B are occupied with centricity of the customers and that the customer experience is the most important strategy for any organizations. This indicated that nearly a third of the brands in B2B organizations have envisioned for enhanced customer experience, even though it is not yet established in the culture of an organization.
Customer experience affecting the revenue of B2B:
A study conducted by Accenture states some mind-boggling statistics and data about the customer experience and its consequences on the revenue among the firms at B2B. The study found out that nearly 25 percent of the B2B organizations have decent customer experience.
Most of the organizations understand the audacity of customer experience and how impactful it can be for growth. The study suggested that brands in B2B which thrive at the customer experience register a remarkably high growth rate at revenue in comparison to those who don’t experience at all.
The two most significant areas impacting the customer experience and B2B revenue are as follows:
To make it understand quickly when the customers are enjoying the experience during all significant phases of their journey, the organizations will attain more sales and generate more revenues. When customer experiences are supported by execution, the value which any organizations build in the minds of their customers is more worthy than the money they are generating.
When the customers are enjoying their experiences with any brand at any point in time during their customer journey, they are going to remember it for a long time. This experience affects not just the products but also the perception of the brand and the value of both of these things as a whole.
Also, when the customers have amazing experiences with any B2B organizations, they set a standard for other competitors as well.