B2C companies have long understood the power of a positive customer experience. For example, custom recommendations on Netflix let subscribers find shows to watch. Meanwhile, tailored social media feeds can keep users scrolling for hours on end. With access to this level of personalized service on a daily basis, the modern customer has developed higher expectations from businesses they buy from. The same can be said about the experience B2B buyers now demand.
Much like B2C shoppers, the B2B customer wants a unique, personalized experience that will enable them to purchase what they need as conveniently as possible. However, many companies in the industry fall short of this demand, with most B2B businesses having an average customer experience score of less than 50% in index ratings.
Investing in robust, intuitive customer experience solutions—and employing the services of a eCommerce solutions provider like Zobrist—can help rectify these problems and move your B2B business to the front of the pack.
What Will a Poor B2B Customer Experience Do to Your Business?
Customer experience improvement efforts may seem expensive at first, but skimping can come at a cost. Regardless of your industry, poor shopping experiences can negatively affect your bottom line. For instance, consider the following eCommerce pitfalls that poor experiences can exacerbate:
- Decreased lead generation. The presentation of your product/service quality is just as important as their actual quality. Think of it this way—if a customer visits your online store but it loads slowly or does not have enough information on your offerings, what incentive do they have to keep browsing? They can simply exit your site and check out competitors.
- Higher customer attrition. B2B buyers treat the businesses they transact with as partners. They need providers who can deliver the products and services they need as conveniently as possible to ensure operational efficiency. Should they be dissatisfied with their B2B customer experience, they will probably end up scouting out other vendors for their needs.
- Negative brand reputation. At best, a less-than-ideal B2B customer experience only leads to the aforementioned numerical problems. At worst, however, it can also earn you a negative reputation, which may cause customers to actively avoid your business. While there are many strategies to deal with bad reviews, remember that mitigation only treats the symptoms—not the causes. In such cases, investing in your digital experience is critical.
How Can a Great B2B Customer Experience Give You a Boost?
Just as poor customer experience can impact your relationship with B2B clients, so can positive customer experience. Positive experiences can lead B2B clients to view your business as a reliable partner. As such, ensuring seamless B2B eCommerce transactions can help your business yield a wealth of benefits.
Improving B2B Customer Experience Pays Dividends
There is no doubt that investing in your B2B customer experience pays off. Whether you decide to improve the user interface of your website, expand accepted payment options, or simply organize your product catalog for more efficient browsing, any improvement that makes a client’s online store visit fuss-free can yield higher traffic and boost B2B eCommerce sales.
Studies from McKinsey show that such operational changes can lower customer churn by around 10% to 15%, and increase win rates by 20% to 40%. To add to that, these changes can also decrease overall costs-to-serve by as much as 50%.
Improve Customer Retention
Attracting new buyers aside, a good B2B experience can also be an asset in retaining your existing customer base. According to the 2020 State of Digital Customer Experience Report, organizations prioritize their experiential facets primarily to strengthen their brand value (73%) and improve customer retention metrics (66%).
In some cases, businesses also focus on experience to reduce the cost of customer service (41%). After all, a better B2B experience should lead to more straightforward transactions, which means fewer clients will contact you about problems. Plus, clients who find the purchasing process convenient are bound to return for more products and services. If the transaction was pleasant enough, it may even prompt them to refer you to their colleagues.
Build Customer Loyalty
B2B customers may have different shopping priorities than B2C clients, but they share an appreciation for convenient, speedy transactions. The latest statistics show that 80% of buyers in the B2B industry now expect the same experiences as B2C customers. Delivering top-notch B2B eCommerce experiences is now more important than ever.
Making improvements to your eCommerce UI can help clients navigate your site easier and find what they need faster. Meanwhile, by integrating eCommerce analytics, you can help them discover new products and services in line with their company needs. Robust analytics can also help you anticipate client behavior, so you can provide more personalized services later on. In turn, these upgrades to the purchasing experience increase the chances of repeat purchases and build customer loyalty.
Gain an Edge Over Competitors
Your B2B eCommerce site is your online storefront. Its homepage serves as your display window, the site search is your in-store clerk, the product catalog is your showroom, and the product descriptions are your sales and marketing executives.
In a brick-and-mortar setup, making your store stand out can mean dressing up the display window and hiring employees who are adept at handling clients. Similarly, you can set your eCommerce store apart by making sure the homepage is aesthetically pleasing, the site is easily navigable, the product catalog is organized, and that all the information your potential customers need to make a purchasing decision is readily accessible. Additionally, you can make the experience even more intuitive with personalized services.
Taking these steps can help you gain an edge over the competition. This makes your brand more preferred than others, and yields more sales in the long run.
Leverage Technology in Improving Your Customer Experience Now
Making improvements to the overall B2B customer experience doesn’t happen overnight. The process requires a clear understanding of your client’s purchasing behaviors and preferences, a solid data-driven strategy, and careful A/B testing. However, taking the time to optimize your operations while performing day-to-day responsibilities at a time when client expectations are higher than ever can be a tall order. This is where investing in B2B eCommerce solutions like Zobrist can be a critical asset to your business.
Zobrist provides companies with a slew of basic and advanced functionalities that can build powerful B2B eCommerce experiences. From creating enterprise-level eCommerce storefronts to offering managed services for clients, Zobrist can meet your requirements regardless of your industry and company size.
With this expertise at your disposal, you can optimize the B2B customer experience with precisely targeted strategies. In addition, Zobrist’s analytics will help you gain in-depth insights into your site’s performance and client browsing habits, as well as movements in your inventory. Reach out to Zobrist for more details and revolutionize your eCommerce channels today!