Intelligent CIO North America Issue 3 - Page 38

GREAT CUSTOMER EXPERIENCE STRATEGIES WORK TO CREATE AN ENVIRONMENT THAT IS FREE OF FRICTION AND PROVIDES USERS WITH A JOURNEY THAT MEETS THEIR EVERY NEED AS QUICKLY AND EASILY AS POSSIBLE .
TALKING business

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GREAT CUSTOMER EXPERIENCE STRATEGIES WORK TO CREATE AN ENVIRONMENT THAT IS FREE OF FRICTION AND PROVIDES USERS WITH A JOURNEY THAT MEETS THEIR EVERY NEED AS QUICKLY AND EASILY AS POSSIBLE .

overall quality of business interactions , as well as data that can provide a more accurate view of each audience member .
Beyond gathering data to enhance experiences , businesses may not have the capabilities needed to completely control and execute their customer experience strategy . Research by Accenture found that only 21 % of B2B companies have
total control over their sales partners , who are largely responsible for delivering CX to their audience . If a business is unable to determine how , when and to whom these experiences are provided , even a wellconstructed B2B user interface can result in an unsuccessful experience .
Back-end integration that allows greater and more accurate access to customer data , modern interfaces that allow for personalization based on individual needs and improved delivery systems governing how these interfaces are provided to audience members can greatly enhance a company ’ s modern B2B customer experience .
How can a great customer experience impact your B2B relationships ?
Great customer experience strategies work to create an environment that is free of friction and provides users with a journey that meets their every need as quickly and easily as possible .
While B2B audiences may not be as likely to abandon a shopping experience or choose a competitor due to poor experiences as B2C audiences , the impact of experiences on long-term relationships is steadily increasing .
According to research regarding B2C and B2B experiences by The Tempkin Group , 86 % of those who receive a great customer experience are likely to return for another purchase . However , the study also found that only 13 % of people who had a sub-par customer experience will return . In addition , engaged and satisfied customers will buy 50 % more frequently and spend 200 % more annually , as found by Rosetta .
The importance of creating great B2B experiences is not just in keeping up with competitors and audiences , it also has a positive impact on company performance .
As shown by McKinsey , B2B companies that transformed their customer experience processes saw benefits similar to those seen by B2C companies , including a 10 % to 15 % revenue growth , higher client satisfaction scores , improved employee satisfaction and a 10 % to 20 % reduction in operational costs .
The combination of these benefits means a higher ROI on B2B operations , supporting the company as a whole .
What element of B2B customer experience should leaders focus on ?
We surveyed 30 global leaders that drive B2B commerce experience for their organizations about customer experience elements such as self-service , personalization , chatbots and more .
Download this report to learn which they believe are the most critical for B2B success . •
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