COVID-19’s global impact in the business world has led to more investment in “customer experience” from Business-to-business, or B2B companies, as they observe a variety of disruptions in the “new normal,” according to a recent article in Forbes.
That impact, which has forced workers to work from home, potentially upending the office leasing industry, among other disruptions to the global economy, has exposed the need to cultivate a strong, digital presence that is relatable to a customer.
“B2B companies have an average customer experience score of less than 50%, far lower than 65%-85% for B2C companies,” says Blake Morgan, senior contributor in Forbes.
Knowing the customer not only impacts a business relationship or brand in noticeable ways to the general public – online reviews are one example – but it also provides an opportunity to strengthen existing business relationships.
“A positive customer experience is crucial to the success of your business because a happy customer is one who is likely to become a loyal customer who can help you boost revenue. The best marketing money can buy is a customer who will promote your business for you – one who’s loyal to your company, promotes your business through word-of-mouth marketing, and advocates for your brand and product or service,” writes Jason Bordeaux in an article for Hubspot, a marketing and software developer company.
Understanding kyc as a concept to provide a more robust customer experience boils down to three key elements for B2B companies: omnichannel experience, and real relationships.
An omnichannel experience essentially means that customers have a consistent experience when interacting with a business. This is often referred to when discussing how a B2B can share customer data with other agents, such as call centre agents, so that information is easily accessed. An omnichannel experience not only assists customers in speedy service, but allows the sharing of information on policies for all employees of a B2B.
According to recent findings, many businesses are opting to invest in digital channels at the expense of traditional means, such as live agents. But this is not necessarily a positive way to engage customers. If every customer has different needs, a variety of channels should be available, with businesses doing the work to tailor the experience to each customer.
This factors into what experts also cite as a growing point of investment for the customer experience, real relationships. B2B is a bit of a misnomer, giving the impression that an entity is selling to another entity, as opposed to live humans on both ends interacting with one another.
B2B’s that are often cited as excelling in their marketing are noted for their investment into retaining loyal customers by providing a specific team of specialists or agents, or adding a human touch.
