Why Customer Experience Transformation is Important for your B2B Business
I have often heard from our B2B clients that the Customer Experience(CX) for a B2B brand is mainly owned and driven by the Sales team. That may have been true in the days of enterprise Sales-led deals but with the changes in Customer behaviour brought on by Digital channels, as well as the adoption of Software as a Service offerings, Customer Experience has now taken on a much wider gamut - from Brand and Sales management thru to Customer success.
This bring on a new level of complexity that has resulted in many organisations setting up dedicated Customer Experience teams with Cross-functional mandates dealing with every touchpoint with the Customer.
What is Customer Experience (CX) transformation?
The simplest definition of customer experience transformation is the practice of streamlining sales and service processes within your business to improve customers’ interactions with your brand. Putting it another way, Customer Experience transformation is about optimising the customers' interactions with your Brand by making sales and service processes simple, streamlined and fluid for the customer.
If you're struggling with providing an excellent customer service experience, this could dampen your ability to retain your current customers and attract new ones. So, in order to continue to retain and win more customer, you need to incorporate customer experience transformation into your strategic plans.
Why Customer Experience (CX) Transformation Matters?
There are two customer experience paradigms: the inside-out and the outside-in approaches. For a long time companies made decisions based on what they thought was best for their business, not what was most beneficial to their customers. For these companies, the most important driver of shareholder value was the efficient allocation of resources and talent.
Social media and digital communication channels have changed the way we communicate. Customers now have a way to amplify and publicise their opinions about a business — positive and negative — for millions of people to see. Because this publicised sentiment invariably affects reputation, savvy businesses have switched from the inside-out approach to its opposite. The outside-in approach helps companies understand their customers' needs by adopting the perspective of their customers. Decisions are made by taking into account what's best for the consumer and how to best meet their needs. Outside-in organisations focus on the customer experience, which leads to happier customers, a successful business, and higher shareholder value.
Great experiences can help set you apart from the competition. Customers no longer just look at products and prices. They also consider the quality of your customer services and experiences. It comes down to their need to be confident about a company and the quality of its products and services before they buy from them.
Fundamental Principle of Customer Experience Transformation
Putting the Customer Front and Centre
Back in the day, entrepreneurs and business owners thought that the key to success was to provide the cheapest product with the greatest features, but that doesn't hold true anymore in today's digital age.
The goal is now focused on how customers can achieve their goals with your products, by optimising the customer experience and journey. Technology is helping businesses and marketers provide the personalised brand experiences that modern customers want.
It goes without saying that increasing brand loyalty produces profitable outcomes for both brands and their consumers. Only by providing a highly personalised and satisfying customer experience can true customer loyalty be achieved.
The Benefits of Customer Experience Transformation for B2B Businesses
When you transform the customer experience in your B2B business, you are likely to see several benefits (besides happier customers). These will include:
Streamlining processes improve the customer experience and the employee experience. This encourages a positive service culture and makes it a better, more efficient workplace for everyone.
Your consumers' needs and preferences are always changing, so you need to be adaptable to them. Focusing on customer experience (CX) can help you adapt to change more quickly and pivot more effectively.
When customers are happier with their experiences and interactions, they're more likely to stay loyal to your business, which results in a higher customer lifetime value (CLV) for your business.
Focusing on the user experience will help create more efficient teams within an organization who assist each other by providing the best support possible for their customers.
Customer Experience Transformation for Success in The Digital Age
In order to be successful in the digital age, businesses need to focus on the customer experience and put the customer front and centre. By providing a great experience, companies can set themselves apart from the competition and increase brand loyalty. There are many benefits to transforming the customer experience, including improved performance, increased adaptability, higher retention rates, and better efficiency. This will increase shareholder value and help your business thrive in the digital age. If you are serious about your Customer Experience Transformation, then the first step is to map out your Customer Journey.