B2B sellers claim that customer experience (CX) is at the center of their business priorities, but many lack essential elements needed to provide a satisfactory customer experience. These companies need to implement the right solutions to truly put customer experience at the forefront of their business strategy.
KBMax’s Strategic Account Director, Kris Goldhair, shared exclusive insights on improving the B2B customer experience (B2B CX) with MarTech Advisor.
While price and product play important roles in staying one step ahead of the competition, they’re not the only two differentiators B2B leaders should stay focused on. Buyers now expect B2B eCommerce to provide a consumer-grade customer experience.
What is one of Goldhair’s top B2B CX observations?
“Gen Z is a business opportunity you can’t afford to miss. As 40% of the population commanding upwards of $40 billion in spending power, modern marketers need to build compelling strategies to engage with Gen Z.”
B2B leaders are failing to take full advantage of the benefits that a top-of-the-line customer experience can bring to their companies. This is one of the top reasons that only 23% of companies achieve strong returns on their B2B CX investments.
B2B companies need to make massive investments in implementing cultural and operational changes. With CPQ software like KBMax, they can do both. They can use the next-gen sales enablement tool to increase operational processes while also rolling out a significant change management initiative. In this way, B2B leaders can manage to streamline both arms of their business at the same time.
B2B eCommerce is the shorthand term coined to refer to sale of goods and services from one business entity to another business using the internet.
It is derived from “business to business electronic commerce”.The sale can be of goods from a manufacturer to a wholesaler or it may be from a wholesaler to a retailer.
In another form of B2B eCommerce, manufacturers may sell to retailers directly on the internet without the use of a wholesaler.
Retailers go directly to the manufacturer’s website and place their orders.
Like traditional B2B trade, B2B eCommerce usually involves negotiated pricing and consists of regular orders for the same or similar items placed on a regular basis.Where traditional B2B relationships may take months to form, in B2B eCommerce, relationships may form more quickly as the buyer has generally done extensive research before contacting the seller.
In much the same way as the price, terms, and conditions such as freight are negotiated on a per customer basis for off-line sales, B2B eCommerce provides the same capabilities, just in an electronic fashion.
So does everyone else.These days, having a fantastic product and plenty of options to configure it with is not enough.
Your customers want to enjoy the process and feel good about what they’re buying from you.You have to create an experience that makes the purchase feel compelling and worth the money.Research by Gartner shows that 81 percent of companies compete mainly on customer experience and are constantly striving to improve it.
Without it, you risk inaccurate quotes, convoluted processes, and a lack of efficiency that will affect your revenue.It’s definitely time for you to invest in CPQ software if:Your configuration interface is a paper form.
Whether deciphering unintelligible keywords or hunting for a part number that’s one digit off from something totally different, there are just too many opportunities for mistakes to happen.The sales cycle takes weeks or months to complete.
CPQ software provides real-time updates as customers choose options, keeping them engaged right through to the bitter end.7 Ways CPQ Implementation Supports a Winning Customer ExperienceThe very real benefits that CPQ software delivers to your team and office aren’t the only reasons why it’s a smart idea to invest in it if you offer customized goods.
Beyond greater efficiency and the end of those dreaded Excel sheets, implementing a CPQ solution will also result in more and happier customers.Whether you’re simply looking for ways to deliver more value to your customers or undergoing a full-blown digital transformation, here are seven ways that CPQ software can support the creation of a winning customer experience.1.
