KB Max

KB Max

KBMax make selling complex products easy so you can provide your customers with an unparalleled buying experience.

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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.
Enter B2B2C (Business-to-Business-to-Consumer) – a hybrid model that promises bulk acquisition of customers at a remarkably low cost.)Oracle CPQ Cloud Replaced With KBMax To Connect Customers, Sales & ManufacturingB2B and B2C models both have their own strengths and weaknesses, depending on the products and services a business sells and a prospect’s position in the customer cycle.These can be summarized, in general terms, as follows:The Duration of the Decision-Making Process: B2C purchase decisions are often made on the spur of the moment, while B2B businesses face a greater time-burden.B2B sales reps have to work harder and longer to get deals over the line and cultivate relationships over the long term.The Number of Decision-Makers: B2C companies usually deal with a single decision-maker, while B2B businesses have to contend with a group decision-making process.Such a process can be tricky to navigate, as a firm “no” from any single individual in the decision-making chain can scupper a hard-fought deal.The Length of the Business Relationship: B2C customers are more fickle: business relationships often end at the point of purchase.It stands to reason then that the lead pool for B2B businesses is significantly smaller; hence why B2B relationship management is so crucial.Order Values: The average transaction value (ATV) of a B2B purchase is significantly higher than that of a B2C purchase, meaning B2B companies need fewer customers to sustain profitability.What is B2B eCommerce?
But, in the wake of the coronavirus pandemic, when face-to-face meetings and business travel are beginning to feel like distant memories, these predictions are likely to be a gross underestimate.So, what is B2B eCommerce?It’s the sale of goods, business-to-business, through an eCommerce website.Here’s how.You can take your company global by vastly extending your reach.Whether you want to take your business “global” or not, you can significantly increase the size of your total addressable market by shifting your focus away from human sales reps and towards a B2B eCommerce portal.B2B eCommerce has unlimited reach in terms of customer volume and geography, unlike a human sales rep who can only manage a small group of customers at any one time.With B2B eCommerce, your customers can interact with your products virtually, through any device, and they can access you directly through search (low cost of acquisition).The 5G network, set to expand to every corner of the globe over the next five years, means an increasing number of B2B buyers will be operating solely through their mobile phones, and you need to be able to meet their gaze.Your customers can independently configure and customize the most sophisticated products and product bundles.It’s not just basic, low-value goods that pair well with B2B eCommerce.It’s a fully immersive experience that offers greater interactivity than any physical showroom, and buyers can access it from anywhere.With 3D visual configuration, buyers take greater ownership of their selections, relate to your products and brand on a deeper, more emotional level, and conversion rates increase by 40% (on average) as a result.You can slash costs across your entire organization.Yes, bossing B2B eCommerce in your industry takes investment, but there are substantial costs to be saved on the other side of the equation.B2B eCommerce, with its rock-bottom acquisition and retention costs and limitless potential for scalability (up and down), is by far the cheaper and more flexible option.Rules-based systems built into your B2B eCommerce solution diminish the potential for human error saving you money.
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