March 31, 2022
By Matias de Zan, Team Management at Xtendo Global
If there is one model that has evolved over time, and even more so with the digitalization of processes following the pandemic, it is B2B (business to business). This market now features outstanding user experiences, to the point that many organizations are now working to improve critical areas in their sales cycle, such as interfaces and portals, which offer quick and effective personalization.
According to a study by Forrester, by the end of 2021, B2B sales in the United States are expected to grow by 13.1%. This figure indicates the accelerated growth of this business model compared to 2017, when e-commerce interest was 11%.
Given that these digital experiences are playing a prominent role in the success of companies worldwide, it is important for them to continue improving and refining their digital presence. Clients have become accustomed to high-quality service and immediacy—i.e., an efficient buyer journey—very similar to what B2C (business to consumer) clients experience today.
Many business specialists have often said that all B2B is actually B2BB2C, because the entire value chain is geared toward satisfying the needs of a product or service that will ultimately reach the consumer. Therefore, decisions made throughout the process will affect both sellers and buyers.
In this sense, businesses should focus on simple, agile transactions with personalized services that meet the specific needs of companies. This will allow for better outcomes and build the path toward the desired customer loyalty. What characterizes a B2B customer?
Today, the B2B experience aims to provide a purchasing experience similar to that of B2C. However, there are factors that, while seeming similar, have their differences:
- The B2B customer knows exactly what they’re looking for or at least has a clear idea of the problem they need to solve. That’s why marketing campaigns are specialized when offering the product to the customer.
- The decision-making process is longer, as it involves extensive research and analysis through various stages. The buyer must be sure about their selection to manage the company’s investment.
- For this reason, the B2B purchase process has become more personalized. Tracking the aspects involved in decision-making ensures that the strategy, communication methods, and attention to customer needs make the digital cycle being managed a success.
Building Strong Relationships with B2B Clients
While marketing seeks to strengthen business relationships, it is also essential that brand values are solidified to build loyalty. These actions aim to attract the attention of procurement decision-makers within companies.
The B2B model and marketing work together to develop efficient solutions that help companies stay informed and educated about the buying process they’re undertaking.
The most important points of the B2B cycle and why strong relationships should be created for positive responses are as follows:
- Discovery: In this phase, the company identifies the problem and seeks information to solve it.
- Consideration: Here, the company analyzes available solutions in the market and who is in charge of evaluating them.
- Decision: The company selects the provider that best meets its needs.
Once the customer successfully completes the buying cycle, B2B marketing techniques such as lead generation on various social platforms should be used to continue awakening and generating interest for future purchases.
Effective Strategies in B2B
Now that the importance of the B2B model is clear, it is vital for companies to take actions that constantly improve the experience:
- The customer should always be at the center
This is undoubtedly the main point within any digital strategy. When companies develop these types of methodologies, relationships and businesses show a tendency to achieve the set objectives.
The goal is to increase satisfaction and client engagement, which can lead to loyalty. When companies successfully position their clients at the center, effective communication and education on new paradigms that will be followed in the future are created.
- Personalization of the experience
As we’ve mentioned, personalized experiences that address specific needs build more trust. Indicating that there’s a partner ready to help make better decisions, offer timely information, and present offers that respond to client concerns leads the way to loyalty.
It’s important to stay informed with technology to be more efficient and timely when starting a journey map. For example, chatbots are an increasingly well-executed tool by many companies, as they maintain interactivity with clients whenever necessary.
Another alternative, such as Artificial Intelligence (AI), is being widely used to enhance the experience.
- Quality service
It’s always important to work on improving relationships with customers. B2B companies stand out for having successful commercial processes, but they don’t always focus on building solid and recurring relationships. That engagement depends on how the entire production and customer service chain has performed, so it’s vital to include interaction to know and understand where improvements should be made. - Constantly measure
This is the key to improving the company’s sales process or cycle. Measurement helps determine what can be changed during the customer’s purchase phases and how adjustments can be made for the future.
Applying feedback through short surveys will help define strategies in future processes. This way, a profile can be created with the best possible buying experience.
Conclusion
Creating outstanding B2B buying experiences not only helps companies stay competitive but also positively impacts business performance. According to McKinsey, organizations that improve customer experience and satisfaction saw an increase in revenue of 10% to 15%, indicating a favorable Return on Investment (ROI).
