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26 Nov 2019

B2B: Overcome your data barrier & realize the full potential in your CX work

Thoughts

Several industry reports (e.g. Forrester, Dun & Bradstreet, McKinsey) have over the past year ranked customer experience (CX) as the most important opportunity for growth of B2B companies. However, between 25% and 50% of the B2B companies have ranked themselves as immature when it comes to delivering a positive customer experience – a significant difference from B2C companies who rate themselves delivering positive customer experience in 65% to 85% of the customer interactions.

A major barrier for success is often the organizations’ inability to analyze the accessible data, and turn it into actionable insights. We have summarized five actions on how B2B companies can overcome the data obstacle and improve the CX work.

5 actions to overcome the data obstacle:
  • Leverage your data as a competitive advantage. Two thirds of the B2B marketers state that the main hurdle for CX progress is the inability to analyze data and knowing which data to process. The variety, accessibility and speed of data has caused companies to suffer from data deluge. Successful companies look beyond their ordinary CRM systems. Instead, they leverage the analysis that can be drawn from different systems (e.g customer data platforms, marketing systems, data management platforms)  and turn it into actions that can be used to create a competitive advantage.
  • Organize your customer segments to personalize the CX. More than 80% of the B2B marketers highlight the importance of consistent CX in any customer interaction, however, between 25% and 50% state that they are lagging behind the competition. To offer a superior and personalized CX, B2B organizations need to organize the customer base into coherent customer segments and look beyond the customer account to meet the sourcing professional behind it.
  • Start small and create lighthouse projects: Companies often have a picture of who the customer is but lacks insights from all touchpoints. By using data to map and analyze all customer interactions for one segment, companies can start small, create a proof of concept to create a signal effect for future projects and create organizational awareness.
  • Learn and scale the solution: Learn from the past and create short cycles of iterations. Improve the experience, test it with customers, redesign, and scale into new offerings and products.
  • Foster a customer-centric culture: Fostering a customer centric culture is essential to succeed with the CX work across the organization. By placing the customer in the center of attention, value propositions can adapt to be more customized to the customer.

If you want to discuss how you can step up your CX work, get in contact with Katia Rigbrandt, Andreas Engwall or Pontus Andersson.