B2B buyers are borrowing from the habits of B2C shoppers and shifting control of the sales process out of the hands of the seller. Progressive companies that understand this shift and are making smart changes to respond are seeing significant business results.
The widespread availability of social and mobile technology is complicating relationships between businesses and their customers. Today before engaging with a sales team, customers routinely collect information, conduct peer reviews and compare offers from a multitude of information sources, few of which the seller controls. As buyers shift their behaviour and grow more demanding, sellers must redesign how they work and become more flexible. A recent global study from Avanade of 1,000 C-level executives, business unit leaders and IT decision makers revealed that businesses embracing this new sales complexity are realizing results and reporting longer-team and more lucrative relationships with customers. Click to tweet.
The opportunity: businesses learn to monetize customer experience
Today the value of a customer relationship is no longer defined by a series of transactions, but rather by the complete “experience” a seller offers a buyer at the time of purchase and throughout their time with the product or service. Avanade’s research revealed not only that the value of the customer experience surpasses cost as the top factor in a B2B purchasing decision but that customers are willing to pay up to 30 percent more for a superior experience. Additionally, more than half of those surveyed report paying more for a product in the last six months because the customer experience was better than other less expensive options. This represents a clear opportunity for businesses to monetize customer experiences. Click to tweet.