By Kyle Fitzsimmons, Marketing Content Manager for Ultra Commerce
The complexities we are seeing in the B2B marketplace are continuously changing and growing. From an order orchestration and fulfillment standpoint, the delivery promise now includes many moving parts over a longer period of time that must be accounted for and automated through order management.
B2B organizations must ask themselves: ‘What are the specific requirements our company needs?’ ‘How do we orchestrate and track for the demand of these growing complexities?’ ‘What are the issues that are keeping our customers up at night and how do we solve them while managing internal expectations?’
The answers to all of these questions must contain a similar theme: customer experience. According to a 2019 report from Accenture, 86% of B2B CMOs reported that they consider customer experience to be ‘very important’, yet only 57% reported ‘marginal’ CX performance.
Connecting revenue growth with customer experience
So where is the disconnect? If so many B2B organizations acknowledge the importance of online customer experience but so few are happy with their current digital commerce capabilities to support this then how do we bridge that gap? The answer: By connecting customer experience to cost reduction and revenue growth.
According to a 2019 report from Forester, Coca-Cola reported that it reduced its average cost per interaction by 85% by moving offline B2B customers online. Once those customers are online, however, you must create exceptional experiences for them when interacting with and purchasing from your organization.
The fact is that a great customer experience through digital commerce creates high-converting scenarios and customer loyalty fueled by personalized and automated rewards. This leads to growing new revenue channels and also reduces overhead costs associated with manual processes requiring higher internal head counts.
Want to learn more about common challenges (and solutions) around B2B order management? Download our recent eBook on this topic: