Eric Bernstein, CEO of Odessa, discusses the importance of B2B technology companies focusing on customer experience (CX). He notes that B2B technology tends to lag behind B2C in this area because companies often forget that they are ultimately selling to humans, not just businesses. When B2B companies focus solely on creating products that cover every imaginable use case, they often end up with overcomplicated products that are difficult for users to navigate, leading to poor adoption rates and customer attrition.
To improve CX, B2B companies need to focus on optimizing products for ease of use rather than just including a breadth of capabilities. Bernstein uses the example of software for auto dealerships, where the average person simply wants to efficiently complete paperwork rather than manage every add-on or policy that could come with a car lease. By optimizing for ease of use, companies can improve customer satisfaction and retention rates.
Bernstein highlights Zappos as a case study of excellence in customer experience. Zappos shifted its focus to customer service, offering 24/7 call center support, free shipping both ways, and 365-day returns. By creating a culture centered around delighting customers, Zappos was able to make a lasting emotional impact and foster word-of-mouth marketing, which Bernstein believes is more valuable than any advertisement.
To catch up to B2C companies in terms of CX, B2B companies need to start by thinking about the humans within the businesses they sell to and getting timely and informative feedback from those individuals. By understanding and optimizing all touchpoints customers have with their brand, products, and business, B2B companies can start to improve the overall customer experience and drive retention and word-of-mouth marketing.
Strong CX can have a significant impact on a company, affecting every aspect from customer lifetime value to marketing expenses. By mastering CX, businesses can increase customer loyalty and reduce marketing costs by relying on reputation and organic marketing through word of mouth. Customers are naturally loyal, so providing an excellent experience can lead to customers staying with a company and reducing the need to seek out alternative solutions.
In conclusion, focusing on customer experience is crucial for the success of B2B technology companies. By optimizing products for ease of use, providing exceptional customer service, and prioritizing feedback from customers, companies can improve retention rates, drive word-of-mouth marketing, and ultimately enhance their overall business success.
