How are you measuring business growth? By how much your revenue stream has grown or how happy your customers are?
According to a study by Salesforce in which 985 senior marketers were surveyed, 51% measured success by revenue growth, whereas only 22% looked at customer satisfaction and 18% at retention rates.
In today’s B2B world, customers are more important than ever, and your relationship with them can make or break your business.
One of the best ways to ensure your interactions with them are timely, meaningful, and relevant is to know how and where to meet them along the B2B customer journey.
But knowing what journey a buyer takes to get to your business can be challenging. In fact, although 86% of senior-level marketers agreed that it’s very important to create a cohesive customer journey, only 29% of enterprise companies rated themselves as being very effective or effective at creating one.
So how can you ensure that your business successfully maps to the B2B customer journey? First, focus on the following two things.
In the same study, only 17% of respondents said their company had fully integrated their customer data across all areas of the organization.
As you can see above, the level to which a company’s data was integrated directly correlated with how effective their customer journey was.
Lack of integration can mean:
- Departments are disconnected from one other, meaning they’re blind to one another and where they’re at in the sale at any point in time
- The company has a collection of disparate IT systems and business processes that only solve specific problems for individual lines of business
- Updating business data is an enormous task
- Systems are disorganized and aimless
- Real potential for significant ROI is diminished
There is a lot of room for improvement when it comes to data integration, as it is essential to creating a cohesive customer journey across all channels and touchpoints. Which brings us to number two...
Omnichannel Delivery Strategy
Omnichannel B2B buyers are what you want. That’s because, according to Forrester, they’re more active, cost less to serve than single-channel customers, and generate more incremental revenue overall.
In order to serve these ideal buyers, your company needs to adopt a sales strategy that simplifies, optimizes, and delivers the B2B customer journey across both direct, indirect, and online sales channels.
This means organizations must solve the B2B complexity problem—we’re talking complicated sales tech ecosystems, custom product bundles, etc.—by embracing and leveraging an enterprise platform that enables the sale of complex products via ecommerce, unites existing technologies, and offers full visibility to users across all channels.
The Last Word
Thanks to today’s technology, solutions like CPQ can help connect and extend the capabilities of your business’s existing buying and selling channels.
Not only can all of your data be sourced, rationalized, and distributed from a single source, buying experiences can be optimized across all channels throughout the B2B customer journey.
These capabilities won’t only maximize profit margins and drive revenue, they’ll spur customer engagement and—ultimately—foster customer loyalty.