B2C Loyalty, B2B Loyalty, Digital Loyalty

How to Apply B2C Strategy to B2B Loyalty

rreed B2B Loyalty, Customer Loyalty

Loyalty is driven by relationships. Consumer loyalty programs are built to nurture long-term and profitable behavior change. It begins with financial or value-driven incentive and is nurtured by established relationships. These relationships are built on a deep understanding of consumer needs, expectations, and pain points.

Though B2B customer relationships are often longer, more complex, and involve multiple touchpoints and interactions, the same basic B2C process applies to businesses as buyers: incentive to purchase, personalized value delivered by the seller to encourage repeat purchase, and a sustained cycle of personalization and value. Customer-centric strategies apply to businesses too. Many B2B organizations are shifting focus from product to buyer, and from price point to customer experience.

Businesses purchase and behave like consumers–digitally. B2C marketers use customer data, machine learning, and artificial intelligence to craft laser-focused messaging, tailored product, and personalized customer service.

Building a Digital Customer Experience

Making adjustments to operational performance can improve the customer experience and lower churn by 10 to 15% according to McKinsey & Company.

Going mobile is no longer an optional adjustment. According to a 2016 Forrester Report, more than 60% of business buyers agree that the mobile channel is critical to their work. A study by McKinsey found that B2B decision makers cited lack of speed in digital interactions with suppliers as their number one pain point, mentioned twice as often as price point.

Use technology to not only improve the customer experience, but also to identify the customer’s needs. Become an expert in the client’s industry and collaborate to improve product quality. Identify customer pain points and develop solutions improving the customer experience and delivery along the way.