A recent study conducted in December 2016 by Lithium Technologies and Harris Poll of 2,000 respondents revealed the power and value of the customer experience. The study revealed that 83 % of U.S. consumers say having a positive customer experience with a brand is more important than the product itself. For those of us who spent our careers in B2B businesses, where the investment and innovation dollars have gone to product, this is a very significant finding.
As businesses consider the longevity of their client base, the customer experience must play into the strategy as 71% of customers are unlikely to ever use a brand again after only one bad experience. Gone are the days where brands can determine the stakes and dictate what customers will think. Today, businesses must consider how they are going to support the customer with an experience that will positively impact their impression of the brand and product.
For B2B leaders, this will require a new mindset. As companies build complex products that are supported by difficult purchasing cycles, it is important for vendors to realize that the product and its technical capabilities will only take you so far. Now, it is critical to understand the customer deeply and to know the experiences that will differentiate your brand and product so they will continue to purchase from you.