New research has uncovered that B2B organizations are moving away from price-led marketing to focus on the customer experience, which has led to a greater focus on client retention and brand awareness growth strategies.
A survey of 250 global marketers from B2B firms conducted by B2B International has discovered that 58 percent of respondents are now focused on “value marketing” – selling products and services based on value to specific target audiences. This is an increase from 39 percent who said the same in last year’s study.
As a result, 54 percent claim that customer retention is now one of their top five challenges. This number is up from 44 percent last year.
“There’s a much more holistic view of the customer experience now – it’s not just about customer satisfaction and loyalty, it’s more about how you can deliver a superior experience to your competitors,” said Julia Cupman, global director at B2B International.
Approximately 54 percent said that they believe customer experience research will be the most valuable form of market research over the next two years to overcome their top challenges. Additionally, 37 percent say the same for customer segmentation, up from 33 percent last year.
Providing a Unique Customer Experience
As the demand for top notch customer experience continues to grow, marketers remain optimistic about their abilities to provide. The “Making Personalization Possible” report from the CMO Council recently discovered that 75 percent are “hopefully optimistic” or “totally confident” in their personalization efforts.
Approximately 68 percent intend to optimize the customer experience through the use of better client data, insights and analytics.