New research suggests that transparency and communication are critical components to developing successful relationships between B2B businesses and their customers.
To better understand the important factors of B2B customer relationships, Gyro and the Financial Times’ Commercial Insight Group recently conducted a study called “The Business Feeling Index.” Statistics showed that the majority of B2B marketers (60 percent) believe that poor communication is the most likely factor to stall a customer relationship. This is followed by a lack of transparency (53 percent).
In terms of communication mistakes, most marketers (69 percent) claimed that overpromising is the No. 1 error.
Once a relationship has been established with a customer, 69 percent of respondents stated that transparency and honesty are just as critical when a problem arises. This was followed by responsiveness (65 percent).
But how are customer expectations changing and shaping the nature of relationships with marketers?
B2B Marketers and Long-term Customer Relationships
Previous research suggests that B2B customers and prospects now have higher expectations of marketers, which is changing the way they establish relationships.
“The Complexities of B2B Sales Require Thinking Beyond Today’s CPQ” study conducted by Forrester Consulting and FPX recently found that 70 percent of B2B firms feel as if customers now have higher expectations for experiences than they did in the past. About 68 percent of respondents said that it is “very important” to deliver a consistent, high-quality customer experience.
“B2B firms recognize the significance of increased buyer expectations. And they understand that delivering a consistent and high-quality customer experience for both customers and users (such as sales reps and partner channels) is essential to sales strategies today,” wrote the authors of the report.