Spend
Sixty-two percent of B2B customers have purchased more from a company after
a good customer service experience.
Tenure
After building a relationship, customer spend grows alongside trust. Eventually,
loyal customers spend 67 percent more than new ones. Over the course of a year,
experience-driven businesses grew revenue 1.4 times faster and increased
customer lifetime value 1.6 times more than other companies.
Cost of service
Maximizing satisfaction with customer journeys has the potential of lowering the
cost of serving B2B customers by as much as 20 percent. Of course, it is more
profitable to keep an existing customer than recruiting a new one.
Referrals
After a positive experience, 83 percent of customers would be happy to provide a
referral if asked. Questions such as, "How likely are you to refer a friend or
colleague?" can help customer service managers identify which customers to ask
for referrals.
This unused data represents a gold mine of information that could be leveraged across the
organization to drive important initiatives like developing effective marketing campaigns and
enhancing manufacturing processes. More importantly, it could be used to help customer
service personnel build better relationships with customers.
Deloitte reported that increasing numbers of B2B companies are looking to invest more
heavily in the Customer Service (CS) function. The reasons are many, including a lower cost to
serve, higher willingness to spend, increased loyalty, and brand advocacy. And Deloitte's study
showed the benefits of improving the CS department are very real:
It is important to reiterate that both response and resolution time are critical factors in
meeting customer service expectations. Forrester reported that two-thirds of customers
believe valuing their time is the most important thing a company can do to provide them with
good service.
DEMAND, DELIVERY, DISRUPTION | 7
