When Are B2B Customers Likely To Switch?

by Jeannie Walters

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There is some lore out there that B2B is vastly different than B2C experience. I beg to differ.
Bottom line – attention to customer experience within any organization should be about loyalty. If you’re not interested in keeping more happy customers, then move along.
In this economy, with the convenience of research and referrals, B2B needs to wake up and smell the competition. Smaller, more nimble companies are born every day. They are hungry and humble and willing to take your customers. In fact, they will lure away your “satisfied” customers. B2B is still about people. And right now, with purchasing budgets and timelines slashed, it’s time for B2B companies to get serious. Pronto.
Google quoted a study from 2010 stating 62% of B2B buyers are doing more online research because of the economic downturn and have become more likely to switch vendors. Google is also seeing a surge in B2B conversions, with conversion defined as an individual taking a desired action on a website. Combine these ideas with the way LinkedIn, Facebook and other social signals are incorporated into simple search, and you see that B2B relationships are at risk more than ever.
So what to do? If you are serving businesses in your business, take the time to humanize the relationship. Ask for feedback. Provide many ways to circle back and let them know what’s coming. Promise – then deliver – innovation. Stay aware of your competitors.
It’s tough out there. Don’t let your business customers’ loyalty fool you.
Photo Credit: Enriqueburgosgarcia

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Jeannie Walters

Jeannie Walters is the CEO/Founder of Experience Investigators, a global Customer Experience consulting firm. She has 20 years of experience helping companies improve loyalty and retention, employee engagement, and overall customer experience. Jeannie is a Certified Customer Experience Professional (CCXP,) a charter member of the Customer Experience Professionals Association (CXPA,) a Professional Member of the National Speakers Association, LinkedIn Learning instructor, TEDx speaker, and President-Elect of the National Speakers Association Illinois chapter. Learn more here.

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