Oh, how it would be nice for customers to stay loyal to just one brand. Sadly, 66% of customers break up with a brand because of perceived indifference – meaning they don’t understand why you’re better than any other brand. A new, younger, more attractive brand might swoop in with a seducing discount. So, how do you get customers to understand that you are the crème de la crème? Well, technology can help in more ways than one. Keep reading to learn more.
Artificial intelligence (AI) is simply magnificent. AI is the intelligence demonstrated by machines, usually computers – the idea of which began long before the astonishingly advanced AI we know today.
Marketing, in particular, B2B marketing, benefits from the power of AI. AI creates hyper-personalized adverts that appeal to specific people based on their needs. Thus, helping to increase customer retention. 92% of marketers agree their customers expect a personalized experience – according to a HubSpot study.
AI learns customer behaviours based on purchases, page visits, and emails. It then reconstructs this into transferrable data that creates personalized marketing adverts. B2B businesses benefit more from AI because their customer needs are so much more complex with a much more complicated sales cycle.
Nothing keeps people sweet like a client incentive. Customer retention relies on consistency, rewards, and personalization. What better way to do that than to reward for purchases. Also, 4 out of 5 businesses agree that customer retention is cheaper than acquiring new customers. That’s because the easiest way to gain new customers is to offer discounts, advertise heavily, and compromise future sales strategies.
Both B2C and B2B businesses benefit from customer loyalty programmes. A B2B customer loyalty programme has a profoundly positive impact on customer retention. Something that’s arguably more important than B2C. B2B businesses tend to trade wholesale through suppliers and vendors and partner with distributors. Of which a channel loyalty programme would work well.
There’s a growing trend that customers are demanding more from businesses. So much so, that 54% of customers say they expect more from brands than they did a year ago. Research concludes that 63% of consumers want a business to know their personal needs and expectations, 76% of B2B buyers agreed. You could argue that B2B customer service is more challenging because the issues are usually more complex.
But, if you can get it right, 89% of consumers will make another purchase if they’ve had a great customer service experience. Online chats have arguably been one of the best customer service innovations of the 21st century. To have access to instant support without waiting for an email response or listen to the appalling hold music on a phone call is a dream.
An astonishing 47% of people say they prefer to use an online support chat as their way of contacting customer support. Thus, it’s worth investing in it. What’s even better, the technology is more accessible than ever before. There are multiple reputable chat support software developers that can create a personalized service for your business.
Customer retention is, whether or not it happens consciously, one of the primary motivators for sales. All businesses want loyal customers. They know it’s the more logical, long-term, strategically beneficial thing to do. Technology can be the driving factor behind success, whether B2B or B2C.