The concept of customer experience (CX) has shifted from customer-centricity to customer obsession, making it much more comprehensive and immersive than ever before. Where customer-centricity sets its sights on understanding and meeting customer needs, customer obsession goes a step beyond by integrating every aspect of a business – leveraging technology, design and human insights to deliver superior, holistic user experience. This transformation is on fertile ground within the B2B sector, where businesses are recognising the need to provide the same high-quality experiences that B2C customers usually expect, says Avinash Maharaj, Head of Digital Product Strategy at fintech specialist e4.
Being customer-obsessed is a business approach that puts customer needs at the centre of an organisation’s culture and operations instead of paying lip service to the idea of good customer service. “It involves a deep commitment to exceeding customer expectations at every touchpoint. In CX discussions, the focus is often narrowed on the technology aspect, but every element within a company and every touchpoint with a client contributes to the overall user experience. CX should be viewed as a company-wide initiative rather than solely a technology strategy,” explains Maharaj.
He says creating a truly holistic customer experience is the result of the painstaking integration of people, technology, design and business intelligence. “Each element plays a vital role in creating journeys that resonate with clients. By combining insights from industry research, technological advancements and customer feedback, we can design products and services that meet customers where they are on their own business journey. By focusing on the intersection of customer needs, technology and business strategy, we’re also able to constantly realign our efforts to ensure we can adapt and realign if necessary.”
From initial sales conversations to ongoing support, each touchpoint is an opportunity to reinforce a brand’s commitment to customer satisfaction. “Delivering an exceptional experience is a holistic endeavour that requires a shift from siloed operations to a cohesive strategy that delivers consistency and excellence at every customer interaction,” notes Maharaj. Of course, delivering a holistic customer experience today involves multiple digital touch-points too, which is why a digital-first approach is so central to enhancing customer interactions and streamlining processes in the B2B space. The challenge, says Maharaj, is never losing sight that it’s about the customer, not just the best technology. “By focusing on what customers want, the solutions will follow. It’s critical to understand the problems and pain points first, and then being ready to position ourselves with the right solution in the markets we operate within.”
While B2B transactions involve businesses, it’s essential to remember that behind every interaction are individuals with unique needs and goals. Applying B2C-level customer experience strategies, like personalisation, seamless onboarding and digitally assisted support to B2B interactions, recognises the human element and fosters deeper customer connections. “In the B2B space, providing customer-obsessed experiences is becoming much more commonplace, and with good reason. More organisations are realising that this is the next step in maturing a competitive advantage and refining what counts as a unique value proposition to attract new customers while keeping existing customers happy,” says Maharaj.
So, what metrics should organisations use to determine CX success? “Ultimately, two metrics usually sum it all up: friction and stickiness. Reducing the friction at an application, service and delivery level enhances CX satisfaction while stickiness evaluates customer retention and engagement. Are clients coming back, are they checking, are they reacting, are they buying? Monitoring the elements of stickiness gives insight into how relevant the current personalisation tactic is and what the next steps on the personalisation journey should be,” notes Maharaj.
The journey to becoming customer-obsessed is not without challenges. “Managing business demands is equally vital. Most businesses don’t have the luxury of patience and/or freedom to experiment as they operate in a landscape characterised by constant pressure to meet various demands: budgets, sales targets, competition, market dynamics and stakeholder expectations. It’s crucial to strike a delicate balance between enabling employee creativity in their work and addressing the immediate needs of the business that pays the bills and satisfies stakeholders. Finding this equilibrium is fundamental to a successful CX strategy,” he adds.
The future of CX is set to embrace hyper-personalisation and predictive insights powered by emerging technologies like AI and machine learning. Maharaj says by transitioning control from businesses to customers through user-powered AI, organisations will be better equipped to anticipate customer needs and deliver tailored experiences. “Even in the face of emerging technology, adopting a company-wide approach to CX and integrating technology with a deep understanding of customer needs is what will ultimately drive long-term success. A customer-obsessed mindset is long overdue in the B2B space.”
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e4
e4 is a technology company specialising in digitalisation. By understanding the complexity of a digital journey, e4 partners with its clients to provide innovative solutions that suits their unique needs. Using an omni-channel platform approach, e4 offers a range of digitally-inspired services as well as solutions.
Working across financial services, data and the legal sector, e4 understands the intricate requirements in these sectors, and uses its expertise to assist clients in effectively managing their businesses through digitalisation.