In B2B World, Earnings Hinge on Customer Service

By Dennis McCafferty  |  Posted 2014-06-19

B2B companies that invest in improving customer experience are reaping huge rewards, according to recent survey from Accenture. The report, titled "B2B Customer Experience: Start Playing to Win and Stop Playing Not to Lose," reveals that these customers are significantly raising their expectations. Although most B2B organizations understand this affects their competitive edge, only one-fourth excel at defining and executing a customer service strategy, a quality that contributes greatly to their 13 percent annual revenue growth. In contrast, nearly three out of 10 B2Bs noticeably underperform here and their revenue growth stands at negative 1 percent. The report divides these two groups into "masters" and "laggards" to describe how they provide customer experience. "The performance gap between the masters and laggards is more dramatic than you would expect, given both groups cite customer service as a strategic priority," said Robert Wollan, global managing director of Accenture's sales and customer services practice. More than 1,450 executives at B2B companies took part in the research. Here are key takeaways from the report. 

Dennis McCafferty is a freelance writer for Baseline Magazine.

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