In an environment where business-to-business (B2B) customers are
demanding a richer consumer-like experience, new research from
Accenture (NYSE:ACN) finds that only 23 percent of companies are
implementing truly effective customer experience programs and
achieving higher revenue growth.
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According to the Accenture Strategy report, 2015 B2B Customer
Experience, of the 1,350 B2B sales and customer service executives
surveyed in 10 countries, 66 percent believe that new entrants are
providing better customer experiences in today’s age of digital
disruption. To compete, incumbent businesses recognize they need to
make a significant shift in their business models: 78 percent of
executives think higher customer expectations for tailored B2B
solutions will have a substantial impact, and 76 percent feel that
customers are now more knowledgeable, self-directed, and
continually evaluating suppliers.
The poor self-assessed performance comes despite the fact that
86 percent of B2B supplier executives continue to view the overall
customer as ‘very important’ to their strategic priorities.
Furthermore, 74 percent of respondents recognize customer
experience will play an even larger role in overall corporate
strategy over the next two years.
“B2B companies overwhelmingly recognize the importance of
customer experience to their corporate strategy and bottom line,
but the majority are wasting their investments on changes that are
delivering mediocre results,” said Robert Wollan, senior managing
director, Accenture Strategy. “With consumer-like expectations and
a substantial threat from new entrants, B2B companies must be ready
to design and execute a transformed customer experience or not
invest in such improvements at all.”
Barriers to Success
In response to rapidly changing customer demands, new
competition and low returns on investment, 45 percent of executives
surveyed intend to increase spending by 6 percent or more to
improve customer experience programs.
However, internal roadblocks are preventing B2B companies from
meeting higher customer expectations. Only 32 percent of executives
(versus 40 percent polled in the same research in 2014) say they
are well-equipped with the skills, tools, and resources necessary
to deliver the desired B2B customer experience. Executives point to
a lack of C-suite attention, customer experience processes, and
necessary cross-organizational integration.
Leaders, Strivers and Laggards: More B2B Companies
Racing to Become Average
Accenture Strategy identifies three groups of B2B companies –
Leaders, Strivers and Laggards – differentiated by their ability to
plan and execute customer experience and deliver annual revenue
growth. With just over a fifth (23 percent) of organizations
remaining as Leaders since last year, more Laggards have moved up
to the Strivers category, increasing it from 48 to 57 percent.
The 2015 research shows Leaders generate an average of 13
percent annual revenue growth. Strivers achieve an average of six
percent annual revenue growth and Laggards record an average
decline in revenue growth of -1 percent.
“There’s a clear distinction between the Leaders and Strivers in
B2B customer experience,” said Wollan. “Strivers are ‘racing to
become average’ and average is a precarious position to be in these
days. Leaders see after-sales service as a critical part of the
customer lifecycle and they invest not just in new digital
technologies, but in traditional customer connection points too.
Leaders realize that a multi-channel approach is needed to reach
B2B customers seamlessly and consistently.”
How Leaders of Customer Experience Succeed
Among the main ways that Leaders generate outsized returns on
their customer experience investments compared to Strivers:
1.
Leaders “start from the back.”
Almost double the proportion of Leaders (61 percent to 34 percent
of Strivers) place greater value on after-sales service. They see
it as the most important point in the customer lifecycle.
2.
Leaders don’t avoid disruption – they
create it. Sixty-two percent of Leaders (versus 42 percent of
Strivers) see defending their business from new types of
competitors as a priority and a third (35 percent) are being more
proactive in using customer experience to become the disruptor
instead of the disruptee compared to 24 percent of Strivers.
3.
Leaders invest heavily in both digital
and legacy. Twice as many Leaders (44 percent versus 23 percent
of Strivers) believe their digital investments give them a
competitive advantage and allocate more of their customer
experience budget to digital (67 percent versus 41 percent). But,
Leaders also continue to invest in traditional channels, with 39
percent (versus 22 percent of Strivers) spending more on contact
centers, field service capabilities and even legacy CRM systems
over the past two years.
4.
Leaders understand the role and value
of the “connected ecosystem.” Leaders are more focused on
partner collaboration and performance monitoring to ensure optimal
customer experience. Notably, 51 percent of Leaders, versus 29
percent of Strivers, maintain vigorous vendor management programs
across several external partners.
Please visit www.accenture.com/B2BCustomerExperience to read the
report. Learn more about Digital Disruption. Join the conversation
at @AccentureStrat.
Methodology
Accenture conducted an online survey of more than 1,350 chief
sales, service and customer officers, vice presidents, directors
and managers from the sales and service functions, across 16
industry subgroups and 10 countries (including the US, UK, Germany,
France, Italy, Spain, Japan, Brazil, China and South Korea). The
survey explored the significance, scale and performance of B2B
companies’ initiatives to provide their business customers with a
differentiated customer experience across all sales, marketing and
service touch points. The survey was fielded in February and March,
2015. Respondents represented companies from 10 countries and 16
industries with the vast majority posting annual revenues of more
than US$1 billion.
About Accenture
Accenture is a leading global professional services company,
providing a broad range of services and solutions in strategy,
consulting, digital, technology and operations. Combining unmatched
experience and specialized skills across more than 40 industries
and all business functions – underpinned by the world’s largest
delivery network – Accenture works at the intersection of business
and technology to help clients improve their performance and create
sustainable value for their stakeholders. With more than 358,000
people serving clients in more than 120 countries, Accenture drives
innovation to improve the way the world works and lives. Visit us
at www.accenture.com.
Accenture Strategy operates at the intersection of business and
technology. We bring together our capabilities in business,
technology, operations and function strategy to help our clients
envision and execute industry-specific strategies that support
enterprise wide transformation. Our focus on issues related to
digital disruption, competitiveness, global operating models,
talent and leadership help drive both efficiencies and growth. For
more information, follow @AccentureStrat or visit
www.accenture.com/strategy.
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AccentureLucy Davies, + 44 777 3044
808lucy.d.davies@accenture.com
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