Customer retention Promoting loyalty in B2B
It is less expensive to do business with an existing customer than to acquire a new one. In retail, this applies equally to private and business customers. But how can retailers strengthen loyalty with business customers?
Private customers who regularly make purchases at the same online shop are pleased when the retailer rewards their loyalty with a special discount. Price discounts also play an important role in the B2B business. As companies constantly keep track of their spending, business customers will actively ask for these discounts anyway. Discounts as a tool for customer retention are relatively limited in this area.
Perfect shopping experience, perfect processes
Loyalty needs time to grow. The optimal presentation of products in the online shop provides a basis for this. Purchasers in companies and the self-employed are also private customers at other retailers. And this shapes their expectations in their job. Amazon and Zalando continue to set the standard for the customer experience.
A clear structure and straightforward navigation are a must for a B2B online shop. Ideally, the search function in an online shop will also respond to synonyms or rarely used terms. “Transparent sleeve” or “plastic sleeve” will in this case take customers to the same product.
The requirement is simple: the online shop will be a success if retailers themselves would enjoy shopping there. The devices customers use should not have any impact on the positive experience.
Product descriptions do not need to entice B2B customers, but they should answer all major questions, such as on the compatibility of devices.
A good B2B online shop will take customers’ processes and procedures into account. This will affect issues such as:
- the inclusion of cost centers on invoices and order confirmations, differing delivery addresses,
- the listing of contact partners and
- the selection of payment types. Advance payment and PayPal are rather unusual in business life.
The impatience of private consumers is rarely found in the B2B segment. Same-day deliveries are, with the exception of urgently needed spare parts, unnecessary. However, retailers can impress customers with their reliability in keeping to appointment times and delivery deadlines.
I understand what you need
Business customers purchase goods and services to meet specific needs. They do not “shop” and “browse”; they procure goods in an efficient manner. There are several approaches for achieving greater customer loyalty.
- Items and shopping lists (“recent purchases”) in the online shop which can be added in full or in part back into the shopping basket make the process of purchasing consumables easier.
- E-mails to customers can have the same positive effect, reminding them that one of their products is about to run out.
- Or the shop can greet customers with messages about new products, lower prices or related items, based on their customer history.
A type of subscription model can also help with customer retention, such as the delivery of consumables at regular fixed intervals.
Don’t shy away from problems
An item that is suddenly not in stock, a damaged parcel or a non-functioning product: problems can crop up in B2B too. In such cases, business customers expect solutions rather than words of regret. The use of discretion when damage occurs, and clear communication make a difference to customer satisfaction and in turn to loyalty.
Disappearing and communicating only reluctantly or not at all will usually end the customer relationship.
Gifts help to maintain the friendship
When talking about business customers, companies of all sizes are included. There are operations with hundreds of employees, but also the self-employed with only a few staff.
The purchaser at a major company will probably not notice the free tin of biscuits included with an order. But the gift may be very welcome at an office run by someone who is self-employed. As always in life, small gifts can help to maintain a friendship. Retailers who use software to manage such attentions have an advantage.
Customer retention in B2B commerce follows a surprisingly simple rule: treat customers the way you would expect to be treated yourself.
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