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If we accept the adage ‘people buy from people’, then many consumer retention actions* apply to B2B.
(*This article talks about Customer Retention in B2C.)
Organisations keep trusted partners.
To move beyond transactional status, you must meet the needs of the extended decision-making community:
- Meet your contractual obligations.
- Broaden your relationships.
- Align your team to key stakeholders across your customer’s organisation.
- Don’t focus on seniority, create the right conversations and actions.
- Exchange information and ideas.
- Support current challenges.
- Build your capabilities to support your mutual future.
- Boost B2B loyalty with three powerful actions:
1) Instead of waiting for an RFP, help develop new products and services by offering fresh ideas.
2) Don’t wait for cost pressures, understand your customer’s business model and reduce total cost or increase value.
3) Learn about your customer’s strategy and innovate to support their goals
Be known for the right reasons. When people think about your company, you need smiles, not frowns.