B2B companies are seeing the impact of happy online customers—repeat web business has been key to growing sales. For example, industrial supply giant Grainger has found that an easy, well-designed online shopping experience can triple sales by existing customers.

A Gartner survey confirms that “Customer Experience is the New Battlefield.” Eighty-nine percent (89%) of companies expect to compete mostly on the basis of customer experience. That experience is becoming mostly defined by online interactions—by 2020 85% of the activities associated with the relationship between the customer and a business will be virtual.

So, among all of the many good reasons to focus on and invest in a world-class customer experience: it’s good for the bottom line.

5 Stats on Customer Experience

  1. 86% of buyers will pay more for a better customer experience — Remember that your B2B buyer is also a B2C shopper. Their expectations have been shaped by their B2C experiences: they want high-quality customer service and thorough online shopping options.
  2. 74% of consumers have spent more due to a good customer experience — An American Express study shows that happy customers spend more.
  3. Up to 20% of annual revenue is lost from poor customer experiences — This Oracle CX survey highlights the need for new approaches to deliver a seamless experience.
  4. 42% of service agents cannot efficiently resolve customer issues due to outdated systems — There’s a huge opportunity to improve bottom-line profitability by improving both processes and infrastructure.
  5. 59% (three in five Americans) would try a new brand or company for a better experience — Consumers vote with their wallets. According to this American Express survey, 78% of consumers will bail on a transaction because of a poor experience.

There’s no room for doubt: it’s time to take a hard look at your current customer experience and invest in the people, processes, and e-commerce technology that can help you make it better.