B2B Customer Journey Case Studies (1)
IBM, FEDEX and General Electric are companies that have successfully used B2B customer journeys to guide their marketing and sales strategies. By and large, the B2B customer experience focus of these companies drive their desire and their successful results by providing assistance to B2B customers in adopting their technologies and services, aiding them in upgrading and optimizing when they develop new technologies, and educating the customer on management of their services. Most importantly, these companies focused on social selling and educating the companies to ensure a seamless integration for an easy customer journey with their products and services from start to end. The companies that we found to have engaged on journeys with these companies boasted successes and metrics that we have also included below.
- Despite the sales force of social media, currently only 93% of B2B executives have received formal training on social selling. In contrast, 70% of B2B service purchasers use social media to help them make purchasing decisions, and 55% of all buyers use it for research.
- B2B sales reps were 69% more likely to exceed quotas and generate more profit by viewing ten or more account profiles than those who viewed 4 or fewer profiles of people at each of their accounts like traditional sellers.
- 92% of B2B buyers engage with sales professionals that they believe to be industry thought leaders.
- IBM was recognized as the second most valuable B2B company in the world. Nearly around 44 percent of businesses are aware of their retention rate.
- International Business Machines Corporation (IBM) develops and manufactures computers and computing technologies for business environments.
- IBM has done extensive work with nanotechnology and cloud storage in recent years that has made them a one-stop shop for everything tech and as a market leader and established the company as a market leader.
- Despite a 6% loss in value, IBM was still ranked second and was approximately more than $30 million ahead of UPS which was ranked third.
- IBM’s financial achievements and growth is contributed to by many factors with their exceptional customer experience being a main driver.
- IBM invested in customer-facing specialists in their Cloud Storage service to support all stages of the customer journey including helping them integrate the technology in their own systems, manage the Cloud and use its maximum potential.
- IBMs team of specialists helps ensure customer engagement, higher contract renewal, and use personalized approaches to reach customers and increase their product awareness.
- IBM customer specialists help customers manage the IBM Cloud, and utilize it to its full potential.
- IBM’s personalized account approach encourages both personal interaction and product awareness.
- IBM puts that less than half of organizations deliver seamless omni-channel experiences but they are necessary to deliver effective CX, an aspect that the leaders have already implemented.
- IBM made $17 billion in cloud revenue in 2017 which was an increase of 24 percent from the previous year.
- The IBM® z14™, a "cloud mainframe with next-level encryption and processing capabilities", was released in 2018. As a result the company had their strongest sales cycles in years and surpassed the previous model with a significant portion of sales coming from existing customers. IBM increased their profits by 20 percent, earned $19 billion in cloud revenue, and cloud services accounts for 21 percent of their total revenue. These increase in revenue is given to be due to the company's commitment to customer loyalty which led to development of teams to inform the customer journey.
- IBM has released research insights to help their customers stand out in B2B customer engagement and put that the industry leaders are those that revolutionize and can provide a unique experience and approach customer experiences and engagements differently.
- It is put that IBM increased its sales by 400% through their social selling program.
- FedEx was the 12th most financially successful B2B companies in the world in 2018, made number 10 in the top 10
- FedEx delivers exceptional customer experiences (CX) and continuously seeks new best practices for the company.
- FedEx helps guide their B2B customer journeys with extensive and informed internal and external information. Examples include how the company has redesigned their newsletter from using 5 different agencies to produce content and changed to produce new output content from 80 to 20 percent spread between 2 teams. This strategy is said to have generated double-digit increases and reduced ROI costs.
- In terms of exceptional CX and the search for new best practices, FedEx is put to be not afraid to make large-scale changes to their content, operations, and data sharing and that they are "ahead of the curve" in their communication with customers.
- FedEx purposefully attempted to increase consumer confidence by building a system that automatically records package drop offs and instantly sends notifications to the customer's account. They give that their immersion in the user experience give them firsthand understandings of user paths and pain points.
- FedEx also created a mobile experience to educate and guide customers through their customer journeys based on their location and shipping needs.
- GE was valued at over $40 billion with many divisions and branches. One of those branches, GE Additive is a dedicated B2B manufacturing business with a commitment to customer experience that contributed to GE's second place on Sacunas' 100 Top B2B brands list.
- To enhance their CX, the company built two Customer Experience Centers in Pittsburgh and Munich, the centers give customers an experiential look at the company's manufacturing capabilities, acclimate them to the manufacturing process, and exhibit the value of working with GE. This interaction allows GE not only a great marketing opportunity but allowed for the building of personal relationships, an opportunity for GE to personalize services and immediately respond to the customers' desires.
- It is put that it is too early to determine whether these centers could be a turning point for the company due to the percentage point decrease they experienced due to cash flow problems that occurred at the same time the Centers were introduced.
- GE Additive attracted customers through a holistic and educational approach that informed the customer journey and was the result of better business cases and decisions and they explained the hows and whys their technologies attraction to customers.
- GE Healthcare (GEHC) is a global leader in B2B sales of diagnostic equipment to department heads of large hospitals but even in the face of changing decision makers and diversity, the company Prophet helped them to tailor integrated solutions for different segments of need. This first of its kind segmentation also identified plans-to-win tailored for each segment to include the development of new product lines, creating new sub-brands, new selling approaches to target hospital heads, and the integration of new technologies and information services for more complete solutions for the individual segments.
- As a result of the partnership with Prophet GE gained access to a greater portion of the market and impacted more decision makers, and it is put that by expanding the conversation from engineering to needs-based solutions they are a much stronger partner to healthcare providers and have greater capability for future developments.