Home > Accenture, business and economics, consumer issues > B2B Companies Spending More to Improve their Customers’ Experience But Large Majority are Likely Wasting Up to Half of Their Investments, Accenture Study Finds

B2B Companies Spending More to Improve their Customers’ Experience But Large Majority are Likely Wasting Up to Half of Their Investments, Accenture Study Finds

July 1, 2014

B2B Companies Spending More to Improve their Customers’ Experience But Large Majority are Likely Wasting Up to Half of Their Investments, Accenture Study Finds
Source: Accenture

The overwhelming majority of business-to-business (B2B) organizations are spending more on initiatives to improve their customers’ experience but many are not getting the most return on those investments, according to new research from Accenture (NYSE: ACN). In fact, the study, based on a survey of 1,458 sales, service and customer executives of B2B companies in 13 countries, suggests most (76 percent) may be wasting up to half of their investment on ineffective customer experience initiatives.

Accenture’s research indicates that executives believe their business customers increasingly are exhibiting consumer-like behavior in terms of how they view, interact with and buy from their suppliers; including their knowledge of the market, higher expectations and greater price sensitivity. As a result, 43 percent of B2B supplier executives say they intend to increase spending on improving customer experience programs by 6 percent or more over the next fiscal year. However, more than half the respondents admit that their customer experience programs had achieved little, flat or negative return in terms of retaining customers (55 percent) and building global revenues (52 percent).

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