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What is Your Client Experience Gap?

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Executive Summary.

  1. Research indicates a closing of the gap
  2. Why closing of the gap is important to your bottom line
  3. Three clear conclusions

pic_andrewFive years back, Bain & Co published a report showing that the gap in B2B client experience was a whopping factor of 10. 80% of vendors assumed that they were delivering a good client experience, whereas only 8% of their clients thought so. Quite a dramatic finding!

The good news is that the gap has narrowed, however it's still pretty poor. Research from Strativity, like Bain & Co, a U.S. based consultancy, supports this. As the graph below shows, their measure covering three important areas indicates that the gap between vendors and clients is a factor of about three regarding client expectations, about the same regarding vendors making a difference and a factor of two in so far as using common sense to act in the clients' best interest is concerned.

client_experience_gap_graph

Whilst this is an improvement, personal experience indicates that there is still plenty of opportunity in SA and Southern Africa.  Most companies haven't invested the time or funds to really understand their clients' needs and wants. And, it remains a huge opportunity to grow bottom line profits very, very cost effectively.  Understanding your clients' needs allows you to address them, thereby building client loyalty and in

so doing, your share of client spend and thereby your Share of Wallet (SoW) in the client. This is not rocket science, rather requires an alternative approach by marketing and sales management. The key being that you invest in the correct clients or run the risk of not getting the commensurate RoI on your investment.

In over 100 learningRelationships engagements, conducted over the last nine years, in South and Sub-Saharan Africa, three things are apparent.

  1. Firstly, clients, with very few exceptions, welcome a vendor's approach in investing in and learning about their business challenges and needs.
  2. Secondly, clients are happy to work collaboratively in addressing their needs; however the vendor must show initiative in doing so.
  3. Thirdly, clients are prepared to invest a considerable amount of time and effort in building closer, longer lasting and mutually profitable relationships with vendors taking this approach.

 

 

Andrew Clare is Managing Partner of reLiance a business to business relationship marketing practice. I focus on improving client profitability through developing, implementing and measuring sustainable, collaborative business to business relationships.

Cell: +27 83 326 2451, E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it , Web: www.rassa.co.za, LinkedIn: www.linkedin.com/in/andrewclare

 

Contact Details

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email andrewc@rassa.co.za

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