Customer Experience

Poor Digital Customer Experience & Other Reasons Your Competition Is Stealing Your Customers

Poor Digital Customer Experience-09

There are a million different metrics you can use to measure the success of your digital customer experience. But, if you’re consistently losing customers to a competitor, the solution won't be found exclusively in data. In today’s eCommerce environment, it’s not exactly a secret that the best buyer experience usually wins.

eBook Download: Enabling Self-Service eCommerce in B2B and B2C

According to the experts, you need to be able to satisfy customers' instant gratification now more than ever. You need agile, modern, tech-driven tools to meet heightened online market expectations. And you need to offer transaction methods that let people buy however, whenever, and wherever they feel most comfortable shopping.

Because – if you don’t – someone else will. And they’ll be the ones at the top come tomorrow. So, why is your competition getting your customers?

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Your Digital Customer Experience Needs Work

The evolution of today’s digital customer experience is creating never-before-seen business conditions. In many cases, traditional thinking has been turned upside-down. And only those organizations adapting quickly will survive. If 2020 taught us anything, it’s that a seamless, satisfying buyer experience has never been more important – regardless of your role or the industry you work in.

But that doesn’t mean you can just build a mobile app or update your online storefront and call it a day. Far from it, actually. Because your competitors are already using new technologies to create deeper, more meaningful relationships with potential customers. And – if left unopposed – they’ll start to sway your shoppers, too.

There’s no way around it; your digital customer experience needs some work. You need to offer more collaboration, more efficient ways to interact, and more convenient transactions to and for your customers. But none of this is possible without a relentless pursuit to prioritize your buyer experience over almost everything else.

It’s true – today everyone is obsessed with speed. And this mindset is making customer experience a primary differentiator. Or, a primary drawback if you haven’t addressed this trend yet. Simplicity and ease-of-use can (and increasingly does) determine the ultimate success or failure of today’s enterprise operations.

Related Content: How to Provide Top-Notch Digital Customer Experience in 2021

More than ever, today’s online consumers value the experience a transaction offers. There are hundreds – if not thousands – of places they can go to buy. The most successful businesses are the ones that not only offer the product, service, or solution desired. They’re the ones that know how to make a purchase feel personal, effortless, and valuable in their own unique way.

If you need proof of how important this mindset has become, look no further than the massive investments being into mobile apps and self-service capabilities. Over the last several years, these innovations have gone from optional to mission-critical where your digital customer experience is concerned.

However, an effortless buyer experience doesn’t happen overnight. Or without a lot of work done on your behalf. Because it takes a delicate blend of emotions, science, and technology to deliver. It takes the elimination of every unnecessary and inefficient step throughout the process. And it takes one-click or one-button agreement acceptance to do well.

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Lack of Automated Selling

There are many ways to speed up your transactions and build a better digital customer experience. Traditional contracting, however, is not the answer. In fact, in pretty much every facet it’s the exact opposite of what you’re trying to do. Whether you use PDFs, email, or old-fashioned pen-and-paper agreements, these processes are tedious and extremely linear.

While your contracts may have worked well for years, they fail to offer the flexibility, speed, and convenience today’s online buyers demand. But there’s a solution that can help you overcome this outdated approach: automation.

By implementing technology-fueled workflows to automate contract creation and presentation processes, your buyer experience delivers new business opportunity through a more engaging and efficient customer experience.

But embracing contract automation doesn’t only benefit your business and your buyers. It benefits you, too – no matter how involved (or not) you are in these agreements. These tools put more time back into your day so you can stay focused on giving your shoppers the best possible interaction. It gives you more control over each transaction. And it takes a lot of the time-intensive work you dread doing off of your plate.

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If only your company could sell in its sleep. Well, that dream may not be far off from reality anymore. The truth is, most of your online transactions don’t need a sales rep – or any human involvement, for that matter. Because legal micromanagement (combined with far too many steps) creates bottlenecks that cost you time, money, and – in some cases – the deal itself.

Using Clickwrap Transaction Platforms (CTPs)

The good thing is, introducing clickwrap agreements and a Clickwrap Transaction Platform (CTP) into your digital customer experience to satisfy legal compliance needs, shorten your sales cycle, and elevate your online business strategies in one fell swoop.

Through fully automated contracting workflows and content management engines powering every digital transaction, this combination gives your buyer experience the transaction speed and convenience that today’s modern shoppers demand. And that means no more deals left on the table for your competition to steal.

Your Legal Team's Contract Processes Delay Deals

Legal often works in a silo, but you might be losing customers because of this. Legal needs to touch almost every single transaction that goes in and out the door at your enterprise. However, as a department, they are woefully behind on technology adoption, and their manual processes slow deals down. 

Your average, non-standardized contract costs almost 40% more than it did a decade ago. And considering that equates to roughly $7,000 for your easiest deals, you can see how too many hands and unnecessarily manual contract management can make costs add up fast.

Regardless of how involved your IT team is in the daily affairs of legal contracts, your job is to help your business prioritize efficiency and collaboration across its transaction so buyers receive the digital customer experience they’ve come to expect.

Related Content: 3 Ways to Prevent Deal Fatigue

Did you know that the average B2B deal takes between six and nine months to finish? No modern buyer wants an experience that slow-moving and complex – even if there are millions of dollars on the table. As you already know, the longer a transaction takes to complete, the more likely it is that a customer gets tired of waiting. Causing them to abandon the deal and move on to another competitor instead.

Improve Your Digital Customer Experience

Want to help your company update its online sales strategies? Make its digital buyer experience better? And beat your competition through more efficient and easy transactions? Read up on how tools within the Clickwrap Transaction Platform category can help you in Aragon Research's report!

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