Expert Mode: B2B and B2C CX Convergence in Insurance
This article was based on the interview with Rajesh Sankaran, CMO at A-MAX Insurance by Greg Kihlström, AI and Marketing Technology keynote speaker for the B2B Agility with Greg Kihlström podcast. Listen to the original episode here:
The lines between B2B and B2C customer experience (CX) are blurring. B2B buyers, influenced by their consumer experiences, now expect the same level of seamlessness and personalization they encounter in their personal lives. For companies operating in both spheres, like insurance providers, understanding these evolving expectations is crucial for success. This convergence presents unique challenges and opportunities, demanding a nuanced approach to CX strategy. This article delves into these complexities, drawing upon insights from Rajesh Sankaran. We’ll explore the evolving landscape of B2B CX, focusing on the insurance industry, and examining strategies for aligning sales and marketing to deliver exceptional customer experiences.
The insurance industry, with its diverse customer base spanning both B2B and B2C segments, offers a compelling case study for examining this convergence. A-MAX Insurance, with its presence in both markets, navigates the complexities of catering to distinct customer needs while acknowledging the overarching trend of rising expectations. By understanding their approach, we can glean valuable lessons for enhancing CX strategies in any industry grappling with similar challenges. Let’s explore key insights from Rajesh’s perspective on how to thrive in this evolving landscape.
The B2B Customer: Not Just Another Consumer, But Still a Consumer
While B2B and B2C customers share the desire for seamless, personalized experiences, their needs diverge in important ways. Sankaran highlights this, noting, “Every B2B customer in their off hours are B2C customers… fundamentally the world’s changed because of our Starbuckses and Netflixes.” However, he also emphasizes that “the decision-making complexity probably is the biggest difference between B2C and B2B.” This nuance is crucial. B2B transactions often involve higher stakes, longer sales cycles, and multiple stakeholders, requiring a more strategic, relationship-focused approach. The personalization required in B2B isn’t simply about recommending the next product; it’s about understanding the intricate needs of a business and offering tailored solutions that drive tangible value.
Alignment: The Unsung Hero of Seamless CX
Sankaran acknowledges the persistent challenge of aligning sales and marketing, particularly in the context of lead generation and content creation. “Salespeople don’t care how you do lead gen,” he observes, highlighting the need for ongoing education and clear communication about marketing activities. This disconnect can create friction in the customer journey. For example, marketing may generate leads that sales doesn’t effectively follow up on, or sales may use outdated materials that don’t reflect the brand’s current messaging.
“Developing those landing pages… scripted material,” Sankaran suggests, are critical for aligning sales and marketing efforts. By providing sales teams with the tools and resources they need to effectively engage with prospects, marketing can empower them to deliver a consistent and positive customer experience. This requires a collaborative approach, where marketing understands the challenges faced by sales and develops solutions that address their specific needs.
The Human Touch in a Digital World
Despite the rise of digital channels, the human element remains crucial in B2B CX, especially in relationship-driven industries like insurance. Sankaran explains that some B2B customers “want to call and they want to talk to that particular agent that they have serviced them for years.” This preference for personalized interaction underscores the importance of empowering agents with the right tools and training.
He emphasizes that providing “structured information” and “templates” for communication can improve consistency and efficiency without sacrificing the personal touch. This balance between automation and human interaction is key. While automation can streamline processes and improve efficiency, it’s important to maintain opportunities for genuine connection and relationship building.
Adapting to the Next Generation of B2B Buyers
Sankaran points to a significant shift in the B2B landscape: “Millennials to Gen Z’s… are the new generation [of] CEOs and CFOs… [who] want to have a completely different type of interaction with other businesses.” This generational shift necessitates a reevaluation of traditional sales and marketing strategies. Younger decision-makers are digitally native and expect seamless, personalized experiences across all channels. They are less receptive to traditional sales tactics and more likely to engage with brands that offer valuable content and build authentic relationships.
This requires a shift in mindset, particularly for established organizations with long-standing sales processes. Sankaran highlights the challenge of a “60-year-old sales leader” adapting to the needs of a 25-year-old customer. Bridging this generational gap requires investment in training and development, empowering sales teams to effectively engage with the next generation of B2B buyers.
The convergence of B2B and B2C CX is not merely a trend; it’s a fundamental shift in how businesses interact with their customers. As B2B buyers increasingly expect consumer-like experiences, companies must adapt their strategies to meet these evolving demands. This requires a deep understanding of the nuances of each customer segment, a commitment to aligning sales and marketing efforts, and a willingness to embrace new technologies and approaches.
In the insurance industry, this convergence is particularly evident, as companies like A-MAX Insurance navigate the complexities of serving both individual consumers and businesses. By focusing on personalization, fostering strong relationships, and empowering their agents, they are successfully navigating this changing landscape. The key takeaway for marketing leaders across industries is clear: the future of B2B CX lies in delivering personalized, seamless experiences that rival the best of the consumer world.
