Consumer behavior is no longer the same as it was years ago. As a result, to overcome the challenge of attracting or retaining an increasingly demanding public, many companies are resorting to solutions such as the Business Experience to adapt to these changes and meet the new needs of their consumers.
Do you know what Business Experience is? Or what is its importance for today’s companies? If not, follow this article and take the opportunity to clarify all your doubts on the subject. Check out!
What Is Business Experience?
Business Experience (or BX) is an approach largely focused on the experience that a company can offer to the customer.
While attention to the customer experience is nothing new, BX has taken on an urgent imperative in business today, largely due to three major challenges plaguing CX as we know it: customer demands, a sea of sameness, and the search for purpose.
The first is a legacy of the 20th-century organization, and the second has been happening for some time. It is a sign of market maturity, and the pandemic has greatly accelerated the third.
As a result, BX’s objective is to ensure more than an exceptional experience; that is, this strategy seeks to shape its products and services to meet the needs of its current audience.
Business Experience vs. Customer Experience
To understand the importance of the Business Experience, it is interesting to know how to differentiate it from another well-known strategy in the corporate environment, the Customer Experience (CX).
In practice, Business Experience is an evolution of CX. This is because the Customer Experience puts the consumer at the center of their actions. Meanwhile, Business Experience takes this view to a much more holistic level.
In addition, CX actions typically fall to CMOs or COOs. BX shares are more under the responsibility of CEOs. Other than that, another difference involves the development of solutions.
While CX aims to develop easy-to-use products and services, BX is concerned with creating solutions adaptable to how customers typically use them. Another point that differentiates both strategies is the marketing vision.
That’s because, in the Customer Experience, the idea is to connect the customer with what the company expects they want. Meanwhile, in Business Experience, the focus is on connecting the customer to his needs.
Why Is BX Important For Companies?
Adopting strategies that bring the concept of Business Experience is important because it makes companies more adaptable to constant changes in consumer behavior.
With this, more than optimizing customer satisfaction, it is possible to guarantee other advantages, such as:
- Greater competitive strength;
- Capacity for innovation ;
- Improvement of workflows and work methods;
- More engagement with the public;
- Greater productivity and efficiency of teams.
How To Apply The Business Experience
Implementing BX means putting a comprehensive, multi-faceted process in place. In this case, the starting point should be the customer’s need. So, the company needs to know more about its audience, from your audience’s desires to their pains and expectations.
It is also crucial that the organization develops a culture focused on innovation. For this, the entire team must be included in the process. And not only people but also all areas of the company must focus on giving customers what they are looking for.
Companies must examine and change their businesses to find new ways to optimize the experience and increase customer satisfaction, facing many of the same challenges.
There’s no better time to determine what a BX versus CX approach can do for your business. BX can be an important mindset shift that, over the years, will be an incredible tool for significant innovations, market differentiation, and customer satisfaction.