Customer experience—that is, the way your customer thinks and feels about your business, based on all the ways they interact with it—is at the heart of eCommerce and can make or break your brand.
By 2023, B2B eCommerce sales are projected to hit $1.8T and account for 17% of all B2B sales. But how do you convert warm, fuzzy customer feelings into trillions of dollars in annual B2B sales? It’s all about choices. Here’s how to create exceptional customer experiences via a variety of equipment payment options.
Your customer might have that coveted piece of equipment in their shopping cart, but a staggering 75% of Clicklease customers said they wouldn’t have purchased without a point-of-sale leasing option. And traditional bank lending poses an even bigger hassle, with mountains of paperwork and manual underwriting delays. Maybe your customer has fewer than two years in business, just launched a startup, or runs a side hustle, but for whatever reason—both full payment up-front and small business loans remain out of reach for many shoppers.
Payment options give entrepreneurs room to breathe, grant them latitude to make savvier decisions, and allow them to obtain an engine for growth by purchasing your equipment. Nothing sweetens customer experience like the ability to buy what they need to build their dreams.
Consumer-facing businesses usually lead the field on innovating for customers, and research indicates that B2B sellers score 15–35% lower on customer experience than B2C sellers. Remember, many of these consumers are the same people—dissatisfied B2B customers see what they’re missing out on when they experience optimized B2C payment options. And when so many people started working from home during the COVID-19 pandemic, consumer roles blurred further.
There’s less distinction between Jill, the consumer buying a new sofa online, and Jill, the small-business owner who needs equipment financing. In both cases, she wants a sterling customer experience that anticipates and meets her needs.
How can you capture some of that B2C magic? Offer several payment options and try to reduce friction (that is, extra steps and hassle that might drive away customers, such as waiting several days for a manually underwritten business loan). Clicklease offers equipment leasing approvals within minutes, and you can easily add it to your online storefront.
Payment flexibility reigns supreme for one generation of customers in particular: Millennials. When surveyed, 87% of buyers between the ages of 22 and 44 expressed a preference for financing large purchases with monthly payments, citing the softened immediate impact on their wallets and their preference for knowing exactly how much to pay and when.
Customers who came of age during or after the 2008 recession prioritize affordability, budgeting, and maintaining a safety net. They’ve relied on point-of-sale financing or leasing for B2C purchases for years and expect to find the same flexibility as they move into B2B equipment shopping.
Further, Millennials make 73% of B2B purchasing decisions, so you can’t afford to miss them. No one else can afford it, either, which is why Millennial preferences have shaped the lending ecosystem. They expect quick approvals, transparent processing, and smooth payment portals—all demands that equipment leasing through Clicklease can check off.
Customer experience doesn’t stop after the purchase; it’s a journey that can loop back to your business again and again as you grow into a trusted resource for your customers’ equipment needs. Get started with easy customer leasing via Clicklease to catch and keep more loyal customers.