PUBLISHER: QKS Group | PRODUCT CODE: 1445914
PUBLISHER: QKS Group | PRODUCT CODE: 1445914
Quadrant Knowledge Solutions Reveals that B2B Customer Community Market is Projected to Register a CAGR of 13.40 % by 2027.
The advent of digitization, coupled with a rise in customers seeking better customer experiences, has intensified the need to implement collaborative strategies from marketing and digital commerce enterprises to provide improved customer retention rates and empower the organizational employees with the knowledge shared among the business communities. The customer community space and the emergence of B2B customer community platforms are allowing organizations to directly connect with and educate customers and enable communications at scale. Organizations are moving towards customer communities more frequently as it scales their capacity to strengthen customer relationships and retention, allows them to spot emerging trends, provide product education and adoption guidance, and enable prompt customer advocacy.
Quadrant Knowledge Solutions defines a B2B customer community platform as "a platform that enables B2B organizations to offer customer support, onboarding, and training by facilitating digital interactions." The platform offers core functionalities such as self-service portals, peer networking and community support, as well as product education to help brands improve their customer engagement strategy. A B2B Customer Community platform helps businesses foster customer relationships, increase brand loyalty, and drive customer retention as well as product adoption and advocacy by driving digital engagements throughout the customer journey lifecycle.
A B2B Customer Community platform helps marketers to improve customer service as well as cost efficiency and develop collaborations based on each customer's previous interaction and buying behaviour. The B2B companies use customer community platforms to redirect calls from customer service agents and lower call costs by providing community members with peer support. The platform supports a wide range of use cases, including, assisting with adoption, seeking feedback on the products, offering support, facilitating interactions at events, and encouraging client advocacy.
The future of B2B Customer Community platforms looks promising as factors such as the rising need to establish connections between customer communities and creating an engaging channel where customers can learn, share, and achieve added value through content, programs, and events have significantly contributed to the surge in demand and growth of these platforms. These platforms provide integration across customer touchpoints to enhance the synchronization of customer experiences throughout the customer journey. The platform leverages AI and automation to optimize digital engagement and satisfy the changing needs of each individual customer. The use of B2B customer community platforms is continuously growing within organizations to improve customer communication and engagement with audiences in a cost-effective and timely manner.