Experience-Led Growth in B2B Payments: Leveraging UX Writing for A Seamless User Experience

Experience-Led Growth in B2B Payments: Leveraging UX Writing for A Seamless User Experience

In today's dynamic payments landscape, B2B payment platforms are realizing the significance of focusing on their most valuable users—small and medium-sized businesses (SMBs) and suppliers. The shift towards consumer-centric approaches has brought to light the importance of placing SMBs and suppliers at the heart of operations.

This transformation is not only about streamlining payment processes but also about prioritizing the user experience for these essential stakeholders. By ensuring a seamless user experience, adopting innovative Electronic Invoice Presentment and Payment (EIPP) solutions, and harnessing the power of intentional UX writing, B2B payment platforms can elevate their offerings to ensure the happiness of SMBs and suppliers.

This article delves into the advantages of emphasizing SMBs and suppliers as primary users and explores how WDIR, the leading agency in UX for B2B Payments, can help B2B payment platforms excel in this experience-led era.

Elevating SMBs and Suppliers as Primary Users

Successful B2B payment platforms understand that SMBs and suppliers are central to their growth. Much like successful consumer products, such as user-friendly mobile apps, these platforms excel by providing a seamless experience to their key users.

By focusing on intuitive interfaces, easy navigation, and personalized interactions, B2B payment platforms can ensure that SMBs and suppliers find the payment process efficient and hassle-free. Just as consumer apps have revolutionized everyday tasks, B2B payment platforms can transform the way SMBs and suppliers handle their financial transactions, leading to increased loyalty and engagement.

Powerful UX Writing in Action

Invoice Submission Made Simple:
When an SMB needs to submit an invoice, effective UX writing provides step-by-step guidance. Clear instructions and prompts ensure that even users with limited technical abilities can confidently submit invoices without confusion.

Before—>Upload your invoice here
After—>To get started, click the 'Upload Invoice' button below. We'll guide you through the process, making it quick and easy.

Navigating Payment Options: Whether an SMB chooses to pay through a credit card, bank transfer, or digital wallet, intuitive UX writing helps users understand the pros and cons of each method, empowering them to make informed decisions.

Before—>Payment Options
After—>Choose your preferred payment. Pay instantly with a credit card, securely transfer funds from your bank, or use your digital wallet for convenience.

Managing Payment Deadlines: Through proactive notifications and reminders, UX writing ensures that SMBs never miss a payment deadline. Non-obvious scenarios like pending approvals or payment discrepancies are clarified, reducing friction and potential disputes.

Before—>Payment due soon
After—>Your payment is due in 3 days. Make sure you're on track. If you're awaiting approval, don't worry—we'll remind you once it's processed.

Resolving Disputes: In the event of payment discrepancies or disputes, UX writing provides empathetic explanations of the resolution process. Clear language and guided steps help SMBs understand how to address issues effectively.

Before —>Dispute Resolution
After—>Need to resolve a payment issue? We're here to help. Start by explaining the problem, and we'll guide you through the resolution process step by step.

Optimizing Cash Flow: Non-obvious UX writing strategies include educating SMBs about the benefits of early payments and potentially offering discounts. This proactive approach enhances cash flow for both the SMB and the platform.

Before—>Early Payment Discount
After—> Unlock savings by paying early! Pay your invoice within 5 days and enjoy a 2% discount—an easy way to improve your cash flow.

Metrics That Matter

The metrics that resonate most with B2B payment platforms center around user engagement and satisfaction. When the payment process is user-centric and streamlined, SMBs and suppliers are more likely to complete transactions promptly, reducing churn rates and increasing transaction frequency.

According to a study by McKinsey, companies that prioritize user experience outperform their peers in revenue growth, shareholder returns, and net promoter scores. Moreover, 86% of buyers are willing to pay more for a better customer experience, as stated in a survey by PwC.

Additionally, with the adoption of EIPP solutions, platforms can significantly reduce the time and effort required for payment reconciliation and processing. This efficiency not only enhances user satisfaction but also leads to improved operational productivity. A survey by Ardent Partners reveals that organizations utilizing EIPP solutions experience an average of 63% faster invoice processing times and a 52% reduction in invoice processing costs.

Loss of Revenue for Neglecting UX Writing

Neglecting UX writing can have severe repercussions on a B2B payment platform's bottom line. In a survey by UserTesting, 68% of users indicated that a positive experience with a company's website made them more likely to choose its products or services. Conversely, 89% of consumers began doing business with a competitor following a poor user experience. This indicates a direct link between user experience and customer retention.

Poorly designed interfaces, confusing navigation, and unclear payment instructions lead to abandoned transactions and frustrated users. A study by Baymard Institute found that a staggering 69.57% of online shopping carts are abandoned, often due to usability issues. The same principles apply to B2B payment platforms—neglecting UX writing can result in loss of revenue, reduced customer loyalty, and damaged brand reputation.

Expertise That Drives Excellence

As B2B payment platforms strive to cater to the unique needs of SMBs and suppliers, partnering with a specialized agency is essential. WDIR, a trailblazer in UX for B2B payments, brings a wealth of experience in working with leading Financial Institutions.

With a proven track record, we help B2B payment platforms create a user experience that resonates with SMBs and suppliers. Our industry expertise ensures that every interaction is tailored to meet their needs, resulting in increased user loyalty and brand recognition. Get started today and start winning greater market share in the experience-led era!