The Underappreciated Value of Seamless Onboarding in B2B Payments

In B2B payments, the onboarding process can make or break a business. This critical phase sets the tone for the entire customer relationship, and mistakes during onboarding can have lasting consequences. Unfortunately, many businesses struggle with onboarding, leading to customer drop-offs and missed opportunities. However, with a focus on human-centered design, businesses can turn potential failures into successful starts and build long-lasting customer relationships. 

In this article, you learn the common pitfalls of onboarding, what makes a good onboarding experience, how a human-centered approach is key to better B2B onboarding experiences, and UX writing examples to level up onboarding. 

Understanding slow onboarding

Slow onboarding is a common pitfall in the B2B payment landscape. It refers to the lengthy and often cumbersome process that new clients go through when signing up for a service. This sluggishness can be attributed to several factors:

• Complex Documentation: The need for extensive paperwork to comply with anti-money laundering (AML) and other regulations can bog down the process. 
• Manual Processes: Many B2B payment platforms still rely on manual data entry, which is not only time-consuming but also prone to errors.
• Lack of Standardization: Inconsistent invoicing practices and communication methods across different platforms can create confusion and inefficiencies.

What makes for a good onboarding experience 

In a recent study by North Highland, B2B customers value two things in their onboarding experience above all else: empathy and ease. Here's what the research defined as empathy and ease: 

Empathy: Experiences are based on an in-depth understanding of customer behaviors, feelings, and motivations. 

Ease: Experiences are apparent, accessible, effortless, and uncomplicated, and it is simple for customers to derive value. 

Dedicated support during the onboarding process is the most effective way to ensure customer satisfaction and loyalty. B2B customers often cite this support as the primary reason they continue to do business with a financial institution, expand their relationship with it, or refer it to others. Improved retention rates can directly impact a financial institution's profitability and overall success, highlighting the critical importance of onboarding in meeting these performance standards. 

Common issues in onboarding

Businesses of varying sizes report common issues during the onboarding experience:

• Inefficient Processes: Redundant steps and unclear instructions can frustrate users, leading to a higher abandonment rate.
• Inaccurate Invoices: Errors in invoicing can cause disputes and disrupt cash flow.
• Security Concerns: Multiple systems and communication methods that are not secure can pose a risk to businesses.

Evolving onboarding with Human-Centered Design (HCD)

To address these issues, a human-centered approach to onboarding is essential. This approach focuses on simplifying the process, making it more intuitive, and ensuring security measures are user-friendly. 

Here are some UX writing examples that demonstrate the power of clear and helpful microcopy:

1) Welcome Message: “Welcome to [Payment Platform]! Easy and secure payments are just a few clicks away.”

UX Insight: This message sets a positive tone and expectation. It says that the platform is easy to use and secure. It also sets the expectation that things can be done in just a few clicks.

2) Account Setup Guide: “Let’s get your account up and running. Follow these 3 easy steps to unlock all features.”

UX Insight: By breaking down the setup into ‘3 easy steps’, this microcopy simplifies the process and sets clear expectations. The promise of ‘unlocking features’ adds a gamified incentive for completing the setup.

3) Feature Introduction: “Activate ‘Quick Pay’ now and cut your transaction time in half!”

UX Insight: This example uses urgency and a clear benefit (‘cut your transaction time in half’) to encourage immediate action. It also introduces a feature with a tangible advantage, making it a compelling piece of UX writing.

4) Security Assurance: “Your security is our top priority. Our industry-leading encryption protects every payment.”

UX Insight: This statement reassures users by emphasizing security, a critical concern in B2B payments. Industry-leading assures the user that they are using the best platform available, laying the foundation for a long-term relationship, if you deliver of course ;)

5) Tutorial Prompt: “Stuck on a step? Click the toolbox to troubleshoot with your simple, interactive guide.”

UX Insight: Offering help through an ‘interactive guide’ suggests a hands-on, engaging solution. It addresses potential frustration points and provides a supportive nudge, improving the user experience.

6) Progress Feedback: “You’re doing great! Complete your profile to achieve ‘Pro’ status.”

UX Insight: Positive reinforcement (‘You’re doing great!’) boosts user confidence. The prospect of achieving ‘Pro’ status gamifies the experience, encouraging users to complete their profiles.

7) Support Offer: “Need assistance? Our experts are ready to help you conquer any challenge.”

UX Insight: This copy positions the support team as allies in the user’s journey, using the word ‘conquer’ to gamify overcoming obstacles. It implies that help is not just available but part of a collaborative effort. Dedicated support is one of the biggest reasons that lead to long-term relationships!

WDIR, your partner in B2B onboarding excellence 

A seamless onboarding process in B2B payments is not just about getting businesses to sign up; it’s about setting them up for success. By understanding where businesses commonly fall off and addressing these issues with a human-centered design, we can create onboarding experiences that are efficient, secure, and enjoyable.

If you want to enhance your B2B payment onboarding process, contact WDIR. Our expertise in human-centered design will help you craft an experience that not only meets but exceeds your users’ expectations. Let’s work together to make your onboarding process a launchpad for lasting business relationships.