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May 2022

Mohammad Anas Wahaj | 22 mar 2022

Just like in most businesses, digital in business-to-business (B2B) is transforming customer relationships. Digital transformation is the way forward to succeed in B2B space. According to Michiel Schipperus, CEO of Sana Commerce, mentioned in ITProPortal article 'Why should e-commerce sit at the heart of a business’ digital transformation?' (25 may 2018), 'In a recent survey that we conducted with 300 global B2B organisations, 75% of respondents said that their customers had demanded to buy online, and three quarters of those gave 'ease of online purchasing' as the reason...Our survey found that over half of companies believe that web stores are the most important route to market...our survey found that 63% of organisations have a digital transformation strategy in place...According to our research nearly 70% of companies will use the Internet of Things (IoT) or machine to machine technology to enable automated and/or predictive ordering for customers. While 67% believe that virtual reality will help personalise the B2B buying experience.' Chris Shalchi, President and CEO of Mavecca Group, explains the benefits of digital transformation for B2B businesses and what is required to provide value and meet customer expectations in the highly competitive B2B ecosystem. He provides 4 benefits of transforming to digital-native ecosystem - (1) Managing buyer expectations is easier through digital as more and more customers prefer purchasing online and find it comfortable for subsequent buying. (2) Through right B2B e-commerce software businesses can provide enhanced buyer experience with improved processes and automation. With data and analytics, the knowledge about consumers can help organizations customize buyer experience for better relationships. (3) With digital B2B businesses can develop an automatic cross-sell and up-sell suggestion program to reach existing customers and expand customer base, thus increasing sales. (4) Using data and analytics to enhance decision making is one of the key benefits of digital. With the use of artificial intelligence (AI) and machine learning (ML) that would provide predictive analytics, organizations have better control and enhanced decision-making, resulting in improved processes. As substantial decision-making in B2B purchases happens before a sales person is contacted, B2B businesses can create and deliver engaging content and have an elaborate communications strategy through digital channels for initiating purchase. B2B organizations have to fully understand what their customers want. Aligning of marketing and sales functions, and efficiently using data is important for overall customer-focused digital strategy. Read on...

Forbes: Make Your B2B Business A Digital Business
Author: Chris Shalchi



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