INDUSTRY WATCH
LEADERSHIP IS SLOWLY
WAKING UP TO THE FACT
THAT FAILING TO OFFER
THE QUALITY DIGITAL
EXPERIENCES BUYERS
EXPECT MEANS LOSING
SALES TO COMPETITORS.
T
he gravity of digital innovation in
manufacturing today is genuine;
for many brands, it’s a real case
of innovate or die. However, plagued with
antiquated processes and systems, many
manufacturers are struggling to achieve
significant digital change.
A number of manufacturers have taken
the correct first steps towards digital
innovation by digitising catalogues,
for example. However, our research
shows that they still fail to provide
many increasingly essential tools
such as tailored product information,
relevant pricing and payment options,
and the right combination of flexible
and adaptable buying and selling
touchpoints. These tools are necessary
to provide professional buyers with the
seamless experiences and flexibility
characteristics of B2C sales, in the much
more complex B2B environment.
Recent changes in the industry are now
opening the door even further for digital
innovation. Historically, manufacturers
have primarily sold to the channel, not
the end buyer. This focus on channel
sales meant most manufacturers saw
little urgency to innovate digitally. But as
B2B buyers have become more digitally
savvy, many are now increasingly
turning to manufacturers’ sites for more
information about products and direct
purchasing options.
Leadership is slowly waking up to the fact
that failing to offer the quality digital
experiences buyers expect means losing
sales to competitors. Of B2B business
www.intelligentcio.com
leaders, 45% believe they have lost a
customer due to the quality of their
eCommerce experiences and 82%
think they need to improve eCommerce
experiences in the next year or face
negative customer retention. Similarly,
80% believe they will see a negative
impact on customer acquisition if
eCommerce experiences aren’t improved.
There’s a growing realisation that
manufacturers who can successfully
enable seamless research or buying
experiences for the end customer – not
just channel partners – will have an
advantage as this industry trend evolves.
However, while company leaders are
starting to understand the urgency for
eCommerce innovation, 91% of B2B
sellers agree that their companies’
leadership is investing enough money
and resources into improving the digital
customer experience – few are actually
making the right investments.
Taking the wrong turn
Despite their best intentions, many
manufacturers head off down the wrong
path from the outset, turning to legacy
eCommerce systems designed for simple,
mainstream, consumer commerce.
The world of B2B buying and selling is
almost nothing like its B2C counterpart.
In addition to longer sales cycles and
multiple channels of interaction, there
are often unique needs for product
assortment and payment options. Legacy
platforms designed for B2C sales will
never enable this type of selling.
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