“Slow and steady wins the race.” – From ‘The Tortoise and the Hare’
While the moral of this famous Aesop tale applies to a variety of situations, it’s just not the case for the modern B2B marketplace. The pace continues to accelerate, and companies that are slow to respond will be left in the dust.
B2B buyers’ expectations are on the rise. They want a purchase experience that mirrors the one B2C consumers enjoy. One that’s seamless across multiple channels and gives them accurate and detailed product information, reduced shipping and delivery times, and 24/7 self-service access.
According to a recent Forrester study, 75% of B2B buyers prefer the convenience of online purchasing rather than going through a sales rep. Additionally, more than half of global B2B buyers will make at least 50% of their purchases online in the next three years.
How can B2B companies shift gears to gain the competitive edge needed to win the race?
By understanding and adapting systems, people and technology to support the following trends:
- Optimize the B2B experience to match B2C expectations
- Implement omni-channel strategies and tools
- Switch to insourced B2B commerce platforms
- Empower buyers with self-service commerce sites