3 B2B Initiatives Companies Must Have for 2019
Today, 46% of all B2B researchers and buyers are millennials— and these digitally-native consumers are harder than ever to connect with. Instead of calling up a sales rep to ask about products, buyers spend most of their time researching products online before even making contact with a sales rep.
The success of today’s B2B businesses depends on their ability to cater to this new way of buying. The more businesses are able to support this digital buyer journey, the deeper businesses will be able to connect with their customers and drive sustainable revenue.
To provide these experiences, businesses should focus on implementing the following B2B initiatives for 2019.
B2B Initiatives for 2019: Upgrade the B2B ecommerce site
The B2B ecommerce website is now the spot where buyers are spending the majority of their time, and ultimately where they make up their mind if a product offering is worth pursuing.
To create an engaging ecommerce experience, businesses must go above and beyond just displaying all available products and the accompanying details on an ecommerce website.
The ecommerce experience needs to be personalized so buyers can quickly find the products and content that’s relevant to their real-time needs. And it’s not just a ‘nice to have’— buyers have increasingly grown to expect this, and will even leave a website if they don’t get it.
Adding personalization technology to your ecommerce website is a sure-fire way to enable these experiences for your buyers. In fact, Gartner predicts that by 2020, personalization technology could lead to more than a 15% increase in ecommerce profits.
Below are just a few of the capabilities personalization technology can provide to create a dynamic, real-time, and personalized ecommerce experience.
Just like consumers, buyers’ time is precious. And if businesses don’t respect their time by offering a personalized and simplified online experience, they risk losing that buyer to a competitor that does.
B2B initiatives for 2019: Integrate systems for multi-channel selling
Much like B2C consumers, mobile phones, tablets, and desktop computers all play a part in the B2B buyer journey. As evidence of this, 60% of B2B buyers report that mobile played a significant role in a recent purchase.
This new way of browsing creates a need for consistent and fluid digital experiences. Buyers want to be able to always pick-up where they left off – no matter the channel or device they browse on.
In order to accomplish this, B2B businesses should invest in technology that can bring disparate data together from the CRM, ERP and ecommerce platforms. Powered by a holistic dataset, digital experiences across every channel become consistent and connected.
4-Tell is an example of a technology that provides this capability. Check out this video to see how we work.
B2B initiatives for 2019: Arm sellers with machine-learning technology
Despite the best efforts of sales reps, the traditional method of researching (i.e. piecing together product and buyer information by pining over endless Excel sheets) is not going to set sellers up for success in today’s digital economy. Buyers expect and demand more from sales reps.
Creating the fluid and engaging experience buyers crave requires enabling salespeople with machine-learning technology. With this technology, they can easily access the information that’s crucial to adding value at any stage of the buyer journey including content, product and specific buyer information.
Machine-learning technology, like 4-Tell’s Smart Commerce Platform, can quickly comb through mountains of data to stitch together 360-degree views of each buyer and identify critical content and product information that’s pushed to users in the form of actionable suggestions.
Armed with comprehensive insights and predictive intelligence, every seller— whether brand new to the company or a seasoned veteran— can drive revenue and buyer loyalty by providing valuable product bundling, gap analysis, assortment planning, and content suggestions early on. In fact, studies from CIO Insight have found that sales reps who use sales analytics increase quota attainment 4x faster than non-users.
Implement these 3 B2B initiatives for 2019— or risk falling behind.
B2B buyers have changed. Salespeople no longer have the luxury of waiting for prospects to come knocking at their door, eager to strike up a conversation and learn more about the businesses’ offering. On the contrary, it’s now up to sales teams to proactively enter into the digital conversation with holistic information that’s personalized to buyers real-time needs, behavior and history.
Doing this requires machine-learning technology that can integrate data from across channels, personalize the ecommerce experience, and push predictive product and content suggestions to sales team.
The longer businesses wait to implement these B2B initiatives for 2019, the more likely buyers will invest their loyalty with close competitors that do.
So, what are you waiting for? Sign up for a demo of 4-Tell’s Smart Commerce Platform to see how we can help you knock out all of these B2B initiatives for 2019.