Commentary

B2B Sellers Are "Just Not There Yet"

According to new research from Forrester Consulting, commissioned by Accenture Interactive and SAP hybris, B2B buyer demands have changed the game for B2B sellers. Buyers expect a consistent and personalized experience in every stage of their purchasing journey.

Though business buyers are incorporating digital channels into their buying journey, they aren't the only channels a B2B buyer touches, so sellers must find ways to integrate data from all channels. Seller respondents say that 38% of their customers are using online channels exclusively, while another 32% use a combination of on- and offline channels.

Sellers aren't prepared to deliver a seamless omnichannel experience, and despite knowing exactly what buyers want, they have a hard time meeting their expectations across the customer journey, says the report. B2B sellers just aren't there yet, according to the research.

  • Sellers rated the top barrier to their omnichannel strategy as “difficulty sharing customer data and analytics between channels, countries, or locations.” A top-five response with regards to overall rankings was a “lack of the right business measurements and incentives.” 
  • B2B sellers find personalization to be an implementation challenge in every stage of the buyer journey. Disparate systems and processes complicate data aggregation and sharing efforts, says the report.

However, although many B2B sellers have made strides in developing discrete digital touchpoints, most struggle with weaving them all together with their existing channels to create a seamless omnichannel customer experience.

Level Of Challenge To B2B Marketers And Sales Teams In Creating Personalized Experience For All Stages Of Buyer’s Journey

 

Difficulty In Meeting & Coordinating Needs

Buyers’/Prospects’ Journey Stages

Very Challenging

Somewhat Challenging

Passive discovery of a need

28%

38%

Evaluation of options at high level

29

36

Shortlist of options

25

36

Research to determine best option

25

36

Convert from prospect to customer

27

34

Possession of product or service

24

33

Customers share online or in-person

23

34

Source: Forrester/Accenture/SAP Hybris, September 2015

B2B Buying Habits

While almost all respondents have access to a company-mandated internal portal/company-dedicated buying website, they're using outside sources to research products and services that they purchase for work. Online consumer marketplaces (33%), search engines (26%), and business marketplaces (17%) are the most popular methods of doing so.

Percent of Work Related Purchases Offline &  Researched Offline (2015)

Percent Researched

% of Respondents

   75% or more

22%

   50-74%

24

   25-49%

29

   11-24%

18

   1-10%

7

   None

1

Source: Forrester/Accenture/SAP Hybris, September 2015

B2B buyers not only report higher total spend online but also higher percentages of work purchases made online and a larger average purchase size for online work purchases.

Buying Behavior (Work Related Purchases) From Previous Year

Behavior

Increased

Stayed Same

Total spend

65%

28%

Percent made online

63

27

Average purchase size

53

36

Source: Forrester/Accenture/SAP Hybris, September 2015

B2B buyers have high expectations for engagement across the customer journey, says the report. Today's B2B buyers are looking for the convenience and intimacy they've come to expect from a B2C experience. They're even willing to reward sellers who provide such experiences.

And, B2B sellers say they're investing disproportionately in meeting customer expectations across multiple channels. 74% of North American and European respondents chose “meeting customer expectations” as their top driver for investment in omnichannel initiatives. Closely trailing, 68% of sellers had providing a “consistent customer experience regardless of channel” as a priority. 

Primary Drivers Behind Investment in Omnichannel Initiatives (2015)

Driver

% of Respondents

Meet customer expectations

74%

Consistent experience across channels

65

Customer has higher lifetime value

64

Additional efficiencies and cost savings

60

Match competitor

55

Uplift in customer satisfaction

53

Gain competitive edge over pure-plays

49

International growth

41

Reduce customer service & calls

36

Source: Forrester/Accenture/SAP Hybris, September 2015

More than anything else, B2B buyers want to know the price they're going to pay for something. They don't expect to jump through multiple hoops or wade through several conditions to learn their actual price for a product or service, says the report. The research shows that “price transparency” is even more important to buyers than knowing if a supplier has the lowest price.

First And Second Most Important Factors To Buy Again From Supplier (% Of Respondents)

Factor

Most Important

2nd Most Important

Transparent prices and product details

19%

12%

Track habits and make recommendations

16

6

Broadest selections of products or services

13

12

Consistantly lower prices

12

13

Multiple payment options

10

10

Omnichannel capabilities

9

9

Source: Forrester/Accenture/SAP Hybris, September 2015

B2B sellers must take control of their omnichannel experience, concludes the report. Sellers are on the right track by trying to implement omnichannel touchpoints, but must amp up the integration of technology platforms with people and processes to support a real-time operating environment.

Creating personalized omnichannel engagement requires:

  • Technology that supports today's complex customer journey. Customers enjoy their freedom to take any path to purchase they so choose; the idea of a funnel where customers go into the top and come out the bottom no longer exists.
  • Mapping customer journeys to understand typical customers' interests and behaviors.
  • Determining what capabilities your company needs to serve your customer on his journey.
  • Comparing these capabilities to your systems of engagement to see where there are gaps that can be filled by existing systems or new investments.

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