B2B brands are pursuing digital transformation — in varying degrees, according to Digital Transformation and the Customer Experience, a study by FPX.
Of 229 B2B decision makers, 68% say their firms are undergoing such a transformation. The process could affect many activities within a company, presumably including email marketing.
Of those that aren’t pursuing a transformation, 25% are delaying the project because they are satisfied with the status quo.
Also, 85% agree that their firm has a clear internal consensus of what digital transformation means.
The top goal is improving the customer experience.
Overall, 58% cite that as an objective, but the number jumps to 63% for manufacturers. However, in an apparent contradiction, only 25% say the best way to drive more sales is to enhance the buyer experience.
Of those polled, 95% agree that digital transformation funds are best spent on improving the customer experience.
In addition, 39% of manufacturers plan to invest in instant quote technology, and 33% expect to spend on configure-price-quote technology.
However, 94% say a faster quote-to-order process will drive additional sales. But 53% admit that the process now takes five days. Another 35% can do it in one to four days, and only 13% can respond in less than a day.
Another spending priority is e-commerce, with 38% planning to invest it in 2019. However, only 28% of non-manufacturers will do so.
At the same time, 38% of the manufacturers will spend on sales portals, along with 34% of non-manufacturers.
Other high priorities include pricing optimization and IoT.
Among the manufacturers, 68% currently have internal portals, 65% have sales portals and 59% rely on internal collaboration technology.
Richard Hearn, CEO of FPX, states that “too many companies are fine with their current capabilities, which in some cases can serve as a death sentence for B2B organizations.”
He adds: “Laggards will quickly fall behind competitors, and must prioritize making technology investments for a better buying and selling experience in 2019.”