Although the main drivers for B2B companies to start their digitization journey are to streamline sales and simplify administration, business customers experience benefits such as greater flexibility with self-service with 24/7 access to products and information.
Among companies that sell via digital channels, digital sales account for an average of 30% of the total. The rest is either via the own sales organization or indirect sales via partners or resellers.
More focus on the customer journey and increased investments
A greater number of B2B merchants are spending more time understanding the customer journey to design their digital services. The main reason is stated to be to improve customer service and to simplify the purchasing process. In this way, companies can ensure that their investments are beneficial both for themselves and their customers.
13% of companies indicate that they will increase their investment in digital commerce due to an impending recession, only 4% will reduce the investment. E-commerce continues to be a high priority for many B2B companies. It is stated that it is important to increase investments to improve the customer experience, reach new markets and streamline costs.
Challenges of selling digitally
An example of the companies that see that certain parts of their business suits well for digitalization might be the aftermarket and spare parts sales that can be moved to a digital channel for self-service. It can also be useful to see digital channels as a tool to support personal relationships and sales instead of a substitute.
According to Litium's B2B report, these are the main reasons given for companies not selling digitally today:
- 29% have difficulty translating personal selling and relationships into digital.
- 19% see challenges in managing different customers or offers on the same digital platform.
- 18% consider that they do not have sufficient digital skills internally.
- 17% say that they already have established procedures and practices of working.
With increased competition from global players, marketplaces and more price-conscious consumers, offering a better customer experience, convenience and self-service can get customers to switch to a competitor quickly.
Download and read the full report at Litium.se.
