A new report on B2B electronic transformation finds that, while previously waves were designed to do a lot more with fewer people, the focus has shifted to improving the customer encounter.
“ The 2019 FPX Digital Transformation Study ” [free, registration required], out this week, is founded on online surveys of 229 U. S i9000. -based B2B decision makers within a range of industries, including manufacturing (half of the respondents), financial services, health care plus telecommunications, in companies having a minimum of $25 million in revenue.
“ Improving the customer experience. ” A vital insight, Director of Product Advertising Matt Noyes told me via e-mail, is “ the emphasis associated with Digital Transformation as an initiative that will delivers a better [customer] experience as opposed to improving internal procedures. ”
He mentioned this means that manufacturers in particular, which have typically focused on selling through internal groups and resellers/vendors, are now “ centered on looking at selling directly to the customer by having an emphasis on potentially adding e-commerce stations. ”
Of the 68 percent of respondents engaged in an electronic transformation, more than half — 58 % — say a key goal provides a better buying experience for customers. Plus 95 percent of all respondents concur or strongly agree that “ digital transformation funds are best used on improving the buyer experience. ” In the mean time, 98 percent say enhancing the customer experience is the best way to drive product sales.
“ Counter-top to pre-survey hypothesis. ” As a provider of CPQ (configure-price-quote) software, FPX clearly includes a horse in this race, since it desires businesses to update their quoting tools.
But cost quoting software applies to both inner processes and customer experience. The entire takeaway from the survey is that B2B businesses, in becoming digital, are actually looking more at ways to enhance customer experience than at producing internal processes more efficient. For instance, the particular report found that customer-facing technology is rated higher than internal performance tools for ROI.
“ This particular runs counter to a pre-survey speculation, ” Noyes said, “ that many organizations want to focus on internal procedures when undertaking a digital transformation effort. ”
Customer-facing technologies. FPX highlights that advanced customer-facing technologies tend to be more important to improving customer experience regarding complex products like cars or even aerospace parts, because customers require more detailed information, education and item selection.
An overwhelming 93 percent of respondents said that B2B buyers “ want the ability to study products and receive quotes without actually speaking to a sales representative. ”
This is the first statement from FPX on how B2B businesses “ are defining and prioritizing digital transformation” within their organizations, even though company has conducted previous research which specifically looked at CPQ ownership.
Why you should treatment. While B2C businesses are all focused on the customer, a key query about B2B companies undergoing electronic transformation is whether efficiency or clients get first dibs.
The answer to that question directly impacts how B2B marketers keep up with the particular demand of customers, who increasingly wish to research, compare and even decide on their particular product choice by themselves, online, prior to talking with sales.
In other words, a B2B company putting an emphasis on its digital customer experience any where marketing is largely about giving tools and resources for customers involved in self-marketing. This survey report shows that most of the respondents see that because the more rewarding goal, compared to enhancing internal efficiency.
This story first appeared on MarTech Today. For more on marketing technologies, click here.
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