What are you looking for in your B2B Digital Transformation?
B2B Online is approaching in early May. We would like to share a preview of some important topics being addressed. Be sure to visit Thinkwrap Commerce at B2B Online at booth 311.
Room for innovation and growth are key reasons why the B2B space is an exciting area for those in the eCommerce industry. As you may have seen in a previous post, the market is predicted to be as large as $1.13 TRILLION by 2020. However, there are still many B2B Wholesale Distributors and Manufacturers who are finding it difficult to establish their competitive edge. While traditional eCommerce thinking would focus on personalizing buyer experiences, the struggle could be as simple as employing this new business approach to the basics of competitive pricing and stock. Another facet of this market segment is clear; the concepts around building an eCommerce strategy are still somewhat new.
No matter the reason, we can be certain there is still room for B2B companies to enter this market and grow. Attending events like B2B Online can help you plan and strategize your B2B Digital Transformation journey. Additionally, there are speakers, breakout sessions and roundtable opportunities to network and learn more about the industry’s challenges and how some have mastered the transition. For this reason, we’d like to give you an idea of what to expect this year at B2B Online, by examining of some of the key topics.
Thinkwrap understands that B2B omnichannel commerce involves every part of the customer journey, from the importance of selling products which solve broader customer needs, to designing a tailor-made experience for each customer. Whether you’re attending B2B Online or not, we’d be happy to sit down with you and discuss your B2B Digital Roadmap. Feel free to contact us here, and continue reading for the 4 trends to look out for at B2B Online.
Omnichannel as it relates to B2B
B2B commerce has never operated and never will operate the same way as B2C commerce. A huge difference in the two is the fact that complex B2B transactions cannot be fully automated. Yes, there is definitely utility for automation in sales, but what we’re seeing in the current landscape is a change from every customer touchpoint involving human contact, to expanding traditional salesperson-customer relationships supplemented by digital channels.
Conversely, your digital channels cannot be limited to the internet. Salespeople and human-to-human interactions continue to provide value in forging B2B partnerships. However, if you are implementing eCommerce systems and your salespeople are unable to, or worse, are uninterested in actually using the tools you’re investing in, then you are losing sales.
Your Digital Transformation strategy should include integration with all of your current channels in order to be truly omnichannel. It should also include Change Management and questioning organizational roles in order to create a system that is easily utilized by salespeople, customers, and channel partners.
- PIM and Merchandising
We unpacked a lot of the benefits and selection criteria of a Product Information Management (PIM) solution in a recent blog. It’s recommended reading for those interested in investing in rich product information. PIM will also be a hot topic at B2B Online with multiple sessions involving this subject.
The most important thing to know about PIM is the utility it brings to the distribution of product data and information to your multiple channels. PIM helps automate the distribution of data in the formats your customers or distributors need in order to make decisions on purchasing. And customers trust those businesses which can provide this data. As quoted in the blog A Discussion on PIM Benefits and Selection Criteria for B2B, Greg Wong, our PIM and MDM expert, noted that in this industry, experts say “Product Information is the New Oil”. The business advantages to be gained through rich product information are vast, so pay attention to this topic when it comes up at B2B Online, and feel free to contact us if you have a question or a business need to address around this omnichannel commerce tool.
- Relationship Building
One of the hallmarks of the B2B business world is the way relationships are established with buyers. B2B salespeople try and track interactions and strategies for influencing key decision makers for their own use, whether in their notes, in their CRM, or elsewhere. Now, however, there are an unprecedented number of opportunities to interact with customers, as a brand.
Through social media, reviews, targeted advertisements, and other channels, there are so many opportunities to interact with customers. This helps to establish not only relationships, but a sort of brand awareness that allows you to control the public image of your company, and the conversation around your products. If a customer places an order with you online, only to be disappointed by the delivered product, you can establish a discussion around the issue, offering solutions, and showing your company is not a faceless entity, but a collection of people dedicated to providing great service.
- Technology and Innovation
As in many industries, B2B eCommerce professionals are interested in the way the technologies of the future will shape the way we do business. From features like visual search, to AI, to the Internet of Things (Thinkwrap customer Aquila/Foxconn’s Bill Mitchell will speak on this), to live support and more.
While these technologies are exciting, and may in fact be a great opportunity for your company to gain ROI and revenue leadership in your market, misusing them, or misunderstanding their use, could be a risk. If you are interested in working with new technologies, a system integrator with vast experience, and a track record of innovation in the industry such as Thinkwrap can help you determine which technologies fit into your strategy, and integrate them with your eCommerce platform.
Whatever your goals at B2B Online are, contacting Thinkwrap Commerce is a great step towards realizing your B2B Digital Transformation goals. We will be at booth 311 ready to answer your questions and offer advice on many topics, including Headless Commerce, PIM and MDM, multiple eCommerce platforms, Change Management, and more.
Are you planning your B2B Digital Transformation?
Contact us for a free consultation.
Aisling is our Demand Marketing Specialist, and loves working with both technology and humans. She studied International Business (concentrating in Marketing) and has spent several years living and working in China, mostly in Shanghai, where she became passionate about global innovation and how the use of social media changes in different cultures. Aisling likes to keep up on internet trends - from business to memes - and is always looking for new ways to learn or entertain herself.