B2B businesses should be aware that during both uncertain times and “normal” times, change is constant. According to our annual 2021 B2B Buyer Report, 68% of buyers agree that B2B companies must become more comfortable with change to thrive in the post pandemic era. But the best path forward isn’t always clear, especially if peer or leadership buy-in isn’t 100%. That’s why Avionos’ team of experts are here to help provide B2B guidance on implementing changes into your organization to get ahead of the competition.
Mousumi Behari, Digital Strategy practice lead at Avionos, recently sat down to discuss ongoing change and best management practices. Check out her advice below.
Our annual 2021 B2B Report reported that the biggest obstacles to change are lack of peer buy-in and lack of leadership buy-in, at 20% and 19% respectively. Beginning on your path towards the new normal in a post pandemic world, “alignment is the key in any transformation,” says Behari, who understands that being on the same page with your peers is essential to following the goals of your business.
“Once there is a North Star in place, it becomes easier to guide and prioritize projects. Then instead of wondering, is this a good project for us to spend funds on, the question becomes, does this get us to our business goals. If the answer is yes, then the buy-in is most likely there.” To increase peer buy-in for ongoing change, Behari suggests having a workshop where business goals are discussed and everyone aligns to the same KPIs before undergoing digital transformation. Studies show that 55% of workers first turn to their fellow employees to learn new skills and get a sense of culture. They turn to employees before their bosses, as well as before YouTube or Google searches.
How well employees respond to change is reliant on company culture, as well as the business goals put in place. Starting with a workshop to discuss and realign your team keeps everyone’s vision focused on the goals of the company, leading to improvising, adapting, and overcoming any changes thrown in the way.
Transformation is not just an internal process. You need to think about “the customer needs, and the capabilities we have to meet them,” says Behari. If there are any gaps in your capabilities, it is time to change how you meet each unique need of your customers. Understanding where your organization works and where it falls short makes it “easier to create mitigation plans,” and forces management to focus on the right foundation of people, process, and technology. After the path towards customer satisfaction is laid out, “only then would I focus on the flashy tools or features,” she says. (Not sure what digital capabilities are most important to your buyers? Use timely independent research as your starting point.)
Getting Ahead of the Curve
Delaying digital transformation simply isn’t an option in 2021. If your company isn’t focused on “expanding your digital experience, you will be left behind,” says Behari. “I think the pandemic has proved that.”
Customers are demanding something beyond a digital experience. They want to order their products with ease and convenience, as well as receive attention from the brand after their purchase. 90% of B2B buyers would switch to a competitor if a supplier’s digital channel can’t keep up with their needs. But 87% would pay more for a product from a supplier with a superior eCommerce portal. Buyers are flocking to digital experiences because of the ease and convenience of ordering a product, seeing the transparency in fulfillment and having their order history at their fingertips.
Investing your business’s digital strategy to meet the needs of each individual customer will pay dividends now and in the future. Otherwise, you risk losing loyal buyers to the competition.
Ready to get started on your digital journey, or need help crafting your strategic roadmap? Contact us here.