Stand Out Through B2B Digital Transformation

B2B buyers are no longer willing to compromise on digital experience. Today’s B2B buyers are demanding internal digital transformation to keep up with an increasing digital presence. 

Since 2020, buying and selling behavior has transformed, prompting B2B businesses to reexamine how they themselves do business. The first step is internal digital transformation and understanding the buyer persona, expectations, and behaviors.

 

What are the most important needs of B2B buyers? 

B2B buyers are quite clear about what their needs are for an effective digital transformation. Yet, many still hit bumps in the road when it comes to researching purchases. Our 2022 B2B Report established the top three biggest challenges for buyers: they are unable to understand product specifications, find consistent product information, and understand how products would fit into their business in real time.  

If suppliers want to remain competitive, they must fix their B2B digital strategy to better fit the needs of their buyers. 51% of buyers state that suppliers need to ensure online product information is up to date and accurate. While 38% state that making eCommerce websites more user-friendly is a must for creating a positive customer experience. To help enable change management within buyers, suppliers need to focus on: 

  • Providing up-to-date product information
  • Enabling user-friendly sites and mobile apps
  • Making it easier to escalate needs to humans for technical support

Focusing on improving the digital experience for customers will help keep them coming back in the future. 

Buyers will not tolerate waiting for their suppliers to play catch up. Now, more than ever, buyers are open to organizational change in B2B. Although most buyers (77%) believe that their organization is open to change, that hasn’t necessarily translated into actual changes. Companies who fail to evolve are leaving money on the table.  

Suppliers should know what buyers want and don’t want when choosing a vendor for their digital strategy. Satisfy B2B buyers’ needs by implementing accurate and innovative features in their buying experience that solve their biggest pain points. 

 

How do B2B buyers select a supplier?

Our 2022 B2B Report determined that 94% of B2B companies prefer to work with suppliers that continuously evolve their digital capabilities. B2B organizations will not tolerate suppliers who are digital laggards and ineffective at filling in the gaps. 

Findings from our report also showed that the following are the top five deal-breakers when examining possible suppliers: 

  • Frequent supply chain issues 
  • Lack of transparency into fulfillment processes
  • Ineffective cybersecurity measures
  • Too few delivery/shipping updates
  • Inability to purchase directly from a distributor
  • Difficult search functions that make it hard to find products

Think about how your company communicates, how visible it is, and how secure the purchasing process is. Then see where you can improve. 

B2B purchasing and digital transformation is highly complex, leading many buyers to use a variety of digital sources. Having a strong digital presence goes beyond the website. From vendor websites, industry publications, industry influencers, and review websites, buyers are researching and thinking long and hard about the supplier they want to select. 

 

How do B2B buyers make their purchase decision?

85% of B2B buyers have stated that they’d go to another supplier if a business couldn’t keep up with their digital needs. Digital transformation can be daunting, which is why businesses need suppliers that can help determine where to make changes and how. 

It’s important to understand the six B2B buying “jobs” needed to successfully finalize a purchase.

  • Problem Identification – realizing actions need to be taken
  • Solution Exploration – searching for resources to solve our company’s challenges
  • Requirements Building – narrowing the field of possible solutions by building clear expectations for what the company hopes to accomplish
  • Supplier Selection -identifying the perfect partner to accomplish your goals
  • Validation – confirming all factors will work together to achieve the goal of the project
  • Consensus Creation – ensuring all stakeholders are aligned and onboard

More than 77% of customers Gartner surveyed described their purchase as very complex. Highly complicated dynamics within the customer buying journey make it increasingly difficult for customers to make purchases. It is crucial for suppliers to understand how B2B buyers make their decisions to aid in the most beneficial way.

Ready to take the first step? Contact a member of our digital transformation team or download our latest whitepaper, How To Prioritize Customer-Centric Digital Transformation to learn more.

Joe Harouni
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Joe Harouni

Joe is passionate about planning and delivering Commerce solutions that enable a better customer, sales and service experience for his clients. With over two decades of web and app-based solution experience and dozens of launches across multiple platforms and industries, Joe brings an experienced and practical perspective to any objective.

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