A new report on B2B digital transformation reveals that while previous waves were designed to do more with fewer people, the goal now was to enhance customer experience.
" The 2019 Study on Digital Transformation FPX " [free, registration required] published this week, is based on online surveys of 229 US B2B decision makers, in various sectors , including manufacturing industries (half of respondents), financial services, health care and telecommunications, in companies with sales of at least $ 25 million.
"Improving the buyer experience". The director of product marketing, Matt Noyes, told me by e-mail: "The focus on digital transformation is an initiative that offers a better experience [customer] as opposed to the # 39, Improvement of internal processes. "
Hats manufacturers in particular, who have always concentrated their efforts on sales through internal teams and resellers / sellers, are now" focused on direct sales to the customer, with the emphasis being on the potential addition of e-commerce channels. "
More than half – 58% – of the 68% of respondents engaged in a Digital transformation believe that one of the key objectives is to provide a better shopping experience to the customers.And 95% of the people questioned are totally in agreement or totally in agreement for say that "digital transformation funds that are better used to enhance the "buyer experience", while 98% believe that improving the buyer experience is the best way to boost sales .
"Against the hypothesis prior to the investigation." As a provider of CPQ software (prize configuration), FPX clearly has an advantage in this race because it wants companies to update their rating tools.
But price pricing software applies to internal processes and the customer experience. In conclusion, B2B companies have turned to digital to find ways to improve the customer experience rather than making internal processes more efficient. For example, the report found that customer technologies were better ranked than internal efficiency tools for ROI.
Since the FPX survey report (click to enlarge)
" This goes to the the pre-inquiry hypothesis, "said Noyes," that most organizations want to focus on internal processes when launching a digital transformation initiative. "
Customer oriented technologies. FPX points out that advanced customer-centric technologies are more important to enhance the customer experience of complex products such as cars or aerospace parts, because customers need information, to improve the customer experience. information and a choice of more detailed products.
93% of respondents say that B2B buyers "want to be able to search for products and receive quotes without ever talking to a representative."
This is the first report from FPX on how B2B companies "define and prioritize digital transformation" within their organizations, although the company has already conducted studies specifically on the adoption of CPQ.
Why You Should Care? While B2C companies are all customer centric, a key question about B2B companies being digitally transformed is whether efficiency is at the rendezvous or if customers have priority. "
customers, who want to increasingly search, compare and even decide their own product choice, online, before speaking with customers sales.
In other words, a B2B company focusing on its digital customer experience is one where marketing is largely providing tools and resources to customers engaged in self-marketing. This survey report indicates that most respondents view this goal as more rewarding than improving internal efficiency.
This story was first published on MarTech Today. For more information on marketing technology, click here.
About the Author
Barry Levine covers the marketing technology of Third Door Media. Previously, he covered this space as a senior writer for VentureBeat, and he wrote on these technical topics, among others, for publications such as CMSWire and NewsFactor. He founded and directed the website / unit of PBS Thirteen / WNET; worked as a Senior Producer / Writer Online for Viacom; created a successful interactive game, PLAY IT BY EAR: The first CD game; founded and directed an independent film, CENTER SCREEN, based at Harvard and M.I.T .; and served for five years as a consultant to the M.I.T. Media Lab. You can find it on LinkedIn and Twitter on xBarryLevine.