Increasing numbers of B2B companies are investing in customer portals where they can offer the customer a personalised buying experience that includes digital assistance and information. But there are still companies that take orders via telephone or email and close new deals using salespeople out in the field.
Are you one of them? If so, it can be worth considering a B2B portal that allows you to meet new customer demands and exploit broader sales opportunities.
In the traditional B2B buying process, the customer’s first point of contact was always a salesperson. When the customer wanted to buy, they would contact these salespeople for information about the various options on the market before they made their decision.
The buyer has done their research first in peace and quiet, online. When they feel ready, the buyer then contacts a salesperson. This makes it very important to have product information available digitally. This way of doing business may be the most common one if you have non-standardized or complex products where you need advice to place the right order.
But the change in bying behavior is a lot bigger than that. Professional B2B companies often negotiate long-term agreements with one or several suppliers. Those agreements include discounts, service levels, support and delivery terms and so forth. And in most cases they can execute the ordering of products and services online.
Today, increasing numbers of B2B buyers expect to be able to buy where and when they want. So you can easily miss out on a sales opportunity if you don’t have current product information available 24/7. Here are three common pitfalls:
Without a B2B portal, in the long term you’ll miss out on large parts of the buying process. And the reason for this is that the average buyer’s behaviour has changed. Today, it’s above all millennials – those born in “Generation Y”, between 1980 and 2001 – who control the majority of B2B buying power. Studies show that millennials are here, now, and that they're affecting your sales.
Back to the question: Is it worth investing in a B2B portal to handle the demands set by future buyers? Of course the answer is “Yes”.
What you must decide first and foremost is when the time is right for your business to begin your journey into change. The next step is then to prepare the organisation for this change in plenty of time. If you leave this too late, there’s a risk that the organisation won’t have a shared view of what the change means to the company’s different sections, and how it will affect the organisation.
Where you start and what approach you choose depends on a number of factors such as business model, customer needs and existing digital infrastructure. We’ll happily help you find the right path for you to future-proof your business with a B2B portal. Get in touch if you need a sounding board.