Recent events have rendered the phrase “business as
usual” wholly irrelevant. The drive toward digital
transformation – already a primary focus for most
organizations – is now at the top of the priority list, as
businesses shift strategies to find their path to recovery
in the “new normal.”
Nowhere is this more evident than in the world of business-to-business (B2B) selling. In-person sales engagements and demand-generating events are mostly off the table, and new challenges are arising from disrupted supply chains and wild shifts in demand. In this environment, digital sales strategies can be a lifeline to revenue while offering more business agility than traditional sales models.
E-commerce was already a fast-growing sector within B2B for several reasons, but primarily because the loyal B2B customer is becoming rare. Accenture recently found that 80% of frequent business buyers switched vendors in a 24-month period.* This is largely driven by an influx of millennials into business buying groups. Being digital natives, these younger buyers are accustomed to the turnkey convenience of consumer shopping experiences and self-served product and service discovery and research – and current events only have accelerated this trend. To meet their expectations, complex business selling and buying processes must be simplified.
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