Up your strategic game
A new model of digital commerce has eliminated the brick walls that formerly existed between channels. Hence, B2B brands must have a strategy that allows them to drive transactions across all customer touchpoints: offline, online and in some cases even omni-channel. Most B2B brands already have strong relationships with their customers in a traditional fashion, or with purchasing agents who have bought from them via catalogs. However, many of these relationships are based on personal connections that may not exist in the digital age. In response, B2B companies are rethinking their footprint to capture a new segment of customers who expect different things, for example: on to purchase, once they research a product on a brand’s website.
B2B traditional buyers value convenience
These “traditional” B2B buyers, who now expect consumer-like experiences, have shifted much of their offline purchasing to the websites of partners and resellers, solely for the convenience of buying online. In order to attract these migrating customers, B2B brands need to provide partner guidance on pricing, transparency of inventory and marketing.
Brand loyalists will pay a premium
Many B2B buyers will pay a premium to do business with brands where they have an existing relationship, given the value they receive from the brand’s website or entity (either directly or in some cases via firstparty marketplaces where the distributor provides the fulfillment, e.g., Amazon). B2B brands can retain these direct buyers and generate more revenue from their digital properties by offering sites and customer experiences that are competitive with digital pureplays such as Amazon.