Future of B2B Marketing and Sales

Gone are the days when some classic customer touch points like the company's efficient sales department, trade shows and magazines were more than enough for a B2B marketplace to approach the potential market. After the arrival of a digital era where access to endless digital channels full of information and solutions is piece of cake, the marketing game has completely changed. All your potential customers already have access to B2B solutions and information round the clock.

That's certainly a huge turn that the B2B market took and if any B2B company continues to embrace past without looking at the future of B2B marketing and sales is less likely to succeed. There is no point to sit back and hope that the puck will come to you, instead, keep an eye on where the puck is going!

What Experts Has to Say?

There's no better way to foresee marketing trends than considering experts opinion who lead the B2B industry.

Chief Producer of Radius - Mark Woollen, describes the shift in B2B Marketing as; 2017 onwards is going to be the time when companies will have a more smarter and holistic approach towards growth. It is recommended to make the most of comprehensive data that caters to smart marketing actions, as a result, marketers will be able to attract prospects in a more targeted manner.

B2B marketers are most likely to take inspiration from their B2C counterparts in order to grease the smartly targeted omni channel campaigns, he added.

The Projected key to B2B success as per Garter, As per Garter's prediction, by 2018 B2B websites will take a turn in terms of features and up to 40% of them will include algorithms associated with price optimization and use price, quote (CPC) tools to help prospects calculate, making product pricing available to them dynamically.

Foreseen potential of B2B World

For those having second thoughts on investments required to be spent on digital B2B e-commerce platforms here's what the future look like. Predictions by Forrester suggest that the worth of B2B e-commerce market will reach $1.1T by 2019; that is 2X the B2C e-Commerce market which will be worth $480B.

Source: http://www.ircecontent.com/assets/161/resources/Hoar_Sheldon1.pdf

Customers are Basically the Game Changers

All the foreseen changes are quite clear now but what led to this dramatic shift in the marketing world's landscape? The question was asked from senior executives belonging to vastly different industries - John Hayes, CMO of The American Express and a Yahoo! Research scientist, Duncan Watts.
Here's what the response concluded:

Expecting quick progress in this new era of customer engagement is something certainly not intuitive. Success is likely to come by listening to customers, working on effective engagement strategies and learning from errors and trials that come in way.

The New Secret Behind Increased Selling Speed, Scale & Simplicity

A recent forrester study reports that up to 75% of buyers are most likely to search for their entire or at least half of their work purchases online. In addition, 30% of buyers make instant decision and make online work purchase the same day whereas 56% decide to do so in 3 years. These stats clearly define the crucial buying behavior of B2B buyers that has changing the landscape of omni channel e-commerce.

Factors Defining The Future Of B2B E-Commerce

To successfully maintain a benchmark in B2B industry it's important to understand all the factors that will cater to success in near future of B2B e-Commerce.

  • Never forget that B2B buyers are most likely to engage with companies that excel in delivering best customer experience across all channels consistently.
  • e-Commerce technology is stacking up with a number of capabilities as the time is reviving and its resulting in increased Total cost of Ownership (TOC). This is making B2B companies consider a unified cloud platform like never before.
  • Every selling channel is growing in need for better price optimization along with Configure-Price-Quote flexibility.
  • The Ability to deliver a unique or specified buying experience that's respective to multi-tier distribution channels that mainly include dealers, partners, resellers, distributors and OEMs, is highly demanded to fit in the future of B2B e-Commerce.

All boils down to a conclusion,

Now it won't be wrong to say that digital channels are easily accessible to potential customers and these are loaded with information and solutions that has changed the game.

The target may remain same - successful B2B lead generation but the method to achieve that target is gradually shifting and marketers are approaching new tactics like going hand in hand with reviving e-Commerce technology by optimizing their B2B website, improving solutions, providing information and enhancing customer experience overall.

Today the most successful B2B marketers are the ones who have the strongest connection with the market, provide most relevant data and evolve with time. Companies who fail to adapt their marketing are most likely to be under risk in changing future.

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