B2B customers now have greater expectations from suppliers for growth
Updated: Apr 25, 2022
Just as consumers want a personalized, always on, seamless Omnichannel experience, the same is increasingly true for B2B customers. The pandemic has led to increased digital and remote interactions to manage business and B2B customers have reset to higher expectations on the right mix of engagement from suppliers, which is now across 10+ channels (vs 5 in 2016)!
B2B suppliers have opportunities to grow share through stronger multi-channel engagement and personalization.
McKinsey research (Feb'22 report) identifies key opportunities:
◊ “Omnichannel is a path to share growth. The more channels a sales organization deploys, the bigger the market share gains.
◊ There are no exceptions. All B2B customers prefer omnichannel, no matter their industry, country, size, or customer relationship stage.
◊ B2B loyalty is up for grabs. Customers are more willing than ever to switch suppliers to gain exceptional omnichannel experiences.
◊ Make your numbers. The new bar for omnichannel excellence is ten or more channels over three engagement modes (in-person, remote, and self-service), delivered 24/7.
◊ Master the five “must dos.” Customers are resoundingly clear on the five capabilities they most want from omnichannel—and they want all of them, from performance guarantees to real-time customer service."
"B2B decision makers are omnichannel customers in both a macro and micro sense. They use multiple channels across the purchasing journey and within every buying stage of that journey. And while some buyers will gravitate toward one-on-one interactions for complex and high-value deals, many are comfortable using digital self-serve for major purchases.”
To think about:
How many channels is your B2B company currently using to engage your customers? How personalized are they? To win in the new normal, both need to be raised.
McKinsey article: The new B2B growth equation Feb 2022