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Importance of Digital Transformation for B2B

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Discover our insights explaining the importance of digital transformation for B2B enterprises.

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Importance of Digital Transformation for B2B

  1. 1. DIGITIZING YOUR B2B STRUCTURE THE ESSENTIALS
  2. 2. Indubitable evidence suggests that the B2B buying process is slowly, but surely, transforming into an online process. The following presentation is meant to inform B2B marketers still left in the dark about the enabling effect of digital marketing strategies using actionable insights and suggestions as to how budgets should be spent. This summary is based on the effectiveness, relevance and ROI for B2B organizations of the suggested top digital trends. 2
  3. 3. Introduction Executive SUMMARY 1 3 Emerging Marketing Tactics 2 Importance of E-commerce / E-business platforms 3 Final Note Technology enables, it’s not a panacea4 5 7 8
  4. 4. I. Introduction 4
  5. 5. 5 B2B Industry Growth1 Online sales are not marginal anymore Forrester research, among others, points out that B2B E-commerce will account for more than 12% of all B2B sales by the year 2020. Substained growth is forecasted Put simply the B2B E-commerce industry will grow ca. 7 to 8% every year >> It’s time to jump onto the bandwagon! https://www.forrester.com/report/US+B2B+eCommerce+Forecast+2015+To+2020/-/E-RES115957
  6. 6. 6 B2B companies’ digital maturity is below par across all industry segments http://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/how-b2b-digital-leaders-driv e-five-times-more-revenue-growth-than-their-peers 2 DQ score is calculated on a scale of 0 to 100 as the average score of Culture, Strategy, Capabilities & Organization. AVERAGE B2B score
  7. 7. 7 Why the rapid growth?3 - Industry “push” > some customers can only be efficiently supported and found online. For instance, permitting buyers to make all their purchases online is evidently more cost-efficient and can aid growth. Ultimately this allows B2B digital leaders to turn in a stronger financial performance. - Preference of buyers to buy online. Even B2B? 56% of buyers already do!
  8. 8. 8 B2B digital leaders’ financial performance across all in industry segments http://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/how-b2b-digital-leaders-drive-five-times-more-revenue-growth-than-their-peers 4
  9. 9. 11 Continuous digitization5 Necessitates - The need to pay attention all the time and stay ahead of the game! - Adopt smart new digital marketing tactics! - Utilize transformative digital technologies to radically reinvent E-commerce platforms!
  10. 10. II. Emerging Digital Marketing 10
  11. 11. 11 Importance of Content Marketing for B2B Enterprises1A Content marketing is shaping up to become the most influential & significant digital tactic as ● The sales process is moving more and more online, as people ○ search for new products and services online ○ learn about new trends using blogs and search engines ○ make a first evaluation of a company according to the quality of their digital assets (website, whitepapers, customer experience, mobile,...)
  12. 12. 12 → The creation of relevant content is one of the biggest obstacles. The most common mistakes are a lack of strategic investment and the absence of a holistic method. Importance of Content Marketing for B2B Enterprises1B ● New digital technologies enables to nurture leads and convert them overtime into customers using qualitative content (I.e. Hubspot, Selligent)
  13. 13. 13 Search Engine Optimization (SEO) for B2B Enterprises2 Using SEO to be found is still is as important, BUT the methods used to analyze and achieve top rankings have changed considerably; ● SEO has become less technical but more a question of content. Meta code and the creation of backlinks is not enough anymore. Therefore, has become qualitative blogging essential for B2B. Note : Outsourcing to cheaper overseas enterprises is an option but might generate more work in the longterm as content still needs to be checked and edited. >> Don’t do this properly and you will virtually disappear from Google Search results.
  14. 14. 14 CRM & Marketing Automation for B2B Enterprises3 It is believed that marketing automation is most likely to deliver quantifiable ROI for B2B organizations in the future. Marketing automation software is a huge investment, especially for small enterprises, making measurable ROI a critical necessity. Current technologies allow companies to do just that as they are able to track digital investments back to the leads they generate and more. It used to be only available to large corporate conglomerates as they were able to cover the costs but nowadays it is affordable to businesses of almost any size.
  15. 15. 15 Notable takeaways4 - Email is here to stay. One simply cannot overlook it’s importance ahead of content marketing, SEO as well as lead nurturing. - Marketing automation is costly but can best articulate ROI. - Video might still be seen as inferior to whitepapers and webinars but it is the rising of the moment. - Lead nurturing is central to any marketing automation software and is predicted to become another important digital marketing tactic.
  16. 16. III. Importance of E-commerce / E-business 16
  17. 17. 17 Primary Reflections1 The B2B buyer journey is more complex as it is more layered than B2C consumer journeys. As we’ve discussed earlier this requires more advanced, read digitized, CRM. Several principles can logically be adopted from B2C platforms such as; - Intuitive navigation - Filtering by multiple attributes - HQ visualizations - Product bundling - Responsive design - Easy searching - ... → However, B2B E-commerce requires a powerful feature-heavy platform. DO MORE WITH LESS
  18. 18. 18 Key Features2 Running a succesful B2B E-commerce platform requires know-how and expertise. Moving your customers online can and will unlock a huge number of opportunities with huge potential; - Allows the capture of transparent user identities, simplifies onboarding processes and makes the customer experience more customized and therefore more personal. - Optimized lead generation and increased customer acquisition through proven visual merchandising and marketing tactics already adopted in the B2C sphere. - Implements a flawless cross-channel browsing experience, including mobile. → Respecting the essentiality of these features is highly likely to lead to an increase in customer loyalty!
  19. 19. IV. Technology enables, it’s not a panacea ! 19
  20. 20. 20 Final Note Industry leaders have already revolutionized their B2B business through an adoption of the new digital technologies. B2B oriented enterprises should best take both content marketing, E-commerce and marketing automation seriously. The learning curve is steep but never unsurmountable. As internal and external best practices have been optimized to such an extent, businesses are only able to differentiate through image. This image is supported by the creation of relevant content. This dynamic is the same for B2B ventures and can be reinforced using marketing automation and advanced CRM to adequately link marketing with sales departments. Technology is valuable. It speeds things up, brings efficiency to repetitive tasks and illuminates patterns too hard to spot with the naked eye. Digitization should be embraced. But first ask – What is the question I’m trying to answer?
  21. 21. WE BELIEVE LIFE SHOULD BE MADE OF GREAT DIGITAL EXPERIENCES Lorenzo del Marmol Co-Founder & Manager ldm@worldofdigits.com +32 477 720 430 Contact us for more information Written by: Maxime Van der Aa Digital Project Manager

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