May 12, 2020

Revising Your B2B Strategy in the Post-COVID-19 Era

Mary Sawyer Planning, Strategy, Trending Now, Trends
Mary Sawyer Vice President of Public Relations

The world has been turned upside down by the COVID-19 crisis, and every industry had to adapt to new circumstances to survive. What does that mean for the future of your business? Digital sales will undoubtedly play an increasingly bigger role in your marketing success.

McKinsey and Company, the global management consulting firm, is reporting major changes in the way that B2B buyers and sellers interact as a result of the crisis, and savvy companies are changing their go-to-market strategies to adjust to these changes.

McKinsey believes that we are at a digital inflection point, where B2B sales operations going forward will look fundamentally different from what they were before the pandemic.

They reached this conclusion based on voluminous findings from a survey conducted across 11 countries in seven sectors and 14 categories to better understand the impact of the crisis on customers and sellers.

One very relevant finding….looking forward, B2B companies anticipate digital interactions to be two to three times more important to their customers than traditional sales interactions. During the crisis, digital sales played a crucial role and increased dramatically as in-person and field team sales dramatically declined. McKinsey reports that these B2B model changes are very likely to be significant and long-lasting.

McKinsey found that buyers are now expecting a B2B purchasing process at least as convenient and robust as those that they experience in their personal digital shopping experiences.

B2B companies should address customers’ most pressing frustrations such as length of the ordering process, difficulty in finding products, technical glitches with ordering, confusing websites, a lack of information on delivery and technical support and difficulty setting up payments.

Other studies are backing up McKinsey’s findings that B2B buyers desire self-service functionality and better e-commerce experiences. As marketers navigate possible budget cuts and revise their plans for future go-to-market initiatives, they would be wise to address these issues. Luckily, we have a deep understanding of the user experience and consumers’ expectations and demands for their digital interactions with their brand. Get in touch with us to explore how we can transform your B2B brand’s online presence.