Buyers’ expectations in today’s digital-first world are constantly shifting, necessitating businesses to innovate to stay abreast of customers.
Digital mindsets allow teams to identify opportunities and technologies that would otherwise be hard to identify manually, while key account management teams can use digital tools and strategies to provide their customers with a more tailored experience.
1. Buyers’ expectations are changing
Today’s consumers expect an experience that is as seamless and convenient as possible when purchasing products and services; they expect sales teams to take an approachable and personal approach when selling. A successful digital-first business understands this shift and adapts their processes accordingly – including adopting new technologies to deliver an optimal customer journey.
Digital-first businesses are focused on optimizing customer experiences at every point in the process, from design and development through delivery and service. They utilize new technologies to automate processes, increase customer engagement, and boost productivity; in addition to prioritizing employee experiences by making it simple for employees to work remotely; this enables them to deliver products and services efficiently while still upholding high levels of quality.
Companies need a digital mindset in order to remain competitive and expand their business. Adopting new technologies, testing innovative strategies, and constantly being aware of potential new opportunities are all part of being digital. Adopting such an attitude allows companies to respond faster to shifting market conditions and customer demands by using data- and AI-powered tools for Key Account Management or sales enablement processes.
2. Buyers are spending more time online
Buyers are spending more time online than ever, discovering, searching, buying and returning products online. This has caused manufacturers to change how they sell; buyers now expect a seamless digital experience with plenty of choices at low prices delivered quickly via multiple channels with data-driven insights delivered as personalized content from sales reps. A recent survey discovered that manufacturing partners that implement sales enablement platforms are 2.1x more likely to experience double-digit revenue growth.
GWI’s 2023 Shopper Experience Index revealed that online shoppers prefer hassle-free shopping experiences over in-store shopping for many reasons. These include crowd avoidance, researching products prior to purchasing them and convenient services (direct home delivery/avoiding in-store lines/checking inventory etc). Over half of buyers also say customer reviews or social posts make them more likely to convert.
The COVID-19 pandemic has made online shopping even more accustomed for consumers, setting even higher expectations of ease and speed for buyers as well as domestic suppliers due to rising prices at major seaports, transportation fees, and fuel costs. Furthermore, more than seven out of ten retailers offer reverse logistics allowing customers to return purchases purchased online to physical retail locations.
3. Buyers are becoming more sophisticated
At the second stage of market sophistication, buyers have heard many of your organization’s claims regarding products and services. At this stage, it is time to begin marketing more than just “what,” such as showing how accounting software saves businesses “x amount of time,” or how a new washing machine reduces water use while providing quality clean.
Sales teams must be equipped to deliver this level of personalization and insight to their key accounts in order to remain competitive. In order to do so, they need access to appropriate content, data analytics and AI-powered tools that allow them to do this successfully.
Adopting digital tools and strategies allows sales teams to increase the efficiency of their workflows while automating tedious tasks, freeing them up for more important activities such as relationship-building and strategic planning with key accounts, which ultimately leads to improved customer satisfaction and revenue growth.
Digital mindsets also help sales teams to be more responsive and adaptable when responding to changing market conditions and customer demands. By employing AI-powered tools and data analytics, sales teams can identify opportunities quickly that would otherwise be hard or impossible to spot manually – keeping ahead of competitors while expanding revenue growth and market share while providing their key accounts with an exceptional experience that aligns with their business goals and objectives.
4. Buyers want more.
Decisions related to purchasing aren’t solely rational or fact-based, they’re also emotional and trust-based. While consumers have access to plenty of information, their gut instinct and intuition often take precedence in making purchases. Therefore, any effective sales strategy must take a comprehensive approach that considers both cognitive and emotional challenges of potential buyers.
Giving buyers the power to make decisions independently without being coerced by sales pitches is key. You should provide impartial information that’s easily accessible so buyers can find answers they need quickly; branching logic selection features or AI functionality may not even be required–so long as information is readily available, buyers will feel empowered enough to educate themselves independently.
Have the right technology at hand is key to creating a successful B2B selling strategy. A reliable, automated software solution enables sales teams to streamline processes while focusing more on high-value activities like building relationships with key accounts and identifying new opportunities. A modern buyer experience platform also serves as a consistent digital touchpoint across customer journeys while driving unified data strategies which fulfill current needs as well as future growth objectives; digital thinking should therefore form the basis of executive decisions and business goals.
