There are several trends that facilitate the B2B digital transformation and create new dynamics in an evolving market. Find out the best of those trends here.
Like in any other project, the desire to execute digital transformation (DT) isn’t enough. You must acquire and successfully deploy the right technology to be successful. Moreover, management and maintenance skills are also a must.
However, there is a skills shortage in the IT sector. As result, B2B companies began exploring external possibilities. This has put a deeper emphasis on cloud-based solutions, managed services, and automation.
Artificial intelligence (AI) continues to be increasingly important. Yet, many organizations still view it as a conceptual technology that may be of interest for years to come. They are still waiting for viable use cases from AI implementation at other companies. Until that time comes, their IT spending will focus on other areas.
Automation is another popular yet necessary technology in the B2B digital transformation. Many companies have already begun implementing robotic process automation (RPA) projects. RPA is popular in almost any industry due to the many benefits it brings.
It’s crucial to start small with AI instead of viewing it as a magnificent concept. Starting small builds the confidence and momentum needed for changes. Moreover, B2B companies often achieve faster results in doing so. Concentrate on areas with existing capabilities. Furthermore, clearly define your objectives and acquire executive buy-in to yield quick wins.
Consumers don’t recognize B2B companies as much. Content and the creation of brand narratives may strengthen your digital presence while fostering brand recognition. Moreover, it may widen your audience reach and create more brand loyalty. Furthermore, publishing great content establishes your company as a thought leader and expert in the field.
Leverage this trend by implementing a clear content program. It must define all the necessary aspects that customers will need to make purchasing decisions. This move will result in revenue.
Data analysis is essential in B2B digital transformation and in understanding your customers better. It will enable you to make better decisions like where to make investments in people and technology. Many companies believe that the more data they have, the easier it is to extract actionable insights.
While that may be somewhat true, going overboard on collecting data won’t bring anything good to your company. This means you need to extract value from the volumes of data you collect. Otherwise, you’ll turn into a “data-rich, intelligence poor” company.
The objectives and the resources to implement data analytics must be clear. Furthermore, user and stakeholder requirements (e.g. people that will handle and analyze the reports) will influence the selection of software and services.
The most important goal of DT is to make customer service better, faster, and modern. This includes finding where your customers are and giving them a personalized experience.
The number of marketplaces is rapidly growing. Thus, it is crucial to maintain the integrity of your products that are being sold by third parties. This means you need to implement continuous monitoring, oversight, and diligence.