The impact of digital on B2B business models
The far-reaching influence of digital sales channels has had a profound business impact, according to our 2016 B2B e-commerce research report “Taking the Fast Track into the Digital Future of B2B Commerce”. In fact, four in ten (40%) respondents surveyed confirm the pursuit of digital transformation has resulted in a complete change of their organization’s business model.
Perfecting digital sales, marketing and customer relationship initiatives that entice existing and new customers has seen end-to-end digitalization practices creep across the B2B enterprise. Companies report that 55% of their organization is now ‘digital’ and that automation practices incorporate both the supply chain (54%) and demand chain (52%).
Digitalization has certainly revolutionized sales operations for 99% of respondents’ organizations surveyed. Half (50%) report digital has made sales more cost-effective while 48% say the sales process is more efficient.
But these aren’t the only benefits being reported:
- 43% are successfully selling to customers that would not buy from them before
- Over one-third (36%) report they’ve been able to expand globally at lower risk
- 44% are generating more total sales - and more sales per representative
- 40% are leveraging digital B2B channels to persuade existing customers to purchase more items across more product categories.
Respondents report digitalization is resulting in more cross-linked processes within their organization and beyond, as supply chains are reinvented in order to respond more dynamically to customers and market opportunities. For some, this pursuit of a truly ‘synaptic commerce’ landscape is seen as key to adapting, thriving and surviving in today’s fast evolving and highly competitive digital era.
Read the full report to understand how some organizations are starting to reap the rewards from their IT investments.