According to research by Deloitte, 78% of B2B leaders indicate that their customers are seeking a more digitized sales process. This shift is partly driven by demographic changes, as millennials now make up the largest segment of the U.S. workforce. “Even in the manufacturing sector, customers expect to purchase generator sets with the same ease as retail products online,” said Creviston. “If they are dissatisfied with the experience, they will seek alternatives. Customer retention and loyalty are crucial elements in making the business case for digital transformation.”
Deloitte’s findings reveal that B2B customers are less likely to spend company funds if they encounter complicated manual processes, long wait times, or outdated systems. Additionally, surveyed companies estimate that negative experiences with sales processes account for an average of 13% of total sales lost.
In response to this challenge, the most successful B2B companies—referred to as front-runners in the research—have gained a competitive edge by implementing commerce solutions that streamline customer interactions and online purchases. Consequently, these front-runners are nearly twice as likely as their less effective peers to report improvements in customer satisfaction scores and 1.4 times more likely to experience increased customer trust.
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