Enterprise B2B Imitates B2C

 
 
By Karen A. Frenkel  |  Posted 12-23-2013 Email Print this article Print
 
 
 
 
 
 
 
 
 
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    Enterprise Buyers are Mimicking Consumer Shoppers
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    Enterprise Buyers are Mimicking Consumer Shoppers

    61% of B2B buyers report third-party sites and feedback from business partners, peers and social channels as more important than conversations with their sales teams when deciding on a purchase.
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    Technology Is the Cause and Cure
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    Technology Is the Cause and Cure

    45% of respondents say IT plays a greater role in customer experience than previously.
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    Will Technology Replace Salespeople?
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    Will Technology Replace Salespeople?

    83% of businesses say IT, marketing and manufacturing play larger roles in managing customer experiences than they did three years ago.
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    Processes and Technology Investments' Roles are Changing
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    Processes and Technology Investments' Roles are Changing

    80% of companies have changed at least one business process involved in customer interactions in the past three years.
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    Top Three Changed Business Processes
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    Top Three Changed Business Processes

    44% increased their investments in customer sales and tech support, 40% increased the number of employees interacting with customers, 32% increased automation in the sales process
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    Customer Experience Is Worth Increased Cost.
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    Customer Experience Is Worth Increased Cost.

    Customers are willing to pay up to 30% more for a superior purchasing experience. 56% of those surveyed report paying more during the last six months because the customer experience was better, and they had less expensive options.
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    Improved Customer Experience Pays Off
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    Improved Customer Experience Pays Off

    60% of companies that have built new processes to accommodate shifts in customer interactions have increased revenue., 60% report a larger customer base., 61% report increased customer loyalty.
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    Feedback From Peers
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    Feedback From Peers

    89% of buyers consult a business partner, social networks, or talk with peers who have already bought the product or service they are considering.
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    Enterprise Buyers Give Feedback Publicly
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    Enterprise Buyers Give Feedback Publicly

    40% of buyers reviewed a company on a third-party Website. 32% posted a review on social media, like Facebook or LinkedIn. 19% tweeted about their experience.
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    Over Half are Investing in Mobile, Social Media and Apps
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    Over Half are Investing in Mobile, Social Media and Apps

    55% are investing in mobile devices, 54% are investing in social media, 53% are investing in mobile apps
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    More Companies Plan to Improve Customer Interaction
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    More Companies Plan to Improve Customer Interaction

    83% of respondents say they will invest in technology to improve customer experience.
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    C-Level Executives Perceive Customer Interaction Positively
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    C-Level Executives Perceive Customer Interaction Positively

    77% of business unit leaders and 66% of IT decision-makers believe their customer experience is better than the competition's.
 

Few companies can shop online when they need business supplies the way consumers can. Enterprises can't buy stock directly from a company's sales staff, or participate in auctions for refurbished material. There is no network of peer customers to comment on parts, nor are there video reviews of equipment, links to expert advice on social media, nor installation and maintenance services. In short, B2B has not yet caught up to B2C, according to a report by Seattle-based Avanade, which provides business technology solutions and managed services for Microsoft technologies. Avanade commissioned Wakefield Research to study 1,000 C-level executives, business unit leaders and IT decision-makers at top companies worldwide. Industries surveyed include aerospace, defense, telecommunications, energy, health-care, financial services, government, non-profit, media, entertainment, logistics and manufacturing. The survey found that buyers are becoming more demanding, so sellers must be more flexible. Those that are report longer-term and more profitable customer relationships. Click here for the full report, "Global Survey: B2B is the New B2C." .

 
 
 
 
 
Karen A. Frenkel writes about technology and innovation and lives in New York City.

 
 
 
 
 
 

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