The rush to digital platforms presents a huge challenge for B2B sales teams. Having insight into the right data – across all channels – will be key to their success
The events of the past 18 months have accelerated many organisations’ digital transformations by months or, in some cases, years. In particular, we saw a surge of investment in digital sales channels with in-person meetings and physical purchases no longer an option.
This has been reflected in a wave of online purchasing – both by consumers and in business to business (B2B) transactions. Indeed, B2B online shopping increased by almost a quarter last year, with 46% of purchases now made online. Additionally, more than three quarters of B2B buyers say they now prefer purchasing online and remote interactions with sales reps. Only about 20% of B2B buyers say they hope to return to in-person sales post-pandemic.
This has resulted in organisations making their purchases through more channels than ever before. As an example, online B2B marketplaces gained huge traction during the pandemic. Having already predicted that 17% of the $13tn in B2B spend would flow to marketplaces by 2023, analyst Forrester is now saying that we will hit that much sooner — perhaps this year.
Importantly, these purchases are not restricted to smaller-ticket items. Seventy percent of B2B decision makers say they are open to making new, fully self-serve or remote purchases in excess of $50,000, and 27% would spend more than $500,000.
The challenge of siloed data
Changing purchasing behaviour
Digital technologies shaping the future
Want to learn more about the PROS Platform and the B2B path to digital selling? Visit pros.com