The evolution of the traditional business-to-business (B2B) sales model has gained momentum with the adoption of digital technology solutions and the proliferation of eCommerce. The sales techniques that relied upon cold calls, generic email blasts, and physical sales presentations are disappearing. Lone wolf sales professionals are extinct.
Consumerized processes in our personal lives are driving expectations in our business lives. Digital interactions and messaging are now a part of campaigns that borrow tactics from the business-to-consumer (B2C) playbook. Our customers expect the same efficiency, practicality, autonomy, and personalization they experience in their private shopping to extend to their business interactions. There’s an instant, always-on expectation from those we do business with. The manufacturing sales process is no different.
Digitalization of sales should be changing how a manufacturer’s customers access product information, materials, specs, pricing, and availability. Organizations should be moving from siloed sales teams and individuals who have been previously known as lone wolfs. These creatures should be extinct.
Hands-on data leads the day. Access to relatable, searchable, and easy-to-consume information is paramount to managing quotes, delivery, and availability of goods and services. Antiquated “flip book” charts and sales diagrams don’t help you customize quotes, delivering penny-precise proposals required to compete in an Amazon-ready world.
Our customers have been groomed in their personal lives with expectations they want to see in their business lives. For those working in manufacturing, we owe it to them to be ready.
Meeting the expectations of today’s B2B buyers
Easy, fast, and efficient are the prerequisites for today’s business customer, who no longer wants to deal with lengthy, manual, or friction-filled purchasing processes. Instead, quick and customized experiences and quotes are the name of the game.
B2B buyers want and expect:
- Personalized experiences via omnichannel options with easy access to product information and availability
- Automated and customizable 24/7 self-service instead of waiting for a sales representative
- Access to all information in one place with interactions in real-time for accurate product selection and pricing
In light of complexities exacerbated by the pandemic and supply chain disruptions, customers in the manufacturing sector, in particular, need expediency and accuracy for their business interactions. As a result, these organizations can better meet rapidly evolving consumer and marketplace needs with incredible efficiency, speed, and customization by digitizing sales efforts.
Digital technologies are changing the B2B sales process
Quote management and CPQ (configure, price, quote) solutions are the primary tools for driving sales efficiency and moving manual sales decks to intuitive dashboards that provide one unified place of knowledge for all product information. By digitizing the sales funnel, manufacturers can enable transparency into every area of the process, including product specifics and parts availability, pricing, and shipping. Ultimately, digital platforms simplify collaboration and expedient purchasing transactions for parties across the globe.
The power gained from eliminating manual and PDF-style product catalogs is that internal sales teams, customers, and dealers can seamlessly interact in real-time with their buyers to build customized and accurate quotes within minutes. Likewise, automation of these processes allows manufacturers to quickly collate all needed data related to products, parts, pricing, shipping, and customer data required to prepare a personalized and penny-precise quote.
Within a few minutes and a few clicks, customer-specific preferences can be factored in, costs calculated, and quotes delivered for a personalized experience business customers have come to expect in their personal lives.
CPQ and CRM digital platforms benefit both B2B sales teams and customers
Sales teams, customers, and management alike reap the benefits of efficiencies achieved through the automation and intuitive capabilities of digital sales platform technologies and CPQ software. Here’s how:
Benefits to sales
- Fast processing of RFQs (request for quote) leads to higher conversion rates
- Minimum quote preparation times and streamlined approvals
- Accurate inventory, pricing, shipping data with rapid configuration to deliver the right offer at the right time
- Data is consistent and fresh across all channels to support robust omnichannel marketing messages
- More time to focus on new leads and access to reports on buyer’s product preferences
Benefits to buyers
- Easy access to product information for quick comparisons of pricing, options, and configurations
- Minimum wait times for quotes for greater customer experience and satisfaction
- Clear visibility into all factors – products, total price breakdown, shipping schedule, discounts, and loyalty rewards applied for a customized quote
- Provides a 24/7 interactive all-inclusive site for a seamless purchasing experience
Customer experience is driving B2B consumerization
B2B commerce recognizes that, like its B2C counterpart, this “always-on” economy is all about a customer-centric paradigm fueled by the desire for ease and instant gratification. As a result, B2B sales models must shift towards more visual, easy-to-use, and interactive eCommerce tools to deliver the customized, fast and accurate quotes and services that today’s business customers demand.
Particularly for those in the manufacturing sector, cost, time, and accuracy are crucial factors that influence sustainability, the bottom line, and provide a digitized consumerized buying experience.
Authored By Dominic Starr