COVID-19 impacted almost everything we routinely interact with. Although deemed essential, the fastener industry was not immune to those changes. Customer behaviors and preferences shifted rapidly, and buyer expectations were now demands that many companies struggled to answer.
The pandemic caused massive adoption of digital technologies in eCommerce, sales and marketing automation, and other business processes. The cancellation of trade shows forced companies to quickly adapt sales and communication processes to a digital platform or jeopardize their revenues.
B2B buyers expect no less than what they experience in a B2C environment, offering the same speed and ease along the buying journey. They want transparency and convenience throughout the buying experience and will quickly move on if their needs are not met.
A recent McKinsey report found that 70-80% of B2B decision makers preferred digital and remote interactions with sales reps. In addition, the company would save on travel time and associated costs. 90% of B2B buyers expect the new business models to remain in place and most find it more effective. What started out as a necessary solution is quickly being adopted as the new normal; “Once you let the cat out of the bag there’s no getting it back in”.
B2B sales are growing double digits every month, increasing yearly by 70+%. You know you want some of this!
- Allow your customers the option to buy from your company on their own time, using the platform of their choice.
- Drive consistent interaction with a customer focused website that is a thoughtful self-service experience.
- Listen to the conversation by engaging with your customers on social platforms.
COVID accelerated shifting buyer preferences and disrupted traditional buying processes magnifying the need for businesses to develop and implement a digital strategy or get left behind.
Learn from our NEW Fastener Industry | The Digital Landscape 2021 report, how your company fares against the industry averages for B2B companies that are making strategic investments to grow their online presence.
Get in touch with one of our digital experts to discuss expanding your digital presence to meet and exceed the needs of your clients.
About the writer:
Cris A. Young | CEO | Product Genius Technology
Cris holds two technology patents for an eCommerce experience technology. She has more than 30 years of industrial supply experience including logistics, sales, marketing, and digital strategy in both public and private organizations. Cris’ longtime industrial supply experience allows an inside view of distributors’ and manufacturers’ challenges and needs when developing a digital strategy. Cris has spoken at several Fastener Expo’s and B2B ecommerce events.
Distribution, Fasteners, Reports, digital