The year 2020 will be known as “the great reset,” according to the World Economic Forum. When COVID-19 hit and the world went on lockdown, technology became essential as businesses had to quickly pivot to stable online selling, not letting legacy ideas get in the way. Many of them weren’t ready for it.
A recent McKinsey & Company study of 3,600 B2B decision makers in 11 countries confirmed that B2B customer preference has shifted entirely from traditional to digital, and that companies that provide an outstanding digital experience now have twice the likelihood of being chosen as primary supplier.
The pivot to online sales enablement affected everything in the B2B world, from conferences turning to virtual formats, to social media becoming a primary networking tool. The pandemic also accelerated omnichannel selling, tech-enabled selling and eCommerce in a major way, according to the study; and 79% of B2B companies said they’re likely to sustain these shifts for 12 or more months.
For some brands, online sales enablement isn’t new. But for others, there is a degree of urgency that forces them to not just do the digital thing, but to do it in a foundational and strategic way that will enable long-term success.
So how do you know if your brand is a digital leader, or if you’re already behind the curve?
Today’s B2B digital leaders have not just a clear and compelling brand story and value proposition to communicate. They also have the right infrastructure in place, meaning the people that drive and leverage digital across every level of an organization.
They stand out because they know what their customers need at every stage, and can respond with the right message at each touchpoint in the journey—from awareness through consideration, to conversion and maintaining loyalty.
When we work with clients to understand their digital readiness and build smart digital strategies, we start by auditing their business across two axes:
1. Digital infrastructure
Do you have the right people, processes and tools in place to make the most of digital? Are your teams collaborative and able to work in an agile way to take advantage of new and changing opportunities?
This is all about setting the right foundations to be able to deploy new digital strategies and tactics quickly and effectively, and critically to be able to capture and analyze data to understand what’s working and what isn’t.
2. Value proposition and business strategy
Have you clearly defined your brand’s unique value proposition - what differentiates you from your peers and makes you valuable to your audiences?
It’s more than simply being able to tell your story in a clear and compelling way, it’s about understanding what matters most to your different target audiences at each stage of their customer journey––and then matching your messages accordingly.
Plotting where things stand in these two core areas allows us to place a business into one of four quadrants.
Where a company is placed allows us to see what recommendations and tactics should be prioritized. Of course, every situation is unique - so while specific answers give us even greater insight into the areas of focus we recommend, we are always on hand to help clients build tailored digital strategies and set the roadmap for success when it comes to becoming a digital leader!
Find out where you stand. Take our digital readiness assessment today by clicking here.