5 B2B Digital Innovations
Disruptive digital innovators provide new technology, products, and services–all marking significant potential for change in nearly any industry, as well as more specific B2B departments like sales, marketing, and billing.
“Technology is taking on an even more central role in the sales process, and chief sales officers (CSOs) need to get ahead of a series of innovations that will significantly disrupt sales strategy, engagement, pricing, and enablement.” - Gartner
In the business and technology realm, ‘disruptive’ has become a term connected with digital innovation and progress, rather than something negative that must be stopped. Disruption in terms of the digital transformation seems to be unstoppable whether we like it or not, and for most companies this type of fluid change is extremely positive.
Disruptive digital innovators provide new technology, products, and services–all marking significant potential for change in nearly any industry, as well as more specific B2B departments like sales, marketing, and billing. With the ability to transform the digital paradigm B2B companies have previously been accustomed to, disruptive innovators are behind a continually growing list of new consumer trends.
Some great examples of relatively recent disruptors include online sellers like Amazon and streaming/subscription companies like Netflix. It can be hard to discern whether new business models prompt novel, disruptive technology solutions, or the other way around, but the following cannot be ignored for B2B companies:
Companies like Netflix and Amazon are also using artificial intelligence and machine learning to streamline a range of systems and processes, both to understand consumer preferences better and improve their experience overall.
“By 2025, 80% of B2B sales interactions between suppliers and buyers will occur in digital channels, which means sales organizations need to actively look for new ways to engage with customers,” relays Gartner.
“AR and VR will likewise emerge as a key sales mechanism, and the advent of machine customers is expected to create an entirely new target market for sales organizations.”
“IT leaders responsible for cloud strategy must understand their organization’s business strategy first, and then seek opportunities to leverage new and emerging cloud capabilities to accelerate that strategy,” states Gartner.
This type of building block system is also centered around packaged business capabilities (PBCs), which are software features that act like micro- or macro-services for eCommerce elements like shopping, cart, and checkout.
“Digital twins in oil and gas are emerging as the hub of next-generation digital asset operations. CIOs should develop modular architectures, integration skills and governance processes to make composite digital twins viable as enablers of business value,” states Gartner Research.
Digital humans can interact with customers, and represent a company brand. In connection with concepts like the metaverse, their impact on the future and in B2B transactions is expected to be extremely lucrative and give early implementers a competitive advantage.
It can be difficult to move past investments in technology or business overall that may not be working out as expected, or legacy platforms that have become outdated and are weighing down important avenues to revenue growth like eCommerce. The challenges of digital transformation initiatives can be daunting in terms of making the jump to change technological processes, workflow, and learn new tasks. But the rewards involve improved speed in product development and sales, improved customer experience, and growth in business and revenue.
The process is much more effective, however, when the whole organization is on board–from the CEO to everyone involved. There must also be a commitment to embracing new digital innovations to stay in line with industry standards and security, whether in developing products or managing data.
Digital revenue is hiding in your business: in your eCommerce channel, in your CPQ and subscription management tools. You can uncover it in launching new digital channels, automating and digitizing your existing solutions.
In today’s competitive and ever-evolving market, sales leaders need to position their teams to sell customized solutions. The fastest, most accurate, and most effective way to do this is by leveraging data through technology.
As aftermarket parts and accessories in the automotive industry continue to accelerate in sales for components related to cars, light trucks, and powersports, companies like General Motors are jumping on board.
Object Edge, a digital consultancy, expands its offerings to include data management services. This new practice will be led by Vinny Maurici, who brings 15+ years of master data, merchandising, and governance experience.
For the B2B business model, omnichannel represents any type of commerce possible, whether in person or on a variety of different online platforms, with a growing list of options proving to be infinite.