As businesses grapple with budget and headcount constraints, B2B buyers are turning to digital technology to increase efficiency and maximize their resources. According to a survey of 150 B2B buyers conducted by Hero Digital, 100% of respondents said it is important to prioritize digital transformation moving forward. The top two factors driving this belief are reduced budget (45%) and reduced headcount (41%).
As businesses grapple with budget and headcount constraints, B2B buyers are turning to digital technology to increase efficiency and maximize their resources. According to a survey of 150 B2B buyers conducted by Hero Digital, 100% of respondents said it is important to prioritize digital transformation moving forward. The top two factors driving this belief are reduced budget (45%) and reduced headcount (41%).
“Business leaders must find ways to reduce friction across their ecommerce solutions and digital experiences as B2B buyers seek greater efficiencies capable of enabling faster innovation and growth,” the report said. “When supplier relationships fall short, buyers aren’t afraid to take matters into their own hands — with many companies already pursuing internal improvements as a mechanism to increase efficiency and bolster digital experiences and offerings.”
The survey also found that the majority of B2B buyers (60%) use a combination of digital platforms they’ve purchased and built in-house. Additionally, 90% of B2B buyers’ organizations plan to leverage AI as part of their digital strategy in some way over the next 12 months —primarily to forecast sales and provide a better customer experience.
When it comes to researching purchases for their business, B2B buyers reported the top challenges they face include understanding product specifications/configurations, inconsistent product or service information across channels, understanding how products would fit their business, finding product or service information that is up to date, and understanding pricing.
“The survey results demonstrate the need for B2B organizations to prioritize digital transformation and leverage technology to increase efficiency,” said Mark Brohan, senior vice president of B2B and Market Research at Digital Commerce 360. “Businesses must continue to invest in digital solutions to ensure they are able to meet customer demands and remain competitive in the market.”
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Sources: https://www.digitalcommerce360.com/2023/10/17/b2b-buyers-count-on-more-digital-bang-for-buck/
