Panel: The acceleration of B2B Digital Buying and B2B eCommerce
According to a recent McKinsey & Company survey of 3,600 B2B decision makers, the pandemic has seen a huge shift in preferences of B2B buyers to digital channels away from traditional interactions.
At the same time, Forrester reported the increased demand for B2B self-service and eCommerce options were compounding at almost 10% per annum and at the same time purchases through sales reps had declined at a similar percentage.
But even before the pandemic, new ways of digital buying and B2B eCommerce were emerging as ways of respond to shifting buyer behaviour and reducing the cost of sale. The pandemic has exponentially accelerated these trends.
In addition, economic uncertainty, slow growth and ensuring cost reduction, we’re faced with buyers that are either not buying at all, only buying necessity / operations critical or re-negotiating existing contract and terms. Pipelines are stalling and deals are not closing.
Even so, sales leaders are still held accountable as if business as usual during the pandemic, putting even harder pressure on an already head-count heavy sales force to deliver revenue and growth.
During this session we’ll discuss the unprecedented shift in buyer behaviour from the acceleration of B2B eCommerce to large complex sales requiring face-to-face interaction.