Antti Merikoski
September 12 2023
1. Customer demand
Nowadays, customers expect everything to be online at all times, in all channels and devices. They’re continually being offered new and more convenient, entertaining, and easy-to-use digital services. This constant change and development has raised the expectations and demand for great digital services and channels to be offered even in a B2B context. This makes sense when you think about it – if you as a consumer are already offered the most convenient services and digital channels, why would you settle for less on the B2B side?
2. Growth
Digital business channels (like eCommerce) can be a clear growth opportunity for companies and organizations. This growth often comes because it’s easier to make orders. But growth also comes from the fact that companies can often start serving completely new customers from new segments or geographical areas through digital channels. Companies can start offering completely new business models like subscription models through digital channels as well.
3. Customer experience
eCommerce, digital services, or otherwise digitally supported sales processes usually can lead to better customer experience by offering something that traditional channels can’t. Self-service or digitally supported journies can be much faster and more convenient than traditional channels and digital can offer totally different and new ways of exploring the product and service. Finding information can be much easier and it can be presented and visualized in a way that customers prefer. Even if a company can’t offer similar personal service for all customers, it can still offer them a great customer experience through digital service channels.
4. Efficiency
Digital can make things much more efficient and can also enable scalability in ways traditional methods can’t match. Efficiency and scalability can be reached in multiple ways, for example by automating manual repetitive tasks, automating process steps, or simply by standardizing tasks or steps in the workflows. In many cases, such as by removing manual work, employees can switch to more valuable and productive tasks.
5. Competitive advantage
Digital transformation and investments in digital can create a lasting competitive advantage. Investments in digital transformation aren’t just system investments – they are investments in culture, new ways of working, new processes, and the overall customer experience. Harnessing the benefits of digital transformation takes time, effort, and maturity that aren’t built overnight. But through digital channels, you can serve your customers in ways that competitors can’t.
6. The power of data
One thing that shouldn’t be overlooked in digital transformation is data and the benefits it can bring when used properly. If a company wants to move to data-driven business development, it has to turn data into information, then knowledge, and finally wisdom. Using data as a value creator is one of the core investments companies can make in a digital transformation. Data is seen as a critical enabler, for example in creating successful customer experiences, and as a core element of the customer value proposition. When harnessed properly, data can even create new business opportunities. Through data analytics, companies can better understand their customers and business processes.
7. Direct contact with consumers
Having direct contact with consumers is a totally new opportunity for many companies, especially for manufacturing companies that have been operating in partner and dealer networks. The obvious question is to ask “What’s the benefit of direct contact with an end-user or consumer?” There are at least three benefits: it enables new business opportunities without a middleman, it increases understanding of the consumer or end-user through data, and it allows direct contact to boost brand and sales.
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