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Forrester: Andy Hoar

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Today’s B2B buyers’ expectations are rapidly evolving. Buyers are now looking for an engaging, seamless and consistent experience across all of their experiences with an enterprise, regardless of the stage of the buying journey. But, B2B sellers still struggle to meet these expectations, often focusing on isolated touch points with disconnected technology investments that inhibit the ability to understand and consistently engage with their customers from initial acquisition through advocacy.

Forrester’s Andy Hoar will present the industry’s first look at just-completed research on B2B buyer expectations for digital engagement - and the gap between these expectations and what B2B Sellers can offer. Learn what customers expect across each touch point, what is most vital to them today, and their top concerns for the future. Gain insights to help you meet both current and emerging B2B customer expectations.

Published in: Data & Analytics
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Forrester: Andy Hoar

  1. 1. Mastering Omnichannel B2B Customer Engagement Andy Hoar, Principal Analyst Gameplan Conference -- Dallas October 22, 2015
  2. 2. © 2015 Forrester Research, Inc. Reproduction Prohibited 2 Agenda › Description of the research › Highlights and findings › Key takeaways and recommendations
  3. 3. © 2015 Forrester Research, Inc. Reproduction Prohibited 3 New Research
  4. 4. © 2015 Forrester Research, Inc. Reproduction Prohibited 4 Large scale B2B survey (Numbers may not total 100% due to rounding) Base: 1,307 business decision-makers with more than 1,000 employees (500+ in Europe) in North America, Europe, LATAM and APAC Source: A commissioned study conducted by Forrester Consulting on behalf of hybris and Accenture, September, 2015
  5. 5. © 2015 Forrester Research, Inc. Reproduction Prohibited 5 Key Findings › Business buyers are increasingly adopting digital touchpoints. › B2B buyers have high expectations for personalization and exceptional service across the buyer journey › B2B sellers are not prepared to deliver a seamless omnichannel experience. › World-class customer engagement requires the right omnichannel strategy, partner ecosystem, and technology infrastructure.
  6. 6. © 2014 Forrester Research, Inc. Reproduction Prohibited 6 Source: March 28, 2013, “The New Physics Of Lead-To-Revenue Management” Forrester report Increasingly complex buyer journey
  7. 7. © 2015 Forrester Research, Inc. Reproduction Prohibited 7 Rising expectations
  8. 8. © 2015 Forrester Research, Inc. Reproduction Prohibited 8 98%Research purchases online before buying offline Base: 750 business decision-makers with more than 1,000 employees (500+ in Europe) in North America, Europe, LATAM and APAC Source: A commissioned study conducted by Forrester Consulting on behalf of hybris and Accenture, September, 2015
  9. 9. © 2015 Forrester Research, Inc. Reproduction Prohibited 9 Buyers increasingly researching online “Of those work-related purchases made OFFLINE, what percentage are typically researched ONLINE as part of the process?” 22% 24% 29% 18% 7% 1% 21% 21% 24% 19% 12% 2% 75% or more 50-74% 25-49% 11-24% 1-10% 0 2015 2014* Base: 696 business decision-makers with more than 1,000 employees (500+ in Europe) in North America and Europe *Base: 930 business decision-makers with more than 1,000 employees (500+ in Europe) in North America and Europe Source: A commissioned study conducted by Forrester Consulting on behalf of SAP hybris and Accenture Interactive, September 2015 *Source: A commissioned study conducted by Forrester Consulting on behalf of SAP hybris and Accenture Interactive, August 2014
  10. 10. © 2015 Forrester Research, Inc. Reproduction Prohibited 10 Buyers use non-traditional sites for research Search engines 26% Consumer marketplaces 33% Business marketplaces 17% Base: 1,307 business decision-makers with more than 1,000 employees (500+ in Europe) in North America, Europe, LATAM and APAC Source: A commissioned study conducted by Forrester Consulting on behalf of hybris and Accenture, September, 2015
  11. 11. © 2015 Forrester Research, Inc. Reproduction Prohibited 11 Buyers are simply buying more online “How have your B2B online work-related purchases changed from 2014 to 2015?” Base: 1,307 business decision-makers with more than 1,000 employees (500+ in Europe) in North America, Europe, LATAM and APAC Source: A commissioned study conducted by Forrester Consulting on behalf of hybris and Accenture, September, 2015 63% have made more purchases online 53% have increased their avg. purchase size 65% have increased total spend on work purchases
  12. 12. © 2015 Forrester Research, Inc. Reproduction Prohibited 12
  13. 13. © 2015 Forrester Research, Inc. Reproduction Prohibited 13 Customers would buy again from the same supplier… 19% 16% If they have transparent prices and product details If they track my purchasing habits across different channels to give personalized recommendations. If they have the broadest selection of products or services If they have consistently lower prices If they offer multiple payment options If they offer omnichannel capabilities If they have excellent customer service and post-purchase support Rank 1 Rank 2 Rank 3 Rank 4 Rank 5 Base: 1,307 business decision-makers with more than 1,000 employees (500+ in Europe) in North America, Europe, LATAM and APAC Source: A commissioned study conducted by Forrester Consulting on behalf of hybris and Accenture, September, 2015
  14. 14. © 2015 Forrester Research, Inc. Reproduction Prohibited 14 The B2B seller story
  15. 15. © 2015 Forrester Research, Inc. Reproduction Prohibited 15 Top 4 drivers behind omnichannel investment To meet customer expectations (74%) To provide a consistent experience across channels (65%) The omnichannel customer has a higher lifetime value (64%) To drive additional efficiencies and cost savings (60%) $
  16. 16. © 2015 Forrester Research, Inc. Reproduction Prohibited 16 #1 Challenge: Difficulty sharing customer data and analytics between channels, countries, and locations
  17. 17. © 2015 Forrester Research, Inc. Reproduction Prohibited 17 Most data only available in some channels Base: 1,307 business decision-makers with more than 1,000 employees (500+ in Europe) in North America, Europe, LATAM and APAC Source: A commissioned study conducted by Forrester Consulting on behalf of hybris and Accenture, September, 2015 Customer name Levels of client satisfaction Customers’ shipping and billing addresses Past purchase history Information about when products were delivered Service and support issues our customers have had Prior sales/marketing contacts Customers’ payment options/habits Products/services researched Clients’ custom pricing and catalog items Information about clients’ businesses SOME ALLNONE 50%
  18. 18. © 2015 Forrester Research, Inc. Reproduction Prohibited 18 Sellers face challenges across all phases of the customer journey Percent that indicated marketing and sales teams are challenged or very challenged when creating a personalized experience at each stage ENGAGE USE BUY EXPLORE DISCOVER ASK Prospect evaluate options Prospect researches short list Prospect purchases product or service Customers share their experiences Customer begins to use product or service 65% 61% 61% 57% 57%
  19. 19. © 2015 Forrester Research, Inc. Reproduction Prohibited 19 Adopt a new mindset
  20. 20. © 2015 Forrester Research, Inc. Reproduction Prohibited 20 Exist in a real-time operating environment
  21. 21. © 2015 Forrester Research, Inc. Reproduction Prohibited 21 Invest in technologies that support the customer journey Source: June 17, 2015, “Accelerate Digital Business With A BT Agenda,” Forrester report
  22. 22. © 2015 Forrester Research, Inc. Reproduction Prohibited 22 Enlist agile processes for analysis and refinement Start small with a platform to extend. Analyze results to monitor performance and optimize outcomes Design the mobile engagement. Engineer your platforms, processes, and people for mobile. Identify the mobile moments and context. Source: The Mobile Mind Shift, Forrester Research
  23. 23. © 2015 Forrester Research, Inc. Reproduction Prohibited 23 Use partners to rally around digital and customer experience excellence 87% of B2B organizations utilize third-party solution providers for at least one component of their digital strategy Source: A commissioned study conducted by Forrester Consulting on behalf of Accenture Interactive *Source: Forrester’s Q1 2014 Global eBusiness And Channel Strategy Professional Online Survey Top 5 initiatives* 1. Global market expansion consulting 2. System/channel integration 3. eBusiness technology selection 4. Quality Assurance (QA) 5. Post-implementation application development enhancements
  24. 24. © 2015 Forrester Research, Inc. Reproduction Prohibited 24 Key Takeaways
  25. 25. © 2015 Forrester Research, Inc. Reproduction Prohibited 25 Prioritize developing and delivering market-leading personalization capabilities
  26. 26. © 2015 Forrester Research, Inc. Reproduction Prohibited 26 Constantly measure efforts and refine offerings
  27. 27. © 2015 Forrester Research, Inc. Reproduction Prohibited 27 Embrace an omnichannel strategy
  28. 28. Build upon a proven and powerful platform
  29. 29. © 2015 Forrester Research, Inc. Reproduction Prohibited 29 Engage with experienced ecosystem partners
  30. 30. forrester.com Thank you Andy Hoar Principal Analyst ahoar@forrester.com @andyhoar1

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