Avionos’ latest B2B buyer report unveils that B2B buyers want to have their cake and eat it too. They want the basics: convenience and productivity, as well as ongoing digital product innovation in commerce and marketing.
Today, Avionos, a global partner to Fortune 500 companies transforming their end-to-end digital experiences to meet customers’ evolving expectations, releases its annual B2B commerce report, “Never Settle: Expect the Basics and Innovation in B2B eCommerce Capabilities Now.” The 2022 report showcases how B2B buyer expectations have elevated regarding basic capabilities like delivery and fulfillment, access to sales reps, and understanding product information as well as more complex experiences like consistent global brand experiences that offer local tax calculation and regional content.
These insights are set among the backdrop of B2B decision-makers facing a near-certain recession, tightening markets, and complex global economic conditions. As a result, there is growing concern among B2B buyers about efficiencies within their organizations as well as their suppliers and partners. Productivity, convenience, and efficiency are critical as they navigate this market.
To better understand how B2B organizations seek to push forward with innovation without sacrificing the fundamentals, Avionos surveyed 150 B2B buyers in manufacturing, financial services, and consumer packaged goods about their buying preferences and experiences.
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Key findings from the report include:
- B2B buyers will switch suppliers for a better experience: 85% of B2B buyers would turn to a competitor if their supplier’s digital channel can’t keep up with their desires as a buyer — holding steady from 90% in 2021 and 88% in 2020.
- Efficiency is top of mind for B2B buyers: B2B buyers’ top priority for the next 12 months is increasing efficiency in their processes.
- Supplier tech creates frustration: 97% of online buyers experience some sort of pain point during the eCommerce purchasing process as a result of suppliers’ tech solutions.
- Global operations require additional oversight: B2B buyers at global companies feel the most important capability suppliers can provide is a consistent global brand experience.
- B2B buyers value — and seek out – innovation: 94% of B2B buyers agree their company prefers to work with suppliers that continuously evolve their digital capabilities and experiment with offerings.
“Much has changed in the world and our global economy over the four years we have been conducting this report, and yet we continue to see the same finding from our research: suppliers that don’t meet B2B buyers’ digital experience expectations will fail,” said Scott Webb, CEO of Avionos. “B2B buyers saw rapid acceleration of their digital transformation journeys and are telling us that not all of their suppliers are keeping up with the new pace of change. That is both the challenge and the opportunity that faces B2B organizations today. Buyers have every reason to expect the basics of productivity and efficiency – internally and with suppliers and partners – while also seeing innovation in their offerings to customers. In times of drastic change like we’ll see through year-end, B2B companies cannot bury their heads in the sand. They have to keep moving forward. We thrive being their stewards through the uncertainty.”
To take their businesses to the next level, B2B buyers seek out evolved suppliers capable of layering in innovation and efficiency. Unfortunately, those expectations are not always being met. The report discovered that 72% of B2B buyers have experienced frustration over a supplier’s resistance to changing their operations to better fit buyer needs. Suppliers ignore such frustrations at their own risk. In fact, 85% of B2B buyers would turn to a competitor if their supplier’s digital channel can’t keep up with their desires as a buyer — holding steady from 90% in 2021 and 88% in 2020.
While B2B buyers’ ongoing frustrations with suppliers are valid, many organizations know they have their own work to do. Avionos’ research showed that B2B buyers are open to changing their operational processes with the goal of efficiency and innovation in mind. However, while B2B decision-makers are open to these improvements, they struggle to turn it into action.
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