We helped organise the first (we think) B2B e-commerce meetup in London recently.
It was great fun and a fantastic turnout and we want to build from here with another planned for Q1 2019.
A big thank you to Richard Hunt from Magnitude who kindly hosted and spoke.
To commemorate this momentous occasion, we have pulled together our key takeaways. My top 5 are here:
- The customers perspective was clear – we all know digital is a great way to drive sales locally and globally, but when the home markets have 85%+ penetration how do you replicate this in areas where there are cultural barriers to change because of the traditional established relationships which are the default. The answer it seems is through hard work, a seamless experience and time.
- Establishing as easy and smooth an experience as possible in any digital shift has to be the goal. Convenience has to be a given, as if it is simple then adoption will be good. Getting an early but simple experience to market trumps waiting to get something more fully formed.
- When considering what constitutes a successful digital project, set lots of incremental markers for success, but there should be an acceptance that you never reach the summit, which by the same token doesn’t mean you have failed.
- There is a need to overstate benefits to the tune of 15% to get buy in on a new digital project. This may sound cynical, but in the current world stating the benefits as is, doesn’t seem sufficient to get to the budget for the project in the first place.
- We talked about the power of the review in B2C and what that means to B2B. The consensus was that for a value or specialist buy then other things are still far more important. So say you have engineers sourcing projects – they want a lot more in respect to available resources supporting their decision making and further use of the product or part. So as brands reinvent themselves with stories around innovation, heritage and investment, there is a really important opportunity to build a rich experience which cements and ensures the suitability and success in the use of that product. This gives something which can support distributors and build loyalty from users.