Mastering Digital Sales Transformation

[dot_recommends] August 16, 2021 Manufacturing Business Strategy

Get Ahead of the Industrial Pack with Digital Sales 

mastering digital sales transformation is a goal industrial companies hold but they don't plan to invest very quickly. Most (58%) plan to wait 5 years. Only 7% plan to transition to digital sales within 2 years.

B2B customers want a digital sales experience. Industrial manufacturers have been slow to respond. A recent survey found that 96% of industrial sales and marketing executives see value in mastering digital sales transformation. However, most companies’ actions lag far behind their intentions.

The Current State of Industrial Digital Sales

The researchers found that industrial companies can be categorized as leaders, strivers, and laggards based on their capabilities in digital sales. As of April 2021 the landscape looked like this:

  • Only 11% rate as leaders in digital sales transformation.
  • Another 41% rate as strivers.
  • The final 48% rate as laggards.

Time Is Running Out

If you’re wondering what level of urgency your company should assign to digital sales transformation, consider these data points:

  • Currently, online sales make up 21% of total B2B sales.
  • By 2025, 29% of total B2B sales will come from online sales.
  • Also, ~90% of industrial customers see clear benefits in digital B2B sales processes.

Industrial buyers want the predictability, reliability, and seamless service that comes with digital sales. To keep up or get ahead, it’s important to invest now in establishing online sales capabilities. How far has your company come at mastering digital sales transformation?

The Five Markers of Digital Sales Transformation

Leading Industrial companies focus on five key capabilities to transform their sales:

  • End-to-end customer engagement
  • Customized, proactive recommendations
  • Predictive, data-rich customer analytics
  • Standardized, digitized sales processes
  • Marketing, Sales, and Aftersales Collaboration

I wrote about the importance of collaborative marketing and sales functions. We’ll unpack more of these digital sales capabilities in future posts. For now, consider the role of digital sales investment in your upcoming budget cycle.

Thrive in a Connected Economy

Industrial customers prefer a digital purchasing experience. You will also benefit from digital engagement with buyers. Working with the right tools and partners makes the transformation easier. As always, let us know if you’ve got questions!

–parin

Managing Partner

Image credit: Accenture

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