HOW TO IMPROVE CUSTOMER INTERACTIONS FOR B2B

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Presentation transcript:

HOW TO IMPROVE CUSTOMER INTERACTIONS FOR B2B [JOHN – GREETINGS, INTRODUCTION] Diana Todorova, Demand Manager, SAP South-East Europe Friday, 12 October 2018

Agenda Introductions Trends in Consumer Industry Challenges Solutions [JOHN] - Provide overview of webinar - 50 minutes with time for questions at end Forrester Report Closing and Takeaways

Trends in Consumer Industry [JOHN– INTRODUCTION TRENDS]

B2B Customers would buy again from the same supplier… [JOHN] - Pricing transparency beats product selection and low prices - Personalizing the experience for the B2B customer ranks closely behind pricing transparency 19% 16% Transparency of prices Personalized recommendations lf they have the broadest selection of products or services lf they have consistently lower prices lf they offer multiple payment options lf they offer omni-channel capabilities lf they have excellent customer service and post-purchase support

Opportunities in the consumer space are real: 98% 43% 27% of B2B buyers research purchases online before buying offline. B2B buyers prefer to buy directly from the brand that manufactures the product vs. a distributor that sells it. B2B buyers would be willing to pay slightly more to buy directly from the brand that manufactures the product. [DAVID – SLOW DOWN – ALLOW AUDIENCE TO SEE STATS] - Trends are compelling - Nearly all B2B purchases are starting online - B2B customers prefer working with brands directly - 27% of customers are willing to pay more to work directly with the brands Source: Forrester Source: Forrester/Internet Retailer Q4 2017 Global B2B Buy-Side Survey Source: Forrester/Internet Retailer Q4 2017 Global B2B Buy-Side Survey

Top drivers of digital transformation 74% 65% 64% 60% Provide better Customer Experience/ Meet customer expectations Provide a consistent experience across channels Higher lifetime value To drive additional efficiencies and cost savings [JOHN] - Customer expectations – Keeping up with B2C experiences like Apple and Amazon - Presenting a consistent face to the customer across channels - Mining higher lifetime value from the customer relationship - Enabling scale without increasing costs

Where are these pressures coming from? Decreasing product differentiation Buyers are more empowered Speed is more important than ever New business models driven by technology [JOHN] - Standing out on product alone is becoming more difficult - Buyers have more information on products – price / availability / specification - Speed makes and breaks sales in B2B - Rapid technological change driven by connectivity, the cloud, and mobility

How are customers engaging? 62% of B2B buyers request self-service capabilities GROWING TRENDS WEB SELF-SERVICE SOCIAL VIDEO MOBILE EMAIL LIVE-AGENT VOICE IVR [JOHN] - Email is falling out of favor - Live agent help centers are slow - IVR can largely be replaced by other online help technologies - Providing information so customers can help themselves - Crowd sourcing information and solutions - YouTube generation - Make it all accessible via mobile devices [TRANSITION TO DAVID FOR THE CHALLENGES] DECLINING TRENDS Source: Forst & Sullivan 2017

The Challenges [DAVID]

Business problems in the consumer industry Digital capabilities falling short Complex business rules & processes Silo’ed, redundant, and aging software [DAVID – SLOW DOWN] - Repeated throughout several of our customers - Which of these topics stand out in your enterprises? [NEXT: COMPLEXITY] Institutionalized work-arounds Ill-equipped agents Shifting customer behaviors and expectations

Serve the customer at every point of their journey RESEARCH PURCHASE CUSTOMER SUPPORT There is a much higher reliance on digital assets Digitization has changed the way customers transact Customer are in the driver seat dictating the new rules [DAVID – SLOW DOWN] - Manufacturers are uniquely positioned to provide the best research - Purchasing products is much easier – P-Cards, Invoicing - Customer support – the customer is right at the source [NEXT SOLUTIONS] Enriched high-quality product content is critical Pricing, Processes & Policies must be consistent Customers expect Self- Service + OEM having a single view of their activity

The Solutions [DAVID]

Desired outcomes Grow aftermarket service parts Improve sales efficiency Enable new revenue streams Go mobile Reduce cost to serve Manage complex products & pricing [DAVID – SLOW DOWN] - Manufacturers are working towards these outcomes - Do any of these resonate? Offer product selection and CPQ Sell service solutions Expand channels & geographically

Improving customer engagement in 3 ways: CUSTOMER CENTRICITY OPERATIONAL EFFICIENCY & AGILITY GROWTH & INNOVATION 360 Degree View of Customer Sales & Service Next Gen Business Models [DAVID] - We are working with customers to improve engagement in three ways - Start with the customer in mind – what do they need to come to you or stick with you? - Look at what’s happening within the enterprise – where can efficiencies be found? - Be able to support new products and service moving forward Marketing automation Social marketing Self service Product information Service integration 2D & 3D parts selection Digital content DIY marketplace Predictive analytics My equipment Subscriptions Software Telematics / IoT Owner’s portal

Customer dynamics: a digital experience 70% B2B revenues come from customers using digital channels 70% [DAVID] - Digital experiences matter – the numbers prove it out - Expectations are rising too [TRANSITION TO JOHN ON GROWTH] B2B firms say that customers have higher expectations on the experiences they have in the buying process Source: 2015, 2017 Forrester Research

Growing… 70%-90% Of the total lifetime cost of heavy equipment is in maintenance, repair, and services [JOHN] - Post-sales opportunities are massive [STAT] - Making the initial – share of wallet – is augmented by service – share of wrench Share of wallet Share of wrench Source: IDC Whitepaper: From Products to Services

Supporting the entire lifecycle and value chain Equipment owner Lifecycle management Service call parts replacement health check Equipment + distributor + service + parts Cross sell renewal [JOHN] - Data and the right tools make the customers’ journey - Managing the customer and product lifecycle opens up new opportunities - Selling parts, consumables, service are all possible [TRANSITION TO DAVID ON THE FORRESTER REPORT] Recommendations Customer journey Feedback

Forrester Report [DAVID]

What are B2B leaders saying? Key Finding: Manufacturers are not confident in their ability to manage the digital purchase process. How confident are you in your ability to execute each of the following digital capabilities? (Showing “Very Confident”) Convert visitors to buyers 35% Managing final stages of purchase fulfillment 34% [JOHN] - Only 35% of manufacturers said they were ”very confident” on their ability to convert visitors - They reported similar confidence in their eCommerce abilities Tracking effectiveness of digital marketing campaigns 33% Communicating product information to drive purchase 32% Capturing customer information for tracking 28% Very Confident

How are Manufacturers rating the importance of Commerce functionality? Key Finding: Buying is not the challenge – the challenge is in gaining insights into customer behavior: Convert visitors to buyers 61% Managing customer experience through full purchasing lifecycle 42% [JOHN] - Yet they rate conversion as the most valuable task they can be doing Communicating product information to drive purchase 54% Tracking effectiveness of digital marketing campaigns 42% Capturing customer information for tracking 42% Very Valuable

Marketplaces have a positive impact a Manufacturer’s ability to operate a Commerce experience Manufacturers operating their own Marketplaces: Gain confidence in converting visitors to buyers Have an increased ability to execute purchase fulfillment Gain better insight into their customers Are mitigating channel conflict by opening new channels for their partners Key Takeaway: Manufacturers can see greater success by going direct to customers How confident are you in your ability to execute each of the following digital capabilities? (Showing “Very Confident”) Difference Convert visitors to buyers 45% + 10% [JOHN] - We see a boost in confidence in manufacturers implementing Marketplaces (STATS) [TRANSITION TO DAVID ON CHAMBERLAIN / LIFTMASTER] Managing final stages of purchase fulfillment 43% + 9% Capturing customer information for tracking 32% + 4% Very Confident

Closing and Takeaways [JOHN]

THREE KEY TAKEWAYS: MANUFACTURES SHOULD BE SELLING DIRECT B2B customers want to engage with the manufacturers they use – provide a complete solution of engagement and commerce CUSTOMERS ARE EXPECTING A B2C-LIKE EXPERIENCE Customer expectations are rising and your experience systems need to be able to meet those expectations MARKETPLACES OVERCOME CHANNEL CONFLICT Manufacturers now have the ability to create a bigger pie to share with their channel partners [JOHN] - You should be selling direct - Customers want it and they are willing to pay more. - Channel conflict can be mitigated - Marketplaces are one possible solution - Get ready for changes in business models

RESULTS IN NUMBERS: FORRESTER TEI STUDY 307% ROI OVER 3 YEARS 5% 70% 30% INCREASED AOV DROP IN ORDER PROCESSING COST INCREASE IN PRODUCTIVITY [JOHN] - Forrester research on the Total Economic Impact of a Hybris Commerce deployment Source: Forrester TEI Report on Hybris Commerce, 2017

Thank you. Contact information: Diana Todorova Demand Manager, SAP SEE D.Todorova@sap.com