Five Lessons on Digital Transformation from B2C Leaders

BCG

Article Monday, December 12, 2016. Companies’ lifespans are shorter than ever before. Digital disruption has become so intense that pure players in digital are no longer disrupting just incumbents, they are disrupting other pure players as well: HomeAway has emerged as a strong rival to Airbnb.

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Forget B2C and B2B -- We Need B2I

Strategy+Business

Salesforce.com strategist Peter Schwartz argues that the lines between B2B and B2C are forever blurred, and now every company competes in the business-to-individual sphere, where the products and services it offers are tailored to every one of its customers In the fast-approaching world of tailored products and customer experience as competitive advantage, the old categories of business and consumer will be obsolete.

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Why Are B2B Companies Ignoring B2C CX Practices?

1 to 1

But unless B2B customer experience practitioners want to run the CX race with one foot in a bucket, they should also learn strategy from Holiday Inn and Burberry, customer understanding from Vanguard and Virgin Mobile Australia, and design practices from Fidelity and the Spanish bank BBVA - the list of relevant B2C case studies goes on and on. It disappoints me when customer experience professionals at B2B companies won't even consider CX practices from business-to-consumer companies.

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Customer Experience Design Lessons From B2C & B2B Award Winners

1 to 1

B2C financial services provider Ally Bank and B2B professional services firm PwC Australia took home top honors in the design category of Forrester''s first annual Outside In Awards.

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The B2B analytics playbook: Capturing unrealized potential in telcos

McKinsey

Telecommunications companies have been leaving money on the table by underinvesting in advanced analytics in their B2B business units relative to their B2C operations.

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Measuring B2B’s digital gap

McKinsey

B2B companies fall short of their B2C counterparts in key areas of our Digital Quotient assessment. Our Insights

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Box’s CEO on Pivoting to the Enterprise Market

Harvard Business

But by staying disciplined with the product and deeply understanding market trends, they’ve made the strategic shift from B2C to B2B work. Aaron Levie, the CEO of Box, reflects on the cloud storage company’s entry into the enterprise market. He was skeptical about pivoting away from consumers, and it was challenging. Download this podcast. Technology Disruptive innovation Business models Audio

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The One Ratio Every Subscription Business Needs to Know

BCG

Ever since Salesforce.com pioneered software as a service (SaaS), companies across industry sectors—B2B and B2C alike—have made the move. Article Thursday, February 09, 2017. Today, more and more businesses are migrating their products from a purchase-based to a subscription-based model.

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How a Digital Storm Will Disrupt the Parcel and Express Industry

BCG

Business is solid, with stable revenue in B2B and rising volume in B2C. Focus Thursday, December 15, 2016. It’s the year 2026, and you’ve just emerged from a tough earnings call with analysts. Revenue was down by 10%, and profits fell twice that.

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Simplifying IT to Accelerate Digital Transformation

BCG

For B2C companies, disruptive innovators—such as Airbnb, Simple, and Uber Technologies—continuously roll out new models and services, and each one raises the competitive bar. Article Monday, April 18, 2016. Corporate IT functions are being hit with a one-two punch.

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The Generous Act of Marketing

Prudent Pedal

For the past 20 years, the B2C marketing profession has been moving in the direction of professional services. These consumer-focused companies are finally learning what professional services firms have known for decades—dare I say centuries.

AI Comes Alive at Leadscon NYC

1 to 1

And the recent Leadscon 2017 “Connect to Convert” conference in New York bustled with innovative ideas about how to use AI and bots in B2C and B2B marketing. AI and chatbots are driving forces in how businesses understand and assist their customers.

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When “Word of Mouth” Isn’t Enough

Martinka Consulting

But for a more traditional B2B or B2C firm (like this one that sells to businesses, government, and consumers) there needs to be marketing plus some sales effort. I’m talking to an owner who’s pretty darn proud of the fact he doesn’t do any marketing or have any sales effort because it’s all “word of mouth.” He tells me this knowing I know his friend (with the same type of business) in a noticeably smaller market that has two to three times the revenue he has.

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Chief Customer Officers Must Orchestrate Experiences

1 to 1

Whether firms call them a chief customer officer (CCO) or give them some other label, they are sitting at the highest levels of their companies and exist in both B2C and B2B companies as diverse as GM, UnitedHealth, Fidelity, Level 3 Communications, and Eli Lilly. Over the past seven years, Forrester has observed the trend of companies putting in place a senior executive responsible for leading customer experience efforts across a business unit or an entire company.

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7 Creative Ways to Boost E-commerce Sales

Tom Spencer

Although 82% of B2C and B2B companies use email marketing strategies, only 28% of consumers actually wish to receive promotional emails more often. Your website is live and you’re ready to sell, but you just can’t seem to attract enough customers.

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Strengthening Digital Customer Engagement by Creating Buyer Personas

1 to 1

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The Results Are In: The 2012 ThinkResults Launch Survey

Women in Consulting

By: Jennifer LeBlanc In summer 2012, in partnership with our survey partner, The Insight Advantage , we surveyed B2B and B2C leaders about their experiences with launches within their companies over the previous year.

Engaging the B2B Customer

1 to 1

Given the amount of emphasis that''s placed on using data and automation to engage with B2C customers across the industry, I was instantly intrigued by the possibilities for B2B organizations. A few years ago while attending Dreamforce, I had a few meetings with executives from marketing automation companies who shared different approaches to engaging with B2B customers and prospects.

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Consulting Jargon

Tom Spencer

B2C: Stands for “business to consumer” and indicates that a business is aiming to sell directly to consumers rather than to other businesses. (Source: Flickr ). We have commented on consulting jargon before, but we will do it again.

The Real Danger of Black Friday/Cyber Monday Madness

Women in Consulting

Long-term success with your customers, whether you’re in the B2C or B2B market, requires providing goods and services that your customers value at a fair price to both you, the provider, and to the customer. By: Linda Popky The post-Thanksgiving shopping frenzy started early this year, with some stores actually holding Black Friday sales on Thanksgiving evening.

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Stop Fighting The Change That Has Long Been Our Reality

Melissa Agnes

Everywhere you turn, you’re presented with the same message in many forms. Take, for example, the following three quotes: “In social media, the only guarantee is change” – Convince and Convert.

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Consulting Jargon 101

Tom Spencer

B2C: Stands for “business to consumer” and indicates that a business is aiming to sell directly to consumers rather than to other businesses. ORGANISATIONS hire management consultants to help them solve their most challenging business problems. Senior management are busy people, and so consultants need to communicate their message clearly and concisely, preferably accompanied by some colourful powerpoint slides.

Stop Treating B2B Customers Like Digital Novices

Harvard Business

Consumer-facing (B2C) companies like these and many others have long realized the power of online digital networks to address the questions or issues of their customers. When your laptop malfunctions, you usually can find a fix on an Apple or Dell user forum within minutes.

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Replacing the Sales Funnel with the Sales Flywheel

Harvard Business

All of these examples are B2C. If your business is B2C, the train is about to leave the station. clu/Getty Images. I’ve been using the sales funnel for 28 years, my whole career.

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Machine Learning Can Help B2B Firms Learn More About Their Customers

Harvard Business

B2C firms have been the leaders in customer analytics initiatives. Extensive data and advanced analytics for B2C have enabled strategists to better understand consumer behavior and corresponding propensities as visitors and purchasers conduct daily activities through online systems. By helping B2B companies gather better data on their customers, AI will help them catch up with their B2C peers. vincent tsui for hbr.

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To Grow Your Business Abroad, Partner with Local Influencers

Harvard Business

William Andrew/Getty Images. When companies expand into foreign markets, they need to gain the trust of local business partners and prospective customers in order to succeed.

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Ban These 5 Words From Your Corporate Values Statement

Harvard Business

Several words always come up in practically every discussion, no matter if the company is a large enterprise or a small business, B2B or a B2C, product or service, new or established. CSA Images/Getty Images. Practically every organization today has a set of core values that ideally function as the “operating instructions” of the company.

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The Supply Chain Economy and the Future of Good Jobs in America

Harvard Business

It represents the industries that sell to businesses and the government, as opposed to business-to-consumer (B2C) industries that sell for personal consumption. The intensity of Science, Technology, Engineering and Math (STEM) jobs, a proxy for innovation potential, is almost five times higher in the supply chain economy than in the B2C economy. Richard Leeney/Hayon Thapaliya/Getty Images. The U.S. supply chain is generally recognized as an integral part of the American economy.

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What Western Companies Need to Know About Partnering with Startups in India and China

Harvard Business

The upshot is that Western multinationals operating in China are competing not only with each other but, more significantly, also local rivals and must differentiate themselves more forcefully than is necessary in India by, for instance, playing to their strengths in B2B rather than B2C business models. px photography/Getty Images.

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The Internet of Things Needs Design, Not Just Technology

Harvard Business

As B2C companies rush to exploit new IoT applications, pushing technology to potential end users no longer works. Gartner Research predicts that the typical family home will contain as many as 500 networked devices by 2020.

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How B2B Companies Can Grow with Ecosystem Orchestration - SPONSOR CONTENT FROM ACCENTURE STRATEGY

Harvard Business

Currently, B2B companies lag their B2C counterparts in using technology to understand the customers and devise strategies for delivering better experiences. B2B companies are struggling with a loss of control over the customer experience (CX) today. As they grow their indirect channels, this issue will only get worse. With their future growth prospects at stake, B2B executives must determine how to improve CX—while ceding more of the experience to their partners.

Is Your Company Ready for the Rise of Smart Cities?

Harvard Business

But now the range of possibilities has gotten bigger, and B2C or even B2G2C business models are growing more common. ROGER HARRIS/SCIENCE PHOTO LIBRARY/Getty Images. The movement to make cities smarter is transforming municipal governments worldwide. But that’s only one side of the story. For companies, smart cities represent major business opportunities — and not only for tech firms selling systems to government agencies.

Doing Business in India Requires a Mobile-First Strategy

Harvard Business

Not just B2C companies, even B2B companies such as Rolls Royce and Deere, and technology companies such as Corning and GE better abandon marketing and communication using TV and newspaper channels and instead develop robust digital marketing strategies using mobile. If you want to see how mobile technology can disrupt the very basics of business models and habits established over hundreds if not thousands of years, look at what’s happening in India.

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Sometimes “Small Data” Is Enough to Create Smart Products

Harvard Business

These are amazing technologies with great promise for any level of executive in any B2C or B2B company. When thinking about practical applications for artificial intelligence in your business, it’s easy to assume that you need vast amounts of data to get started. AI is fueled by data, and so it only makes sense that the more data you have, the smarter your AI gets, right? Not exactly. When it comes to extracting intelligence by applying AI to data, context matters.

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How to Convince Customers to Share Data After GDPR

Harvard Business

Personalization is by no means a new concept, but GDPR is forcing both B2C and B2B marketers to truly embrace individualized communication that is tailored to customers’ unique interests if they wish to retain customer data. Alex Maxim/Getty Images. In recent years, marketers have lived through the Era of Big Data, and the Era of Personalization, and now we are living through the “Era of Consent.”

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The Most Successful Brands Focus on Users — Not Buyers

Harvard Business

Although our survey emphasized B2C brands, we believe the Purchase and Usage mindsets are equally, or even more, relevant for B2B brands. Ilka & Franz/Getty Images. What makes a brand successful in the digital age? A joint study by SAP, Siegel+Gale, and Shift Thinking suggests that digital brands don’t just do things differently; they also think differently.

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What to Do When You’re Returning to a Company You Used to Work For

Harvard Business

She managed crisis communications, ran PR for big national brands, and worked in B2B and B2C. The idea of boomerang employees — workers who voluntarily leave a job at an organization and then rejoin that same organization at a later date — is gaining more and more acceptance from hiring managers and in the labor force. If you’re one of these employees, how should you handle your comeback? What’s the best way to get back into the fold?

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