OnDemand WTP Pricing Research

How to improve the B2B buying experience | Digital Commerce 360

Simplifying Purchasing
Sadly, even a strong sales team and an exceptional omnichannel experience won’t close deals if the buying process itself sucks. There’s no silver bullet here but a host of new technologies offer B2B businesses the opportunity to do better by their customers. One of the most promising is the emergence of chatbots. If sales teams had infinite time (or worked for free) chatbots would not be necessary. But, given the limitations on sales teams’ time, chatbots can handle many rote tasks like scheduling and cancelling meetings, sharing resources and answering common queries. This can help customers get responses faster and more efficiently, a key differentiator for any business.

Another set of technologies that has caught the eye of many in the B2B community are so-called price optimization tools. Technology research and advisory firm Gartner Inc. says it “saw a significant increase in the volume of PO&M [price optimization and management] inquiry calls during 2017… we estimate that the market grew by 20% in 2017 to $318 million.” Offered by vendors like Apttus, Navetti and Perfect Price, price optimization tools seek to analyze an organization’s own sales history, plus pricing information from competitors, to determine the optimum price point for a specific service or offering.

These technologies offer real benefit to customers, with Gartner survey respondents citing improved revenues and margins, but they can be expensive. As a result, it should be noted that not all PO&M offerings are offered by standalone vendors and it can be risky to enter into multi-year contracts without first going through an extended proof of concept within a single department.

Read complete article here:

How to improve the B2B buying experience.