Is digital transformation just a buzzword? Does it seem unattainable for your small business? SMB business owners are wrestling with these questions and seeking clarity. B2B SMBs can achieve digital transformation; it takes work, commitment, and the right strategy. To help you get started or keep progressing, we’ve designed a roadmap for B2B SMB digital transformation.
Quick Takeaways
- SMBs understand the value of digital transformation and are accelerating efforts, yet still struggling with challenges.
- Digital transformation is a necessity to stay competitive and meet customer needs.
- B2B SMBs can achieve digital transformation with minimal friction by adopting the right technology, committing to digital marketing, empowering employees, and delivering optimal experiences for customers.
SMBs and Digital Transformation: What Leaders Are Doing and Saying
A recent survey of 3600 SMBs found that 51% are accelerating digital transformation investments and priority. They also noted that the pandemic amplified this. The push to become more digital has value, and they know it.
The main drivers behind this rush to adopt include reducing costs, inspiring innovation, improving operations, boosting business growth, and improving productivity (see chart below):
Digital Transformation Is Critical to Staying Competitive and Meeting Customer Needs
The pandemic delivered both disruption and opportunity. People shop for services and products differently, even in the B2B realm. eCommerce is fast becoming a necessity for B2B, as Forrester predicts it will hit $1.8 trillion in the U.S. by 2023, accounting for 17% of sales.
Why the Change?
Outside of the pandemic making it obligatory, B2B buyers are changing in other ways. Currently, around 73% of those making B2B buying decisions are millennials. They are digital natives that want easy, convenient ways to purchase.
The typical B2B buyer performs approximately 12 online searches as research, according to Google. They also seek out content, consuming up to 13 pieces before purchase. This consists of vendor and third-party content.
Meeting your customer where they are now requires robust digital channels. You need to attract their attention with content marketing efforts that demonstrate solutions, expertise, and thought leadership. Your content also needs to rank well to get found in those searches, which requires an investment in organic SEO.
Further, when a customer arrives at your website, it needs to be easy to navigate and find answers. You also need either an eCommerce framework to sell physical products or a self-guided experience for users so they can purchase your app or service.
The good news is that these outcomes are not out of reach for B2B SMBs. There are specific strategies to implement that will accelerate or strengthen your digital transformation.
The Roadmap to Digital Transformation: Directions Ahead!
Now, it’s time to talk about the roadmap and the four pillars noted above…
