Omnichannel CPQ.

What’s driving the need for omnichannel?

For B2B businesses, the journeys their customers take to buy from them have shifted beyond just direct sales. Today’s B2B buyers have grown into independent agents, weaving paths through segmented partner channels and ecommerce systems to find the products and services they want to buy.

More than ever, B2B organizations must cater to this new paradigm in order to stay relevant in the eyes of their customers, or else they risk driving buyers into the open arms of the competition. As buyers increasingly expect world-class digital buying experiences, an omnichannel strategy is the only path to success for B2B organizations.

Read the Forrester Wave: Configure-Price-Quote Solutions, Q1 2017:

Why are omnichannel customers your best customers?

More and more organizations are discovering strong incentives for embracing a digital omnichannel strategy. According to Forrester Research, omnichannel customers are a B2B business’s best customers for three specific reasons:

• Omnichannel customers are more active — Digital buyers are more likely than their offline counterparts to both try new products or brands as well as return to existing brands according to Forrester’s findings. They’re also more likely to become repeat, long-term customers of brands offering a simple, enjoyable digital buying experience.
• Omnichannel customers spend more — According to a Forrester survey, 51% of B2B digital professionals said their omnichannel customers increased their spending with them year over year, with 60% reporting that their customers end up spending more when they interact across multiple channels.
• Omnichannel customers cost less to support — In the same Forrester research report, it was found that cost savings was the top reason for companies moving their customers to an online channel. Thanks to modern ecommerce platforms, organizations are replacing costly human support practices with a digital customer support experience provided by search engines, algorithms, and detailed training material.

Recognizing the need and incentive to better meet the expectations of modern buyers, how does FPX CPQ help B2B companies adopt, implement, and execute an omnichannel buying and selling structure?

Citation: Andy Hoar with Martin Gill, Jacob Milender, and Andrew Reese, Forrester Research, The Case For Omnichannel B2B. October 3, 2016.