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It’s a simple fact that given a choice, B2B buyers will choose the path of least resistance. Like all of us, buyers are very busy and will always seek efficiency and simplicity. I have heard this referred to as the “lazy buyer syndrome”. That may be a bit harsh, but there is no question that you need to make things as easy as possible for buyers. You can significantly enhance Buyer Empowerment by automating order placement.

“What technologies can we deploy to make the order placement process as easy (and accurate) as possible and advance Buyer Empowerment?”

For the Ecommerce executive, this “enabling technology” mandate presents both a challenge as well as an opportunity. The challenge is that your competitors are probably working right now to make things easier – and better for buyers. The opportunity arises when your Ecommerce experience is the best in class. If you can accomplish this, you are well-positioned to win most “jump ball” situations and maybe even some where you are at a slight competitive disadvantage.

How do you become best in class? You do it by being able to capitalize on the buyers’ technical capabilities and the ordering environment. In short, you want to minimize (and perhaps even eliminate) input from the actual buyer in the transaction.

Listed below are three levels of technology deployment to advance order management experiences for buyers. These are highly dependent on technology capabilities of both the seller and the buyer.

Advanced: No Buyer Input to Order Placement

The “dream scenario” is to have the order placed with no human intervention. Examples include:

• IoT (Internet of Things) used to trigger automatic replenishment when buyer’s on hand inventory falls below a specific reorder level. For example, an injection molding manufacturer’s plastic resin is reordered when the IoT sensor in the resin silo triggers replenishment.
• Sellers can make necessary connections to the buyers’ ERP system to capture ordering information that has been generated on their end. When a production order is placed, systems generate all necessary raw materials and orders are placed automatically. Sometimes this integration is facilitated by EDI, Punchout, and of course API integration.

Intermediate: Minimal Buyer Input to Order Placement

There are many possible scenarios to shortcut the process for the buyer. Here are some examples:

• Use AI (Artificial Intelligence)to assess buyers needs, and recommend items and purchase quantities, which shortcuts the ordering process for the buyer. Buyer can approve/edit recommended line items.
• Leverage technology that can assist the buyer in order placement such as voice ordering, bar code scanning, etc.

Basic: Significant Buyer Input to Order Placement

For a variety of reasons, many situations will still require significant buyer input to initiate the transaction. There are still opportunities to streamline this process for the buyer, such as:

• Analyzing customer historical purchases to develop “shopping lists” of top items to shortcut ordering process
• Anticipating common reorder items and recommend replenishment based on timing of previous purchases. Examples include belts and filters for manufacturing equipment, seasonal fertilizer needs for golf courses, etc.

Action Steps:

• Assess the technology capabilities of your largest customers to ensure that you are accommodating their capabilities to streamline ordering. If you are unaware of their capacity, make this a high priority.
• Evaluate the order management processes enabled by your competitors. If competitors exceed your capabilities, this is a significant risk to your existing book of business.

To enhance Buyer Empowerment and also Customer Experience, Ecommerce executives must continually enhance their order management functions to leverage buyers’ growing capabilities. B2B Buyers will be frustrated when their expectations/capabilities are not leveraged by an ill-equipped seller. At a minimum, this will likely result in a poor customer experience. Far worse is the buyer switching suppliers as they seek a more sophisticated Ecommerce experience that provides convenient, efficient ordering.

Just like with their Ecommerce efforts, many senior managers are striving to improve their data governance.  Without a corporate-sponsored initiative in place, they strive for small victories as the volume and complexity of the data stresses the organization.    Instinctively, they know it is the right thing to do, but they need to convince executive management that the investment is justified.

A well-crafted Data Governance program helps firms in many ways; here is a list of 5 tangible benefits you can use to build your case for launching a comprehensive #DataGovernance initiative:

Improving Data Consistency/Accuracy

When it comes to how data is managed across the organization, in many cases it is still the “Wild West”.  Payroll data has historically had adequate controls in place, but elsewhere in the organization there may be varying levels of anarchy running rampant.  This leads to a host of challenges which can include:

• Conflicting financial metrics that require additional resources to resolve disparity
• Compromised managerial decisions resulting from inaccurate or unavailable data
• Poor customer experience resulting from obsolete product information or multiple prices originating from different platforms

Why Data Governance Helps:  One of the core elements of Data Governance is to require that data is centralized – originating from only one location from within the organization.  Centralizing data involves technology, process, and human resource components.  By centralizing data, you have the foundation in place that allows for proper data management and authentication.  With effective governance in place you can achieve a high level of data integrity which has myriad benefits across the organization.

Driving Efficiency

In recent years, the cost of data storage has become so inexpensive it is approaching zero.  A byproduct of very cheap storage is a principal motivator for proper data management has gone away.  The result is very rapid growth of corporate data, both necessary and unnecessary data.  The cost of proper management of this data is directly proportional to the volume.

Properly managed data delivers efficiencies that include:

• Lower overall cost associated in managing the necessary amount of corporate data.
• Ability to create relevant content once and use it in multiple applications throughout the organization.  An example of this would be marketing content related to a specific product.  Properly managed, stakeholders access the one approved version of the content, rather than creating new content from scratch and then re-starting the approval process.
• Adding additional technology functions or upgrading software is much easier when data is centralized and properly managed.
• Armed with better information and consistent paths to obtain it, customer service interactions become far more consultative and less of a scavenger hunt for answers.

Tightening Security

It is commonplace to read about security breaches that in some high-profile cases affect millions of users.  While large-scale threats are typically the result of hackers exploiting some firewall vulnerability, many just happen to be poorly governed storage or device protocols, i .e., ad hoc systems and storage practices.  Familiar examples include:

• Laptops left on a train, or stolen from a car with login credentials taped to the keyboard
• Lost flash drives with no encryption
• Cloud storage such as Dropbox, Google Drive etc.
• Openly emailing data both internal and external to the organization

Security breaches can be extremely costly to the firm, and can even involve regulatory judgements, lawsuits, etc.  In addition to breaches, improper governance can result in proprietary information ultimately being exposed to competitors or perhaps even your customer base.  Imagine if your competitors or customers had visibility to your trade secrets or perhaps your cost and profitability structure.  It could possibly take down your entire organization.

While there is no way to calculate potential liabilities of breaches or lax control of proprietary data, the cost to guard against it is readily available.  While certainly not insignificant, the cost pales in comparison to the potential cost of avoiding Data Governance.

Enhancing Customer Experience

Perhaps the most compelling reason to pursue data governance is to deliver a better experience for your valuable customers.  In addition to the benefits listed above, here are some additional ways Data Governance enhances customer experience:

• Improved response time:  With more efficient operations, customer facing staff can respond to customers in a timelier manner
• Better customer interaction:  With better information being delivered to customers on-demand (better data enables that)
• Higher Brand Loyalty:  Data Governance ultimately drives a higher level of trust and confidence in your organization, for both employees as well as customers.  Trust is a major component in brand loyalty.

Developing a sound Data Governance program is like any other well-planned initiative.  You have to invest resources at the outset, but when well executed the investment will deliver benefits that far outweigh the initial investment.

While having an extensive statistical background is not a pre-requisite to being a good marketer, it is essential that all marketers have a firm grasp on the importance of the “Bell Curve” in virtually all marketing efforts.  Also known as the Normal Distribution, in a nutshell the bell curve is what it looks like when you graph a group of data points for a “normal” sample of data.  Whether it is weight, income, IQ, fitness level, etc. data unavailingly falls into a “normal” distribution when it is plotted.  It has a lot of datapoints around the middle (the average) and outliers at both the high and low extremes.  Please see the image at the right.

The implication for marketers is understanding the segments of the bell curve, and using these segments to your advantage as you orchestrate your marketing efforts.  The quick message is that you can’t market to everyone – as you move across the curve from one end to the other needs change dramatically.  It is always better to market to as specific of a segment of the group, as opposed to the group as a whole.  It is just like target marketing.  You must select who comprises your market segment (portion of the bell curve).

An example will help illustrate this.  Let’s explore the implications of the bell curve for a characteristic mentioned above; fitness level.  On the far left side of the curve, these are the “least fit” people around.  They would have to improve their fitness level significantly in order to even be considered “average”.  On the far right, are the “extreme fitness enthusiasts”.  Everyone else is somewhere closer to the middle – the “mean” or average.  Knowing this, let’s assume we are challenged with marketing a specific service – fitness club membership.  Let’s also assume we have access to proper demographics, and we can target individuals in various fitness level buckets with targeted campaigns.

Marketing to the very far left end  of the bell curve (the most unfit segment) will of course require different messaging than other segments.  For this group, appeals are probably centered on “strive for change” and “you can fit in – members are not all hard bodies”, “Free personal training to get you started” etc.  At the other extreme – the messaging is quite different.  These people have discipline established, and according to our data are already fit.  These are the hard bodies that intimi

date their counterparts at the other end of the curve.  Successful appeals to this segment will likely be in messaging such as “Are your abs beach-worthy?  We can help.”  “Your competition is already training for race season.  Will you be ready?”.  This is of course if you decide to market to this group at all.  Perhaps your research shows that they are not viable candidates to join, maybe they are already doing their own thing.  There is no substitute for good research.

Defining how you market to the extremes will help guide you with your messaging across the entirety of your segments.  This of course will only give you some initial targeting ideas.  Critical of course is to do your due testing due diligence.  Ideate, test, measure, refine, re-ideate (not even sure ideate is a real word – so likely re-ideate is not, but you get the idea.)

Quick Takeaway:  Messaging is for market segments, not entire markets.

Follow These Simple Steps to Facilitate Change Management

Virtually all organizations are striving for some level of Digital Transformation. As with anything, a small minority are true leaders, some are pitiful laggards, and most are somewhere in the middle.

The digital leaders have woven digital elements into virtually every aspect of their organizations, not merely in their Web presence. Elements such as integrated call centers, connected sales reps, and seamless customer experiences are all indications of digital savviness.

If your firm is on the wrong end of the bell curve when it comes to digital integration, you are probably experiencing some form of “digital envy”.   While serious, this condition is treatable given a firm commitment to widespread change.

Action Steps to Lead Digital Transformation at Your Firm:

1. Point to the competition:  Do a competitive site analysis that shows your competition is beating you.
2. Obtain customer feedback:  Nothing speaks louder to c-suite management than the views of top customers.  Some pointed comments from key customers can be very impactful.  This can be very powerful.
3. Point out some glaring problems.  Should not be too hard to do.  If you are feeling bold, as some key executives if they are proud of various functions.  Don’t just point out the problems.  Have a solution in place.  (See #4)
4. Create a high-level plan: Explain of how the digital-transformation could work including theoretical timelines, expenses, resource allocations, etc.
5. Recruit some influential change agents:  These key individuals will help you “fight the fight”.  You can’t fly solo on this.  Think CMO, key sales team executives, CIO etc.  Feel free to share the customer feedback as you are recruiting support.

If you take these few steps (simple, not easy) you probably have a “ticket to admission” to have an initial conversation with executive management.  Don’t expect rapid success.  Change is hard, and requires that your key leadership get out of their comfort zone.  Your job is to raise their collective consciousness.  Be aware, they are likely to resist at first.  Remember – it is a digital transformation.  Not a digital “overnight makeover”.

Be patient and keep chipping away.  You will get there!

There is a tremendous difference between raw data and actionable insights. Data is a collection of metrics, in raw form or just poorly organized. Actionable insights start with the same raw metrics, but are presented in a format that is easily utilized by decision makers. The insights are GOLD – the data is the gold mine. Your business will be more successful if you have someone on staff who can provide you with concise, “executive-worthy” information. Information that will give you insight into the key business drivers. Without it, you have to sift through the voluminous data on your own. You end up being an analyst instead of being focused on growing your business.

Key Questions – The Path to Insights:

Obtaining actionable information starts with asking the right questions. Of course, these questions vary based on your role and the nature of your business. The key is to get started asking the questions. Here are a few that may prompt you to think of others that relate specifically to your marketing situation:

• Who are my top customers over the last six months? How have their purchases changed over the past year, or two years?
• Are there certain “gateway” products or services, that tend to move customers from medium-sized to large?
• How has my product mix shifted? Is it different among the large customers than the overall mix?
• Is my business growing faster than the market in general?
• What are my most profitable products? Least profitable?
• Do any products have a higher return rate than standard?

When you start asking these kinds of questions, you will find that the answers will prompt you to ask even more questions. Congratulations! You are then on your way to actionable information! Each time you ask and answer questions, you are gaining insight to the nuts and bolts of your business.

Using Informed Analysts

Be aware that it is critical to have someone on staff who can mine the data and help you answers these questions. This is an analyst who not only understands the data itself, but what it means to your organization. In my view it is one of the most important roles in any business. This role has to be more business-oriented than data-oriented. Ideally it is someone who has a good understanding of your products, and enough customer interaction to identify needs and drivers.

I was at a Starbucks recently with a friend, enjoying coffee and good conversation. The ambiance was nice, soft music, fine decor, just as you have come to expect at Starbucks. Suddenly, an employee proceeded to drag a garbage can across the entire restaurant, making a very loud screeching sound. Needless to say, the relaxing ambiance was obliterated – in an instant.

That’s how it is with customer experience, EVERYTHING has to be done right. Mostly right doesn’t work. All of your efforts to wow the customer can be negated by even a minor thing. It’s hard to get it right – that’s why most companies fail at it.

In a blog post for 2020 predictions, Forrester* states:

“However,  . . .data strategy success requires much more than the right technology. In the past, this has led to data program scope creep that creates bloated budgets, unmet expectations, and program stagnation . . . In 2020, we think the bubble will burst, finally . . .. Leading firms will make the investments, while the rest will waffle”.

Data is a strategic asset that needs to be treated accordingly, not relegated to some back-burner IT responsibility.  Companies that continue to “store data” and say to themselves “we will have to get around to managing that data later” are setting themselves up for failure.  Firms that choose to continue “kicking the can” down the street in terms of data will discover that they are getting kicked in the can themselves.

*Predictions 2020: Uncertainty Equals Opportunity For The CIO (10-28-19)

In the classic business novel “The Goal”, Eliyahu Goldratt explores business bottlenecks and how to minimize them.  This sometimes involves removing constraints by means of solutions that are not particularly “elegant”.  In the novel, a major constraint is removed from a production process by using an outdated machine to augment production.  While not as efficient as the latest technology, using the old technology removed the bottleneck and production increased.

Keep this approach in mind when designing your Ecommerce solutions.  Sometimes “off the grid” back-end process, while not elegant, are the most practical means to advance your project.  Remember, “The Goal” of your Ecommerce initiatives is to achieve overall efficiency (remove bottlenecks). It is not to try to impress anyone with the elegance of your technology.  What is ultimately most impressive is that which is most efficient!

In the classic book “Good to Great” author Jim Collins analyzes highly successful companies in a variety of industries to discover what makes them transform from “Good to Great”.  Paraphrasing Collins’ findings – there are virtually no overnight successes, just companies that strive to do every task, however small, to the absolute best of their capabilities.  This approach can serve as excellent guidance for those firms trying to achieve greatness in customer experiences.

Every single customer interaction, however small and seemingly trivial is going to improve or diminish the customer’s impression of your company/brand.  EVERYTHING. This includes very simple things like messaging on hold (if my call is truly important to you then why am I on hold listening to a message telling me I  am important), to of course how you handle more high-profile interactions.

Everything matters and is therefore important as you strive to advance your Customer Experience initiatives.  Don’t take anything for granted.

Technology implementations often present significant challenges, and this typically leads to cost overruns and extended timelines.  While cost overruns cause C suite executives significant distress, the delay to launch is often considered much worse.

In an attempt to save time and get things started quickly, Ecommerce executives sometimes choose a technology platform as a first step.  This can be a recipe for disaster. The right technology platform for your firm is predicated on a multitude of factors. These include customer needs identification, technology ecosystem assessment, and a complete review of organizational readiness of backend systems.  Skipping these important vetting steps and rushing to choose a platform prematurely might make you feel like you are “making quick progress”, but there is a good chance you will be putting the round peg into a square hole.  

Resist the temptation to skip the due diligence, do your homework and choose your technology last.  You will save time and money in the long run.