The Great ReAssessment
McDonald’s is now focusing on delivery at 30,000 locations?
B2B buyers now prefer omni-channel interaction vs the usual way of doing business?
What is going on?
While much of the world is slowly re-emerging and wondering when everything will return to normal, most business owners are waking up to find out the world has already changed. Irrevocably.
Worldwide, well over 10% of all sales at McDonald’s in 2020 came from delivery orders. Digital sales were a full 20% of total revenues. Huh?
“McDonald’s investments in digital, delivery and drive-thru were the “difference maker” during the pandemic and are central to the company’s efforts to create a faster, easier and better customer experience,” according to McDonald’s CEO.
B2B has also not been spared wholesale change. According to a McKinsey study, even as in-person interaction became increasingly safe, B2B buyers were clear that they preferred a mix of in-person, remote and digital self serve-interactions equally.
Why? Because their B2B digital interactions increased by 50% during the pandemic and B2B buyers liked it that way.
B2B Buyers actually chose practicality and timing over efficacy!
Further, 83% of B2B industry leaders said omni-channel sales were more effective than traditional means of selling.
In fact, a full 20% of B2B buyers said they would be willing to spend $500,000 or more in a fully remote/digital sales model. 11% would spend over $1 million!
B2B sales organizations that embrace these changes and integrate omni-channel interactions across the buying journey could benefit significantly. The behavioral shifts of the last twelve months can quickly become a new trajectory for revenue growth.
And these are just two of many irreversible changes
No wonder so many middle market companies are engaged in the Great Re-Assessment. They are taking a cold, hard look at where they are today. Where their industry is today. What has changed. And how those changes need to be addressed. So that their business can thrive!
They recognize that their business life will not return to normal. That many of the pandemic-related changes are permanent. And are affecting their company’s bottom line right now.
B2B companies, who often feel immune to consumer-driven trends, now know they are not immune to these sweeping changes in how business is done in 2021.
Your company may be at an inflection point as a result. Not just because of its own internal growth factors, but because of how these macro-societal factors are affecting the usual ways of doing business. What should you do?
Lao Tzu once said, “If you do not change direction, you might end up where you are heading.”
Indeed.
