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How can B2B companies optimize their marketing and sales efforts in the customer journey with digital means? : A case study with a Swedish manufacturing company.Svensson, Lisa, Eriksson, Sanna January 2022 (has links)
Rapid digital transformation, accelerated by covid-19 and a younger, more digital workforce, has changed the B2B sales environment affecting customer behavior, business practices and technologies. To adapt to this change B2B companies need to create new endeavors that connect marketing and sales activities, and identify how these can be efficiently enhanced by technology and digital tools. There is a need to identify effective tactics in different phases of the marketing and sales process. Consequently, more academic research is needed to investigate critical issues that technology may have in the B2B buying process. This paper thereby aims to establish a framework for B2B companies on how to optimize the customer journey by supporting the sales process with digital inbound marketing. This is examined by looking at how B2B companies can optimize the sales process by targeting customers’ needs with relevant actions throughout the customer journey with the help of technology and digital means. The results of this exploratory single case study demonstrates that the customer journey is complex with several touchpoints, and to create optimized processes, the customer journey must be adapted to each specific customer segment. Further, the study also contributes to the literature by demonstrating the importance of the marketing and sales departments being integrated and working together to create efficient processes. The presented framework for a customer journey can be used by managers to visualize the sales process, and identify at what stages the process can be made more efficient by digital means.
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Why Are You Really Winning and Losing Deals: A Customer Perspective on Determinants of Sales FailureFriend, Scott B 13 May 2010 (has links)
Understanding the determinants of sales success and sales failure has organization wide implications, ranging from an improved salesforce to improved corporate performance. However, a paucity of research on sales failure has resulted in an under-conceptualized field largely built on assumptions. This research proposes to overcome salesforce failure attribution biases by collecting data from the industrial buyer’s perspective. Thirty five post-mortem interviews with procurement decision makers from buying organizations were collected following a failed sales proposal. The context of these failed sales proposals was for multi-year industrial service key account contracts (>$5 Million). The result of this naturalistic inquiry is a model which outlines the determinant attributes of sales failure: price, adaptability and relationship-potential. An experimental design was conducted following this exploratory research in order to test the derived drivers of sales failure and success, as well as provide a trade-off analysis of the three emergent sales proposal themes. Results indicate that a lack of adaptability has the strongest impact on the sales failure outcome variable, as well as buyer characteristics have a potentially moderating impact on the relative trade-off weights between price/adaptability and price/relationship-potential.
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Why Are You Really Winning and Losing Deals: A Customer Perspective on Determinants of Sales FailureFriend, Scott B 13 May 2010 (has links)
Understanding the determinants of sales success and sales failure has organization wide implications, ranging from an improved salesforce to improved corporate performance. However, a paucity of research on sales failure has resulted in an under-conceptualized field largely built on assumptions. This research proposes to overcome salesforce failure attribution biases by collecting data from the industrial buyer’s perspective. Thirty five post-mortem interviews with procurement decision makers from buying organizations were collected following a failed sales proposal. The context of these failed sales proposals was for multi-year industrial service key account contracts (>$5 Million). The result of this naturalistic inquiry is a model which outlines the determinant attributes of sales failure: price, adaptability and relationship-potential. An experimental design was conducted following this exploratory research in order to test the derived drivers of sales failure and success, as well as provide a trade-off analysis of the three emergent sales proposal themes. Results indicate that a lack of adaptability has the strongest impact on the sales failure outcome variable, as well as buyer characteristics have a potentially moderating impact on the relative trade-off weights between price/adaptability and price/relationship-potential.
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Why Are You Really Winning and Losing Deals: A Customer Perspective on Determinants of Sales FailureFriend, Scott B 13 May 2010 (has links)
Understanding the determinants of sales success and sales failure has organization wide implications, ranging from an improved salesforce to improved corporate performance. However, a paucity of research on sales failure has resulted in an under-conceptualized field largely built on assumptions. This research proposes to overcome salesforce failure attribution biases by collecting data from the industrial buyer’s perspective. Thirty five post-mortem interviews with procurement decision makers from buying organizations were collected following a failed sales proposal. The context of these failed sales proposals was for multi-year industrial service key account contracts (>$5 Million). The result of this naturalistic inquiry is a model which outlines the determinant attributes of sales failure: price, adaptability and relationship-potential. An experimental design was conducted following this exploratory research in order to test the derived drivers of sales failure and success, as well as provide a trade-off analysis of the three emergent sales proposal themes. Results indicate that a lack of adaptability has the strongest impact on the sales failure outcome variable, as well as buyer characteristics have a potentially moderating impact on the relative trade-off weights between price/adaptability and price/relationship-potential.
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The benefits and challenges in the B2B sales process derived from digitalization : And the augmentation of the hybrid work modelArrach, Sara, Varchi Tegelöf, Oliver January 2022 (has links)
Sales is one of the oldest professions and is still a vital part of any business. It keeps evolving because of digitalization and from the impact of covid-19. The covid-19 outbreak has had tremendous influence on multiple levels in organizations and for business all over the world. Consequently, there is also an opportunity in a crisis. Furthermore, the firms have rapidly picked themselves up and continue pursuing for survival. Today, management has started restructuring their business models and including hybrid work models for their employees. In this study, the authors will investigate how this old profession is functioning in a modern and evolving business environment. Digitalization has accelerated at an alarming rate during the pandemic. It benefits and challenges many professions on a daily basis, including the B2B sales process.
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Initial business-to-business sales encounters : the impact of the similarity-attraction effectDekker, Johannes J. January 2016 (has links)
During initial business-to-business encounters, salespeople try to enhance buyers’ future interaction intentions. A common belief is that increasing buyers’ similarity perceptions increases the chances of future interaction. This study assesses the impact of the similarity-attraction effect on future interaction. By synthesising social psychology and marketing literature, a conceptual framework is proposed, in which perceived similarity influences salesperson trust. This relationship is mediated by task-related and social assessments of buyers. Task-related assessments comprise willingness (benevolence and integrity) and competence (power and expertise). Social attraction is conceptualised as likeability. Salesperson trust drives anticipated future interaction, together with organisational trust and anticipated added value. The conceptual framework was empirically tested through a cross-sectional survey. Dutch professional buyers assessed recent initial sales encounters. A sample of 162 dyads was analysed, using PLS-SEM, including FIMIX segmentation. This study demonstrates support for a third willingness construct: willingness behaviour. This construct implies that buyers are more influenced by expectations regarding behaviour, than assessments of salespeople’s attitudes. A homogeneous analysis supports the influence of perceived similarity on salesperson trust, both directly and through willingness behaviour. However, model-based segmentation uncovers a segment of cost-oriented dyads and a segment of more profit-oriented dyads. In cost-oriented dyads, there is no significant direct effect between perceived similarity and salesperson trust, and willingness behaviour nearly fully mediates this relationship. In more profit-oriented dyads, the similarity-attraction effect is not present. Theoretical and methodological contributions and managerial implications of these findings are discussed.
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Artificial Intelligence in Business-to-Business Sales Processes : The impact on the sales representatives and management implicationsCyvoct, Alexandra, Fathi, Shirin January 2019 (has links)
Background: The sales representatives in B2B companies are experiencing several changes in their environment, which have already altered their performed activities. In order to meet the new customer needs, Artificial Intelligence (AI) provides an effective usage of the large amount of complex data that is available, defined as Big Data. AI is developing intelligence that is human-like and is expected to impact occupational roles while threating to automate tasks typically performed by humans. Previous technologies have already impacted sales representatives in the performance of their sales activities; however, it is still uncertain how AI will impact and benefit them. Previous empirical findings and the lack of studies centered on the individual impact of AI confirm the need for more academic reports. Purpose: The aim of this research is to explore how the implementation of Artificial Intelligence and usage of Big Data in Business-to-Business selling processes are impacting sales representatives, in term of performed activities. Further, the aim is also to explore the management of individuals during the implementation of AI. Methodology: This qualitative study is based on a realistic perspective with an inductive research approach. The empirical data has been collected through semi structured interviews with six AI-providers and two consulting firms that have proven experiences in working with AI and sales in B2B companies. Conclusion: AI is characterized by its adapting capability as well as its ability to process and combine a large amount of real-time, online and historical data. As a result, the selling process is constantly provided with more accurate, faster and original insights. Through the analytical capacity of AI, the sales representatives are gaining extensive knowledge about the customer and the external world. Also, AI simplifies the creation and maintenance of long- lasting customer relationships by providing specific and valuable content. Administrative tasks and non-sales activities can also become automated through the usage of AI, which enables sales representatives to focus on their core tasks, for instance relationship building and value-adding activities. The threat of automation and elimination of jobs should be redefined into the possibility to augment human capabilities. By adopting this approach, the importance of the human-machine collaboration is strongly emphasized. In order to increase the willingness for changing working procedures at individual levels, the communication during the process of change should be centered on creating a positive perception and understanding of AI. It is also important to create trust for AI and promote a data-driven culture in order to ensure the systematic usage of the system.
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Att lyckas med digitala säljstrategier inom svensk telekom / How to succeed with digital salesstrategies in Swedish TelecomHULTÉN, MIKAEL January 2016 (has links)
I dagens värld där digital och teknisk utveckling rör sig snabbt tvingas företagen att skapa dynamiska affärsmodeller anpassande efter dynamiska marknadsförutsättningar. Kunderna blir allt mer digitala, förväntar sig realtidstjänster och är mindre öppna för komplikationer. Linjerna mellan olika marknader som IT och telekom blir all mer oklara utvecklingen av ICT och IOT kommer att förändra vardagen för både B2B och B2C kunder. Denna utveckling påverkar olika marknader på olika sätt och i olika takt. Telekombranschen står inför en global utveckling där konkurrerande företag definierar sig som digitala tjänsteleverantörer samt skapar samarbeten och digitala marknadsplatser vilka erbjuder tjänster som sträcker sig utanför sitt klassiska affärsområde. Inför denna utveckling med nya digitala affärsstrategier och nya försäljningsstrategier är nyckeln att vara en del av den tekniska utvecklingen, dessutom vara en del av nästa generations telekomoperatörer. Möjligheten att ompositionera sig som digital tjänsteleverantören kommer med strategiska utmaningar och nuvarande organisationer måste utvärderas för att bilda en strategi angående hur man ska konkurrera och lyckas i den framtida marknad som uppstår. Detta har gjorts i form av en fallstudie som utförts inom en av de största teleoperatörerna i världen. Bolaget valt är en av ledarna erbjuder både mobila och fasta tjänster med en bred produktportfölj. Studien är dock koncentrerad till en division av bredband och digital-TV, men som studien visar blir förmågan att röra sig över gränserna allt viktigare. Den kvalitativa studien innebär empirisk forskning genom att intervjua hela kedjan av beslutstagare inom företaget. Resultaten tyder på att företaget i fråga visar incitament till att bli en digital tjänsteleverantör och att avancera i sin digitala försäljningsstrategi och digitala kommunikation mot både B2B och B2C kunder. Dock måste företaget att avancera i flera områden av betydelse för att bli en dynamisk digital tjänsteleverantör. Skapa digital kommunikation, förlänga värde-propositioner, skapa innovativa samarbeten samt investera mot ny kärnteknologi för att flytta bort från den prispressning som är associerad med dagens telekom marknad. Resultatet av studien har innebörd ur såväl teoretiskt som ett industriellt perspektiv. Ur en teoretisk synvinkel, bidrar resultaten till befintlig forskning inom hur digitaliseringen påverkar traditionella affärsmodeller och hur bolag bör omformas efter alltmer digitala marknader och kunder. Ur industriell synpunkt bidrar studien med interna och externa faktorer i hur man ska hantera den allt mer digitala telekommarknaden samt viktigaste förbättringsområden. / In today’s world the digital and technological development are moving fast forcing companies to create dynamic business models following the new incentives in the market. Customers are becoming increasingly digital, expecting real time services and are less open towards complications. The walls between different markets such as IT and telecom are becoming increasingly unclear. The development of ICT and IOT will change the everyday life for both B2B and B2C customers. This development is affecting different markets in different ways and in different pace. The telecom industry is facing a global development where competing companies are rebranding and repositioning themselves as digital service providers creating collaborations offering services stretching outside of their classical business area. Facing this development, a new digital business strategy and a new sales strategy is key to be part of the technological evolution, furthermore to be part of the next generation telecom operators. The opportunity as moving toward a position becoming a digital service provider is a strategic shift and current organizations need to be evaluated in order to form a strategy regarding how to compete and succeed in the market. This has been done in a shape of a case study performed in one of the biggest telecom operators in the world. The company chosen is one of the leaders providing both reliable and secure services with a broad product portfolio. The study, however, is concentrated towards the division of broadband and digital TV, but as the study proves, the ability to move across boundaries is becoming increasingly important. The qualitative study involves empirical research interviewing the entire chain of decision makers within the company. The results indicate that the company in question shows incentive into become a digital service provider and to advance in their digital sales strategy and digital communication towards both B2B and B2C customers. However, the company needs to advance in several crucial areas of importance to become a dynamic digital service provider. Create digital communication, extend VPs, create innovative collaborations, capex toward new core technology to move away from the price pressing business of providing a commodity. The findings of the study have implication in both theoretical and an industrial perspective. From a theoretical point of view, the findings contribute to existing research on how digitalisation affects traditional business models and how to reshape the company after increasingly digital markets and customers. From an industrial point of view, the study contributes with internal and external factors in how to address the increasingly digital market with the main areas of improvement
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Initial Business-to-Business Sales Encounters. The Impact of the Similarity-Attraction EffectDekker, Johannes J. January 2016 (has links)
During initial business-to-business encounters, salespeople try to enhance buyers’ future interaction intentions. A common belief is that increasing buyers’ similarity perceptions increases the chances of future interaction. This study assesses the impact of the similarity-attraction effect on future interaction. By synthesising social psychology and marketing literature, a conceptual framework is proposed, in which perceived similarity influences salesperson trust. This relationship is mediated by task-related and social assessments of buyers. Task-related assessments comprise willingness (benevolence and integrity) and competence (power and expertise). Social attraction is conceptualised as likeability. Salesperson trust drives anticipated future interaction, together with organisational trust and anticipated added value. The conceptual framework was empirically tested through a cross-sectional survey. Dutch professional buyers assessed recent initial sales encounters. A sample of 162 dyads was analysed, using PLS-SEM, including FIMIX segmentation. This study demonstrates support for a third willingness construct: willingness behaviour. This construct implies that buyers are more influenced by expectations regarding behaviour, than assessments of salespeople’s attitudes. A homogeneous analysis supports the influence of perceived similarity on salesperson trust, both directly and through willingness behaviour. However, model-based segmentation uncovers a segment of cost-oriented dyads and a segment of more profit-oriented dyads. In cost-oriented dyads, there is no significant direct effect between perceived similarity and salesperson trust, and willingness behaviour nearly fully mediates this relationship. In more profit-oriented dyads, the similarity-attraction effect is not present. Theoretical and methodological contributions and managerial implications of these findings are discussed.
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Competitive Advantage in B2B Marketing and Sales Through Generative AIForsell, Matilda January 2024 (has links)
Businesses are increasingly integrating AI to enhance efficiency and remain competitive; it is anticipated that AI will automate up to 50% of jobs by 2033, streamlining activities within marketing and sales teams by enhancing productivity and reducing costs (Frey & Osborne, 2017). However, the application of generative AI in the B2B sector remains underexplored, despite its potential to transform complex, interaction-heavy marketing and sales processes where salespeople are crucial in building trust and long-term relationships through demanding informational exchanges. This research investigates the application of generative AI within B2B marketing and sales operations and how it can enhance firms’ competitive advantage. Utilizing the Situated AI Framework, the study empirically evaluates the relationship between specific AI-driven activities and competitive advantage in B2B settings. Through a qualitative research approach involving three detailed case studies, this research examines the strategic utilization of generative AI, focusing on grounding, bounding, and recasting activities as defined by the framework. Findings indicate that generative AI contributes to competitive advantage by enhancing operational efficiency, improving customer engagement, and enabling strategic data-driven decision-making. Each activity within the framework appears to play a significant role in adapting generative AI technologies to align with specific firm objectives. This adaption potentially enhances more than just task automation, but also possibly contributes to a strategic enhancement of the firms’ competitive advantage. In conclusion, this study encourages further investigation to validate and expand upon the strategic applications of generative AI in B2B marketing and sales operations. Adopting a quantitative approach in future studies could provide more comprehensive insights into how grounding, bounding and recasting activities enhance competitive advantages.
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