OmniChannel B2B Commerce: Insights from Paul do Forno

The Hard Truth About B2B eCommerce podcast continues with a special episode where co-hosts Isaiah Bollinger, CEO of Trellis, and Timothy Peterson, President & COO of Speir Digital, Inc, are welcoming back Paul do Forno, Managing Director of Deloitte Digital, to talk about the unique challenges that set B2B apart from B2C and the digital metamorphosis it demands.

Paul do Forno has spent three decades in technology as a developer, consultant, and eCommerce expert. He is now the Managing Director and eCommerce practice leader of Deloitte Digital. We discuss the evolution of B2B eCommerce and why it now requires an omnichannel approach. B2B eCommerce is now driving higher valuations on Wall Street, and as Paul said, where the money goes, everyone will follow. B2B eCommerce will not only become necessary to improve customer experience but also to get stay relevant with investors.

Insights & Takeaways

In the ever-evolving realm of business-to-business commerce, change is a constant, and the implications of digital transformation are profound. Paul De Forno, a renowned B2B commerce expert, offers valuable insights into this transformation journey and how companies can navigate it effectively. Buckle up for a journey through the intricacies of B2B digitization.

1. B2B’s Transformational Journey: Wall Street’s growing attention to B2B eCommerce indicates its transformative potential, with businesses achieving growth and increased corporate value through digitization.
2. CEO-Driven Digital Evolution: With a stronger focus from Wall Street on digitization, CEOs are now at the forefront of driving digital transformation, directly influencing business valuations.
3. B2B vs. B2C Differences: B2B eCommerce extends beyond mere online selling; it’s about managing intricate relationships and deep industry processes.
4. $17 Trillion Opportunity: A large portion of the massive B2B payments in the U.S. still involves manual processes, signifying vast potential for automation.
5. The Need for Omnichannel: Paul stresses an “Omnichannel B2B Commerce” mindset, advocating a broader perspective on B2B interactions.

Watch the Full Conversation on YouTube:

Even More Insights:

1. Voice of the Customer: B2B buyers value simplicity and efficiency, emphasizing that businesses should be “easy to do business with.”
2. Generational Shift: A digitally native generation is taking the lead in B2B, promoting proactive digital transformation.
3. Smaller Companies’ Challenge: While agility is their strength, they must also prioritize and invest in digitization to stay competitive.
4. Segmentation and Strategy: Approach to B2B digitization should resonate with the specific customer segments being served.
5. Product Experience: Transition from paper catalogs to dynamic digital product experiences for better customer engagement.

Connecting with Paul De Forno:

Paul can be reached on Twitter (@dofornop) and LinkedIn. He is deeply passionate about assisting businesses in navigating the intricacies of B2B commerce.

Conclusion

As the echoes of Paul Do Forno’s insights reverberate, one fact stands tall—digitization is not merely a buzzword; it’s a transformative force reshaping the future of B2B commerce. This digital voyage has several waypoints, each shedding light on a unique facet of this paradigm shift.

From Wall Street’s newfound interest in measuring digital maturity to the shifting leadership landscape driven by a digital-native generation, the message is clear—B2B companies must align with these transformative currents to stay afloat.

Moreover, Paul’s emphasis on segmentation strategies, embracing the concept of “Omnichannel B2B Commerce,” and the nuances of product experience management lays out a comprehensive roadmap. It’s a journey that, when undertaken with precision, can lead B2B companies to new heights in value, competitiveness, and market resilience.

In the digital age, businesses must reimagine their customer interactions, be it through specialized marketplaces or a dedicated Commerce engine. The digitization of sales and the potential for new titles like “Chief Sales Digital Officer” hint at the dynamic future awaiting B2B commerce.

The resounding message is this: B2B digitization is not just about staying relevant; it’s about writing a success story, where companies grasp the nuances of their industry, evolve with their clients, and seize the immense potential lying within the $17 trillion B2B payments market. The impact of B2B eCommerce on corporate worth is not a theoretical concept but a tangible reality, as evidenced by the remarkable $150-200 million increase in a chemical company’s valuation.

Digitization is not just a trend—it’s a transformation that holds the key to long-term success and growth. To navigate these shifting tides effectively, connect with Paul De Forno, a passionate navigator of the complexities of B2B commerce, who can guide you to new horizons.

Full Episode on YouTube

For more insights and a complete conversation, watch us on YouTube:

This podcast’s origin story

In a podcast landscape dominated by B2C content on platforms such as Spotify and Apple Podcasts, we identified a gap in B2B eCommerce. B2B and B2C eCommerce may share similarities, but they have distinct requirements. Acknowledging the intricacies and marketing obstacles of B2B, we embarked on this podcast journey.

We delve into the intricacies of B2B eCommerce, addressing integration, adoption, platforms, data, and more, unveiling the complexities that challenge its success. In contrast to B2C, B2B lacks a robust community, which we are cultivating. While platforms like Magento and Shopify thrive in B2C, B2B demands a fresh perspective. As experts, our goal is to redefine online sales strategies through this podcast.

The first podcast examines major trends around B2B eCommerce as well as answering all of the above questions.  Take a listen for yourself and let us know what you think!

We will be posting new episodes with special guests weekly. You can listen on our dedicated podcast website and download the podcast on all major channels: Apple Podcasts, Spotify, Google Podcasts, Stitcher, TuneIn, Overcast, Pocket Cast, Castro, Castbox, Podchaser, Podcast Addict, Deezer, Listen Notes, and RSS Feed.