The new B2B growth equation (with abstract)

Article published by McKinsey and reviewed by Nikolay Sidelnikov
The new B2B growth equation (with abstract)
Published ByArticles by McKinsey
Publish DateFebruary 23, 2022
AuthorsArun Arora, Liz Harrison, Candace Lun Plotkin, Max Magni, Jennifer Stanley
Topics B2B, Strategy, Omnichannel
Statistics
Article Sizewords
DiagramsYes
Downloadable VersionYes
Reviewers
Page OwnerNikolay Sidelnikov
Summary AuthorNikolay Sidelnikov


Abstract

The large article The new B2B growth equation by McKinsey is based on a large research that surveyed close to 3,500 decision makers in 12 markets in 2022 and over 21,000 decision makers since 2016. The research discloses real expectations of B2B buyers regarding omnichannel and explains how companies should approach these challenges. McKinsey announces that "the results are a wake-up call" for companies that assume that B2B customers are satisfied with their current omnichannel experience.

Among key conclusions of the research:

  • The more channels a sales organization provides, the bigger the market share
  • All B2B customers prefer omnichannel, no matter their industry, country, size, or customer relationship stage.
  • Customers are more willing than ever to switch suppliers to gain exceptional omnichannel experiences.
  • The new bar for omnichannel excellence is ten or more channels over three engagement modes (in-person, remote, and self-service), delivered 24/7.
  • Customers are resoundingly clear on the five capabilities they most want from omnichannel—and they want all of them, from performance guarantees to real-time customer service.

B2B companies now have a once-in-a-generation opportunity to shift share meaningfully—through greater orchestration, integration, and personalization.

The article gives a set of recommendations and explanations that would help companies to achieve omnichannel excellence:

  • The great rebalancing: From channel spikes to omnichannel equilibrium
  • Rebalancing works: Omnichannel is more effective than traditional sales models alone
  • Outliers prove the rule of thirds works
  • There is no such thing as stasis: Omnichannel is now a ten-channel world
  • The five new must-dos to retain customer loyalty
  • Next on the list: Marketplaces are the next gen for the next-gen leaders
  • Become journey orchestrators
  • Integrate, integrate, integrate
  • Personalize everything
  • Customers are willing to spend more remotely

The article contains a lot of chart and numbers that illustrate this conclusions.

Full text: The new B2B growth equation

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