COVID-19 has massively changed the B2B market

The coronavirus is forcing B2B buyers and sellers to go digital en masse. What started as a crisis response has evolved into the new normality. Leading to major implications for how buyers and sellers conduct business in the future. Recent research from McKinsey shows that the shift to digital is here to stay.

The B2B market prefers the new digital landscape.

More than three-quarters of buyers and sellers have said they prefer digital self-service and remote human assistance over face-to-face interactions. A sentiment, that has become more prominent after the global lockdowns last summer.

Safety is one of the core reasons for this shift. Self-service and external interactions have made it easier for buyers to get information, place orders, arrange services and customers have enjoyed the speed and convenience. Only 20% of B2B buyers say they want to return to face to face purchasing. Even in the Pharmaceuticals and Medical industries where the field sales model has traditionally dominated, there has been a notable switch.

The shift to the digital marketplace and digital customer engagement is being embraced by decision-makers in all countries surveyed worldwide. B2B companies are no longer “forced” to adopt digital methods in response to the global lockdowns, but are now convinced that digital practice is the way to go.

Implications for Affiliate Marketing

The shift to digital dependence in the B2B world, goes hand in hand with the demand for online visibility. Online marketing channels play an increasingly important role in this, in which affiliate marketing is essential. The need to discover the right prospects grows as more companies make this shift. However, when more players enter the market competition increases. The effective use of online marketing must ensure that companies stand out to the right potential partners.

Feel free to contact your Account Manager to discuss how affiliate marketing can be used to stand out online.