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Business Transformation Special Report 2017

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BUSINESS TRANSFORMATION RACONTEUR.NET 12 28 / 02 / 2017 'Uber's children' L ook at consumers' behaviour over the last five years – they have embraced immediate communication and instant service faster than many of the most bullish forecasters expected. From A ma zon P r ime to U ber a nd Snapchat to Deliveroo, it is t he speed of v ir t ua l or physica l deliver y t hat ha s t hr illed users in what ha s been dubbed " T he Now Economy ". While the business-to-consumer (B2C) sector has seen rapid grow th, chief ly through app-based com- panies, there could be greater po- tential in the business-to-business (B2B) market. The global B2B market in e-com- merce could be worth double the size of the B2C sector by 2020, ac- cording to Frost & Sullivan, a con- sulting firm. Robert Colville, author of The Great Acceleration: How The World Is Getting Faster, says: "I think the impulse towards speed applies just as much to B2B as to B2C, if not more so. Fast execution has be- come a mantra for companies of all kinds. And if we're increasingly impatient when waiting for friends to reply to e-mails or text messag- Constant demands of an always-on economy mean businesses must transform to meet the growing expectations of consumers GIDEON SPANIER tweets attacking car and defence companies for moving jobs outside the United States have had an in- stant eff ect on their share prices. President Trump is a maverick, but his unorthodox, free-wheel- ing approach shows how the world is changing. Companies must be willing to think, move and re- spond faster. Amelia Torode, chief strategy officer at TBWA, an advertising agency whose clients range from Airbnb to Nissan, says: "The B2B world has lagged behind the B2C THE NOW ECONOMY CUSTOMER EXPERIENCE: BUSINESS-TO-CONSUMER (B2C) COMPARED WITH BUSINESS-TO-BUSINESS (B2B) PERCENTAGE OF B2C AND B2B COMPANIES THAT ARE TAKING THE FOLLOWING ACTIONS Forrester 2015 es, how much more so when it's one of our suppliers?" Bruce Daisley, vice president of Twitter in Europe, the Middle East and Africa, agrees. "The expecta- tion that anyone has now for service levels is rising across B2B and B2C," he says, because people have be- come used to expecting information and goods as quickly as possible. Indeed, US President Donald Trump has taken a "Now Economy" approach to policy-making using Twitter to put pressure on politi- cal opponents and businesses. His Improving the online customer experience Improving cross- channel customer experiences Improving the experience of interacting with a call centre agent Improving the store/ branch customer experience Adding or improving mobile customer experiences Using communities and other types of social computing Creating a dedicated user/ customer experience group B2C B2B 67 58 59 56 46 53 35 35 43 50 42 33 34 24

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