B2B Business: Changed Forever?
A recent McKinsey survey showed what many business leaders felt intuitively: The old normal is gone forever. It will not come back even after the COVID-19 pandemic is over. Here are some statistics that show why.
These statistics are eye-opening because of the sheer numbers and because they take the blinders off for any companies that hoped things would go back to the way they were. Even use of phone conversations, which seemed invincible, is falling out of favor as people shift to videoconferencing and online chat.
Companies have adapted the ways they operate right from the start of the COVID-19 pandemic. Now that many of the changes they made are headed toward becoming permanent, companies need to think ahead and determine what they can do to keep up with customer demands.
The most important thing businesses have learned so far is that they need to be agile and resilient so they can respond to whatever is coming next. This means that the new business model, as nascent as it may be, has no room for complacency. Instead, businesses must:
Keep in mind that while B2B business is showing some signs that seem to have some stickiness, it is too soon to say what will work over the long term. The lightning pace of technological advancement we saw in the early days of the pandemic may have let up, but the market is still evolving.
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