Chemical companies that enhance their digital B2B capabilities will be in a better position to adapt to a changing competitive landscape. They can take advantage of several important opportunities, including deeper and stronger customer relationships, streamlining lead qualifications, and extending company reach.
New distribution channels make it possible to reach more customers with a wider range of products than was previously available. New producers and sellers can take advantage of emerging distribution channels to transcend geographic proximity, leading to an increasingly fragmented producer market that is no longer limited by the scarcity of shelf space.
Today, technological advances in the form of platforms and digital distribution channels are creating even more direct links between buyers, sellers, and producers. The resulting cost structure is such that a significantly broader product array can be offered to a significantly larger audience.
In addition to increasing revenues, digitalization allows transactions to happen a lot more quickly and efficiently. We all know that time equals money and if you think of a transaction that is being conducted between two entities on two different sides of the globe in different time zones, speaking different languages, it can take up to a week to finally get all the information that is needed to conduct a transaction.
What if we could convince you that in some cases, that amount of time can be brought down to one minute? Wouldn’t that be interesting for business?