Small B2B companies must not be afraid to invest in digital technology- because it can lead directly to new business opportunities- according to a recently published paper from Professor Margherita Pagani of emlyon Business School.
Pagani, and colleague Catherine Pardo, interviewed digital marketing managers from B2B companies across five different industries and found that, despite it being initially costly, there are significant ways small businesses can benefit from digital transformation.
The key finding is that, aside from the opportunity to improve internal processes and co-ordination through things like introducing a cloud-based CRM system, digitization can help small businesses to connect with companies and suppliers they otherwise would not have encountered.
This, in turn could create new business relationships, encouraging knowledge sharing and potentially new business activities.
Professor Pagani says ‘Traditional B2B is often considered as lagging behind B2C as an arena for digital changes and innovations, with many being reluctant to apply digital technologies. People generally don’t like change, but small B2B companies must not be afraid of committing to digitization, as the benefits they can reap make it absolutely worthwhile’.