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3 Ways That Technology Has Promoted The Market Change From B2B To B2H

How technology is changing the market

8May

The trends in the business world are slowly changing with the B2H taking over the popular B2B and B2C. Human Capital Management and Customer service remain the essential applications for all businesses regardless of the service that they provide. B2H has helped companies in building amazing client experiences using a simple technology, which serves as a value delivery mechanism. The business to human relationship comes in handy in creating a closer connection with every client in business, which in turn helps in building a remarkable personal experience.

Understanding B2H

Consumer marketers in the past paid much attention to nurturing business-to-business as well as business-to-consumer relationships. However, there has been a market shift where business owners now aim at developing more personalized interactions with humans. The integrated approach that stops business owners from seeing the clients as characters but as individuals is what we refer as B2H. While the bots and automation software can perform all the managerial and logistics data functions, they cannot compete with humans on creativity and empathy.

The Future of B2H and Employment

Businesses are facing a major problem when it comes to finding employees who are ready to work on long term basis, contribute to growth, and maintain a competitive end of their business. Millennials make up 25% of the workforce presently, and there is an expectation of a further rise to 75% by 2025. However, the Millennials are very hard to please with their job retention period going for less than three years. This means that the old paradigms may not work with them hence the need to devise better ways to improve the employee and customer satisfaction.

Technology and B2H

Technology integrates digital experiences with client's physical world creating individual experiences for them. This means that the traditional B2B methods no longer help in creating a deeper connection between the businesses and the individuals, but B2H does. Technological advancement has especially helped in data scraping -- which is the extraction of data from websites which can be used to analyze trends, patterns, and consumer behavior and is essential for B2H. Some of the ways that technology has been of use in promoting the B2H in business include:

1) Live Streaming

Some social media platforms like Facebook, Snapchat, and Instagram have added features that allow users to go live and provide more real-time experiences. Implementation of this feature by most brands will help them in the real-time interaction and create a better connection between the businesses and the buyers. Going live creates a sense of accountability, commitment, and responsibility to the customers, which gives an assurance of excellent service delivery.

2) Immersive Experience

Virtual reality has entered the market in a booming way in 2017 with most brands offering an immersive experience to their customers. Businesses can now connect with their clients in ways that they have not experienced before. A study published in Ketchum 50+ shows that both millennials and the baby boomers have equally embraced the immersive experience. The experiences create a perfect environment for the brands to connect with their clients on one to one basis.

3) Social Media Platforms

Various social media platforms such as Viber, Whatsapp, and Facebook Messenger allow brands to communicate with the customers in a more personalized way. Additionally, applications such as WhatsApp create an excellent platform for one-on-one interactions between communities and people with a common interest.

Conclusion

Therefore, a B2H relationship is the new way of running businesses while at the same time creating an excellent human experience for the clients. A company that can incorporate the use of technology in B2H stands a higher chance of experiencing faster growths in the years to come. Every business should aim at understanding the environments that are not familiar with and speaking to their audiences on a human level.

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