B2B e-commerce has continued to grow with no signs of slowing down. Research has shown that e-commerce has surpassed in-person sales channels and is now a full-service channel providing excellent levels of product recommendations, product ordering and shipping services. Here are some B2B e-commerce trends that can elevate your company’s e-commerce presence.
Digitize Your Storefront
As consumers increasingly become familiar with the online retail experience, a study shows that 75% of B2B buyers will continue to use digital interactions to do business. Investing in robust B2B e-commerce platform technology is fundamental for all businesses. However, retail platforms become a challenge when companies try to integrate new technologies and update their systems on an as-needed basis. It is crucial to plan out your digital transformation roadmap and invest in the best e-commerce platforms that allow you to execute your strategy. For 35% of businesses, investing in proper e-commerce platform technology is a priority. Platforms such as NetSuite‘s Suite Commerce Advanced enable businesses to provide a fast and engaging storefront that ties in with the company’s core operations and business systems.
Personalize the Shopping Experience
B2B e-commerce is changing and 72% of business buyers expect vendors to provide personalized experiences. Investing in personalized solutions such as using real-time messaging and triggered emails can make the buying experience more efficient. Some businesses also leverage AI and machine learning to support this. Customizing your online storefront using headless commerce can make updating promotions and product information much easier. This increased flexibility allows customers to purchase complicated products online, as per their own specifications, without needing to talk to a customer service representative. However, organizations need to understand their customers’ demands to develop their sites to be flexible. Meeting customer needs can enhance the online shopping experience at every customer journey stage.
Offer Customer Self-Service
Another one of the B2B e-commerce trends is self-service. Self-service is a way in which businesses can provide customer support in a personalized manner. This includes providing an online chat on your e-commerce site, a FAQ section, or even shipping information. AI-enabled service tools such as chatbots are helpful in responding to customer queries in real-time, ensuring that your customers get the support they need quickly. In fact, AI chatbots are 87% effective at solving customer issues, making them a great extension to add to your e-commerce site.
B2B consumers typically like to do their own research and compare options available first. According to research, 67% of customers prefer to use self-service than speak to a customer service representative. Ensuring that your storefront’s self-service portals are up to date and complete is extremely important for keeping customers happy (especially for re-orders).
Integrate PIM Software
Product Information Management (PIM) is a tool that can be integrated with your current ERP or CRM software. This ensures that updating and managing your product data across multiple sales and marketing channels is efficient and streamlined. For companies that have changing product catalogs with complex information as well as dynamic sales and marketing communications, PIM software is great for storing product-specific data in large databases. PIM can store digital images and videos to ensure your products are communicated engagingly. Localized information, such as needing to have product language tailored to specific locations and regional currency, also contributes to a superior customer experience. The software enhances the omnichannel experience, increasing personalization and customer service to the next level.
Now that many companies are investing more and more into their B2B e-commerce sites, it is time for your company to take advantage of these B2B e-commerce trends to step up your strategy for 2023. From investing in a good e-commerce platform and technical tools, to personalizing the shopping experience, putting the customer experience first is key to building long-term sustainable B2B relationships and grow your company. If you need help getting started, contact Withum today to learn how we can help.
Author: Mars Lomtakul| [email protected]
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