The growth of ecommerce has had a big impact on the B2B sector. Online B2C shoppers expect the buying process to be easy and seamless, and this is spilling over into the B2B sector as well. The B2B Future Shopper Report 2021 found that a concerning amount of B2B buyers (52%) say they are frustrated with the online buying experience and a staggering 90% of them would switch to a competitor if their supplier’s digital channel couldn’t meet their needs. We all know we need to keep up with the times in order for our businesses to thrive, so in this blog we are going to look at the future of B2B ecommerce, and we hope you can use these insights to continue to grow your business in 2023 and beyond.
B2B ecommerce has really taken off in very recent years and there’s a few reasons for that:
- Businesses now have access to more technology that ever before. For example, we offer our clients bespoke B2B ecommerce software solutions, often replacing outdated legacy systems, allowing our clients to automate potential tedious tasks such as order processing and updating stock levels
- The rise of Millennials in the workforce is a key factor – this generation is very comfortable making purchases online, more so than any generation before it
- Online marketplaces have grown – sites such as Amazon have made it easier for products and suppliers to be found and purchased by businesses.
So what does the future of B2B ecommerce look like?
- Investing in future-proof B2B ecommerce systems is vital
With the above in mind is so important to invest in future-proof B2B ecommerce platforms that include stock display, real-time pricing, accounting software integration and order processing to make the entire customer journey fast and flawless. At GOb2b we offer updates to our systems free of charge for our clients and we do regular updates to keep up with emerging technology, ensuring your platform doesn’t become outdated.
This has been key in the B2C world for a while now, and now it’s spilling over into the B2B sector, where we realise that people want personalised experiences when it comes to B2B sales and marketing, just as much as they do when shopping for themselves. This is made possible with modern integrated ecommerce platforms (as mentioned above) that use AI to predict customer needs.
3. Making products easy to find
Many B2B buyers have listed finding products and up to date information as a pain point. The good news is that this can be overcome with software that includes product data features, so that your potential customers can be provided with all the product details they require to make their purchase decision easier.
4. Selling across third party marketplaces
Third party marketplaces are an essential part of the buying journey as many B2B buyers find inspiration for purchases on the likes of Amazon and eBay, and according to The Future Shopper report “20% of UK buyers actually make their purchases through Amazon Business”. At the very least, selling on marketplaces can help gain exposure for your products and for your business.
5. Leveraging social media
While social media has been dominated by the B2C sector, B2B businesses are jumping in on the action as well. A whopping 46% of B2B buyers start the beginning of their buying journey on social media. This means that it’s important to put effort into your social media channels, by creating and sharing quality content that matters to your buyers, so that you can build trust from their first interaction with your business. You can also set up shops on Instagram and Facebook, so that potential customers can browse through and even purchase your products without having to leave the apps.
We hope you found this useful and can implement some of these into your business. To future-proof your business we do highly recommend investing in a modern, integrated B2B ecommerce system. If you think it’s time to update to a bespoke ecommerce solution, that’s truly unique to your business then please get in touch with us at GOb2b.
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