B2B buyers spend more when buying online. If you give them what they need.
Find out what B2B buyers expect from you.
You moved your B2B business online. Now what?
Most B2B companies have moved their business online. B2B sellers are seeing a significant volume ofthe business move from offline to online. And that will continue to increase in the next few years. The costs of serving customers decrease by migrating them online.
But there’s still a gap between what they offer and what their customers need. Businesses struggle to meet expectations because they rely on outdated, inflexible systems.
They’re losing customers to competitors that provide robust eCommerce capabilities.
Setting up a website isn’t the only thing you need to make your customers happy.
Your business has to go beyond traditional eCommerce tools. You have to understand your customer's expectations, buying habits and preferences .
Different industries have their own problems with to eCommerce
Many B2B businesses still rely on outdated commerce systems. They have a hard time meeting the needs of their buyers. The processes are mainly manual (sales reps, faxes or inflexible). And they limit the potential of the digital to make an impact on revenue.
The pressure for the use of digital channels is increasing. But there's a disconnect in investment priorities for B2B companies. Most fail to integrate customer information with eCommerce technology. There’s a gap between what they can offer and what buyers demand.
There are pain points for businesses they still have to overcome. Commerce system pain points made businesses miss out on revenue and sales:
70% lost a deal
31% missed out on at least $2M in sales
In addition to their pain points, businesses lose deals because of customers pain points.
They also lost business deals because of:
39% lack of order documentation in their platforms
35% site can’t support promotional discounts and promotions
This is visible across industries: manufacturing, retail, healthcare, and software. They all face problems with eCommerce.
The B2B retail industry has the advantage with their mobile and user-friendly offers. But can’t keep up with complex capabilities (guided selling, multiple store orders).
The manufacturing industry is better at accommodating B2B complexities. Yet, they can’t lower costs.
For healthcare and software, there are unique challenges. They have complex products and relationships with customers.
Even with different issues, B2B businesses still have the same pain points. The biggest being:
35% Can’t provide a seamless, omnichannel customer experience
31% Gaining a holistic view of the customer
30% Effectively using commerce data
28% Employee IT knowledge for platform management
What B2B customers want?
Today’s B2B customers expect a modern eCommerce experience. And they’ll remain loyal to the businesses that offer it.
B2B buyers want what’s more advantageous for them:
55% Mobile access
52% Convenient payment processes
50% Advanced payment features
44% Customised pricing
38% Quick connection to a sales rep
36% Guided selling
B2B customers expect more complex features from eCommerce systems.
There’s a gap between customer expectations and current offerings. Buyers want more advanced and personalised features. Businesses can’t provide them.
This is because they don’t integrate their systems with customer information. They also rely on outdated platforms.
83% of B2B buyers will spend more on suppliers who offer a robust eCommerce experience.
Nine out of ten procurement officers (89%) are buying more online now then they did last year.
97% say a customer portal is a critical factor when choosing a supplier.
Buyers spend more overall when interacting with multiple channels. They’re also more likely to become a repeat and long-term customers.
What can you do to meet yourcustomer's expectations?
To put in place an eCommerce experience you need flexible architectures. You can adjust your strategy based on customer needs.
You need to make fast adjustments to your strategy based on customer needs. Amazon evolves faster than most. 65% of B2B buyers make their purchases in Amazon because of their digital offerings.
B2B buyers search for products online on Google and Amazon. Only 15% will visit your website and 6% will pick up yourcatalogue .
If your website doesn’t offer the content they’re looking for, they’ll go elsewhere.
Quality content gives the confidence your customers need to make purchases. Which gives your business the advantage.
Make your customers feel more confident in buying your products. Give them rich and relevant content and improve your competitiveness. Provide buyers with the information they need to make informed decisions. Images, detailed product specifications, videos and use cases.
If your site gives buyers the information they need, you’ll win them over.
You already have the tools. Now you have to use them.
To offer thepersonalised features your customers expect, integrate eCommerce with customer data.
B2B businesses have to put the customer as the focus of the eCommerce experience. A CRM that does that, is exactly what you need. A solution to help you understand your customers' needs and how to make it happen.
But, it seems businesses aren't using CRM information to their advantage. Only 27% of businesses have CRM and eCommerce integrated.
They treat eCommerce as a separate channel. Still, the businesses going for a more integrated approach are seeing advantages.
Not only that, companies rely on outdated eCommerce systems.
More than half of the surveyed made updates to their systems more than two years ago.
Here are four things you need to do:
1. Find a system that is easy to adapt to changing ordering needs. From multi-accounting ordering to walleting .
2. Connect your CRM and eCommerce platforms. Everything you need to help them make informed decisions.
3. Offer personalised promotions, customised pricing, order and browsing history.
4. Invest in systems that don’t need a lot of maintenance or technical labour to work. This will improve the sales process and reduce costs.
Customers can self-serve: access information they need and get personalised pricing and promotions.
You’ll spend less on enhancing customer engagement and lowering errors.
Your eCommerce platform and strategy have to be agile. Your business needs meet customer expectations. You need enhanced customer insights and analytics to understand their feedback. Invest in actual customer needs, not on a “build it and they will come” approach.