B2B selling comes in various forms, from wholesale, selling to resellers, chain retailers’ distributors, and selling to various organisations. More companies are now venturing into the B2B market. For example, Amazon is already into it, and it is projected that its B2B revenue will be higher than what it generates in B2C.
Similar to B2C, the B2B industry has various ecommerce tools at its disposal. Although they may have features that B2C applications use, most of the functionalities of a B2B ecommerce solution, like the platform available from b2b.store, are industry-specific.
Understanding the persona of B2B ecommerce buyers
Before we discuss the trends, it is essential to understand the modern B2B ecommerce buyers’ persona. Their behaviour affects today’s B2B ecommerce trends. B2B buyers make a plan to buy specific products. They do plenty of research and different studies on the subject conclude that a B2B buyer does an average of 12 searches before they contact a specific brand. It is vital, therefore, to ensure that your B2B website is friendly to B2B buyers. Ensuring that you have an optimised search box and simple and smart site navigation will help.
B2B buyers are often loyal customers because the sales cycles are longer and more complex. They usually maintain an extended business relationship with a supplier. Shipping and payment systems are more complex in this sector.
The majority of the B2B ecommerce buyers today are millennials and they are more independent than baby boomer or Gen X buyers. Because they are adept at online research before arriving at a decision, a B2B organisation must have a highly accessible and informative website. They recognise the importance of sales-rep-in-person, but they do prefer to do some of the selection and buying processes on their own.
B2B ecommerce trends
The B2B sector is evolving, and many are engaging in ecommerce to increase their revenue and reach more customers, both domestically and internationally. The B2B market is becoming more dynamic, and trends are affecting their conduct of business.
Customer service is important to B2B ecommerce companies, and most clients prefer 24/7 customer support. Using chatbots improve customer experience because they reduce waiting time. Chatbots are programmed to quickly find the required information.
Augmented reality and virtual reality
One of the growing trends in B2B ecommerce is using AR. With augmented reality, customers can have a deeper understanding of the products via an interactive, visual experience. AR allows customers to view products and how they look in the real world, display products in 3D, and instruct customers on using the product. Virtual reality on the other hand can instruct customers on how to configure the product virtually before they can handle the actual product.
Configure, price and quote technology (CPQ)
The requirements of B2B users are complicated and organisations require smarter tools to understand difficult orders. With the CPQ technology, the process will become easier by handling complex products and providing the right price at the right time. The tool uses the company’s product catalogues, customer information, and purchase history. Integrating it with a voice assistant will enhance the shopping experience.
Check which of the trends you can apply to your organisation and find the right solution provider so you can ensure proper implementation of the technology.