U.S. business-to-business (B2B) ecommerce transactions are expected to reach $1.8 trillion by 2023. It’s not surprising that more B2B buyers want to shop online as the newest generations entering the workforce have grown up with the internet at their fingertips.
While a Gen X buyer may prefer the handheld experience that sales reps provide, millennials expect that same personalized experience through streamlined, digital channels. This, in turn, leaves merchants to interpret the modern B2B buyer’s needs and find solutions that work for their company.
First thing’s first; to find the right solution it’s important to understand current B2B trends. This will help you determine where your business is currently and where you can aim to go next.
Two of the most popular trends are:
- Growing expectations of B2B customer personalization. Business buyers are the same people who go home at night and shop online for the things they need in their personal lives. People want to be able to find the things they need, quickly and easily. By creating B2C-like experiences with on-site product content, relevant product recommendations, simple search functionality and easy navigation, you can personalize the B2B shopping experience.Many businesses are also looking at Artificial Intelligence (AI) to gain a competitive advantage with personalization. Through targeted marketing and chatbots for quick customer service, AI is helping take personalization to the next level and giving consumers a better UX.
- Marketplaces and omnichannel demands increase. The use of marketplaces in B2B is growing and, while some B2B companies may be reluctant to use these, buyer demand is growing. For buyers, marketplaces make the process easier with the ability to filter, compare prices, and other key aspects such as delivery times side by side between different suppliers. With the omnichannel trend, it’s about being where buyers are throughout the research and sales process, and B2B buyers are using up to six different channels according to McKinsey research.
Each trend comes with benefits that will take your B2B business to the next level come 2021, but will require an ecommerce solution that is flexible and adaptable enough for you to test new strategies. Finding a strong B2B solution, like BigCommerce, is extremely important in order to grow your brand easily and successfully. BigCommerce empowers your team to build sleek site designs for large catalogs with customer and pricing segmentation down to the SKU level, helps you utilize automated customer and pricing segmentation, and helps get you to where you want to be faster.
In the end, it’s a new era for manufacturing and distributing; so, request a demo with BigCommerce today and see how you can modernize your B2B business and stay on-trend.