Team Madcraft
The future of B2B business is evolving rapidly—and it’s all going digital.
Traditionally, B2B has been a slow-moving industry, but as people become more and more tuned into and reliant on digital, B2B is being swept right along.
Just a few years ago, more than 60% of B2B companies had limited or no eCommerce capabilities. Fast forward to today, and B2B eCommerce is transforming the way businesses connect, with Gartner predicting that by 2025, 80% of sales interactions between suppliers and buyers will happen through digital channels.
So how can your business keep up with this emerging change, or even get ahead of it? You’re in good company if you’re asking these questions. Let’s dive into why B2B eCommerce is a hot topic this year, and how your organization can start making moves in the right direction.
B2B companies that adopt hybrid sales, omnichannel marketing strategies, and personalized commerce are seeing market share growth of over 10%. It’s no wonder 77% of B2B companies consider digital transformation critical to their success.
From a user perspective, 57% of B2B buyers say a manufacturer’s eCommerce site is their preferred choice for purchasing—outperforming even Amazon Business. This means there’s a tremendous opportunity to connect directly with customers and foster long-term relationships through a strong B2B eCommerce platform. And according to Statista, the North American B2B eCommerce market is expected to surpass $4,600 billion by 2025.
Starting your digital transformation journey can feel daunting, but it’s all about centering the user. The more seamless and enjoyable the experience you offer, the more likely your customers are to buy from you, recommend your platform, and remain loyal—ultimately boosting their lifetime value as customers. Here are some key steps to consider.
Begin by considering your buyer’s needs and mapping out their current journey from their first interaction to the final purchase. Put yourself in their shoes: Does the process feel straightforward or confusing? Is essential information easy to find? Identifying and addressing gaps will help you create a smoother and more satisfying user experience, and understand where your current set-up – whether that’s digital or not – underserves your users. This is where your opportunities for growth lie.
Ask yourself: What digital touchpoints does your business have with customers, and do your backend processes support them? This is a crucial step to ensure your eCommerce platform meets customer needs efficiently.
Does your current technology stack enable your business to meet your buyers’ needs? Are your staff able to manage backend processes efficiently? Many B2B companies find that their tech stack doesn’t serve them as well as they would like. In fact, 60% of B2B sellers reported in 2023 that they plan to switch platforms within 24 months. If your current system is holding you back, you’re definitely not alone.
Many B2B organizations only upgrade technology as needed, missing out on the benefits of a comprehensive digital transformation. This approach can lead to technical issues with future integrations, internal resistance to piecemeal changes, and always feeling a step behind.
Wherever you are on your B2B eCommerce journey, these are two key considerations that will help minimize headaches, and ensure your eCommerce platform is designed and built for growth.
Choosing the right eCommerce and ERP platforms is a game-changer. This step requires in-depth research, and you might want to bring in a technology partner to help explore your options. Many companies today are turning to modern, cloud-based ERP solutions that integrate seamlessly with their B2B eCommerce platforms. This integration can significantly reduce operational headaches. Solutions like BigCommerce are popular, but there are many options that might be a good fit for your specific strategy and needs.
By changing platforms with your users’ needs and operational efficiency in mind – from order fulfillment, product information availability, customer relationship management, logistics and more – you can avoid slow changes that interfere with one another, and embrace long-term solutions that will serve your business into the future.
Omnichannel commerce is all about providing a consistent, superior experience across all customer touchpoints—whether they’re shopping online, on mobile, or in-store.
Personalization is the key to building strong customer relationships and brand loyalty. It’s what sets your business apart from competitors like Amazon Business. Consider incorporating individualized pricing, personalized product recommendations based on user behavior, triggered emails, real-time messaging, and detailed customer portals.
With the right strategy, technology, and focus on user experience, your B2B business can thrive in the evolving world of eCommerce. The future is digital—let’s get started!
