If you think B2C organizations are the only ones that need to pay close attention to ecommerce as they market their products and services, think again. Maximizing the use of technology to deliver better customer experiences—and ultimately better sales results—is part of an omnichannel ecommerce approach. And an omnichannel approach? It’s essential no matter what customer base you’re targeting.
B2B companies are struggling with this, in part because they haven’t yet mapped the evolution of B2B eCommerce as it relates to the needs of their respective consumer bases. For a market with a 7.3 percent average conversion rate and a projected value of 12 trillion in worldwide sales by 2020, this issue is one your B2B business clearly can’t afford to ignore.
So what has changed in the world of B2B eCommerce? With the rapid evolution of technology in the last five to ten years, a better question would be what hasn’t changed. Thanks to the web, combined with the ubiquity of mobile devices, B2B buyers are more empowered than ever before, and they’re driving their purchasing journeys like never before. That’s led to the bar being higher for B2B companies as it relates to user experience (UX), search, social, and everything in between. When you add to the equation that more than a few of these buyers are uber-connected and tech-savvy Millennials, and ecommerce is no longer business as usual—it’s a whole new ball game.
So how can your business get, and stay, ahead? Consider taking a page from the B2C market’s playbook, harnessing the power of innovative technologies like cloud and data analytics management platforms. Now, don’t get us wrong—most B2B companies have long boarded the cloud and data trains, but applying that insight to ecommerce via an omnichannel approach is a different story. Are you doing all you can?
Want to know more? Pop over to our sister site, V3B, where we’ve tackled the subject of B2B ecommerce and broken down what it takes to stay ahead in a space that’s become increasingly customer-centric and mobile-first: Read: The Evolution of B2B eCommerce: What it Means for Your Business