Here are some very interesting facts about B2B e-commerce that we thought you might find intriguing. Since 2020, the B2B e-commerce channel has rapidly risen to the forefront and has replaced in-person sales as a major channel for many corporate buyers.
Despite this, a lot of B2B organizations claim that “clients aren’t ready” and that “e-commerce is an immature market for enterprises like ours.” Here are four other misconceptions about B2B e-commerce that you should be aware of.
B2B Customers Prefer In-Person Interactions
Not necessarily. When given the option, McKinsey and Company found that two-thirds of business clients choose remote or digital versus in-person engagement. Furthermore, they do this throughout the entire buying process. Overall, e-commerce has eclipsed physical stores as the most successful medium.
A Simple B2B E-Commerce Website Will Cut It
False. According to research, the majority of B2B businesses regard e-commerce as a full-service channel and direct funds to them appropriately.
While believers of this myth argue that building digital skills and handling channel conflict necessitate a “slow and steady” approach to their e-commerce build-out, the rest of the field is addressing these difficulties head-on.
Over 80% claim to hold their e-commerce channel to the same or higher standards as traditional channels. Also, it provides the same or greater levels of quality in terms of product and service availability, affordability, performance assurance, shipping and delivery, and tailored recommendations.
B2B Ecommerce is Not Offered by B2B Businesses
Incorrect. Across all industrial sectors, nearly two-thirds of B2B businesses now provide e-commerce capabilities. These are characterized as fully completing a sales transaction online. This is a rise from 53% in the beginning of 2021. Sellers have hastened their digital timelines as a result of the tremendous wave of digital adoption over the previous two years. In a noteworthy first, B2B merchants are increasingly likely to offer online channels for sales rather than in-person ones. This trend persisted even when extensive COVID vaccine rollouts allowed in-person encounters to resume.
Ecommerce Business Need To Do Everything In-House
What distinguishes your business from your competitors? Is it your product line, your brand’s unique factor, or your affordability? Or is it your order fulfillment?
Many companies are shocked to learn that fulfillment is their key competitive edge. We hear this over and over. Your fulfillment process may either propel you forward or hold you back, depending on your capacity to handle more orders, provide better customer service, lower cost prices, and other activities.
The success of your ecommerce company rides on your ability to determine which areas to do in-house and which to outsource.
Working with a business partner to meet your order fulfillment needs is the first step in freeing up time for you to focus on developing the business. Things like packaging orders are also a hassle to do in-house, which is why engaging a third-party business to handle your packing and shipping needs in addition is the way to go.
Transform Your Business with These B2B E-Commerce Trends
We’ve already established that you can improve your business through the use of a 3PL company. But are there other ways? Of course there are. Here are some of them…
- Expedient Order Filling
Fill orders as quickly as possible. Working with a reputable third-party logistics company will go a long way toward making sure your orders are filled as quickly and efficiently as possible. Of course, you have to get those orders to them in the first place, so make sure you expedite all of your consumers’ orders.
- Be a Social Media Star!
Social media platforms should be explored and used to their fullest advantage. There are a handful of social networking/social media sites in existence. Make sure you are an active member in each one of them. Here are some suggestions:
- YouTube
- TikTok
- Snapchat
- Facebook Messenger
- Selling Your Products
Across third-party online marketplaces, sell your products. One essential part of a B2B buyer’s journey is that of marketplaces. For many of them, marketplaces are where they start their product search and even find inspiration.
New customers can be attracted through third-party marketplaces. This is one of their greatest advantages. This means your business can enjoy the opportunity to test new products, reach global markets, increase sales, and more.
- Prioritization
Prioritize product information and product discovery. For today’s B2B buyers, one point of endless frustration is that of finding the products they want while trying to shop online. What’s more, being supplied with up-to-date information is still a problem, even when they find the product or products they’re looking for. With PIM (product information management) software, you can tackle this issue. With it, across various channels, you can enrich, manage, collect, and distribute product information.
Also consider using a “chat” feature on your website to help answer consumer inquiries.
- Personalization Is Key
Your consumer’s online shopping experience should be personalized. In fact, when searching for online suppliers to build a relationship with, improved personalization was identified by about half of B2B buyers as being a key feature.
- Embrace Technology
In e-commerce platform technology, don’t be afraid to make an investment. It’s your digital ecosystem’s center. For a significant percentage of B2B businesses, one top priority is an investment in e-commerce platform for technology. Keep in mind, however, that all e-commerce platforms are not created equally. If a platform operates with a one-size-fits-all frame of mind, the best solution for your needs may not be found there, due to a lack of flexibility.
- What To Update
Legacy systems should be upgraded. For existing and new customers, this will help deliver a better experience. A digital transformation strategy should be developed that, rather than being guided by your technological needs, is guided by your overall business vision and goals.
Work With Alpaka for All Your Ecommerce Needs
Here at Alpaka, to ensure your total satisfaction, we work closely with you and your products with efficiency and care. We are a fulfilment service company that also specializes in excellent kitting and assembly services for your products, so you can take your ecommerce business to new heights.
Speak soon,
Al
