Today, implementing a digital commerce strategy is essential to growing B2B sales. In 2021, online sales across B2B e-commerce sites, connected portals, and marketplaces grew 17.8% to $1.63 billion. According to Gartner research , there is no slowdown.
B2B companies that offer B2B commerce solutions will increase their revenue by 30% compared to their competitors according to this same study.
To achieve these results, B2B companies must adopt an omnichannel approach. This means that customers can enjoy the same quality of interaction and experience across all sales channels. No more companies where to order you have to go through the salesperson, then call the telemarketer once the account is created!
This helps retain customers, attract new buyers, and drive ecommerce sales growth predicted by 85 sellers in the Digital Commerce 360 2022 B2B Seller Survey.
We will present to you the elements that you should take into account to help you develop your B2B e-commerce or sales strategy via a B2B order portal .
Mimic the experience of a B2C transaction in B2B
The study by Pymnts, a famous media specialist in payment and retail, showed that placing products in the basket and making it easier to reach the basket can drastically reduce cart abandonment on a professional order. While this helps reduce checkout times, the purchasing process is only the beginning when looking to engage buyers through a comprehensive integrated payments strategy.
For B2B businesses of all sizes, integrated credit card payments help ensure a seamless and faster payment experience for business buyers. No need to then have to make a payment via their banking interface when you know that payment by bank transfer can take a very long time due to multiple security options. Manufacturers and distributors working in btob can thus improve their cash flow, build customer loyalty and save money.
Here are some factors to consider when developing a B2B commerce strategy, such as that the purchasing process can help reduce payment times, but when it comes to attracting buyers you also need a seamless purchasing experience with access to the simplified b2b ordering portal.
Easier payment with banking app integration
For rare or one-time buyers, it may be enough to offer a credit card payment option. Instead of simply placing an order, you offer your customer the option of paying directly by credit card via the application of their choice, Stripe, Paypal, your bank, etc.
Your professional customer will save time because they will not have to re-enter the invoice later via their banking application or give the invoice to an accountant for payment. For small businesses this can be a significant time saver at all levels and simplicity in terms of accounting management . You can even imagine making a reduction on the basket for any cash payment and thus improve your cash flow
There is also payment in installments, commonly used in B2C, however, for many B2B companies, payment in installments remains anecdotal for current purchases, but new companies are launching payment services in 3x, 4x without fees for b2b payment, a subject that we will discuss shortly.
Understanding the loyalty needs of B2B customers
Competition is fierce, and B2B customers actively look for another provider when their core needs aren't met. According to a recent McKinsey study , B2B decision makers surveyed must have a performance guarantee, including a full refund if a certain level of performance is not met, in order to maintain brand loyalty.
Additionally, shoppers also want real-time, 24/7 customer service, online product availability and pricing, and a consistent shopping experience across all channels. To understand these brand loyalty metrics, it's important to talk openly with buyers and carefully monitor purchasing trends. On these requests it is complicated when you are an SME to respond to customer service at the level of certain large companies but for this there are fairly simple ways to provide satisfactory customer service. As an example we will simply take the use of chat which once configured to allow direct access to your employees during the desired hours and otherwise indicate to your customer that they will be contacted as soon as possible.
Let's start with the specific case of creating a new communication channel thanks to B2B e-commerce, you are a meat wholesaler who promotes products every Monday, but you don't know how to inform your customers of these promotions .
Setting up a B2B e-commerce website can be very useful because you can easily and quickly inform your customers about news, promotions, etc. This way, your customers are easier to find and more attracted to order your products, your emails, your newsletter, your entire promotional page, etc.
In short, at Huggii les Bons Tuyaux du web, we are convinced that the advent of B2B e-commerce is only just beginning, with a purchasing experience that is increasingly appreciated and highlighted. Especially since this could go beyond B2C, because the customization challenges of the b2b market will encourage players to innovate. This is good because B2B decision-makers will raise their standards by expecting an ever more fluid, simple and precise experience.
Keep in mind that sales channels must also rely on a mobile interface to succeed, we also have an article on this subject.
Still, according to McKinsey, B2B sales through mobile apps increased by 250% during the pandemic. Therefore, do not hesitate to diversify the solutions intended to promote dialogue, in other words Chat and messaging both stand out as channels to improve the responsiveness of a company to buyers who demand proximity, agility and ever more reactivity.