10/03/2023
The traditional B2B relationship between buyers and
sellers has been slowly changing in the last few years,
but only when the pandemic hit did the buyer/seller
dynamics dramatically transform. Customer behavior
was forced to change; instead of in-person meetings
or events, interactions pivoted to video calls, online
chat and eCommerce. 83% of B2B buyers now prefer
ordering or paying through digital commerce.
Other factors come into play, such as the increased number of digitally-native
Generation Z entering the workforce and millennials taking decision-making positions.
B2B buyers are also consumers exposed to sophisticated eCommerce experiences in
their personal lives, raising expectations that, when purchasing items on behalf of their
employers, they can do so in a frictionless and personalized fashion. These consumer-like expectations are at the heart of B2B commerce and how
manufacturers, distributors, wholesalers and other B2B sellers will shape their
customer experiences — online and offline.
B2C-like experiences, B2B-specific features
As 74% of millennial B2B buyers switched vendors for improved consumer-like
experiences, it’s clear that B2B buyers expect to find engaging experiences when
interacting with a B2B online shop, from product discovery to loyalty: • Easy-to-navigate product catalog
• Search options
• Inspirational content
• Shopping lists
• Payment options, e.g., credit card, invoices, punchout, etc.
• Personalized functions, including recommendations
• Fast loading and high-performing digital storefronts However, a pure B2C-like approach doesn’t work if B2B-specific features aren’t part of
the deal. B2Bs operate differently than business-to-consumer companies, and certain
functions like reordering and order scheduling are crucial to managing inventory,
for example. At the same time, not every fancy feature would make sense; therefore,
talking to customers and discovering their challenges is crucial to shaping digital
journeys.
Building a B2B customer-centric commerce experience at Mars, Inc.
Mars is best known for brands like M&Ms, Skittles and
Snickers, offering a wide array of products to consumers
and businesses alike. In B2B sales, the ice cream unit
faced frequent customer complaints about the ordering
process, which led to an overhaul of the digital sales
journey. In 90 days, the Mars team created a prototype
delivering what customers asked for: Easy-to-use
information about products, pricing and order status
that mimicked a B2C-like experience, plus the B2B
specific features such as requisition lists, the ability
to reorder easily, ship to multiple warehouses and
schedule orders.
Personalization
Deep personalization has been the bread and butter of traditional B2B sales, with oneto-one communication throughout the sales cycle up to closing the deal. However,
with eCommerce performing a more significant sales role, how can these personalized
interactions be carried through the entire digital shopping journey? After all, 73% of
B2B buyers want a personalized B2C-like experience.
With customer analytics powered by Artificial Intelligence (AI) and Machine Learning
(ML), B2B firms can craft omnichannel, customer-centric and personalized experiences
similar to B2C. These tools can identify the customers' identities and interests by
tracking their viewed pages and shopping lists, keeping track of past orders, providing
custom content, etc. That way, it’s possible to offer personalized experiences across
multiple touchpoints that mirror one-to-one relationships with buyers.
Omnichannel and mobile
B2B buyers used an average of five channels in 2016 and, five years later, this figure
has jumped to 10 or more. In addition to the number of channels, 94% of B2B leaders
agree that B2B omnichannel is here to stay. As B2B digital commerce evolves to a
customer-centric model, the need for consistent omnichannel experiences rises:
Beyond in-person/remote communication and eCommerce portals, many new
touchpoints have emerged to engage B2B buyers and facilitate the purchase process.
While 72% of B2B buyers are eager to purchase across channels, the trick is to define
which channels to pursue and deliver a consistent experience across them.
Moreover, with B2B mobile ordering increasing by 250% since 2020, building a
responsive mobile website and/or downloadable mobile app can streamline digital
commerce big time, such as adding a one-click checkout and a mobile-friendly
overview of a product catalog.
Exploring social commerce at Dawn Foods
B2B players are increasingly taking a page out of the
B2C playbook and leveraging social commerce as a
new touchpoint to increase sales. Dawn Foods, an
American wholesale manufacturer of baked goods,
started to explore social commerce with a “buy
button” embedded in relevant social platforms and
connected to Dawn Foods’ eCommerce via an API.
With Dawn Foods’ entire product catalog online and easily accessible from multiple touchpoints, it’s easier for
customers to find and purchase what they’re looking for. This strategy has brought fantastic results, as 25% of
all orders are now processed online with a higher average order value (AOV), as nearly all orders placed
online include products that customers haven’t bought before.
Hybrid sales
Despite the preference for digital channels — 66% of B2B buyers prefer remote
human interactions or digital self-service rather than one-to-one sales talks — B2B
buyers want a hybrid sales approach mixing in-person and digital self-service
interactions. In practice, each channel is employed at different stages of the sales
process:
• In-person sales are ideal for establishing a relationship and/or catering to high-value
customers.
• Digital self-service channels best fit the needs of existing customers for finding
and researching products and reordering, as well as being better suited for lower
transaction value and/or less complex sales.
All in all, digital channels and in-person communication complement each other and
should be used throughout the customer journey
Combining digital commerce and in-person sales at Nieuwkoop Europe
With an extensive catalog of plants for interior
landscapers, exporters, florists and green retailers
in over 40 countries, the interior landscaping leader
Nieuwkoop Europe rebooted its digital commerce
capabilities to inspire customers and make ordering
easier. Customers were delighted — and so were the
sales teams. This digital transformation means calls to
internal sales staff have reduced significantly, paving the
way for sales reps to become trusted advisors.
Get in Touch: sales@duetrade.co.uk
Request a demo
www.duetrade.co.uk
@DueTrade