Technology has fundamentally changed what customers expect from companies — and that includes B2B buyers. Customers want the ability to quickly research, browse, and transact — anytime, anywhere. Digital commerce makes it possible. And it’s not just buyers who benefit from digital commerce. Business sellers report reduced costs to serve, better productivity, and revenue growth among the top benefits.
B2B organizations are moving fast to implement digital channels. In fact, social media and websites are the top two channels invested in today. Why? A whopping 87% of B2B buyers say they would pay a premium for a supplier with an excellent ecommerce portal. Alternatively, 90% would turn to a competitor if a supplier’s digital channel couldn’t keep up with their needs.
Business buyers have come to expect a commerce experience that is every bit as intuitive as what they get in the retail world as consumers. It also demonstrates that because business relationships are often more complicated than retail relationships, expectations can be even higher. That’s a tall order for B2B organizations — especially in the midst of inflation and budget constraints.
The good news: With the right digital commerce strategies, you can deliver on buyer expectations without breaking the bank. By marrying data, analytics, and cloud-based commerce tools to create a digitally enabled customer experience, you’ll be able to increase revenue and loyalty, reduce the cost to serve, and drive sales team efficiency. Here’s how.