B2B E-commerce Trends: Characteristics for Growth
6 min read
According to Forrester, business-to-business (B2B) eCommerce transactions in the United States are anticipated to exceed $1.8 trillion by 2023. This would account for 17% of all business-to-business sales in the country.
Despite their delayed adoption of eCommerce, B2B companies are rapidly turning to digital channels to improve sales, owing to Amazon Business’s success and the shifting B2B customer demography.
The B2B Industry is Evolving
In 2015, Google discovered that millennials account for over half of all B2B purchases, nearly doubling 2012.
A company’s sales process should adapt as the “typical” B2B buyer changes.
Whereas a Gen X customer would prefer the hands-on experience that a salesperson can give, millennials want the same customized experience via simplified, digital channels.
Without any direction, merchants are left to understand the current B2B buyer’s demands.
B2B companies should thus modify the way they design and show clients their online shops. The shopping cart’s regular model is not suited to the B2Bs. The key features to prevent the failure and to develop a successful eCommerce website from your B2B are as follows:
Wholesale Purchases
B2B clients frequently place significant orders. In such instances, browsing your online catalog for all of the goods is laborious and time-consuming. You may make things easier for your customers by giving them a form to fill out for a bundled order.
When creating a group order form, make sure consumers only add goods using the component number or SKU. They should also be able to select how much of each item they want. The consumer should be sent straight to the payment page after completing the bundled order form.
Minimum Amount of Order
Another characteristic that distinguishes B2C e-commerce websites from B2B portals is setting a minimum order amount. B2B companies frequently sell items in bulk amounts exclusively. Customers must place a certain minimum order quantity for their purchase to be fulfilled.
Flexible Payments
Getting paid right away before completing an order is critical in the B2C industry. B2B businesses, on the other hand, do not work in this manner. There is a steady relationship between the company and the client, and companies frequently provide credit to their customers. Flexible payment alternatives are required when using a line of credit.
The ability to pay in a variety of ways enhances the overall user experience. While multiple payment options are useful for B2C online retailers, they are crucial for B2B businesses. While your B2B e-commerce could provide a variety of payment methods (upper dot com), be sure to include offline choices in addition to the more common ones like credit cards, transfers, and so on.
Completing the order and then allowing the client to pay for it using the order number within 30 days after the transaction’s completion is an example of an offline payment method.
Degressive Discounts for the Wholesale Purchases
B2B clients frequently purchase in large quantities. Instead of selling things commonly sold as individual items, you may offer them as packages, boxes, cartons, or even pallets in this manner. The labeling designations will simplify things for both the consumer and you. Instead of 100 separate nails, a client seeking nails may easily add them to the basket in a box.
Furthermore, based on the number of items bought, B2B companies provide varying discounts to consumers. It makes no sense to give a client who purchases ten air filters the same value as a customer who purchases 1000 air filters. Based on the quantity purchased, your online business should be ready to accept different discounts.
Customized Pricing
In contrast to the B2C portals, where all consumers pay a set price, B2B companies provide various prices – based on the customer or quantity. In comparison with smaller orders, wholesale purchases provide larger discounts.
B2B companies also provide group pricing, bulk discounts, etc., for certain items.
The correct prices for different consumers should be shown on your site. When a consumer is logged in, he or she must access the pricing based on the amount and other discounts bought.
Restricted Access
Some B2B companies limit access to their online storefronts to pre-registered consumers or resellers. If your company exclusively sells through a network of resellers, for example, your website should be set up such that only authorized resellers have access to it.
When picking an e-commerce platform, be sure it can password-protect your whole site and limit consumer access.
Non-registered consumers might also be denied access to certain portions of the site. When you restrict a site region, everyone can see the main page and product line, but only approved retailers can buy from your online store.
Improved Mobile Experience
Mobile shopping is becoming more popular. B2B consumers are increasingly seeking professional items on their mobile devices. As previously stated, over 94 % believe that they begin searching for commercial services or items on their cell phones. Mobile-friendly sites are no longer an optional feature when you provide your site on mobile. They’re necessary if you want to give your consumers the greatest possible experience.
Advanced features to look for while developing a responsive mobile e-commerce store include:
- Auto-entry enables your clicks to fill out forms using data already stored on their device. They won’t have to type in the same information repeatedly to receive basic information like name, address, email address, phone numbers, and so on.
- A clear call to action button – consumers can contact your customer care team with just one click with this button.
Make sure your site loads quickly and provides a great experience across all devices.
Advanced Payment Method
We understand that B2B orders are more difficult to complete than B2C orders. The shopping cart concept should be the most suited when the situation becomes more intricate. Your e-commerce website design company should create a site that makes it simple to pay and reduces cart abandonment.
The payment procedure should not only be straightforward, but it should also assist in remembering some important details, such as:
- Customers must be allowed to move their shipping charges to the accounts of their delivery partners (such as FedEx, USP, and others).
- Customers must be able to see payment details from prior orders.
- They must be able to pay for orders using various payment methods, including a line of credit, a purchase request, commercial credit, and so on.
- It should be able to repeat a prior order rather than having to go through the process of researching specific goods again.
Intuitive and User-Friendly Searches
Improving the search capability of your B2B e-commerce portal is one of the greatest methods to enhance website conversion rates. Customers should be able to find what they’re looking for without having to look through your whole product catalog.
You’ll need more than a search bar on your website to make it user-friendly and accessible. Here are a few new search tools to add to your website:
- Customers should use search filters to find a product or improve default search results based on factors like product size, color, and availability.
- Long-haul searches — your e-commerce site must be capable of handling and interpreting long-trailed semantic searches. Studies demonstrate that using a semantic approach rather than research reduces dropout rates considerably (40 % to 2%).
- Automatic entry: It may appear to be a little function, it has a significant influence. Auto-entry saves customers time and encourages them to purchase items they would not have considered previously.
Conclusion
It is not realistic to build a successful B2B e-commerce store overnight. To ensure that it performs the way you want it to, you must pick the proper platform and give sophisticated and additional services to your clients.
While this list of B2B e-commerce themes is necessary for your company to stand out from the crowd, some of them may not be relevant to your sector. Choose a respected B2B platform solution that knows your industry and can provide you with the finest solution.
Binary Blogger has spent 20 years in the Information Security space currently providing security solutions and evangelism to clients. From early web application programming, system administration, senior management to enterprise consulting I provide practical security analysis and solutions to help companies and individuals figure out HOW to be secure every day.
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