As the business-to-business (B2B) sector expands, e-commerce has evolved from a nice to have to a need. The phenomenal expansion of e-commerce over the past several years has heightened the need for B2B businesses to shift their attention online.
Unsurprisingly, 42% of distributors cite constructing a more complicated website to better meet client expectations as their top challenge for the forthcoming year, according to Digital Commerce 360.
To help you stay up to date, we’ve narrowed it down and gathered the most recent B2B e-commerce trends that we think will have the most impact on your company.
B2B e-commerce statistics
B2B e-commerce is now available. According to research, global B2B marketplace, log-in portals, and B2B e-commerce platforms would produce $1.63 trillion in online sales by 2021. According to Statista, the B2B e-commerce market in North America will be valued at $4,600 billion by 2025.
E-commerce is no longer seen as a cool new channel by B2B businesses. Instead, over 65 percent of B2B enterprises across industries will only conduct business online by 2022, predicts McKinsey & Company.
Additionally, for the first time, B2Bs are now more likely to provide e-commerce than in-person transactions.
Why? because it boosts sales. The same Mckinsey & Company analysis estimates that about 18% of B2B firms’ overall sales come from e-commerce. larger than phone, email, and video conferencing combined.
Top B2B e-commerce trends for 2022
A difficult year lies ahead for B2Bs. You must comprehend the top B2B e-commerce trends that we have compiled if you want to succeed with this business model.
Delete outmoded software
Upgrading old systems will be a major issue for 36.6% of distributors in 2022. To provide a better, more B2C-like experience for your new and existing clients, you must, however, make sure you have the proper systems in place.
Unfortunately, many businesses make the mistake of just upgrading their systems when essential. Long-term, this may increase the difficulty of technological integration and put you back where you started.
Instead of concentrating exclusively on your technological needs, develop a digital transformation plan that is motivated by your overarching corporate objectives.
Put money into the e-commerce platform sector
When preparing for your digital transformation, your B2B e-commerce platform is a great place to start because it may serve as the center of your digital ecosystem. The top priority for 35% of US B2B companies is to invest in e-commerce platform technologies.
But not all e-commerce platforms are created equal. Many still serve as monoliths or “one size fits all” solutions, preventing you from choosing the one that most closely matches your needs.
On the opposite end of the spectrum, some systems do not provide B2B e-commerce functionality. Instead, they may offer a few features.
Personalize your online shopping experience
Customer spending increases by 48% when an experience is personalized, and 50% of B2B buyers highlighted higher personalization as a key feature when looking for online suppliers to form relationships with.
To create customized experiences for their customers, TYGRIS, a Big Commerce merchant, and its digital agency used a headless solution.
Along with headless commerce, several personalisation options use AI and machine learning to create consumer segments and give marketers the power to act immediately through ideas, prodded emails, automated refining, and real-time contact.
Cross-selling on several B2B online marketplaces
In the B2B purchase process, marketplaces are essential. Many B2B buyers get inspiration and start their product research on marketplaces.
Additionally, 15% of US customers and 20% of UK buyers utilize Amazon Business, one of several third-party B2B marketplaces, for their purchases.
One of the biggest aspects of third-party markets is their ability to attract new customers. This is an opportunity to test new goods, expand sales, and access global markets like the Chinese B2B platform.
Look at social media platforms
B2B organizations are increasingly keen to enter the fight. Since many of their clients are already utilizing these platforms, even though B2C companies have historically dominated social media commerce.
According to Gartner, social media is used by 46% of B2B buyers to investigate prospective solutions. However, 40% to compare possibilities, and 35% to obtain the data they need to have before making a purchase.
It’s noteworthy to note that 54% of B2Bs, according to Gartner data, have used social commerce to create an online store.
Selling and offering checkouts on social media now seems too frightening. However, you may still try B2B marketing with social media.