Top ecommerce priorities for B2B sellers

Forrester research estimates that B2B ecommerce is expected to exceed $3 trillion by 2027. Needless to say, B2B ecommerce is reaching new heights. 

Buying online is now the norm. It’s no surprise that B2B decision makers have come to expect the same seamless, personalised buying experience whether they’re shopping for work or themselves.

The B2B buyer’s expectations are growing, and fast. 

B2B has always been a few steps behind B2C, especially when it comes to moving towards digital. But like any industry, the pandemic was the catalyst for change, innovation and digitalisation. 

The bottom line is that B2B companies must fast-track digital change — or be disrupted.

So what are the top priorities for B2B sellers in 2023?

Adobe Commerce and Digital Commerce 360’s survey reveals three that stand out: 

1. 41% of B2B sellers cite expanding into new markets and regions as a major challenge 
   
   B2B sellers are expanding into new markets, both in terms of geography and reaching new customer segments with added product lines, taking advantage of the global reach afforded by ecommerce.

2. 63% say they are investing in new site features such as personalisation and customisation
   
   Personalisation is a top priority, but companies are finding that customising content and purchasing options are far more complex in B2B than in B2C. Among other differences, personalisation in B2B means enabling each business buyer to do their job more efficiently, not catering to personal preferences.

3. 59% list ecommerce platforms and applications among the top three technology budget priorities for the coming year
   
   Companies are scrutinising their ecommerce platforms, weighing whether to replace them with more sophisticated systems to support digital expansion, including internationally. 

It’s no longer a question of whether B2B sellers should invest in digital, but how?

Here are a few tips from our Magento (Adobe Commerce) expert Suzie Perrott

It’s time to grow, personalise and get the most out of the ecommerce platforms. 

Focus on the customer 

Get to know your customer’s digital expectations for a digital experience. A B2B buyer can be complex. Because let’s face it, it’s not just one buyer and the journey is far from linear. If anything it’s a spaghetti bowl of craziness. 

You have to understand the needs of various user personas to create relevant workflows and personalisation features. 

For example, one customer might be a buyer at a branch location, but they might have to get approval from a corporate-level buyer. Another customer might need a quote that must flow through the sales rep who manages the account.

B2B personalisation should be smart enough to know who’s logging in. Based on this you can give your customers very specific sequences for very specific activities.

Given the large investment, organisational disruption, and time necessary to roll out ecommerce efforts, businesses that neglect the customer could risk losing out on a lot of money.

This could determine whether they sink or swim. 

Expand into new markets globally 

Magento (Adobe Commerce) is a platform that is built with an international market in mind. Everything is centralised in the Magento platform and can be monitored collectively. 

Every ecommerce professional, whether it’s B2B or B2C, has heard the same thing over and over again. Data is your best friend, use it wisely. 

Having all of this data in one place can help drive decisions forward (and fast), understand your customer behaviours which can help you reach new customers. 

Magento is able to facilitate global expansion and can easily adapt to new markets. The benefits of features such as multi-site, multi-store view, and shipping, greatly reduces the resources needed for managing and maintaining separate websites. Which means you can focus on other things that are on your plate. 

Would you like to know more about how Magento can help your B2B organisation expand into new markets? Speak to us today. 

Increase average order value (AOV)

Turnover ÷ number of orders = AOV

Increasing the AOV is one of the most effective and cost-efficient ways to increase income. So, how can you persuade your customers to buy more items and to spend more money each time they make a purchase online?

Create product recommendations on your product pages 

This is when you show other relevant accessories next to a product. 

For example, if your buyer is purchasing some wooden fence, they will need nails, a hammer, some posts and paint. So it’s important to make these items as easy as possible to purchase or you might be losing out on some easy money (and dare I say it, they may even go to a competitor for the items). 

Reward them for spending more 

An effective way to get your buyers to spend more in one order is to stimulate extra purchases. Examples of this could be in the form of a voucher or incentive and on the other hand with an indirect reward in the first instance, by awarding value points and saving up for a free product or discount.

Is it time to take a look at your B2B ecommerce strategy? 

We’ve worked with several clients that are rethinking their strategies and approach. It can depend on your maturity, current and future plans, capability and skill of your team. If you’d like a chat about how to make the shift strategically, operationally or executionally, then just reach out.