B2B e-commerce is booming. And as much as we don’t like to be reminded about the pandemic, it has seriously impacted the way consumers and companies do business. These developments are moving fast, but only organizations that are able to adapt will be able to reap the full benefits.
Technology is no silver bullet
Logically, more and more companies are investing in e-commerce to create a better user experience with high-quality content and differentiating functionalities. To realize e-commerce growth, it is essential to have a modern e-commerce platform where you can easily add functionality and improve the experience continuously. However, all this should be done without the website losing speed and development time and the IT department working overtime.
Technology is no silver bullet, but the strategy and approach behind them are. Your organization needs to learn how to create those digital experiences that your customers crave. That calls for bringing all your data together, creating a 360-customer view and continuously aiming to improve the customer experience day by day. So, you can make the search easier, give more payment options, show availability from your retail stores and be able to deliver your products in various, flexible ways. Delivering the optimal omnichannel experience rallies the whole organization, and often leads to a digital transformation.
B2B E-Commerce in 5 key figures
McKinsey researched B2B sales and found the following key figures:
- 10 channels. B2B buyers used ten or more channels in 2021 to interact with their suppliers. In 2016 they used five channels, in 2019 they used seven and a half channels.
- Omnichannel works. 94% of B2B decision makers find the omnichannel sales model to be the same or better compared to the model before the pandemic.
- E-commerce is preferred by suppliers. B2B companies are more likely to offer e-commerce channels than in-person channels.
- High expectations. Eight in ten B2B buyers will look for another supplier if performance guarantee, online availability or always-on customer service are missing.
- In-person contact still matters. 59% of B2B buyers will only buy from a supplier if they met in person before.
Source: B2B Pulse by McKinsey