Now is the time to invest in B2B eCommerce
There has never been a better time to invest in your B2B digital solution. eCommerce is the quickest growing channel for B2B product sales, with the UK's market size valued at £300 billion in 2021, but predicted to rise to £1.7 trillion by 2030. Here, SQLI looks at 10 talking points in the industry right now.
- B2B growth through digital transformation
The B2B digital transformation story is just starting. More B2B brands like Sharp Electronics are choosing digital agencies and solutions to replace their legacy platforms. With B2B eCommerce transactions still low, there’s massive potential for growth.
- Marketplace momentum
With B2B brands exploring different sales avenues, Marketplaces are becoming popular. Smaller businesses are opting for third-party platforms like Amazon Business, while larger ones build their own platforms. While more complex to create, they can host global transactions, often incorporating negotiations and recurring orders.
- Seamless omnichannel essential
B2B buyers now prioritise multichannel engagement over face-to-face meetings. More brands like SQLI partner Bridgestone are opting for new omni-channel solutions to provide the right balance.
- Social commerce on the rise
People are spending several hours a day on social media. Now, many B2B digital brands are leveraging these platforms for direct sales to other businesses.
- Mobile friendly approach
Mobile engagement is growing quickly. Ensure your site is mobile-friendly, with product catalogues easy to access and purchases made simple. Could a mobile app make things even easier for customers?
- Chatbots helping ease the load
If you receive a large volume of enquiries, using chatbot software to handle the simple, most frequent questions is now commonplace. Customers don’t want to wait for email or telephone replies and expect quick answers when comparing products and prices.
- Future-proof with Composable Architecture
With composable architecture gaining traction in the B2C market, the fact it might suit the complex nature of B2B brands better, can be lost. By Going composable, brands can create custom digital stores using best-of-breed components.
- A greener future
Leading from the front when it comes to sustainable business practices is crucial. Could you use recycled packaging, or local suppliers? SQLI partner Sharp Electronics aims to achieve Net Zero CO2 Emissions by installing solar power systems and making all company vehicles electric.
- Manage your product information more effectively
With so many different sales channels and so much data, it’s essential to keep product information organised and consistent. A Product Information Management system (PIM) acts as central platform for this, making it easier to share internally and keep the customer experience consistent across all channels.
- Frictionless checkout experience
Blurring the lines between B2C and B2B eCommerce, offering a quick and frictionless checkout experience is crucial for customer satisfaction and repeat business.
