The B2B eCommerce landscape has been permanently altered by the pandemic crisis response in 2020. We have seen unprecedented shifts in buyers’ behavior and seller strategies since. The changes are quite impactful in the B2B market.
As we move into 2022, the industry has witnessed the emergence of several game-changing trends like faster-fulfilled orders, customer self-service, and personalized experiences.
However, that’s just the beginning! In 2023, the B2B landscape is poised for even more disruption, as it embraces key strategies from the B2C world. These trends will shape the future of B2B commerce, empowering business leaders to deliver seamless, customer-centric experiences.
Let’s move further in the blog to learn these trends in detail.
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B2B eCommerce Trends To Look For in 2023
eCommerce has evolved beyond being just an online presence for businesses. It is now delivering substantial long-term benefits to customers. Customers are now expecting more personalization and a better experience in their purchase journey. Therefore, to stay ahead of the competition and fulfill customer expectations, it is essential to take note of these five trends.
B2B customers usually use multiple channels during their buying process. This increases the necessity for B2B companies to create a consistent omnichannel presence and engage their customers seamlessly between different channels.
If you plan to adopt an omnichannel B2B eCommerce platform, start by identifying the channels with the most active target audience. Also, ensure to close the gap between offline and online so that you can deliver a completely integrated experience.
Customers want a similar experience while browsing one of your social media platforms or visiting your website. It will help you meet your customer expectations as well as help you build a solid brand presence.
Increased Social Commerce
Although the trend of leveraging social media platforms is more often associated with B2C commerce strategies, B2B brands are also stepping up their game.
To capitalize on this trend, it is essential to select the right social media platforms for your business and integrate them with your CRM software. Identify the relevant platforms according to your target audience.
Create posts such as product demo videos or customer testimonials that resonate with them. Additionally, consider uploading your product catalogs to each platform to enable customers to browse your inventory.
Immediate Order Fulfillment
Today, customers’ expectations concerning order delivery time are increasing significantly.
This increased the desire to receive goods faster among customers, resulting in a push for shorter delivery times.
B2B brands can appeal more to buyers by fulfilling orders faster. One way to streamline the fulfillment process is by turning to third-party fulfillment (3PL) services. This can help businesses reduce their fulfillment and inventory management costs. It can also allow brands to benefit from fulfillment expertise and distributed inventory without the overhead costs.
Demand for real-time inventory
Besides focusing on immediate order fulfillment, it is expected that an accurate display of stock availability will become even more critical for B2B companies. Customers need to know how much stock is available when they place their order.
Updating inventory in real-time can provide them with the necessary reassurance that they will receive their products on time.
To achieve this, implementing an eCommerce PunchOut Catalog can be a worthwhile investment for 2023 and beyond. This system allows customers to access real-time inventory information, which can help businesses increase sales, reduce errors, and improve customer satisfaction.
Automated Payment Methods
The B2B segment needs automation to ensure a smoother customer experience and enrich the online marketplace’s reputation. eCommerce is moving more towards automation in payments, accounting, etc.
Adopt B2B payment automation tools for several reasons, such as saving business resources and time by streamlining data entry, ensuring frictionless payment automation, and having enhanced control over payment processing.
When conducting business with other brands and companies, leverage the latest technologies to address their most significant pain points.
In the end
If you missed out on utilizing these trends in 2022, you have a chance to improve your marketing and sales approach. It is important not to overlook any opportunities to enhance your strategies. B2B eCommerce is projected to continue its growth trajectory throughout 2023. Embracing these eCommerce trends will enable you to gain a competitive advantage in Q1 and beyond. Staying updated with the latest marketing ideas and approaches ensures that your company remains at the forefront of your client’s mind. Don’t miss out on the opportunity to leverage these trends and stay ahead in the ever-evolving landscape of B2B eCommerce.