Trusted global commerce solution provider BigCommerce explains how new B2B technology can boost businesses, taking advantage of worldwide digitalisation.
In today’s digital age, B2B ecommerce has emerged as a vital component of global trade. In the past, traditional sales channels dominated the B2B landscape, but recent shifts in macroeconomic conditions and increased digitalisation have prompted a surge in B2B companies investing in the online realm.
BigCommerce, as an ecommerce platform, has witnessed this B2B ecommerce boom, especially in Europe, where approximately 20% of their customers primarily engage in B2B sales. A global study BigCommerce conducted revealed that 74% of B2B buyers now use online platforms for business transactions, with 50% making online purchases multiple times a week.
While ecommerce offers opportunities for B2B brands to expand their customer base and boost sales, it also presents substantial challenges. Questions arise regarding the best channels to reach B2B buyers and how to create online experiences that cater to diverse buyer needs.
Acquiring new customers is crucial, but retaining existing ones is equally vital. Fortunately, modern, agile technologies are now accessible to a wide range of B2B businesses, provided they choose the right solutions and integrate them effectively.
In this guide, BigCommerce, in collaboration with prominent European partners like Brave Bison, Adacto | Adiacient, rb2, Actum, and Blackbit, demystifies various technical solutions that empower B2B companies to achieve their objectives.
Building your B2B ecommerce foundation
MKM Building Supplies, the UK’s largest independent builder’s merchant, exemplifies how to establish a robust B2B ecommerce presence. MKM, with its complex business model serving B2B, B2C, and B2B2C customers, required an ecommerce platform that seamlessly integrated with existing systems. BigCommerce, with its API-first approach, allowed MKM to automate workflows, simplify tasks, and empower teams.
Utilising microservices like Bloomreach, MKM enhanced its CMS, product search, and SEO capabilities, while the headless architecture of BigCommerce facilitated handling complex business rules, such as customer-specific pricing and branch-specific stock management. The result was a 23.1% increase in YoY traffic, a 31% rise in web orders, and a 31.5% boost in revenue.
Key takeaways: Choose solutions that align with your business needs and integrate seamlessly. Prioritise flexibility, security, and a unified online/offline experience.
Recommendations for B2B companies include gradually transitioning toward composability, selecting back-end systems with strong APIs, and adapting to evolving technologies.
Developing new acquisition channels
Recent global events have accelerated the adoption of digital sales channels in the B2B sector. B2B businesses must maximise the potential of multichannel strategies and digital marketing to attract new customers. Millennials and Gen Z, who are increasingly becoming B2B buyers, are accustomed to online purchases, making social networks a primary channel for reaching them.
To cater to these new buyers, businesses should establish a presence on various social networks, adapting their content to suit each platform’s tone and audience. Marketplaces also offer opportunities for visibility and lead acquisition. B2B companies should choose marketplaces wisely and use syndication tools to manage catalogue publication efficiently.
Moreover, businesses should consider transitioning to a direct-to-consumer (DTC) model to reach end consumers in the supply chain. To do this successfully, they need a modern, flexible, and secure digital commerce platform that offers a B2C-like user experience.
Key takeaways: Adapt to customer habits while addressing B2B-specific needs for efficiency and payment methods.
Expanding your potential market by selling cross-border
Selling cross-border is an option for B2B merchants looking to reach new customers directly. This strategy requires managing price lists in different currencies, translations, and localisations for web stores. A multi-storefront approach tailored to different markets allows for localised experiences, including pricing, product information, and user experience.
Smooth, secure international payment options and robust logistics and shipping processes are crucial for success. Additionally, offering multilingual customer support helps build trust with international customers.
Key takeaways: Expand your business by tailoring your online presence to foreign markets while ensuring seamless payments, logistics, and customer support.
Creating a Customer Experience that Drives Loyalty
Customer experience is a cornerstone of successful ecommerce, subscription, and loyalty platforms. Improving the front-end customer experience by focusing on site speed, multiple payment methods, mobile-first design, intuitive navigation, personalisation, and detailed product information enhances the B2B shopping journey, mirroring the ease found in B2C platforms.
AI-driven tools can segment B2B customers based on behaviour and preferences, allowing for personalised product recommendations and targeted email marketing. Collecting and analysing data to understand customer needs and preferences is essential for creating a Single Customer View (SCV) and delivering tailored experiences.
Key takeaways: Enhance customer experiences through technical improvements, personalisation, and data-driven insights.
A New Era of B2B Commerce
Leveraging appropriate technologies and understanding their applications is key to adopting an omnichannel approach that aligns with the new generation of B2B buyers.
Focus on building frictionless and personalised online experiences, leaving maintenance and security to your ecommerce platform. Empower your teams with the right support and technologies to boost productivity and efficiency. Embrace these strategies and solutions to unlock efficiency, productivity, and ecommerce success in this exciting new era of B2B commerce.
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