Why evolving customer preferences is forcing brands to re-evaluate their e-commerce platforms

Thirty-seven trillion dollars. It seems like an unfathomable number, but that’s how much the global business-to-business (B2B) e-commerce market is estimated to be worth by 2027, according to Statista. That’s almost a 228 per cent increase from 2018.

 

What – or who – will drive this massive growth? It’s simple: customers.

 

As direct-to-consumer (DTC) ecommerce evolves, B2B customer expectations, too, have shifted. B2B buyers no longer expect calls from sales reps like they did in days past (but that’s not to say they don’t still value it). Instead, customers expect a DTC-like, online experience where they can self-serve and receive their purchase in a timely manner, just like they would when purchasing for themselves.

 

With the right technology, B2Bs can not only keep up with these rapidly evolving customer expectations, but anticipate customer needs and grow into new spaces quickly and efficiently.  

 

A high-quality customer experience is key

 

74 per cent of B2B buyers in the US use online channels to transact or purchase products, according to BigCommerce research, while 75 per cent of those buyers primarily purchase through a supplier website or app. Having a digital purchasing option is no longer a nice-to-have for B2Bs; it’s a must-have for any company looking to succeed in their market.

 

When asked to rank their most-preferred features of an ecommerce website, B2B buyers indicated that they primarily valued the ability to compare products and prices, followed by the ability to customise orders and the ability to save their purchase history for easy reordering.

 

“Hyper-personalisation towards customers will be a key trend in B2B ecommerce in 2024,” says Lance Owide, Senior Director of B2B at BigCommerce. “B2B brands should prepare by investing in AI-driven CRM (customer relationship management) systems that can analyse customer data to provide insights for personalised marketing and sales strategies. Using an e-commerce platform that can easily integrate with these kinds of tools will be imperative to success.”

 

While it is possible to create this kind of integrated, cross-system functionality on a number of e-commerce platforms, it’s often too challenging, time consuming or costly to implement. Finding an e-commerce platform that has key B2B functionality natively built in can mean the difference between a customer-centric e-commerce website and a complete headache.

 

Create a clear path to conversion with as few roadblocks as possible

 

While the B2B conversion experience is similar to what one might find in the DTC checkout process, there are a few key differentiating factors that set it apart. Take payment methods, for instance. B2B buyers want to pay online just like they always have, whether that’s with a purchase order (PO) invoice, automated clearing house (ACH) payment or even from their company credit card. Offering B2B-specific payment methods – in addition to the old standbys – is key to converting.

 

In addition to payment methods, B2B customers also want to see shipping options specific to their needs. According to BigCommerce, 40 per cent of B2B buyers indicated that the number one pain point they experienced when shopping online was inaccurate pricing or shipping information. Being able to provide customers with accurate, up-to-date shipping information is key for conversion. This means syncing a website with warehouses, delivery services and more.

 

By working with an e-commerce platform that understands the importance of the checkout experience, not just for B2Bs but for DTCs as well, businesses can improve their conversion rates and sell more – period. Companies that switched to BigCommerce could see a 10 to 30 per cent improvement in site traffic conversion rate over the course of three years, according to Forrester Research. In the long run, the numbers really add up.

 

Scale quickly and efficiently

 

Growth is at the centre of every business. That’s why B2Bs need an e-commerce platform that can grow with them, whether that’s expanding into new markets, selling new products or even beginning to sell directly to consumers.

 

Many platforms offer their users the potential for growth, but this growth often comes at a price. Developers can be costly. New features can come with their own set of headaches. And some don’t offer the kinds of tools businesses need to sell DTC and B2B on the same platform.

 

Finding an e-commerce platform that’s built with growth in mind is hugely important for businesses with an eye to the future.

 

When asked about his decision to move to BigCommerce, Brendan McCarthy, founder of Designerie, had this to say: “We see BigCommerce really being the partner for us as the company grows. The platform gives us a lot of flexibility, and as the business evolves, and perhaps different needs change, BigCommerce is able to adapt with us as opposed to us needing to consider re-platforming because something has changed within the business”

Migrate to a platform that works with you

 

E-commerce isn’t the future of B2B sales. It’s happening right now. If you’re not on a platform that can create the high-quality experience that your customers want, you’re already falling behind.

 

To compete, it’s necessary for B2Bs to work with an e-commerce platform that can help easily and efficiently engage with prospects and existing customers, convert them into sales, and help their businesses grow as they need to.

 

In our e-book, Making Moves, we highlight three BigCommerce customers who have done just that. They saw the immense opportunity that e-commerce offered their business, and moved onto a platform that helped them grow. Download your copy today to see how your business could see a 26 per cent increase in revenue, like Designerie, a 19.9 per cent increase in orders, like Toolsaver, or a 108 per cent increase in transactions, like Theo Chocolate.

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Download the e-book today.

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Reed Hartman, Content Marketing Manager, BigCommerce