Over the last decade, the B2B ecommerce industry has evolved from basic PDF order entry sites to complex customer portals. We expect that evolution to only accelerate over the next decade.
At Xngage, we have helped manufacturers, distributors, and wholesalers establish and elevate their ecommerce operations for more than a decade. Our team is always thinking about how this industry will innovate over time, so we’re sharing the major trends we expect to play a role in B2B ecommerce in the near future.
Focus on Differentiation
For years, you may have successfully set your company apart simply by offering an ecommerce option.
It is no longer enough to offer a standard ecommerce experience. B2B leaders are looking for innovative ways to stand out from the competition. The next step in differentiation is implementing features, services, and systems that will help your customers do their jobs easier, faster, or more efficiently.
The rest of our recommendations will help your organization differentiate.
Stickiness Will Drive Adoption and Loyalty
When B2B ecommerce leaders focus on stickiness, they’re implementing features that encourage adoption and brand loyalty. These features go beyond basic ecommerce functionality, helping your customers to do their jobs.
Think about your last home DIY project. When you were shopping for supplies, what made you choose to select one store brand over another if prices were the same? It’s probably because the store made your job easier.
What could that look like? Maybe they were transparent about product availability at the nearest location. Or they may have offered same-day delivery or curbside pick-up. The store might have offered educational videos on how to best use the product or recommended additional items that could improve your experience.
Every audience’s needs are different. Take the time to get to know your customers' unique needs so you can tailor your services and features.
Enriched Product Data
Many distributors and wholesalers are sourcing their product data from the same places, leaving their product listing pages to be nearly identical to those of their competitors. When your customers are comparing product listings with the same price, they will look for additional information to help them make their final decision. In order to set themselves apart, these B2B ecommerce leaders are looking for creative and innovative ways to enhance and enrich their product data.
Think of what information, knowledge, and guidance might help your customers make their final product decisions. While basic specs and static images are necessary, you can go above and beyond with 3D images or augmented reality features. A product one-pager is great but providing producing videos that demonstrate how to use or install the product can be even more helpful.
Share Your Knowledge and Expertise
What often differentiates your company from your competitors is your knowledge and expertise. Your customers know that when they reach out to their representative, your team will have the answers to their most pressing questions. This knowledge exchange is vital to building trust with your customers.
This can look like educational blogs, video demonstrations, or even an AI-powered chatbot that can interact with your customers outside of business hours. You can also offer intelligent product recommendations or product configurators for complex systems and products.
You might be tempted to gatekeep this knowledge, but we would encourage you to be as open as possible. Establishing your company as a trusted expert is one of the fastest ways to build a lasting relationship with your customer base.
Do More with Your Data
The right ecommerce operation will provide your business with a wealth of data at your fingertips, but we often find that B2B organizations are not taking full advantage of these insights. You should have custom dashboards and reports, and your team should be reviewing them regularly to ensure your operation is making progress towards its goals. The right reports can help you identify roadblocks that might be preventing your customers from making a purchase. You can learn how your customers are finding you including how well your digital marketing is performing.
You can also provide valuable data to your customers to help them do their jobs better. For example, you could provide dashboards and reports on their purchases, spend over time, product categories, and more.
Grow Your In-House Digital Talent
In the past, B2B companies often approached digital on a project basis: launch an ecommerce website, implement PIM, execute a UX update, etc. Now, B2B leaders are making transforming their companies by making digital the core way they operate the business. That means that they’re growing their in-house digital talent.
This in-house talent is helping define a digital strategy that drives new business opportunities. They identify internal processes that can be automated. They implement modern systems and technologies like upgrading your ERP. And these teams are also responsible for managing and monitoring data and analytics, as well as making informed recommendations based on those reports.
Find the Right Technology Partners
While growing your in-house digital team will be vital to your future success, you’ll still need strong technology partnerships.
In order to deliver on these differentiated customer experiences, B2B leaders will not be depending only on ecommerce platforms. Your customers have unique challenges which will require unique solutions that may require custom software development. Many ecommerce agencies will not have the experience or expertise to deliver custom software solutions. If your current ecommerce implementation partner can't offer those innovative solutions, it may be time to consider finding someone who can.
Get a Free Ecommerce Assessment
If you want your ecommerce operation to remain competitive and innovative, a free ecommerce assessment from the experts at Xngage is a great place to start. Our team will evaluate your current systems, performance analytics, and your unique goals and challenges to provide custom recommendations for technology, strategy and innovation.