Human Element eCommerce Strategist, Gary Goodman, was interviewed by DC360 and answered questions regarding how B2B companies can meet expectations of their customers in the B2B buying experience. To read the full report, click here.
B2B companies must cater to their customers’ demands to compete in today’s B2B landscape. As B2B buyer demographics shift toward digital natives, the expectation for self-service online buying capabilities is growing exponentially. A helpful B2B eCommerce site is now table stakes. To discuss how robust eCommerce options will help B2B companies rise above the competition and continue to grow, DC360 B2B spoke with Gary Goodman, eCommerce strategist at Human Element.
Why are B2B eCommerce capabilities so important now?
More B2B buyers want to be able to learn about products and complete transactions without interacting with a salesperson. Companies that provide convenient ways for customers to quickly make purchases online will win out against their competitors. Business buyers are often demanding online access to:
- Custom pricing
- Bulk purchases with tiered discounts
- Instant access to relevant documentation
- Options to quickly reorder common items they purchase regularly
- Remote order and approval processes for goods
How have advancements in technology offered B2B companies growth opportunities?
More efficient processes of order taking frees up human resources for higher quality interactions with clients. Less time spent on logistics means more time spent on strategy. Automated communication, collaboration, and logistics control systems reduce the amount of sales lost to inventory issues or miscommunication. And improved analytics and AI help companies identify missed opportunities and roadblocks within their current technology that prevent further revenue growth.
How can they make the business case for implementing new eCommerce technologies?
For B2B businesses, having an online commerce solution is crucial, even if transactions aren’t web-based. Without an online presence, you lag and lose potential profit to competitors. Creating an eCommerce site enhances efficiency, reduces costs, minimizes errors and elevates customer satisfaction through automated processes. Improved sales and marketing, reduced acquisition costs, and better retention result from commerce technologies for lead nurturing and follow-up. A well-structured commerce solution generates organic traffic, attracting new customers. Additionally, eCommerce opens new markets and lead funnels, fostering overall growth.
How can B2B companies overcome the challenges they currently face?
B2B companies should start with a broad view of their business and the expected landscape in their industry over the next few years. Then, they can build a roadmap of the capabilities they will need to succeed. It’s also essential to work with a partner, such as Human Element, who can help select a mix of technologies to meet their needs within their budget. There’s no one-size-fits-all solution, but they could:
- Use off-the-shelf technologies well supported with third-party solutions.
- Customize only when they need to.
- Keep security in mind and prepare for potential threats to the infrastructure.
- Review their current business practices and make small adjustments to help simplify technology requirements.
- Pay attention to AI and automation and think proactively about how these technologies can improve responsiveness and reduce costs and human error.
- Measure everything to identify opportunities to improve.
To learn more about B2B technologies that can help your business, contact us today.
