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B2B eCommerce Features Your Store Need in 2023

05 Jan 2023

Albert Wood

B2B eCommerce Features Your Store Need in 2023

Over the past few years, B2B has started relying significantly on eCommerce. The pandemic accelerated this dynamic while underlining the importance of eCommerce experiences and diminishing face-to-face interactions in B2B sales processes.

Several trends influence B2B eCommerce and reflect buyers’ changing attitudes on how they will interact with brands in 2023 and beyond. These 2023 B2B eCommerce trends can help you capitalize on growth opportunities.

B2B eCommerce Statistics

Recent studies highlight massive shifts within the B2B industry towards eCommerce strategies and platforms. Going digital can no longer be ignored as a sideline or trendy channel.

The rapid adoption of online buying has shown tremendous technological leaps, with eCommerce apps and plug-ins set-up becoming easier and breaking the ice for B2B eCommerce advancements.

More than two-thirds of B2B companies are ready for complete digital transformation.
B2B sellers report they are more likely to use eCommerce for nurturing their leads than in-person selling.
eCommerce sales have already started reflecting as a top revenue-producing channel.
87% of B2B buyers would pay more to a supplier with an established eCommerce portal.
90% of B2B buyers say that brands could lose business if their digital channels don’t keep pace with the changing needs.

B2B buyers are prioritizing eCommerce buying experiences. And, to remain competitive, your business must stay up to date with shifts in buyers’ attitudes and trends.

2023 B2B eCommerce Trends

Advanced Site Search

Advanced on-site search is vital to ensure that your customers can quickly and easily find the products they are looking for quickly and easily. B2B products generally have many parameters – weight, length, height, size, shape, and more. Making product searches easy by allowing customers to search by these parameters will be a game changer for your business in 2023.

“Utilizing search shows intent, and having a powerful search is crucial for high conversion rates. If customers can’t find the exact product they need because of slow and not customized market searches, you will lose the sale.” – CEO, B2B eCommerce store.

Advanced search features reduce the likelihood of returns, refunds, and abandoned carts. Don’t let a traditional search experience keep you from unlocking potential sales.

Personalized Customer Experiences

B2C has employed eCommerce personalization for a while now, and it’s time B2B merchants should catch up. According to a McKinsey & Company study, B2B buyers prefer more personalized buying experiences and can move their business if they don’t get it.

Personalized buying journeys are about relationships, and creating tailored interactions from awareness to purchase can increase brand loyalty.

Incorporating Artificial Intelligence (AI) into this process can help predict customer needs and better cater to the user’s interests through factors like browsing habits, social media engagement, and more.

Segmentation

B2C treats customers equally, however, with wholesalers dealing in larger orders that vary from customer to customer. The B2B organizations need specific group designations for segmenting clients.

B2B companies must classify customers that help businesses set pricing, minimum order quantity, and group content like promotions, shipping, and payment options for each segment.

Advanced Shipping Options

Some buyers want fast shipping, even if it costs high. On the contrary, others want shipping to be cost-effective, no matter how long it takes. Keeping the customer segments in mind, B2B sellers must provide advanced shipping options to serve buyers’ individual needs. The shipping options must also cater to complex shipping needs, like delivery to multiple locations or drop-shipping from different warehouses.

Custom Catalog and Pricing

While you segment the customers to personalize their shopping experience, you often feel the need to offer “special” pricing to more demanding clients.

The ability to set different product prices in the catalog and assign them to specific customer groups makes a huge difference and is the core of a B2B eCommerce website.

Along with customer-specific pricing, a customer-specific product catalog allows businesses to list a personalized product catalog for clients.

Flexible Payments Options

In the B2B world, with an existing relationship with the client, not every business order can have payment processed online. To accommodate the needs of B2B clients, integrate these offline payment methods:

Purchase Orders
Corporate Accounts
NET 30 (60 or 90)
Credit Card On File
Checks

The B2B eCommerce platform should be able to configure multiple payment options while customizing the conditions that make specific payments available to customers segmented by location, order amount, or group.

These B2B features aren’t only “nice to have” but also must-haves. If your B2B eCommerce site doesn’t have all or any of these features, the new generation of buyers will find a competitor of yours. Connect with a B2B eCommerce specialist at ioVista to implement one or more of these features.