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B2B eCommerce

Are You Maximizing Your B2B eCommerce Potential?

October 7, 2024 | Oro Team

From AI-powered personalization to the rise of niche marketplaces, the future of B2B eCommerce is here, and it’s brimming with opportunity.

On September 26th, a group of B2B trailblazers gathered at London’s historic Churchill War Rooms to dissect these opportunities and explore what it takes to thrive in this new landscape. Over dinner and spirited discussion, manufacturers, distributors, and wholesalers at the forefront of this revolution shared insights, sparked collaborations, and charted a course for the future of B2B selling.

The panel discussion was moderated by Aidan McGaughey, Country Manager UK/I Nordics at OroCommerce. Joining him were:

  • Emma Jones, Global Lead at the Department for Business and Trade
  • Michael Adesina, Omnichannel Sales Manager at Essity – known for its leading brands including TENA, Leukoplast, Bodyform and Tempo
  • Alvaro Verdoy, CEO SalesLayer
  • Denis Baranov, Head of Retail Practice at DataArt

Here’s a recap of the key insights:

Current Trends and Challenges in B2B eCommerce

Static catalogs and cumbersome order forms are relics of the past. Today’s B2B buyers expect personalized experiences, streamlined buying journeys, and omnichannel strategies that integrate online and offline touchpoints. Automation in supply chain management and procurement has become essential for efficiency and competitive advantage.

However, B2B eCommerce faces challenges as well. Inflation, managing complex pricing structures, multiple buyer roles, and intricate approval processes often complicate the purchasing experience. Additionally, many companies struggle with digital transformation, especially when integrating legacy systems with new eCommerce platforms. Data security and compliance are ongoing concerns, particularly as businesses handle sensitive transactions and customer information.

The Impact of AI in B2B eCommerce

One of the most significant benefits of AI in B2B eCommerce is enhanced personalization, where AI-driven algorithms analyze customer data to deliver tailored product recommendations, categorizations, descriptions, pricing, and promotions. This improves customer experience and drives higher conversion rates. AI optimizes supply chain management, with predictive analytics helping companies forecast demand, automate inventory management, and streamline procurement processes.

AI-driven automation is also simplifying repetitive tasks, such as order processing, and invoice management, reducing human error and freeing up resources for strategic activities.

B2B eCommerce Marketplace Trends and What to Consider Before Taking the Leap

B2B marketplaces are gaining significant traction, offering businesses new avenues for growth and streamlined operations. Niche marketplaces provide tailored solutions and enhanced transparency for buyers and sellers in specific industries. AI and machine learning further enhance these platforms through intelligent search, personalized recommendations, and automated procurement. With the rise of mobile commerce, B2B buyers are increasingly empowered to make purchasing decisions anytime, anywhere.

Considering joining a marketplace? Careful evaluation is crucial. Assess platform fees, data ownership implications, and the potential impact on direct customer relationships. Thoroughly research the marketplace’s reputation, user experience, and scalability to ensure alignment with your long-term goals.

How Much of an eCommerce Project is Digital Transformation Rather Than Just a Tech Stack Conversation?

True digital transformation transcends mere technology upgrades. It requires reshaping organizational structures, processes, and mindsets to adapt to evolving customer expectations and market demands.

A successful eCommerce project involves integrating new technologies with legacy systems, aligning cross-functional teams, and encouraging a culture of digital transformation. It also includes enhancing customer experiences through data-driven insights and personalization, optimizing supply chains, and automating internal workflows. Without addressing these elements of digital transformation, even the most advanced tech stack may fail to deliver value.

Therefore, while technology is the foundation, the strategic shift towards digital-first thinking is what truly drives long-term success in eCommerce initiatives.

Tactics to Help B2B Customers Embrace eCommerce

First, offering a user-friendly online platform is essential. Simplifying navigation, providing clear product information, and offering personalized buying experiences through tailored recommendations can ease customers into the digital buying process.

Another effective tactic is providing flexible payment options and customized pricing structures that mirror traditional buying processes, making the transition smoother for customers. Additionally, integrating omnichannel strategies that combine online and offline experiences allows customers to move between digital and in-person interactions.

Finally, offering B2C-style loyalty programs, strong post-purchase support, and using data analytics to continuously refine the experience can drive customer satisfaction and long-term adoption of B2B eCommerce.

How Companies Can Drive a Unified Approach to Tech Stacks

The first step is aligning business objectives with technology decisions. IT and business teams should work together to ensure that the selected tech stack supports not only immediate needs but also future growth and innovation.

Next, choosing platforms that easily integrate with existing systems is critical. A unified approach requires seamless communication between various tools, from CRM, ERP, and PIM systems to marketing automation and eCommerce platforms. Using APIs and middleware solutions can help ensure data flows smoothly across departments.

Standardizing processes and workflows across the organization is another important aspect. This reduces silos and ensures that different teams—sales, marketing, finance, and customer service—are working from the same data sets and using compatible technologies.

Regularly updating and reviewing the tech stack for compatibility, performance, and user adoption can help maintain a unified, agile system that scales with the business.

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