5 Benefits of Investing in Your B2B eCommerce Experience

Jeff Larche

5 Benefits of Investing in Your B2B eCommerce Experience

The business-to-business eCommerce market continues to explode — it’s projected to reach $2 trillion in sales in 2023. Given that number, it's not surprising that B2B executives are looking to make sure their brand and products stand out in the digital space.

That’s where great customer experience comes into play. But how do you make a business case for the investment? Here’s how.

Self-Service Options Reduce Costs and Optimize Resources

Dynamic chatbots and do-it-yourself customer portals can significantly lower the costs associated with manual order entry and customer service. According to Gartner, when live interaction is needed at any point during issue resolution, it costs your business 80 to 100 times more than if the customer solved that same issue on their own.

What’s more, if these tools are designed and implemented correctly, B2B customers prefer them over talking to a support person. The 24/7/365 availability is more important post-pandemic than it has ever been. According to Microsoft’s Work Trend Index, 2022, “Workday span for the average Teams user has increased more than 13% ... since March 2020, and after-hours and weekend work has grown … 28% and 14%, respectively.”

In other words, if you aren’t meeting your B2B buyers’ needs after traditional work hours through automation, you’re even more likely to be frustrating them or even losing them to competitors!

High-Quality Imagery and Videos Drive Engagement

Visual elements capture the attention of your audience and create a more memorable experience. Visuals increase a website visitor’s desire to engage with all types of content by 80%, leading to more time spent on your site, higher conversion rates, and a positive perception of your brand.

Effective Customer Journeys Increase Conversions

Optimizing your B2B eCommerce experience requires a streamlined and effective customer journey. This involves easy access to product information, free trials, and product demos, as well as a smooth, simplified purchase process. Reducing friction along the way increases conversion rates and generates more revenue for your business.Improving customer journeys within self-service tools has become even easier with artificial intelligence (AI), as it can more effectively segment your users and identify the “happy path” for them based on such outcomes as submitted forms or downloaded content.

Personalization Enables Cross-Sells/Upsells, Customized Pricing

Personalization is a crucial element of B2B eCommerce, and for good reason. It lets you use the data you have on a customer (needs, behavior, company revenue) to offer them a price you think will make them most likely to buy.You also can conduct price testing among various customer groups and leverage data to increase the likelihood of cross-sells, upsells, and repeat purchases to optimize your revenue and profitability. For instance, insights into buying patterns and previous purchases enable you to offer personalized recommendations that potentially introduce your customers to products they might not have considered before, increasing your company’s relevance and adding value to the customer experience.

Happy Customers Become Advocates

A great B2B eCommerce experience leads to happier customers who are more likely to be loyal and even become brand advocates. Engaging journeys and smooth transactions build trust and pave the way to repeat purchases, increasing lifetime customer value and encouraging positive word-of-mouth.

The Bottom Line

Investing in your B2B eCommerce experience provides many benefits, including increased customer engagement, higher conversion rates, and more potential for loyalty. Leveraging the latest technology platforms and personalization strategies, you can create a seamless and memorable experience that sets your brand apart in a highly competitive market. Schedule a call with our specialists to talk about elevating your B2B online presence.