If you are engaged in B2B sales, you probably know the immense significance of the development of the eCommerce industry in today's world. Traditional purchases, although still part of human life, are slowly giving way to their online counterparts. In the era of dynamic technological progress, it is worth exploring the concept of process digitalization and incorporating it into your business. In this article, you will read about why it is beneficial and how to acquire new customers online.
You run a B2B business. Why move to the Internet?
Even years of experience in sales may prove insufficient if you do not fully harness the potential arising from modern technologies. In today's world, online shopping has become a daily staple for consumers. Therefore, having in mind customer experience, regardless of the industry you operate in, it is worth considering digitalization.
The pace of market digitalization is so dynamic that it can be challenging to keep up. If you aim for effective sales, it is worth entering the modern world of eCommerce and implementing digital solutions into your business's sales funnel. Including digital channels in your sales strategy will give you new revenue streams and new possibilities.
What is B2B Sales?
B2B sales refers to transactions conducted between two businesses. This type of trade can occur in various industries, and transitioning it into the online realm offers several potential benefits. Digital channels introduce new opportunities to business models.
Omnichannel presence plays a significant role in B2B, allowing businesses to reach customers through multiple channels and various interactions and build trust. There's no need to push a physical sales force to every country you deliver. The digital revolution is the answer.
80% of B2B buyers expect a B2C-like experience. This statistic is a powerful reminder that B2B buyers are no longer content with a traditional, transactional sales experience - according to Gitnux.
According to 2023 reports, 60% of global shoppers prefer to shop with a retailer or brand that has both digital and physical stores. It means that for customer relationship management, it is crucial to adapt these new revenue streams via digital channels. The customer journey has changed. 71% of the search process happens online - digital channels are so important now. What about savings? According to Gitnux B2B companies that use digital technologies have increased total cost savings by 8%.
How Does B2B Differ from B2C?
In sales, two popular models often emerge, B2B and B2C. The differences between them are crucial in conducting business in eCommerce.
B2B (Business to Business) refers to collaboration between individual companies, while B2C (Business to Consumer) involves sales targeting individual end users. Each of these types of eCommerce will have some differences in their approach.
Why digital transformation will benefit you?
Daily interactions with clients should be based on modern technologies. High-quality online services can offer you more benefits than sticking solely to traditional sales models.
Acquiring potential customers becomes much easier by leveraging the possibilities offered by digital commerce. The majority of purchasing processes now occur through electronic devices, making it crucial to establish your brand's online visibility.
Currently, many B2B customers actively search for potential collaborations in the B2B market by exploring the seller's website and product catalogue. Therefore, it is important to ensure that the purchasing process in your business is intuitive and tailored to user needs.
If you are wondering whether the digital transformation is right for you, consider how many people currently use the internet to make purchases. Around 64% of inspiration is gained online in 2023. Ignoring it in your sales process will stop your business growth.
Who should consider using digital tools?
In the modern business landscape, there are still B2B companies that have never utilized digital assets or the Internet to achieve their business goals. They ignore new business models and operate in the past. However, many different industries could enhance their potential by getting digital maturity within the coming weeks or months.
For example, if you are involved in distributing machine or automotive parts, you likely have a reliable customer base. But what if you want to expand your customer reach or explore new sales channels? What if you improve customer experience thanks to digital transformation?
In such cases, it is worth exploring the realm of eCommerce and finding your place in the B2B online market. By doing so, you not only increase your business's reach but also have the opportunity to acquire entirely new customers, not just those acquired through traditional means.
Of course, traditional sales still play an important role in the lives of sales professionals. However, it is worthwhile to leverage the opportunities provided by modern technologies to grow your business and stay ahead of the competition by introducing new technology and innovative solutions.
Traditional sales and digital technologies
While operating in the traditional sales model, you likely have significant experience in working with customers. However, if you intend to partially shift your operations to eCommerce, it is valuable to explore the opportunities offered by modern technologies.
Meeting customer expectations and transitioning to online sales represents a tremendous opportunity to increase conversion rates and improve customer experiences.
eCommerce Platforms
To effectively sell online, you need a reliable eCommerce platform. Well-chosen software will enable you to create a visually appealing online store and customize the purchasing process to meet customer preferences and needs.
According to McKinsey & Company, 87% of B2B buyers say that they would pay more for a supplier with an excellent eCommerce portal. A lot, right? Close to two-thirds (65%) of B2B businesses from various industries now provide eCommerce capabilities, knew it already in 2021.
Good eCommerce software should provide not only magnificent UX/UI design, but also well-thought-out solutions that allow your customers to successfully utilize the services you previously offered in the offline world. From the user's perspective, key aspects include information architecture and easy-to-find products. By focusing on these aspects, you can expect high sales performance.
Which eCommerce platform should you choose?
It depends on your personal needs, but an excellent pair would be Shopware with Pimcore solutions to support product information management - crucial for B2B companies.
The new level of product management
Picking a reliable eCommerce platform is not enough. For your customers, what matters most is whether they can quickly find the products they require in your online store. The right Product Information Management system along with a Digital Experience Platform helps to keep everything on track.
PIM helps in centralizing and managing all product data, facilitating effective and seamless product content management across multiple platforms. As a data reservoir and content management tool, PIM allows B2B companies to organize critical product data and marketing assets, thereby improving the accuracy, consistency, and comprehensibility of product information. By improving the quality of product data, PIM can enhance the customer's shopping experience, build trust, and drive conversion rates, thereby boosting B2B sales.
Moreover, PIM can optimize search engine visibility by enabling the comprehensive embedding of targeted keywords within product content, hence increasing marketing-qualified leads. PIM can also enable B2B marketers to segment and personalize product content based on buyer persona, boosting engagement and sales.
On the other hand, a DXP serves as a comprehensive platform that integrates different technologies to enable a responsive, scalable, and automated customer experience across all channels. DXP enables the quick adaptation of the customer experience based on user behaviour, providing personalized and consistent experiences to users across different touchpoints such as websites, apps, emails, etc.
Automation of Processes
Digitalizing your B2B business is essential for staying ahead of the competition and aligning your sales strategies with the needs of modern customers.
eCommerce opens up many opportunities for sales professionals. Those with experience and sales skills will appreciate the automation of previously tedious and repetitive tasks. Modern technologies take care of repetitive tasks, allowing sales professionals to focus on customer communication and overcome the limitations of traditional work models.
Ensuring the comfort of your employees translates into better sales results and a pleasant working atmosphere in your company. Employees who are satisfied with their work are more motivated to contribute to actions that ensure the organization's bright future.
Therefore, moving your business online is an opportunity to develop your organization and create a more satisfying work environment for your sales team.
Personalized Offerings
Contemporary eCommerce methods allow for effective sales management, automation of sales processes and reaching an increasing number of customers.
To ensure your business is financially beneficial, you must develop your online store in a way that makes it intuitive and quick for customers to use. Users expect convenience, so minimizing waiting times is crucial for online purchases.
eCommerce platforms offer a wide range of services, with personalization and customer engagement being one of the most important. Every consumer who feels that their purchases are tailored to their individual needs will feel cared for, which will increase their likelihood of making a transaction.
Every customer, especially with advanced technologies, appreciates feeling valued. Personalizing your offerings is a path to customer satisfaction and, as a result, motivates them to make purchases in your online store.
Export Development
One undeniable advantage of digitalizing your business is the growth of online exports. If you deal with the delivery of vehicle or furniture parts, for example, entering the world of eCommerce will bring you not only a multitude of new customers but also financial improvement.
Of course, entering the online world also means working with various types of data. In such cases, it's worth utilizing modern solutions like PIM, which allow for easy management of materials and information and automate problematic processes.
PIM solutions provide support for data management. If you have a broad customer base and a large assortment, you don't have to worry about technical issues. Good software will enable you to quickly navigate through apparent chaos and optimize sales activities, saving time and enhancing the sales process in your company.
Summary
As you can see, there are numerous benefits to transitioning B2B sales to the online world. However, to ensure that this process contributes to the growth of your business, it's important to approach it wisely by selecting reliable solutions and dependable technologies.
Sales require both experience and flexibility. By leveraging eCommerce platforms, you offer your customers more options than what traditional sales can provide. Remember that meeting customers' expectations is what drives the growth of your company.
Digitalizing purchasing processes presents an opportunity to acquire more customers, outperform the competition, and improve sales performance. With online visibility, your brand becomes more recognizable and attractive to potential customers and business partners.
If you're considering the digitalization of your B2B business, contact us, and we will be happy to help with choosing the right technology.
