eCommerce is predicted to pick up considerably over the coming years, as 88% of B2B decision makers anticipate offering products digitally over the next five years. That’s according to new research from Cloudcraze, the customer-first B2B platform.
Some of the top reasons why B2B decision makers believe eCommerce is set for substantial growth include easier acquisition of customers (59%) and easier cross-selling to customers (51%).
It comes as little surprise then that 48% of B2B businesses are already selling their full line of products online.
Digital offers consumers the important advantage of being able to access services anytime from anywhere. More than half of businesses are already offering self-service access to all their customers, with software companies leading the field.
Of the companies which are not yet offering products online, 22% believe that their eCommerce systems aren’t advanced enough.
For consumers, the advantages which B2B decision makers predict include more tailored products (52%), automated orders (48%) and contracted pricing (47%).
In order to boost customer engagement, businesses are using personalized product recommendations (55%), cross-selling and up-selling (49%), and promotions (48%) among other tactics.
In response to the growth in digital, the roles of sales teams have changed as well.
42% report that their service teams are more involved in the commerce experience whilst 22% say their service teams now spend less time servicing low-volume customers.
However, more than half of B2B decision makers report that their eCommerce systems do not provide good consumer insight. 51% say that their current systems don’t allow them to scale and add new products. Another 51% report that their platforms are too rigid to adapt to changing trends.
The report concludes:
Digital commerce allows businesses to offer customers an intuitive B2C-like buying experience while also supporting the complex functionality B2B customers expect. B2B businesses that enable digital commerce are confident that it is the key to growth in the years head – whether driving more revenue or retaining and attracting customers in the long term.