Commerce is a driving force in the world around us. One of the biggest facets of B2B commerce is the evolution of e-commerce. E-commerce is shaping the modern business landscape, with 65% of B2B companies utilizing it for online sales transactions.
If you own and operate a B2B company and are looking to stay ahead of the curve, you need to be aware of the latest B2B commerce trends. Staying up to date on these trends can help you increase your bottom line. With that in mind, here are 10 B2B commerce trends to be on the lookout for in 2024 and beyond.
1. Omnichannel Experiences
Omnichannel experiences are one of the top modern B2B commerce trends to consider. Omnichannel refers to the ability to access multiple communication platforms and channels. This means having the option of whether customers wish to do business face-to-face, remotely, or through e-commerce channels.
A potential client may also wish to browse a B2B business’s website to gather more information before ultimately making the call to talk to a sales representative. A good modern B2B company must be able to adapt to offer its clients a streamlined experience.
2. Social Commerce
There’s no denying the powerful impact social media has on our personal lives to like, shop, scroll, and share. Social media platforms can also be powerful e-commerce tools.
As much as 95% of B2B businesses use social media to connect with potential clients. These businesses understand that social commerce is one of the best ways to their companies visible and accessible in the modern era.
By tapping into social commerce, you’re positioning yourself where your customers are. This, along with a well-designed social media business profile, can help give you a competitive edge in evolving markets.
3. Personalized Customer Interactions
The digital world can sometimes feel cold and impersonal. A B2B company looking to make connections with current and new customers alike. That’s where personalization can be one of the best B2B commerce trends to implement.
Personalized customer interactions can involve anything from specialized pricing to custom marketing messages. For example, a new client could receive a special introductory offer for their first year of signing up with your company.
Insights into customer data like shopping habits and past purchases can allow you to tailor recommendations and promotions accordingly.
4. Digital Supply Chain Management
Supply chain issues can tank a B2B company. After all, customers can’t complete a traditional commerce or e-commerce transaction if you don’t have what they’re looking for readily available. They may go to a competitor who does have it in stock and cost you precious business.
The COVID-19 pandemic helped shine a light on this issue for many B2B companies. A supply chain management protocol should be a part of any successful B2B company’s business plan.
Use digital strategies and e-commerce tools to help you identify any potential supply chain demands or challenges. Create a plan to help address these issues before they happen.
5. Mobile Wallet Capabilities
Cash is king, or at least it used to be. With the expanding e-commerce landscape, digital payment options are taking over.
It isn’t just B2C consumers who enjoy the flexibility and variety of mobile wallets either. B2B consumers also want more payment options made available as well.
By 2025, 80% of B2B transactions will be digital. This will afford B2B consumers the ability to pay with methods like e-checks, wire transfers, bank transfers, PayPal, ACH, Google Pay, Apple Pay, and more.
6. Sustainability and Eco-Consciousness
The health of our planet is becoming a growing concern for many consumers, both B2B and B2C. A B2B company that actively engages in eco-friendly practices is more appealing to consumers.
This relates to every aspect of the business world, from manufacturing to sustainable packaging and daily operational goals. But eco-friendly B2B commerce trends aren’t just a passing phase. They are a commitment to offering consistent and sustainable practices for the planet as well as ethical business operations.
7. Marketing Automation
The use of Customer Relationship Management software has been on the rise in recent years. These CRMs, as they are often called, help businesses store, track, and manage customer data.
Salesforce is one of the most well-known and utilized CRMs by B2B companies. This cloud-based software can effortlessly streamline and automate common workflows. It takes the guesswork out of repetitive tasks and processes so you can focus on other areas of your business.
8. Faster Order Fulfillment
We live in an age of instant gratification. Consumers have been spoiled by companies like Amazon with their one-day and same-day shipping options. Now, consumers expect other B2B businesses to step up and meet these demands.
Consumers expect B2B commerce trends to follow suit with expeditious shipping. What’s more, they don’t want to pay exorbitant prices to do so. Offering fast and free, or at least reasonably priced, shipping options is the key to creating happy customers.
9. Self-Service Portals
Traditional commerce often required customers to wait for a callback or a meeting with a sales rep to place an order. But modern B2B commerce trends are putting customers in charge of ordering.
Registered and vetted customers can now browse and buy directly through self-service portals. This cuts down on wait times for sales reps and allows customers to place orders directly on their time.
10. AR and VR Technology
B2B commerce trends are shifting focus to the future. What better way to do this than with the implementation of AR and VR technology? These innovative technologies started as recreational game pieces but are now rapidly becoming a part of e-commerce tools.
Through AR and VR tech, products and services are no longer just static images on a screen. Consumers can become one with these products and experience them before they buy them. They can view them in real-time and enhance the customer experience through interactive simulations and gamification methods.
Stay On Top of B2B Commerce Trends with 6Street Digital Today
In the B2B business world, it’s essential to stay current with all the latest B2B commerce trends. Doing this will help you evolve and grow and meet the needs of your customers in the most efficient ways.
6Street Digital is your trusted Salesforce partner in growth. We’ve already helped clients like Symantec, HEB, L’Oréal, and Coca-Cola. Let us help you too.
Ready to get started? Then contact us today to request your free consultation.