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INDUSTRY REPORT 2019 Leading Vendors to the IR Top 1000 E-Retailers

B2B Commerce: 2018 the Year of Growth

B2B Commerce: 2018 the Year of Growth

Over the past couple of years, B2B retailers have made significant movement towards reinventing the digital commerce experience. The New Year is here which means now is the time to put your plan into action and meet the ever-growing demands of today’s modern buyer.

Much like the typical retail shopper, B2B buyers don’t think about the various channels or verticals as different experiences. It’s all one experience, and if you miss the mark, chances are your prospective buyer will go elsewhere.

According to DigitalCommerce360.com, “almost 90% of B2B company executives expect growth to come from digital commerce.” This means the majority of B2B companies are making the push to drive more revenue through digital channels, positioning the customer experience as the main differentiator in a world that just got a lot more competitive.

Not to mention, Amazon has made their way into the B2B commerce market through their Amazon Business offering, already acquiring over one million business customers.

The good news is, B2B retailers still have an edge to stay competitive.

Prioritizing personalization as a strategy and not a tactic, no matter what level of maturity you’re at, will be important for long-term success. It is a must-have feature of the customer experience.

DigitalCommerce360.com defines, “B2B Personalization. A Website should provide a commerce experience that is unique to each customer and accommodates her needs and preferences. If designed to enable B2B businesses to integrate data from CRM, sales, service and commerce interactions, an e-commerce platform can offer a single lens of the customer across channels. This 360-degree view ensures B2B organizations can provide tailored offers, personalized recommendations, and respond more quickly to changing buyer habits.”

How personalization improves the buying experience:

  • Ability to leverage behavioral data and predictive analytics to personalize experiences at the account and individual buyer levels
  • Simplify the buying and replenishment process
  • Increase product discovery and findability
  • Optimize field rep’s sales productivity and ability to cross-sell, upsell and introduce new products
  • Better support procurement and supply chain process

Making the buying process easy, intuitive and personalized not only increase revenue but increases the customer’s lifetime value. Deliver a differentiated experience for your buyers to keep them coming back over and over again.