The Future of B2B eCommerce: Navigating Major Trends
As we finish up 2024, sectors across the B2B eCommerce landscape are witnessing transformative shifts. We are constantly being influenced by rapid technological advances–of course AI–changing market demands, and the availability of innovative new technology.
There’s so much going on that it can be hard to keep up with it all! To recap some of the big ideas, we’ve put together a short overview for you.
Many of these trends were extensively discussed by our eCommerce Solutions Specialist, Tadhg Bowe, during our recent ‘Scaling for Success‘ event in Dublin, providing valuable insights directly from the industry’s forefront. You can find the full video of his presentation at the end of this article.
Here we’ll briefly introduce the following topics you should be paying attention to:
- Personalisation
- AI and Machine Learning
- Enhanced Checkout
- Mobile Commerce
- Self-service
We all know B2B can be complex. But we can still aim to get the basics right. Know your users. Understand 100% what they want from your eCommerce platform.
Presenting accurate product information and segmented content is a must have in today’s fast moving economy. Allowing your customers to self manage many aspects of their account online is crucial.
Tadhg bowe
eCommerce Solution Specialist
Personalisation at Scale
Personalisation is now a standard expectation in B2B markets, mirroring the customised experiences of B2C interactions. Leveraging AI and advanced analytics, companies can tailor their engagements, offering personalised product recommendations and marketing strategies that significantly enhance customer satisfaction and drive loyalty and conversions.
A huge client in the Pharma space has implemented personalised landing page views. For example, if someone in accounts is accessing their B2B page, they’re shown the billing and invoices page first. Whereas a store manager would be shown a tailored landing page with products and new promotions after logging in.
We’ve just released a detailed Playbook for personalisation in the F&B sector. Many of the tactics can be applied to any industry of course, so make sure to download your free copy of it.
AI and Machine Learning Integration
The integration of AI and machine learning continues to revolutionise B2B eCommerce, streamlining operations from customer service to backend analytics. These technologies enable more effective decision-making and operational efficiencies, with predictive analytics becoming increasingly crucial for strategic planning.
Specifically, AI is critical for fraud protection from payment gateways. Recognising unusual patterns at scale is key here. Another key use, among many others, is also search. By marrying product recommendations within search tools, though natural language processing and machine learning, users can be steered towards specific products related to their search terms.
Enhanced checkout
In B2B transactions, flexibility in payment methods, including digital wallets and BNPL options, accommodates diverse buyer preferences. Secure and efficient payment processing is crucial for building trust and facilitating smoother transactions.
Going beyond just payment methods, simplifying the often repetitive ordering process is key to increasing efficiency. In our new Apex product, the Monsoon R&D team has simplified adding entire previous orders or selecting at the line item level and adding to cart.
Tadhg goes into more detail on this feature in the short clip below.
Mobile Commerce
The growing reliance on mobile devices for business transactions makes a mobile-optimised experience essential. A seamless mobile interface supports not just accessibility but also enhances engagement, influencing purchasing decisions and strengthening buyer relationships.
A mobile-friendly experience is absolutely key, especially in in certain industries. In large warehouses, for example, tablets are heavily used. Having a mobile-optimised experience will empower your clients to easily place orders on the go.
By having a great, frictionless experience, buyers will tend to buy more often. Over time this customer loyalty will pay off.
Customer Self-Service Portals
Empowering customers through self-service portals facilitates a more efficient purchasing process and enhances customer satisfaction. As autonomy becomes more prevalent, the demand for comprehensive, user-friendly self-service options is expected to grow.
This powerful feature has helped several of our large F&B clients reduced their overheads. Now their support teams have more hours in the day to attend to helping their clients grow in other ways.
Conclusion
The world of B2B eCommerce is constantly being reshaped by ongoing innovations and evolving buyer expectations. Businesses that embrace these trends will find themselves well-equipped to succeed in this competitive market.
Embrace the future by integrating these trends into your B2B ecommerce strategy, ensuring your business remains at the cutting edge of industry developments.
For a consultation on your B2B eCommerce journey ahead, schedule a quick, no obligations Assessment with our expert team.
Below is the full video from Tadhg Bowe‘s presentation in Dublin on June 6th, 2024, about B2B eCommerce Trends and Insights.
