An extensive examination of 11 global markets and 2,000+ B2B purchasers, provide unmatched insight into the world of B2B commerce and clients' behavior, to help businesses win online.
The survey points to an increasingly digital global market where more purchases are happening online. There's an evident need and desire for smooth, integrated buying experiences across both physical and digital realms.
We've identified the critical role of self-owned digital platforms and observed a B2B client base expressing their frustration with the current mobile and app capabilities, pushing for improvements.
As purchasing journeys become more complex, it is clear that B2B providers must make greater efforts to comprehend and address the friction points that arise.
We've observed the growing significance of purpose and sustainability for B2B clients, who are demanding better service, presenting a significant challenge for B2B sellers.
In the future, ecommerce, marketplaces, and even social commerce will have an increased influence in catering to B2B clients' needs and desires.
THE KEY FINDINGS YOU NEED TO KNOW
67% OF ALL B2B CLIENTS START THEIR PURCHASE JOURNEYS ONLINE.
Does online or offline win more B2B clients? A survey reveals that the majority of B2B clients begin their purchasing journeys online. It is notable that for those with the largest budgets (+$595k), 77% begin their journeys online, the highest percentage of all budget groups. The survey includes multiple countries and confirms that regardless of the country the majority of B2B clients begin their purchasing process online.
66% OF B2B CLIENTS EXPECT A SIMILAR EXPERIENCE WHEN BUYING ON A B2B SITE AS THEY WOULD HAVE ON A B2C SITE
It is essential to remember that B2B clients are consumers too, and the majority (66%) expect a comparable experience while purchasing items on a B2B website as they get on a B2C site. This could be attributed to the merging of the lines between work and leisure activities (while a lot of people work from home), allowing B2B and B2C experiences to be directly compared.
KEY ASPECTS OF THE B2C ONLINE EXPERIENCE THAT B2B CLIENTS WANT TO SEE IN THEIR OWN JOURNEY
Results indicate that faster delivery, convenient delivery and returns, ratings and reviews, and B2B discounting are all important factors that B2B shoppers are looking for. Offers like those on Black Friday in the West and Singles’ Day in the East are huge retail events that B2B buyers expect as well. When it comes to sustainability, B2B suppliers say that they would gladly wait longer for delivery if it helps the environment, which causes a conflict between the need for speed of delivery and sustainability, both influencing the buyer experience.
71% OF B2B CLIENTS WISH THAT THEY COULD DO THINGS MORE EASILY ON THEIR MOBILE
One thing that was evident from the survey is the dominant usage of mobile sites and mobile apps in the B2B customer journey. Yet, buyers seek better mobile experiences. Most B2B clients wish that their suppliers offer a better mobile experience.
What’s clear is that while B2B buying is going online, online is increasingly mobile. Hence, offering B2B products and services via mobile-first websites and apps are crucial to the experience of the future.
Mobile tech can leverage the initial investments the company has made and enhance the overall customer experience offering a superior user experience while also driving significant business benefits. For many B2Bs, this will be vital to their future and it’s not difficult to see why. Mobile sites and apps offer a personalized and frictionless purchasing journey. The best mobile apps can deliver a checkout experience with a few taps on the screen, which improves not only conversion but also cart size and re-engagement. Utilizing technology like AR and AI can also be used in creative and innovative ways to make the products and services really stand out.
Why not explore these details more closely?
Or perhaps you'd like to reach out to us, and we can guide you through our findings personally. Regardless of your choice, we hope that you will find this news enlightening and practical. But most importantly, we encourage you to apply these insights to your strategic decisions.
