Forrester forecasts that B2B ecommerce will account for 17% of all B2B sales in the US by 2023, reaching $1.8 trillion.
That’s an anticipated compound annual growth rate (CAGR) of 10% for B2B ecommerce. It represents a major opportunity for businesses that are ready. However, up to 60% of US manufacturers and almost 40% of wholesalers have yet to launch an ecommerce site.
Here we take a look at how Cloudfy can help US businesses prepare for an exciting B2B ecommerce future.
Round the clock self-service
Millennials who have grown up with online ordering are becoming more involved in B2B purchasing. They expect the same flexibility they find in retail online shopping.
With Cloudfy you can set up your online shop to fit perfectly with your brand knowing that you also have all the power of an ecommerce solution designed for B2B ecommerce. Your buyers can access their account at any time and from anywhere, using any device. Importantly, your younger buyers will probably complete most of their research online before contacting you directly. If they don’t find you online easily, they won’t be picking up the phone.
If you have had a B2B ecommerce platform for several years, there is something else you should consider. Almost 60% of Millennial buyers will stop doing business with a B2B company if their ecommerce experience is difficult to use on mobile devices.
A seamless experience
Very few people are impressed by clever online technology anymore. What will catch your buyers’ attention is a seamless, intuitive online experience. They want ecommerce tools that make their purchasing easy and hassle-free.
Cloudfy comes with integration to all the major business systems, straight out of the box. This means you can offer your customers an online login to your site to view their transactions all the way from their initial enquiry through to delivery.
Integration with your ecommerce site will also eliminate the need for time-consuming manual re-entry of information. This will improve your efficiency and reduce the risk of errors. Your customers will have confidence in the service you provide and won’t need to make as many enquiries to your sales team.
You need to be easily found online, so your B2B website needs to be optimised for search engines. That might sound obvious, but with more and more voice activated devices available (like Siri, Alexa or Google Home), you need to be ready for a shift to voice activated searches.
It’s already having an impact in the consumer marketplace and B2B will follow soon. Gartner predicts that around one third of all searches will be made without a screen by 2020.
Cloudfy is ready. You can optimise your website for SEO with the platform to make sure you keep up with changes in organic search.
Turning data into intelligence
Almost 80% of Millennial buyers expect B2B sellers to create personalized purchasing journeys, based on their buying history.
Artificial intelligence (AI) and machine learning are going to have a major impact on customer experience. AI will also improve your efficiency and profitability in an increasingly cost-sensitive market place.
AI is behind a new generation of search tools. For example, there is a mobile app with image recognition that can launch a search based on a photograph taken on a smartphone. It will deliver relevant results based on the image and your buyer’s purchase history.
Cloudfy has been exploring the potential of AI for B2B ecommerce for some time, so you can be ready to improve your performance with the latest technology.
If you want to be ahead of the crowd, discover the full potential of Cloudfy for B2B ecommerce. Book a free demonstration today.