B2B ecommerce — short for business-to-business electronic commerce — is the marketing, selling, and distribution of products from one business to another through an online or digital portal.
With an action-packed definition like that, it’s no wonder B2C gets all the attention. Here’s the thing …
While B2C ecommerce is expected to hit $2.4 trillion worldwide by the close of 2017, it’s less than a third of B2B’s $7.6 trillion.
Global B2B ecommerce gross merchandise volume (GMV) from 2013 to 2017 (in billion U.S. dollars)
Good news for merchants operating on a B2B ecommerce platform? Well, sort of. Despite the allure of big numbers …
$7.6 trillion is worthless for making real-world decisions.
Comforting? Sure. Click-worthy? Maybe. But helpful? No.
Navigating B2B in ecommerce means understanding 12 trends reshaping how B2B electronic commerce succeeds:
- Give Ecommerce for B2B the B2C Treatment
- Enhance Your Onsite Search Functionality
- Encourage Customer Ratings and Reviews
- Make Wholesale Easy on Traditional Customers
- Head Off the Deal Breakers Before It’s Too Late
- Generate B2B in Ecommerce Leads with “Agnosticism”
- Teach Commercial Insight Instead of Thought Leadership
- Provide Content for Every Stage of the B2B Journey
- Anticipate Multiple B2B Ecommerce Decision Makers
- Humanize Your B2B through Social Media
- Go Beyond “Just Business” Relationships
- Price with Both Automation and Negotiation
Guidance for B2B ecommerce growth
Shopify Plus hosts ecommerce’s largest community of Launch Engineers, Solutions Engineers, award-winning Partners, and Merchant Success program.
Those are just a few of the reasons — along with a dedicated wholesale channel for B2B sales — our merchants are growing 126% year-over-year.
1. Give Ecommerce for B2B the B2C Treatment
The rise of ecommerce has led to massive shifts in the overall B2B marketplace. Some of those changes have brought with them a host of best practices from the world of B2C:
- High-quality product images and videos
- Robust onsite search with visual merchandising
- Social proof in the form of reviews and rating
- Flexible shipping options and order updates
- Personalization based on past purchases
- Meant-for-mobile storefronts
- Online catalogs for easy browsing
- Real-time product and stock availability
- Customer service via chat and phone support
It’s no surprise, then, that B2B organizations identified adapting to the “era of empowered customers” as their top challenge; namely …
- We need to be on the digital channels customers use: 54%
- We need to reach a wider audience to sell our products: 46%
Thankfully, meeting those challenges doesn’t require guesswork. Business customers rank the following B2C capabilities as increasingly essential to their online shopping experience:
Business customers rank the following B2C capabilities as increasingly essential to their online shopping experience: Enhanced search functionality: 62%. Ratings and reviews: 56%. Personalized recommendations: 54%. Promotions and special offers: 51%. Mobile-optimized website: 41%. 69% of business buyers prefer direct payments like credit cards and online gateways over purchase orders and invoices.
- Enhanced search: 62%
- Ratings and reviews: 56%
- Personal recommendations: 54%
- Promotions and special: 51%
- Mobile-optimized website: 41%
Fortune 500 industrial supply company W. W. Grainger exemplifies this emerging overlap. After creating an account, buyers are directed to a homepage that mirrors any major B2C site. Likewise, their product pages bear all the B2C hallmarks listed above:
However, what sets Grainger apart as online B2B pioneers are three additional features. First, three purchasing programs that go beyond auto-reordering to fit the size and needs of individual businesses:
Second, a “Bulk Order Pad” that toggles between two entry options located immediately next to their search bar. And third, a robust, autocomplete search bar with “Add to Cart” options embedded:
Given that 98% of B2B buyers do at least some online research and that enhanced onsite search functionality was the number one essential — this last feature deserves special attention.
2. Enhance Your Onsite Search Functionality
If you sell a large catalog of, say thousands of car parts, it won’t be easy for customers to find what they’re seeking on your B2B ecommerce website in a pinch.
In the B2C world, site search is now a necessary function of a website. Just like an in-store sales clerk, it aids customers to find and buy the right products. That’s because ...
Customers who use site search are almost 2X more likely to convert on your site and can generate upwards of 40% of your site’s revenue.
Enhancing your onsite search for B2B customers is equally important and helps to streamline the sales process — empowering your sales reps to work in a more consultative, rather than transactional role.
Mark Roberge, HubSpot Advisor and former Chief Revenue Officer, explains:
“You know you are running a modern sales team when selling feels more like the relationship between a doctor and a patient and less like a relationship between a salesperson and a prospect.
“It’s no longer about interrupting, pitching and closing. It is about listening, diagnosing and prescribing.”
The V-Belt Guys website isn’t exactly sexy nor content heavy. But it doesn’t need to be. Instead, they put first things first.
The store uses Shopify app Live Search to enhance its onsite experience and ensure that customers can always find what they’re seeking.
Their search strategy includes three separate invitations to submit a query on the homepage, plus word auto-completion and the ability to preview product images and prices while you type:
A customer can select “See all results,” to get a full-screen experience complete with price comparisons, bigger images, and detailed product descriptions.
To increase value, V-Belt Guys provides its visitors with key search elements like:
- Part number
- Manufacturer or brand
- Part or full product title
- Product type (e.g., product use cases)
- Item details (e.g., width, function, and “number of teeth”)
Home goods seller Maykke takes a similar approach thanks to custom work from their Shopify Plus Partner, SeedCMS:
This important service offering will assure customers that your B2B ecommerce business can help them find exactly what they need in a hurry. That’s a value proposition that generates repeat purchases — something that’s getting harder to do online.
3. Encourage Customer Ratings and Reviews
Due to the rising popularity of apps like Yelp and Zomato as well as the prominent role of reviews and ratings on Amazon, B2C consumers rely heavily on user-generated content while shopping. As Yotpo’s study found: visitors who consult UGC when making purchase decisions are 166% more likely to convert than those who don’t.
That same behavior is now a major part of the B2B buying journey.
According to Demand Gen’s 2017 B2B Buyer’s Survey, which polled 283 senior-level business decision makers:
84% of buyers said they seek input from peers or existing users; 57% do so within the first three months of the buying process.
The survey also revealed that peer reviews take higher precedence over traditional sales tools like case studies and testimonials.
What this demonstrates is that your best sales rep is a happy customer who shares honest feedback about your product’s intrinsic value.
That’s why it’s important to encourage, cultivate and scale helpful ratings and reviews via third-party websites and your social marketing channels.
Nicotine River, a B2B liquid nicotine and laboratory equipment wholesaler, focuses heavily on building trust through ratings and reviews.
People are always going to trust their colleagues, friends, and family over a corporation when it comes to making both wholesale and B2C purchase decisions.
“It’s really important in B2B marketing,” Laura Ramos, VP and Principal Analyst at Forrester, “to be able to have validation for your claims that what you do is what you do, but also having customers that sing your praises and sing it to a broader audience than you can reach.”
4. Make Wholesale Easy on Traditional Customers
In the case of independent retail stores, small-to-medium franchises, and B2C outlets, some B2B buyers prefer simplicity over the bells and whistles of B2C ecommerce.
Catering to these types of buyers means offering them a digital version of the spreadsheets and faxed order forms they’re used to. Adding all the bells and whistles of B2C can become a distraction and even a detriment.
As Pierre Verrier, Director of Design and Development at Noticed puts it:
“The greatest myth around wholesale ecommerce is that it’s difficult to get your sales channel up and running. Using Shopify Plus and the Wholesale Channel is a fast and convenient way to get selling and give your customers the optimal portal to streamline their ordering process.”
For example, Beard & Blade — an Australian based seller of men’s grooming supplies — migrated from Shopify Plus after struggling on Magento to offer customers an easy to use and easy to manage wholesale portal.
On their site, visitors can apply for and gain instant access to a wholesale account, giving B2B buyers access to their own online sales portal:
Once inside, their B2B online store is mobile optimized and includes custom pricing lists built for specific customer segments:
Even better, Beard & Blade’s wholesale store operates on the same backend as their B2C store. Inventory for wholesale orders is automatically pulled from a single inventory pool and is synchronized with orders and customers in one admin for real-time monitoring and analysis.
At the same time, the turnkey, password-protected wholesale portal allows Beard & Blade to control which high-volume customers have access to:
- Select products or collections
- Fixed, percentage off, or volume-based discounts
- Minimum and maximum quantity increments
As Ben Chidiac, the co-founder of Beard & Blade, explains:
“As in retail, business customers benefit greatly from the time and effort savings of online ordering, in their own time, with full visibility of the status of their order.
Since replatforming, the company has notched impressive accomplishments:
- Retail grew 35% year-over-year
- Wholesale revenue increased 100%
- And, at $296, wholesale AOV is 5x their retail AOV of $49
Knowing what your audience wants and expects is paramount.
The Elephant Pants strikes a similar balance between B2B and B2C through their wholesale ecommerce platform on Shopify Plus. This includes a number of the B2C elements already mentioned; namely, an easy-to-find search bar, quick access to previous Orders, an online catalog for browsing, and transparent pricing:
As The Elephant Pants CFO and founder, James Brooks, explained to me:
“Initially, some of our retail partners expressed resistance to an online wholesale portal. For us, the move was about replacing our pieced-together method of phone calls and Quickbooks with something faster. For them, human guidance was still important.
“Really, we’re in it together with our sellers. We provide them with advice on purchasing and marketing, spec sheets, and POS displays.”
“Because supporting them was crucial, we brought on a great sales rep and merged the physical with the digital.”
“Today, we help 80-90% of our buyers create their orders through the wholesale channel. The terms are determined on a buyer-by-buyer basis. As a result, wholesale has doubled for us over the last two months on a per-week basis.”
McKinsey & Company’s article, “Finding the right digital balance in B2B customer experience,” puts it like this:
“B2B customers are generally happy to use digital self-service for simple, routine interactions like reordering to save time or be more flexible. Yet, when the interaction is new and complex or the stakes are high, most still prefer a real person (who also might be digitally enabled).”
Sometimes B2B needs to offer more than B2C. Sometimes, less.
In the case of resellers, small-to-medium franchises, and B2C outlets, less equals more. The simpler the order process, the more traditional your site should be. If your orders get complex — e.g., with customizations, multiple variants, or fulfillment options — the B2C treatment shines.
Everything comes down to the customers you serve. However, before we turn to serving the people who can make deals, it’s crucial to examine the people who can break them.
5. Head Off the Deal Breakers Before It’s Too Late
B2B in ecommerce is a contact sport that involves multiple decision makers at a variety of levels.
“Great salespeople,” writes Steve Benson in 9 Lessons in Enterprise Sales I Learned while at Google, IBM and HP, “have the ability to play quarterback on a deal for lots of moving parts of an organization. You need to work closely with people from Legal to Product Management, up and down your chain of command, with sales engineers, different stakeholders, and customers.”
In this sense, knowing who to look out for is just as important — if not more — as knowing who to actively pursue.
The Challenger Customer, which presents the most sweeping, up-to-date picture of B2B sales, identifies “Talkers” as the first human obstacles. Like the name implies, Talkers “are very interested in talking, but much less so in acting.” As a result:
“Core [i.e., average] reps sell to Talkers and fail, while stars sell to Mobilizers and win. It’s the key to winning the consensus-based sale.”
Moving up the “antistakeholder” chain are “Blockers”:
“These individuals are wired to avoid change and defend the status quo. They strongly prefer stability and continuity, actively avoiding (and preventing) initiatives that would bring change and disruption.”
In other words, the biggest enemy to B2B sales isn’t alternative providers; it’s stakeholders clinging to business as usual. These aren’t just individuals, but entire departments who can derail even the most promising B2B deals.
So, who are they?
To find an answer, I put the question to marketing mastermind Neil Patel. Having co-founded three multi-million dollar B2B companies and consulted with enterprises like Google, GM, Intuit, and Salesforce, his answer was telling:
I’ve seen more B2B deals fall apart on account of two departments than all the sales-and-marketing blunders put together. Those two killers are legal and IT.
“The first seems obvious, but far too many B2B merchants trust handshakes and informal thumbs up only to have everything fall apart right before the finish line. Why? Because legal wasn’t brought in until the contract was being drawn up.”
“The second — IT — is even trickier. You can have the best product at the best price, but if you can’t sync up your tech for co-marketing, wholesaling, dropshipping, ordering, or fulfilling, then often IT won’t sign off. And if IT isn’t onboard, everybody else jumps ship.”
Playing defense in B2B — especially in complex deals — means getting out in front of legal and IT from the jump. These deal-breakers shouldn’t be an afterthought but instead brought in and considered through the funnel, which is precisely what we’ll look at next.
6. Generate B2B in Ecommerce Leads with “Agnosticism”
Ten years ago, Seth Godin introduced the idea of permission marketing to describe the “privilege (not the right) of delivering anticipated, personal and relevant messages to people who actually want to get them.”
Even though Godin coined the term, the ethos of permission was far from original. How to be successful in life and how to market successfully have always had value at their core. Not value in the product per se — that should go without saying — but rather, value in advance of the product.
As far back as the early 1930s, BBDO VP and creative director John Caples wrote:
“The best advertisements are those that appeal to the reader’s self-interest, that is, advertisements based on reader benefits. They offer readers something they want — and can get from you.”
What was true then is still true today … only more so.
As applied to B2B, this means generating leads through “supplier agnostic” sales collateral. That might sound like a strange concept, but customers are inherently self-interested. The traditional method of leading with content that elevates your product, your solution, or even your value proposition makes it about you.
The Challenger Customer frames the issue powerfully:
“This is a big shift for marketers. For the majority of content types you produce, following this content strategy will shift the focus from supplier-centric to supplier-agnostic.”
In place of supplier-centric collateral, lead generation should focus on two types of problems central to your target customers’ own business:
- Problems they’re aware of
- Problems they don’t yet know exist
In the next two trends, we’ll examine exactly what this approach looks like. Here, the lesson to take on board is that B2B in ecommerce lead generation can’t start with you; it has to start with your customer.
This principle drives smart-glass manufacturer View, whose educational content leads with customer-focused benefits:
What’s more, they take the technical and make it simple:
Polycom uses a content-based strategy to funnel customers from different pain points to their products. And they build this process into the very first option on their navigation bar.
Notice how the subheadings under “I need to” relate to many of the best practices we’ve already examined:
- Understand — to educate buyers
- Select — to guide purchase decisions
- Implement — for post-transaction support
If a new customer arrives at their site, they can learn more about their own problem and potential solutions. Instead of pitching products, your goal is to develop need awareness so the buyer places a real value on solving their problem.
Of course, in many cases, stories are far more powerful than feature lists and product specifications. That’s why a great deal of the B2B marketing we do here at Shopify Plus is customer-centric rather than product-centric.
Instead of making the product the hero, our aim in storytelling is to make the business the hero:
By relentlessly zeroing in on the problems your market faces, you force yourself to not only turn away from self-centered sales and marketing but to earn your future customer’s “permission” before the sales process begins.
How? The answer is profoundly counterintuitive …
7. Teach Commercial Insight Instead of Thought Leadership
B2B is obsessed with thought leadership for what — at first — appears to be good reasons.
“By a factor of three to one,” Forester’s “Death Of A (B2B) Salesman” notes, “B2B buyers want to self-educate versus talk to sales representatives to learn about products and services.”
How far does DIY extend into the buying process? CEB now Gartner puts the number at 57%:
“On average, customers are 57 percent of the way through a typical purchase process prior to proactively reaching out to a supplier’s sales rep for their direct input on whatever it is that they’re doing.
Even more powerful for ongoing sales, 86% prefer using self-service tools for reordering rather than talking to a sales representative. In fact, by 2020, one million US B2B salespeople will lose their jobs to self-service ecommerce.
By a factor of three to one, B2B buyers want to self-educate. B2B customers are 57% of the way through a purchase before they reach out. 86% prefer using self-service tools for reordering rather than talking to a sales representative.
Those findings are truly good news. Cultivating a content-driven online presence gives you a competitive advantage in a market that’s moving more and more toward self-service.
It’s also why B2B sales rely so heavily on thought leadership. The only problem is: they shouldn’t.
This is perhaps the most startling trend, so it’s best to let The Challenger Customer present its own data:
Among the statistically nonsignificant drivers of changing customer buying direction was content ‘representing a smart or expert perspective.’
Thought leadership feels like the right approach. After all, wouldn’t being smart and having an expert perspective predispose buyers to seek you out when the time to connect comes?
Not so much.
Thought leadership may get buyers’ attention. It may even get them to stop, comment, and share. But what it doesn’t do is drive sales.
Instead, driving sales revolves around two ingredients:
- Teaching the customer something new about their own business needs or challenges
- Providing the customer with compelling reasons why it was necessary to take action
The Challenger Sale calls these two ingredients “Commercial Insight” (or, “Commercial Teaching”):
“A bit unimaginative, perhaps, but we like the saying nonetheless because it perfectly captures what Challengers ultimately must do: teach customers something new and valuable about their business … in a way that reliably leads to commercial wins.”
Where thought leadership makes buyers say, “Hmm, that’s interesting,” commercial insight makes them say, “I’ve been running my business wrong.”
Most often this means unearthing hidden costs of the status quo or opportunity costs of business as usual.
When I asked Brent Adamson — one of the authors behind both The Challenger Sale and The Challenger Customer — about the difference between these two approaches, he explained:
“Thought Leadership is interesting and newsworthy information that customers themselves likely couldn’t have discovered on their own. It teaches them something new, but it doesn’t necessarily drive action. That’s because Thought Leadership is largely focused on presenting a new idea – or showing the customer how smart you are – rather than undermining an existing idea or mindset.”
“Commercial Insight, on the other hand, is specifically designed to disrupt the status quo. It doesn’t just convey an idea of what you could be doing (like Thought Leadership) but also conveys a story around what you’re currently doing and how that might be costing you time or money in ways you never realized. It elicits an emotional response as much as a logical one.”
“The key to Commercial Insight though is making sure that whatever we teach our customers actually leads back to some unique capability that only we can offer.”
Grainger takes this approach in two ways. One, they provide a Safety Resource Center to help customers understand the hidden dangers and complex regulations governing their work.
Two, the Grainger Choice badge applies those safety standards, along with other criteria, to select products.
This one-two combination exposes customers to buying concerns specific to their business that many would have otherwise not considered. It’s an exercise in supplier-agnostic content.
In fact, making that connection is what the next trend is all about.
8. Provide Content for Every Stage of the B2B Journey
Does supplier agnosticism and the need to provide insight about your customer’s own business mean that leads no longer care about product specs and demos?
“Product information, data sheets and demos,” explains LinkedIn’s Rethinking the B2B Buyer’s Journey, “are table stakes — the baseline information necessary to be among the consideration set. But buyers also need broader information to help them on the way to making the final purchase decision.”
When buyers were asked to rank the “most important factors” that made them willing “to engage with a vendor,” their responses all surrounded the supplier-agnostic approach emphasized above:
On the other hand, when it came to buying decisions — i.e., sales content — those same respondents overwhelmingly preferred product info and demos as opposed to case studies and (once again) expert opinion:
- Product information: 35%
- Demos: 31%
- Best practices: 20%
- Case studies: 19%
- Expert opinions: 18%
98% of B2B buyers do at least some online research. 67% of the buyer’s journey is now done digitally. “Most effective” B2B sales content: Product information: 35%. Demos: 31%. Best practices: 20%. Case studies: 19%. Expert opinions: 19%.
The question isn’t what type of content B2B buyers want. The real question is when.
Take global B2B enterprise Polycom — maker of the iconic three-point conference phone and video solutions. Early this year, Polycom published the results of a 24,000-person global survey that measured flexible working practices, perceptions, and expectations. The study not only garnered major media attention but was a powerful source of leads that merchant-centric advertising no longer attracts.
Similarly ingenious is Polycom’s Polly Calm video series and downloadable “vidiquette” guide:
Both the study and Polly Calm shine as non-traditional B2B content. Neither type, however, closes deals.
As Polycom’s CMO Amy Barzdukas told me:
“Leads from those initiatives were nurtured with in-depth educational content to help them understand the value of collaboration as well as how to evaluate different solutions. This approach enabled us to build a trusted relationship for traditional, sales-focused follow up like demos and product details.”
“The benefits of creating content for each stage of the buyer’s journey are shorter sales cycles, higher conversion rates, and increases in our marketing-sourced pipeline and revenue.”
Success means getting “permission” at the top of the funnel and only then progressing down the funnel with collateral that sells explicitly.
9. Anticipate Multiple B2B Ecommerce Decision Makers
Traditionally, B2B decision makers resided in the C-suite. Win the executives, win the company. That was the logic anyway. As a result, outreach overwhelmingly targeted the upper echelon.
Today, that’s all changed.
LinkedIn’s research puts the average number groups influencing B2B decisions between 3.1 to 4.6 and identifies the following “top departments”:
The Challenger Customer raised the bar to 5.4 decision makers and their most recent findings — published on Harvard Business Review — now estimates 6.8. In addition, the authors have also charted a clear correlation between the size of buying teams and the likelihood of a successful sale:
Perhaps the worst news of all is that trying to perform an end-run by simply redoubling efforts on the C-suite is doomed to failure:
“In a survey of senior decision makers across several hundred companies … we found that the number one thing they care about most in choosing one supplier over another is whether or not that supplier enjoys widespread support across the customer organization.”
In other words, the number one thing senior decision makers care about in a complex deal isn’t the supplier company’s solution, it’s their own company’s buy-in.
Regardless of the exact number, the trend is the same: B2B merchants must adopt a consensus-building approach to sales that clearly addresses the needs, concerns, and wants of diverse groups.
How can you reach these groups? The answer lies in an unexpected source of B2B breakthrough …
10. Humanize Your B2B through Social Media
Despite its undeniable rise in B2C ecommerce, social media has remained largely a mystery to B2B businesses. Networks like Facebook, Instagram, and even LinkedIn are primarily viewed as direct-to-consumer channels.
Nonetheless, Content Marketing Institute’s 2017 B2B Report found that social media was the third “most critical” tactic B2B marketers are using:
To reinforce this, LinkedIn’s study notes that “social media and information sharing across the buyer’s organization” were the only content sources that figured prominently across the funnel:
“The fact that social media and information sharing across the buyer’s organization are top content sources shows that the B2B buying process is extremely collaborative: It is a team sport.”
Buyers are increasingly looking to social channels for information and guidance from their peers and broader networks.
While social media may not work for direct sales in B2B, it is a powerful source for both outreach as well as creating the kind of consensus that B2B decision making necessitates. Why? Because consensus is about people, and people connect with people.
“Social selling,” note Laurence Minsky and Keith A. Quesenberry Harvard Business Review’s How B2B Sales Can Benefit from Social Selling, “concentrates on producing focused content and providing one-to-one communication between the salesperson and the buyer. [T]he goal is for the rep to form a relationship with each prospect, providing suggestions and answering questions rather than building an affinity for the organization’s brand.”
In the next trend, we’ll look at a real-world example of how to form those relationships. For now, rest assured that effective social selling — creating native content for multi-channel marketing — only requires salespeople (or brands) to invest 5-10% of their time actively engaging one-on-one.
And that’s not to say “brand affinity” isn’t effective as well.
In 2015, GE created one of the most successful B2B campaigns in history through a Twitter character named the Invention Donkey:
In its aftermath, GE credited the campaign with over 3.5 million views, 200,000 social media interactions, and — above all — giving its B2B audience a human touch point to what could otherwise be a faceless 140-year-old multinational conglomerate.
Tim Roan — creative director behind the project — said, “The challenge for a lot of big companies is that it’s hard to simplify complex stories. GE is doing some very big, very important and very hard things to help make the world work, and we wanted to show that in a fun, smart way.”
The role of social media to bring together multiple decision makers is one that Troy Osinoff — who led digital marketing at the $5 billion B2B enterprise Watsco — drives home as well:
“B2B brands should be looking at social to build human relationships with the people who will ultimately decide whether to use their product or service. Your social media presence and campaigns are an opportunity to create connections with everyone, from the gatekeepers to key decision makers.”
“Social media is uniquely positioned to not only disseminate information like whitepapers and research but to connect and rally people around your brand.”
Such connections may start with a bit of fun, but they also have to progress …
11. Go Beyond “Just Business” Relationships
On the whole, B2B buyers are a pretty satisfied group. According to LinkedIn, 84% of buyers rated their relationships with vendors as either “good” (56%) or “very good” (28%). Unfortunately, vague descriptors are notoriously misleading for gauging longevity.
Far more vital is examining what B2B buyers who said their relationships with vendors were “getting stronger” identified as the source of those improvements:
Ironically, while most B2B merchants elevate “value for the money” as a top concern, customers ranked it dead last. The lesson? B2B buyers don’t want a “just business” relationship.
Easily one of the best examples of developing trustworthy, personal relationships for B2B is Michaela Alexis. In the span of two years, Alexis has become a full-fledged LinkedIn influencer with over 51,000 followers. Her posts don’t just attract huge audiences, but the right B2B audiences:
What’s Alexis’ B2B secret?
Posts, articles, and especially interactions that ooze personality:
“In September of 2016, I asked my audience to send me their company mug. The response was overwhelming: over 200 came pouring in, most of which I took pictures with and posted.”
“When Grade A Digital — the B2B agency where I’m now president — opened its doors in May, time and time again, the mugs came up. Even better, where most B2B deals start low on the food chain, ours start with leaders who feel like they have a pre-established relationship with me and by extension Grade A. Trust is built long before the sales process even kicks off.”
“Today, our biggest challenge isn’t generating leads but qualifying the companies on our waiting list. That’s a pretty great problem to have.”
The same actions can be applied to B2B for ecommerce.
Putting an authentic face to your B2B platform, alongside personal gestures that span the digital-to-physical divide, is exactly how you go beyond “just business” and create the kind of relationships your customers want.
Of course, that doesn’t mean money is irrelevant …
12. Price with Both Automation and Negotiation
According to Forrester’s latest research, 74% of B2B buyers now research “at least half of their work purchases online.” Additionally, 53% complete those purchases online as well.
What’s the implication of this increased reliance on ecommerce?
“Today’s B2B buyers insist that B2B eBusiness and channel strategy professionals match B2C companies like Amazon by incorporating B2C tenets of price transparency, immediacy, and convenience into their core buyer experiences.”
As we've already seen, this doesn’t mean that B2C and B2B experiences are one for one. The keyword in Forrester’s appraisal is “price.”
For instance, Louis Columbus explains on Forbes:
“Selling decisions made at the beginning of a given quarter are going to be different than those made at the end, as sales managers often choose to accelerate deals into the closing quarter with special pricing options.”
“Enabling dynamic pricing and approvals — even when selling through multi-tiered channels — dramatically increases the deal velocity without losing control. Many manufacturers are also adding in CPQ [configure-price-quote] to provide customers with a personalized experience and the opportunity to get solutions configured for their unique needs.”
The balance here is about price personalization that’s automated (i.e., dynamic) for buyers in the research phase and negotiated for those closer to purchase.
All of this is good news for B2C merchants thinking about moving into B2B or wholesale. Instead of recreating the wheel, a compelling B2B site should integrate the best-practices your existing site already provides.
To segment the two audiences, Shopify Plus makes creating multiple storefronts easy. In addition, apps like Locksmith enable you to password protect not only specific product collections but also to create subscriber-only sales and content.
For the first — automatic pricing — Shopify Scripts offers a simple solution by removing the need for discount codes. Scripts can be used to automatically adjust prices in real-time based on factors like quantity, size, customer tags, and product combinations:
For the second — negotiated deals — pricing must be tailored on a buyer-by-buyer basis. This includes …
- Creating multiple price lists for fixed, percentage, or volume discounts
- Applying those lists to individual customers or groups
- Setting minimum, maximum, and quantity increments per product
- Establishing minimum purchase amounts storewide or per customer
- Reviewing draft orders before invoicing for negotiated deals
- Integrating loyalty and reward programs automatically
The central theme is personalization: the flexibility to allow different customers to see and select different pricing.
To accommodate this, Shopify Plus’ wholesale channel has three types of pricing lists, which can be used to create as many or as few lists as your business needs:
Each list can then be applied either to individual customers or customer groups — e.g., “Gold-level-customer” and other tags:
These type of features are why, as Columbus puts it, “The most successful [B2B merchants] so far are relying on born-in-the-cloud B2B e-commerce platforms that scale to support entirely new e-Commerce strategies.”
Guidance for B2B ecommerce growth
Shopify Plus hosts ecommerce’s largest community of Launch Engineers, Solutions Engineers, award-winning Partners, and Merchant Success program.
Those are just a few of the reasons — along with a dedicated wholesale channel for B2B sales — our merchants are growing 126% year-over-year.
The Future of B2B Ecommerce
For all its complexity, the opportunities are enormous. Succeeding online means taking advantage of an emerging world that mixes B2C best-practices with both traditional and non-traditional B2B tactics.
For all their deceptive comfort, big numbers are meaningless. What matters is connecting with, listening to, and serving the faces behind B2B’s $7.6 trillion ecommerce market.
At the heart of each and every trend listed above lies a single principle that borders on cliche: put your customer first.
Cliches, however, are cliche for a reason. They’re true.