The business community, be it merchants, traders or wholesalers have always categorized their consumers as direct and indirect buyers. This demarcation has been driven by the fact that consumers tend to be perceived as those who closely engage with the brand and are influenced by traditional promotional activities such as deals and coupons. In contrast, the business buyer is assumed to be brand loyal, prefer technical features over experience, fond of extensive research and prone to follow a planned procurement process. This assumption has now been challenged.
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With the explosion of various web communication technologies, the expectations of business to business purchasers are now several notches higher. Their buying behavior has become more customer-like and more fluid. According to Forrester, around 56% of B2B customers believe they will make half or more of their business purchases online by 2017. These changing expectations mean B2B shopping experiences that are:
As a result, enterprises can no longer afford to ignore the B2B eCommerce market that is going to be worth $6.7 trillion by 2020 according to a Forbes report. Organizations need to ensure that they’re able to address the buying needs in the context of the changed expectations. Taking into consideration each of the three points mentioned above, businesses need to implement a B2B eCommerce strategy that includes the following aspects:
While the three elements explained above are must-haves to give your B2B customers a B2C-like experience. The truth remains that investing in the right B2B eCommerce solution will enable enterprises to ultimately achieve this objective. Selecting the right eCommerce framework can help with the delivery of features that can efficiently meet the dynamic needs of this unique group of customers. With Magento’s B2B solution, the business to business buying journey can be made faster and smarter. Some of its features include: scheduled re-ordering, enterprise-grade scalability, integration with 3rd party office systems and so on.
Need more convincing? Take a closer look at Magento eCommerce development services we offer.