Have you noticed customers leaving for your competitors? It might be time to check whether you're digitally mature enough for them
B2B ecommerce has grown significantly in the past few years, with more and more businesses embracing digital commerce. This growth has been driven by the rise of digital-savvy customers who expect to be able to complete their entire buying journey online. Recent research found that:
- 87% of B2B buyers say that they would pay more for a supplier with an excellent ecommerce portal
- 90% of B2B buyers report that companies could lose their business if their digital channels don’t keep pace with their needs
Does that sound familiar to you?
If you're experiencing higher levels of customer churn than you'd like, it could be time to take a look at the buying experience you're offering your customers. Is it modern, seamless, and frictionless? In other words, have you got the right kind of tech on board to facilitate a fantastic customer experience?
Let's explore why B2B businesses may lose customers if they don't have an innovative, purpose-built ecommerce platform on board to truly enhance the buying experience.
Your customers are digital-savvy - they expect to be able to complete the entire buying journey online
Your customers expect to be able to research products, compare prices, place orders, and track shipments all from their desktop or mobile device. If your organisation can't provide this seamless, end-to-end experience, customers will quickly lose interest and move on to a competitor who can. They will find a supplier who can provide the experience they're looking for, then switch their loyalty.
The B2B landscape is highly dynamic - you need the right tech to keep up
In the world of B2B, new challenges and opportunities are emerging all the time. In order to keep up with these changes, your business needs to be agile and adaptable. When you bring an advanced ecommerce platform onboard, you’ll ensure you stay ahead of the curve by providing the tools and functionality you need to meet new challenges head-on. If you can't keep up in the fast-changing B2B environment, your customers will notice and wonder why.
Your customers need to know that you're committed to a digital transformation journey
In today's digital age, digital transformation is essential if your business is to remain competitive and relevant. B2B businesses must embrace new technologies and platforms if they are to keep their current customers and attract new ones. That's why you need the right B2B ecommerce platform on board, as it will provide the foundation for this transformation. Investing in the right tech will enable your business to streamline its operations, improve its customer experience, and ultimately boost both customer loyalty and revenue.
Is your ecommerce strategy aligned with the times?
A crucial first step in developing a digital ecommerce strategy is to find out where you're at right now. To help, we've developed the B2B Ecommerce Maturity Quiz - a simple and effective tool to help you assess your level of digital maturity and determine whether your ecommerce strategy and tools are aligned with the ever-changing B2B landscape. By identifying how technically mature your B2B business is, you'll gain valuable insight into its performance and discover areas for improvement.
The upshot is that if your B2B business fails to keep up with technological advances, you risk losing customers to those competitors who are willing to innovate and use tech to create a customer-centric buying experience that keeps customers’ needs front-of-mind at all times.
Ready to find out how digitally mature your B2B business is? Take the quiz now.