Three Reasons You Should Be Launching a B2B Digital Commerce Channel Now

Launching a B2B digital commerce channel is vital for staying competitive, meeting customer expectations, and driving growth. It enables businesses to tap into new revenue streams, reach broader markets, and improve efficiency through automation.

Additionally, it provides valuable analytics for better decision-making and marketing strategies. To fully understand the importance of launching a B2B digital commerce channel, let’s explore these key benefits in more detail.

Changing Customer Expectations

B2B customers’ expectations are rapidly transforming, shaped by their B2C experiences. Nearly 90% now expect seamless, omnichannel service akin to what they receive as consumers. With millennials and Gen Z dominating the workforce, demand is rising for user-friendly B2B eCommerce platforms resembling B2C convenience.

Almost half of millennial buyers prefer avoiding sales reps, favoring frictionless digital experiences. Amazon Business has also set a new standard, causing B2B buyers to seek broad product ranges and high-quality service. To stay competitive, companies must prioritize digital commerce channels that meet these evolving demands.

Unlocking Revenue Streams

Launching a B2B digital commerce channel unlocks opportunities for businesses to tap into new revenue streams. Leveraging search engines, online stores, and social media allows companies to reach untapped customer segments and significantly boost revenue. Online sales of unique products and services become more accessible, enabling global transactions without physical stores.

Digital events, like webinars, can engage potential customers and drive immediate value. Subscription-based services and paywalls retain revenue while streamlining repurchases. With the B2B eCommerce market projected to hit $36 trillion by 2026, businesses that embrace digital commerce can capitalize on this growth and propel their success to new heights.

Efficient Buying Process

Streamlining the buying process is essential for businesses launching a B2B digital commerce channel. Implementing online sales portals with features like reorder buttons, saved order lists, and 24/7 self-service capabilities can significantly improve the efficient buying process for B2B customers.

By automating sales and business processes, such as order processing, inventory management, and invoicing, companies can reduce operational costs and enhance the customer experience. To further optimize the buying process, consider the following:

1. Streamline workflows using technology like CPQ software to simplify product configuration, pricing calculations, and quote generation.
2. Provide efficient navigation and precise product information to help B2B buyers quickly locate specific products, especially on mobile devices.
3. Offer automated processes, such as contract signing and payment systems, to eliminate the need for traditional methods and speed up the sales cycle.

Reaching More Buyers

Expanding reach and attracting new buyers is a key benefit of launching a B2B digital commerce channel. An online platform connects businesses with customers worldwide, bypassing geographical and time constraints. Operating 24/7, websites showcase products and services to a broader audience without relying on in-person interactions.

Digital strategies like social media campaigns, targeted ads, and content marketing help reach new markets across time zones. With nearly 50% of companies expecting most clients to shift online within three years, the shift is clear.

Automated Processes
Automating sales and business processes is a significant advantage of launching a B2B digital commerce channel. By eliminating manual errors and streamlining workflows, automated processes can reduce operational costs by up to 64%.

Implementing solutions like CPQ software simplifies product configuration, pricing calculations, and quote generation, leading to fewer errors and a faster sales cycle. Here are three key benefits of automation in B2B digital commerce:

1. 24/7 ordering and self-service features enhance customer experience and reduce manual intervention.
2. Automated data gathering, contract management, and document signatures free up employees to focus on more critical tasks, boosting productivity and engagement.
3. AI-driven solutions, such as chatbots, provide quick and efficient support, improving response times and overall customer experience.

Global Growth Opportunities

Launching a B2B digital commerce channel unlocks global growth opportunities by overcoming the limits of conducting business during business hrs/geography, time zones, and in-person sales.. A well-designed website with intuitive navigation, local languages, and currencies attracts worldwide customers and supports global shipping—without the need for offline investments.

An online presence enables you to engage new markets and time zones 24/7, surpassing in-person constraints. The potential is immense – global B2B eCommerce projected to hit $36 trillion by 2026.

Improved Customer Experience

In addition to unlocking global growth opportunities, a B2B digital commerce channel significantly enhances the customer experience. Implementing a digital platform ensures personalized online experiences that meet the high expectations of B2B purchasers, with 89% expecting the same level of customer service as B2C offerings. By providing a seamless, user-friendly interface, businesses can improve customer satisfaction and loyalty. To achieve this, consider the following:

1. Mobile optimization: With 42% of B2B researchers using mobile devices during the purchasing process, ensure your platform is optimized for mobile use.
2. Efficient navigation and search capabilities: Enable customers to locate specific products quickly and efficiently, enhancing their overall experience.
3. Automated processes: Streamline the buying experience by automating order management, invoicing, and payment options, reducing operational burdens and improving customer satisfaction.

Strengthening Marketing Channels

By adopting a cross-channel e-commerce strategy, businesses can enhance their marketing efforts and deliver consistent experiences across devices, meeting the needs of modern B2B buyers. Aligning sales and marketing processes fosters collaboration, enabling marketers to create more targeted messaging while helping sellers engage leads at the right time. Incorporating social media into an omnichannel approach helps guide customers, build relationships, and convert subscribers into leads.

Embracing automation in your B2B digital commerce channel is crucial for staying competitive in today’s market. By streamlining processes, reducing errors, and enhancing customer experience, you can position your business for success in the digital age. Don’t miss out on the opportunity to optimize your operations and better serve your customers – start incorporating automated processes into your B2B digital commerce strategy today.

It’s Time to Make Your Move

The future of B2B commerce isn’t coming—it’s already here. Businesses that embrace digital transformation are already reaping the benefits: greater efficiency, expanded market reach, higher customer satisfaction, and stronger revenue growth. Launching a digital commerce channel isn’t just a tech upgrade—it’s a strategic move that sets the stage for long-term success.

Ready to get started? Tell us a little bit about your company, the challenges you are looking to solve, and we’ll be in touch right away. Follow our blog and subscribe to our communications for more tips and trends on digital transformation and B2B commerce.