November 10, 2020
With 2021 fastly approaching, it’s important to stay ahead of the curve. Technology is vastly changing how traditionally B2B industries, like manufacturing, sell. Getting your B2B eCommerce up to speed will ensure you’re able to continue navigating how technology is advancing your industry into 2021 and beyond.
B2B eCommerce trends in 2020 lent themselves to improving the customer experience to better resemble their B2C counterparts. An emphasis on customization, advanced tech, and less human interaction have all been key players in how you can continue to strive towards B2B eCommerce best practices in 2020 and 2021.
If you needed convincing, there is data to suggest that companies prioritizing customer experience achieve stronger financial results than their counterparts who may view customer experience as an afterthought.
And of course, we all know the common statistic that it’s five times costlier to acquire a net new customer than retaining a returning one.
So if you’re going to focus on strategizing and implementing a better experience for your customers, this is the best place to start.
This quick-reading download walks you through the top 10 reasons that customers choose us for their CPQ. From our 2D/3D visualization and robust rules engine technology, to our great people, learn about the qualities that make KBMax used and loved by over 10,000 customers globally.
We’re seeing a shift to an omni-channel marketing and selling approach as social media and other outlets gain the tech to sell directly to the consumer. B2C eCommerce is already starting to make this transition, and B2B will quickly follow.
Cat saw this trend coming, and decided to create The Cat Dream Dozer to build awareness, educate customers and drive new prospects using KBMax. This interactive design game allowed users to create their very own D6 machine with real options, then personalize it by selecting special “Fantasy Add-ons” to create their very own #DREAMDOZER!
Utilizing an omni-channel approach allows you to target customers where they are already at, making it easier for them to convert!
B2B buyers are expecting a more personalized approach as fancy algorithms and automation become the norm. In fact, personalization is in the top five priorities for B2B buyers in 2020.
Personalization means sending abandoned cart emails, developing retargeting ads, customizing search menus, recommending products and even instant transaction notices via SMS All of this falls under personalization, and it’s more important than ever in curating the best B2B ecommerce experience.
Search out eCommerce and CRM platforms like Salesforce to gain the ability to execute on these personalization strategies.
Displaying pricing on your website might seem pretty risky, but honestly, it’s beginning to become expected by B2B buyers. Luckily, by implementing tools that show pricing change dynamically based on how a product is configured or customized, you can show that pricing without having to worry about any discrepancies–it’s all right there for your customer automatically!
Teledyne was having this exact issue. Their salespeople were using Excel to manually calculate pricing for their products based on the customer’s configuration. Naturally, this led to errors. By implementing the KBMax workflow engine behind the scenes, their pricing and visuals can happen accurately in real-time in front of the customer.
While B2B buyers are de-prioritizing human-based interactions during the sales process (like formal sales calls, showroom tours, etc), they are still expecting a similar hands-on approach to their customer experience. Customers expect the ability to ask a question and get immediate results, 24/7.
This is where Chatbots come in. By utilizing an automated, AI-based chatbot like the ones offered by Salesforce, your customer can gain the information and support they need to convert. Chatbots can also help you reduce the workload from your sales or support people!
Visual CPQ allows your customers to configure your product exactly how they like it as according to their specifications. This gives your customers the confidence to convert right there and then (and therefore a better customer experience).
to let their customers experience the product first hand, all from a virtual interface. Their KBMax configurator used 3D animations and interactions, measurements and materials, pre-defined layouts, and algorithms to understand what was feasible for their product. Plus, the configurator was embedded directly onto their site to allow easier access for their customers.
As technology continues to advance into the 4th Industrial Revolution, we’ll see the adoption of more easily accessible VR and AR, more voice recognition, influencer-focused marketing, and even more agile product management happen. For now, just getting a handle on a dynamic and personalized customer experience will ensure your organization will have the B2B eCommerce foundation it needs to maintain momentum into 2021 and beyond.
Lauren has over 11 years of marketing experience and has learned from industry experts at companies like HP and Salesforce.