It is not clear why B2B ecommerce is often compared to B2C, given the different experiences for consumers and the underlying infrastructure for selling products online. Yet the comparison continues, with many B2B companies concerned that they cannot fully monetize the ecommerce channel. In fact, 65% of B2B leaders said ecommerce will be disrupted for their organization by 2024. State of B2B Ecommerce Report with Forrester Consulting and Zoovu.
These decision makers are trying to make a change, as 74% of the survey participants recognize the importance of digital transformation of the sales process. But they are often frustrated by ecommerce platforms that cannot handle the complexity and volume of their product data.
For many of these businesses, especially those with a large number of products, it is difficult to maintain complete, clean and up-to-date product information online. It is not uncommon to see product information stored using various formats such as catalogs, PDFs and both printed and digital sales brochures. Ensuring the consistency and accuracy of product information across all these formats is impossible without a dedicated team tasked with monitoring hundreds, if not thousands, of SKUs. As a result, only 4% of B2B companies make all of their products available online, leaving money on the table.
However, there are ways for B2B companies to improve the performance of their ecommerce platforms. Before we address that, let’s first understand how we got to this point by taking a closer look at the history of ecommerce.
The Problem with Comparing B2B and B2C Buying Experiences
For a long time, the assumption was that B2B would follow the path of B2C in bringing shopping experiences online. Consumers are primed to expect an easy, self-service online shopping experience, regardless of product or platform. One click isn’t new anymore, it always is. This is because most consumer products sold online tend to be cheaper and more expensive than B2B products.
For example, the risk of buying an ill-fitting sweater cannot be compared to buying the wrong medicine.
However, customer satisfaction permeates the B2B experience. Businesses that really understand the online shopping process often involve research, an approved purchase order, a complex supply chain and working with a qualified sales professional to generate a quote.
For today’s consumers, however, it is human nature to expect the B2B buying process to be optimized. Unfortunately, optimizing the process is where it gets cut the most, but it’s not for lack of trying.
Many attempts at automated self-service have failed in B2B. It has worked to maintain personal touch. In these areas, B2B ecommerce makes it easier for customers to conduct research on the seller’s site and shorten the selection process. However, one is often required to cost, price and take a purchase order. For example, purchasing replacement parts for industrial equipment often requires the skills of a live salesperson.
Then came AI. Can it replace your best seller? Not really. Not now.
The AI ​​Supports B2B Ecommerce
While most discussions of AI are focused on the future, B2B businesses see it as a way to augment as opposed to a replacement they are seeing as important.
AI can help a B2B retailer automate traditional and repetitive tasks that are part of their job. For example, AI can take a customer into a pre-qualification process using smart agents and shorten the product selection process before putting a live salesperson on the line. The salesperson can respond to qualified questions quickly, with a wide range of services and attention to detail, making them valuable to customers and their employers.
AI can also solve the issue of inconsistent product data by creating copy, thus eliminating paper-based formats while redirecting customers to the company’s website as a single source of information.
These two examples can be valuable time savers, enabling B2B companies to make their e-commerce channels more profitable. But before they can see the benefits, businesses need to make sure their infrastructure and data are ready for AI.
Get Ready to Make the Most of AI
Based on interviews with top decision makers, here are three ways B2B companies can improve the ecommerce experience for customers:
1. Clean up your product data. Creating a sales contract based on inconsistent or inappropriate product data is risky on a good day. Before AI can bring any benefits, clean your product data.
2. Integrate product data with key stakeholders in the supply chain to create better online customer experiences. No one likes to be informed after a purchase that the product is not available. This is especially true in B2B, where online shopping is difficult and many customers are buying a multi-part product. By having supply chain information and automating the day-to-day processes, salespeople and customers alike will not be caught up in the management of potential issues.
3. Use AI to optimize customer recommendations. Once the product data is cleaned and the inventory is accurate, AI can be used to make personalized recommendations based on the customer’s needs. This is usually a combination of creating AI working with quality data to walk the customer through the search and discovery process, creating a CPQ, and explaining why certain products are a good match for the customer’s existing and/or future products.
While B2B ecommerce is not a one-click experience, there is still plenty of room to improve the status quo. First, B2B companies should not compare their ecommerce channel with the B2C experience. Second, manage the underlying infrastructure by making sure the data is clean and accurate. Third, use AI to automate and remove unnecessary barriers to online sales. Combining proven ecommerce best practices with innovative technology closes the missed opportunity gap for B2B companies.
Jonathan Taylor is the CTO at ZooAI-powered product discovery and ecommerce information platform. He is a technology veteran with over 15 years of experience using tech and data to drive business growth and innovation. His background is in software engineering and computer science. Prior to Zoovu, Taylor worked in C-suite roles at SmartFocus, Sentillian and 3i-MIND, where he focused on personal, real-time interactions and innovation.
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