In what seems like an always present fact, B2C has remained at the forefront of meeting buyer expectations. Payments are simple and diverse, websites are advanced and many companies offer same day delivery as standard.

Meeting the expectations of B2B E-Commerce buyers though has traditionally been far more of a challenge. Despite the fact that 95% of buyers want to purchase on net terms, for example, offering this on digital channels has lagged behind for years. Websites in B2B E-Commerce also tend to be clunky or disorganised, leading to frustrated customers and even lost sales.

Yet modern B2B buyers now anticipate a purchasing process that is seamless, efficient, and personalised. In other words, an experience that resembles B2C-level purchasing.

One of the core reasons for this is simply a demographic shift in B2B buyers. The fact is, a growing proportion of B2B buyers are now Millennials and Gen Z expecting a fast and easy purchasing experience. Of course, technological advances and even COVID have also influenced this shift, which we’ll get to in a moment.

The end result? B2B E-Commerce businesses must offer a B2C-level purchasing experience to thrive. But how?

In this article, we’ll be exploring why B2B purchasing expectations have changed and how you can ensure your purchasing experience is in top form to help grow your business.

Why B2B E-Commerce Buyer Expectations Have Changed

• Demographic Shifts: A significant factor driving the change in B2B buyer expectations is the increasing influence of Millennials and Gen Z, accounting for 63% of the workforce - a generation accustomed to seamless B2C purchasing experiences. These younger buyers prefer digital channels and are familiar with services like Klarna and AfterPay, leading them to expect similar convenience and flexibility in their B2B transactions.

• Technological Advancements: The rapid evolution of technology has also played a crucial role in transforming B2B buyer expectations. With advancements in AI, big data, and e-commerce platforms, buyers now have access to sophisticated tools that allow for comprehensive product research, personalised recommendations, and streamlined purchasing processes. Gartner predicts that by 2025, 80% of B2B sales interactions between suppliers and buyers will occur in digital channels, highlighting the shift towards a more technologically driven purchasing environment.

• Impact of COVID-19: The COVID-19 pandemic accelerated digital transformation across industries, fundamentally altering B2B purchasing behaviours. With lockdowns and social distancing measures in place, businesses had to adapt to remote work and virtual interactions. According to McKinsey, 70-80% of B2B decision-makers now prefer remote human interactions or digital self-service over traditional face-to-face interactions. This shift has led to an increased demand for robust online purchasing platforms that can deliver a seamless and efficient buying experience, similar to what buyers experience in the B2C sector.

Tips to Provide a B2C-Level Experience in B2B E-Commerce

It’s clear then that offering a B2C-level experience when interacting and buying from you should be a priority. But how can you begin to make those changes? And where should you start? Here are our tips for achieving this:

‍Offer a B2B Purchasing Experience They Actually Want‍

Optimising your payment solutions for B2B E-Commerce is a strategic move that can significantly enhance your business operations. Fundamentally, 95% of business buyers prefer to pay on net terms, allowing them to receive goods or services immediately and pay at a later date (typically within 30, 60 or 90 days). This flexibility is crucial for buyers that need to manage cash flow effectively. By offering net terms, you cater to the financial needs of your customers, making your platform more attractive and competitive.

But what’s in it for you, the seller?

The reality of traditional net terms often results in the seller picking up the administrative slack, financing the sale and taking on the credit risk. While net terms might be the preferred payment method for buyers, the end result is a less-than-ideal situation for sellers, often leaving them to take on all the risk. Offsetting these challenges, therefore, is crucial and as a result many sellers have turned to B2B BNPL for the answer.

When you offer net terms to your customers via a platform like Two, for example, you’re essentially avoiding the pitfalls of traditional payment terms. Here’s how:

• The highest credit limits: The more money a customer has access to, the more likely they are to make large purchases. Two’s B2B payment solutions are supported by our world-leading credit and fraud engines, giving your customers the best credit limits possible. And with a 90% acceptance rate, you can also accept more customers overall. Norway’s premium Apple reseller enjoyed these benefits from day 1, accepting 100% more customers by using Two.

• The best B2B purchasing experience: Applying for net terms has always been a tedious process, often requiring days or weeks for identity and credit checks. With Two, your customers verify their identity right there at the checkout, helping to increase conversion rates by +20% and improve the overall purchasing experience.

To learn more about how Two can help you grow your business, make sure to book a demo today!

Leverage Personalisation

The push towards more personalised shopping experiences in B2B E-Commerce is becoming increasingly sophisticated. Leveraging customer data for tailored product recommendations and content personalisation is now a staple of the B2B online shopping experience.

For example, a McKinsey survey found that customers prefer personalised experiences, with 67% expressing frustration when this doesn’t happen. This trend not only improves customer satisfaction but also enhances conversion rates and fosters customer loyalty. As a response, businesses are increasingly using AI and analytics to understand customer preferences and customise the online shopping experience to meet their specific needs.

Despite this shift, however, 40% of B2B companies report that personalisation is a significant challenge, indicating both the complexity and the opportunity for growth in this area. Winners in this area will be businesses that are able to solve effective personalisation for B2B selling.

While personalisation may be difficult to accomplish in B2B, around 68% of B2B companies use behavioural and transactional data to drive personalisation on their websites. The most effective personalisation tactics in B2B include personalising site search results, payment and shipping options, and product recommendations.

Top tip: Implement a robust customer relationship management (CRM) system that collects and analyses customer data. Use this data to create hyper-personalised email campaigns and website experiences that cater to the individual preferences and purchasing history of each B2B customer.

Streamline Your User Interface

A cluttered and confusing user interface can be a major turn-off for B2B customers. They need to find what they're looking for quickly and easily. Simplify your website's navigation and ensure that all essential features are easily accessible. This includes search functions, product categories, and customer support options.

Consider conducting usability tests to identify any issues with your interface. Gather feedback from your customers and make necessary adjustments. A streamlined user interface can significantly enhance the overall user experience, making it more likely that clients will return for future purchases.

Implement Robust Customer Support

In B2B e-commerce, customer support is paramount. Your clients may have complex queries or issues that need immediate resolution. Offering robust customer support can set you apart from the competition. Ensure that your support team is well-trained and equipped to handle a variety of issues. Luckily, we have Andrea B. Kvam heading up our Customer Success, so we’re well looked after. 😉

Consider offering multiple channels for customer support, such as live chat, email, and phone support. This will give your clients the flexibility to choose the method that suits them best. Additionally, a comprehensive FAQ or customer support section can help address common queries, reducing the burden on your support team.

Another angle you can take is to offer a self-service portal. These platforms enable customers to independently research, compare products, and manage transactions, catering to the growing preference for digital or remote services. It highlights the importance of providing customers with the tools and information they need to make informed purchasing decisions without necessarily interacting directly with sales representatives.

But why are self-service portals becoming popular?

1. Enhanced Customer Experience: B2B buyers increasingly prefer self-service options for convenience and efficiency. Self-service portals provide customers with the ability to manage their transactions, access necessary resources, and gather information independently, without the need for direct contact with sales representatives. This autonomy in managing purchases and accessing information empowers customers and enhances their overall experience with the brand.

2. Operational Efficiency and Cost-Effectiveness: For businesses, self-service portals streamline operations and reduce the burden on customer service teams. By allowing customers to handle routine inquiries and transactions themselves, businesses can allocate resources more effectively and focus on more complex customer needs and strategic initiatives.

Foster Strong Relationships

Building strong relationships with your clients is essential for long-term success in B2B e-commerce. Regular communication and personalised service can go a long way in fostering these relationships. Keep your clients informed about new products, updates, and promotions through newsletters and personalised emails.

Consider implementing a loyalty programme to reward your most valuable clients. Offer them exclusive discounts, early access to new products, and other perks. By showing your clients that you value their business, you can build lasting relationships that drive repeat business and referrals.

To learn more about how Two can help you provide your customers with the best B2B purchasing experience, be sure to book a demo!