{"id":466,"date":"2024-10-29T11:00:00","date_gmt":"2024-10-29T11:00:00","guid":{"rendered":"https:\/\/internship.infoskaters.com\/blog\/2024\/10\/29\/getting-b2b-ecommerce-right-heres-what-i-learned-from-experts\/"},"modified":"2024-10-29T11:00:00","modified_gmt":"2024-10-29T11:00:00","slug":"getting-b2b-ecommerce-right-heres-what-i-learned-from-experts","status":"publish","type":"post","link":"https:\/\/internship.infoskaters.com\/blog\/2024\/10\/29\/getting-b2b-ecommerce-right-heres-what-i-learned-from-experts\/","title":{"rendered":"Getting B2B Ecommerce Right \u2014 Here’s What I Learned From Experts"},"content":{"rendered":"

B2B ecommerce is a thriving industry. Growing at a rate of over 10% each year, B2B ecommerce will generate over $3 billion in sales by 2027<\/a>.<\/p>\n\n

However, no matter how familiar you are with B2C (business-to-consumer) ecommerce, selling to businesses is an entirely different beast.<\/p>\n

<\/a><\/p>\n

I wanted to find out how exactly B2B ecommerce strategies differ from B2C ones, the different types of B2B ecommerce channels, and how to successfully market a B2B business, so I talked to the people who know it best.<\/p>\n

Here\u2019s how to get your B2B ecommerce strategy right, according to industry experts.<\/p>\n

Table of Contents<\/strong><\/p>\n

What is B2B ecommerce? <\/a>
\n Types of B2B Ecommerce<\/a>
\n B2B Ecommerce vs. B2C Ecommerce<\/a>
\n 3 Top B2B Ecommerce Marketing Strategies<\/a>
\n B2B Ecommerce Examples<\/a> <\/p>\n

<\/a> <\/p>\n

<\/a> <\/p>\n

B2B Ecommerce vs. B2C Ecommerce<\/h2>\n

There\u2019s more than just a single-letter difference between B2B and B2C ecommerce. Everything from sales to customer acquisition to ecommerce trends<\/a> is different when you\u2019re selling to businesses online.<\/p>\n

To better understand how B2B ecommerce<\/a> differs \u2014 and can be more challenging \u2014 I spoke to a few experts.<\/p>\n

Buying Cycle<\/h3>\n

For starters, the B2B ecommerce buying cycle is much longer than B2C.<\/p>\n

Steve Hutt<\/a>, the founder of eCommerceFastlane<\/a>, suggests the process can stretch anywhere from three to nine months, depending on the industry. There are several reasons for this.<\/p>\n

For one, B2B ecommerce involves multiple decision-makers. Even if you\u2019re only in contact with one person, they need to get buy-in from their team.<\/p>\n

Instead of selling to a single customer with a single need, you\u2019re essentially selling to a team of people who may have multiple challenges to address. The approval process can take time on their end, which means B2B sellers also need to be flexible.<\/p>\n

\u201cThis extended timeline requires patience and a strategic approach to nurturing leads,\u201d says Hutt.<\/p>\n

Order Value<\/h3>\n

Another key difference is the average order value (AOV). When you\u2019re dealing with higher-priced goods or services or bulk orders through wholesale, each sale carries more weight. Where sales volume might be the goal in B2C ecommerce, order value is prioritized in B2B ecommerce sales.<\/p>\n

\u201cAccording to recent industry data, the average B2B order value sits at $491, compared to the average B2C order of $147,\u201d explains Hutt. \u201cThis higher value reflects the bulk purchasing common in B2B transactions and underscores the importance of each sale.\u201d<\/p>\n

Pricing<\/h3>\n

Similarly, pricing is also a major difference between B2B ecommerce and B2C. B2C customers typically expect a straightforward, fixed price on whatever they\u2019re purchasing, whereas B2B pricing structures are more fluid, suggests Gianluca Ferruggia<\/a>, the general manager at online B2B marketplace DesignRush<\/a>.<\/p>\n

\u201cWe’re often adjusting prices based on volume, specific contract terms, or ongoing negotiations,\u201d says Ferruggia. \u201cThis makes transparent pricing a real challenge, and is a stark difference from the B2C world.\u201d<\/p>\n

Onboarding Process<\/h3>\n

Another difference I heard from ecommerce experts is the onboarding process. B2B products often have greater technical complexity, which leads to longer onboarding processes.<\/p>\n

\u201cIn some industries, this can extend up to three months,\u201d says Hutt. \u201cHowever, this complexity also allows businesses to showcase their expertise and provide value through comprehensive support.\u201d<\/p>\n

Customer Retention<\/h3>\n

Customer retention also tends to be higher for B2B companies compared to B2C. When you consider how long the sales and onboarding processes are, not to mention the AOV being higher, it makes sense that customers invest longer.<\/p>\n

\u201cThis higher retention rate emphasizes the long-term nature of B2B relationships,\u201d says Hutt.<\/p>\n

Data from SaaS Capital found that B2B SaaS companies have a median gross retention rate of 91%<\/a>. Another report found that B2B industries like manufacturing have a 67% customer retention rate<\/a>.<\/p>\n\n

Image Source<\/a><\/em><\/p>\n

<\/a> <\/p>\n

Before you can venture into B2B digital commerce, it\u2019s important to understand how the industry is broken down. There are several types of B2B ecommerce channels. I want to highlight the most common types here.<\/p>\n

1. Wholesale<\/h3>\n

B2B wholesale is a model where businesses sell goods or services in bulk to other businesses. Wholesale prices are typically offered at a discount for bulk purchases.<\/p>\n

The goods are then sold to consumers at retail price for a profit. Businesses can sell wholesale from their own ecommerce site or use a B2B marketplace like Alibaba or Amazon Business.<\/p>\n

2. Manufacturers<\/h3>\n

Manufacturers are businesses that create goods and products from raw materials, usually at their own factory or warehouse.<\/p>\n

Manufacturers can sell directly to customers or work with a partner, like a distributor, to help them sell their products.<\/p>\n

3. Distributors<\/h3>\n

Distributors work with manufacturers to sell the manufactured product to customers. Distributors use ecommerce marketing channels to promote the manufacturer\u2019s goods in an effort to increase sales.<\/p>\n

4. B2B Marketplace<\/h3>\n

B2B marketplaces are a growing (and thriving) sector of B2B ecommerce.<\/p>\n

These marketplaces are online platforms that allow businesses to sell to each other. Think of them as retail platforms designed just for businesses rather than consumers.<\/p>\n

According to Statista<\/a>, Amazon Business and Alibaba are leading platforms among generalist B2B marketplaces. There are also specialized B2B marketplaces, such as DesignRush<\/a>, which connects service providers with companies.<\/p>\n

5. Software-as-a-Service (SaaS)<\/h3>\n

Software-as-a-Service (SaaS) is another popular type of B2B ecommerce. This business model involves companies paying a fee, either monthly or annually, to another company for access to the latter\u2019s software.<\/p>\n

Companies like HubSpot, Microsoft, and Dropbox are just a few examples of B2B SaaS platforms.<\/p>\n

<\/a> <\/p>\n

3 Top B2B Ecommerce Marketing Strategies<\/h2>\n

If you\u2019re in the B2B digital commerce space and curious about how to improve your marketing, I asked the experts for their top ecommerce marketing strategies for B2B companies.<\/p>\n

Strategy #1: Email Nurture Campaigns<\/h3>\n

As I mentioned earlier, the B2B sales cycle is much longer than the typical B2C process. Sellers must be actively engaged with prospects throughout the cycle if they want to stay on their radar.<\/p>\n

This is where email nurture campaigns can be beneficial.<\/p>\n

Tools like Opensend<\/a> and Retention<\/a> can help you identify potential customers after they\u2019ve visited your website, i.e., when buyers are in their research phase, and target them with personalized outreach.<\/p>\n

\u201cOnce we identify these potential leads, we initiate a personalized \u2018Thanks for visiting\u2019 campaign,\u201d says Hutt. \u201cWe integrate the newly discovered email addresses into our email service provider (ESP), like Klaviyo, to start nurturing campaigns. This approach helps maintain brand visibility throughout the longer B2B sales cycle.\u201d<\/p>\n\n

Strategy #2: Account-Based Marketing (ABM)<\/h3>\n

Account-based marketing (ABM)<\/a> has also gained a lot of traction in B2B ecommerce, and for a good reason.<\/p>\n

Personalization in sales is more important than ever, especially when 75% of B2B buyers<\/a> prefer a self-service experience over working directly with a sales rep.<\/p>\n

This means that when you do have an opportunity to meet with a prospect, your pitch must be tailored to their business needs to make the most of their time.<\/p>\n

B2B sellers must show their commitment by regularly engaging with customers, offering tailored insights, adapting to their evolving needs, and giving buyers personalized marketing content that speaks to their pain points.<\/p>\n

Being proactive with your marketing fosters loyalty and creates opportunities to add value to the relationship.<\/p>\n

\u201cFor high-value accounts, ABM is a great way to provide value through a personalized content cadence that speaks directly to each stakeholder’s unique challenges,\u201d says Belinda Conde<\/a>, head of marketing at Datos<\/a>, a Semrush Company.<\/p>\n

\u201cOne thing I\u2019ve found especially important in B2B is focusing on problem-solving rather than feature-selling. It\u2019s about providing value first \u2014 helping your audience tackle their pain points before you even ask for anything in return.\u201d<\/p>\n\n

Image Source<\/a><\/em><\/p>\n

Strategy #3: Educational Content<\/h3>\n

I heard from a lot of experts that educational, hyper-relevant content is essential for any B2B ecommerce marketing strategy.<\/p>\n

A B2B buyer wants to see evidence such as case studies, ROI calculators, and industry-specific guides. They want proof that your solution doesn\u2019t just sound good but works in practice and for businesses like theirs, shares Paul Drecksler<\/a>, an ecommerce expert and the founder of Shopifreaks<\/a>.<\/p>\n

\u201cB2B ecommerce marketing is about meeting [customers] where they are and saying, \u2018We get your world, and here\u2019s exactly how we fit into it,\u2019\u201d he says.<\/p>\n

Drecksler shares one marketing campaign that stuck out to him. \u201cI remember one campaign that focused on segmented landing pages with tailored messaging for each industry,\u201d he recalls.<\/p>\n

\u201cEach page had its own set of statistics, examples, and testimonials specific to that sector \u2014 whether it was healthcare, finance, or logistics \u2014 and each vertical got a narrative that showed an understanding of their unique challenges and priorities.\u201d<\/p>\n

<\/a> <\/p>\n

B2B Ecommerce Examples<\/h2>\n

If you\u2019re looking for inspiration for your ecommerce business, I\u2019ve collected a few B2B ecommerce examples that I found helpful.<\/p>\n

In my opinion, these companies showcase how to tailor content, landing pages, and user experience to a B2B buyer in an impactful way.<\/p>\n

Microsoft<\/h3>\n

Microsoft<\/a> showcases its use cases for different industries by creating industry-specific landing pages. They outline their solutions for healthcare, education, finance, and more.<\/p>\n\n

Image Source<\/a><\/em><\/p>\n

What I like most is the way Microsoft markets its AI solutions. They have a section on their website that is tailored to business leaders.<\/p>\n

I like that this campaign speaks to a specific buyer and breaks down the AI use cases that business leaders seek, like boosting productivity, optimizing efficiency, and driving more value across the business.<\/p>\n

Faire<\/h3>\n

Faire<\/a> is a B2B wholesale platform that connects independent retailers and brands. Even though I\u2019m neither a retailer nor do I sell products, I\u2019ve been a longtime fan of the Faire platform. I personally love its branding and messaging.<\/p>\n

To me, it\u2019s clear Faire knows its target market and tailors everything from its imagery to its copy to that customer.<\/p>\n\n

Image Source<\/a><\/em><\/p>\n

I especially like how the website is organized. Wholesale customers can browse different products by categories, bestsellers, or even based on the values that align with their brand.<\/p>\n

Grainger<\/h3>\n

Grainger<\/a> is a leading distributor of industrial supplies and equipment. The business operates retail stores and an ecommerce site for businesses of all sizes to shop for the tools and parts they need for a job.<\/p>\n\n

Image Source<\/a><\/em><\/p>\n

My favorite part about Grainger\u2019s ecommerce experience is the bulk order process. The simple feature is straightforward and mimics an order pad you\u2019d see a salesperson use in-store. Buyers can easily browse the product catalog, add the item numbers and quantities to their bulk orders, and make their purchases.<\/p>\n\n

Image Source<\/a><\/em><\/p>\n

Shopify<\/h3>\n

Shopify<\/a> regularly shares educational content for sellers across its blog and social media. This marketing content showcases Shopify\u2019s deep industry knowledge and how its specific features can help businesses improve their sales.<\/p>\n

For example, this LinkedIn carousel from Shopify breaks down three platform features that Shopify merchants can use to optimize their shipping strategy during Black Friday shopping.<\/p>\n

This speaks to one of their customer\u2019s pain points \u2014 keeping up with the influx of sales during the holiday season \u2014 and showcases how Shopify can help.<\/p>\n\n

Image Source<\/a><\/em><\/p>\n

Check out <\/em>HubSpot\u2019s Commerce Software<\/a><\/em> to launch your B2B ecommerce business online.<\/em><\/p>\n

<\/a> <\/p>\n

What I Learned About B2B Ecommerce<\/h2>\n

While I initially began this article thinking B2B ecommerce was wildly different from B2C ecommerce, I learned that they have a lot in common.<\/p>\n

B2B ecommerce is built off of the same principles as any other ecommerce \u2014 selling products or services \u2014 but the channels, processes, pricing, and marketing strategies are different.<\/p>\n

Like consumer ecommerce, it\u2019s critical to understand your audience when you\u2019re in the B2B ecommerce space. When you understand their pain points, perceived value, and what they\u2019re looking for in a partner, you can optimize your ecommerce experience to suit their needs.<\/p>","protected":false},"excerpt":{"rendered":"

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