11 Obstacles to B2B Business Growth (Part 1)
As B2B companies are moving from traditional promoting and basic online ordering portals to a whole digital commerce channel, there are several demanding situations they need to consider and deal with in addition to capabilities and functionalities that they need to make certain are in place before release.
1) Customer demands and the growth of B2B>
Although B2B E-Commerce is at the rise, the scenario like the preferred vendors does not offer online purchasing alternatives or people who do are cumbersome and not as easy to shop from occurs too often in today’s commercial enterprise surroundings. Customers assume online shopping experiences to be seamless and hassle-free, no matter how, where and when they shop. Business buyers also are online buyers; they anticipate their personal shopping experiences to switch to their professional buying experiences.
2) Overcoming a Lack of Customer Awareness
Customers frequently complain while there are blatant or recurring performance issues. But unless a company makes an attempt to find out, customers might not reveal how they experience their relationship with the company or whether or not it is meeting their desires. Even in the healthiest relationships, customers may hold back, fearing that they might be giving up some of their future advantages with the organization if they speak up. If an enterprise wants to recognize where it stands with clients, it has to talk with them.
3) Complex buying organizations, roles and authorizations>
B2B customers may have centralized or distributed purchasing departments, more than one business units, locations and different customers. They may also have multiple contacts attached to one customer account, multiple customers connected to one billing account, and so on. In addition, the huge majority of enterprise shopping choices involves more than one decision makers and influencers. As a result, it is common that these customers require a guide for their buying procedure with different user roles and authorization levels.
4) Product configurations and custom catalogs
B2B product offerings regularly require some custom configuration such as kits, assemblies and style options. Many business clients also have specific approval guidelines for what merchandise certain employees are allowed to purchase, as well as specific credit score limits and product assortments according to the customer. This means that product catalogs would possibly need to be custom designed for not only individual agencies but also for customers within an organization. Given that business shoppers rely on product availability, it’s also essential that product catalogs are updated dynamically and in
real-time, along with delivery timelines.
5) Data and systems integration
Due to the B2B value chain, B2B often install an extensive range of systems to control products, pricing, orders, customers and product information. It is therefore important that all systems are fully integrated, including vendor collaboration tools, financials (AR), ERP and more with the online B2B platform and they are all in sync.
6) Build and they will come?
Launching a B2B E-Commerce website is only half the battle. In addition to the technical capabilities, B2B organizations need to consider the strategic difference in selling online. B2B organizations are traditionally very focused on producing sales from negotiated agreement terms and from strong consumer and partner relationships. With this shift to an increased focus on acquisition, marketing comes new demanding situations. This requires the organizations to build out digital marketing strategy can drive traffic to the E-Commerce website and convert online sales through SEO, search engine marketing, virtual marketing and email marketing. In addition to having a digital marketing strategy, organizations should also look to their
E-Commerce platform to ensure that it provides advanced SEO functionality, visibility into customer facts and integration with marketing systems.
This segment is part 1 in the series : 11 Obstacles to B2B Business Growth