– By Ankit Gupta
The biggest B2B e-commerce trends in 2022 included multichannel marketing, mobile wallets, and customization. With significant ramifications for how consumers and sellers conduct business, what began as a crisis solution for e-commerce in 2020 has evolved into the new baseline. Following suit, we observed a number of trends gaining traction and entering B2B e-commerce in 2022. Customization, mobile wallets, and omnichannel commerce become well-liked trends.
With new trends, 2023 is expected to push the boundaries of B2B e-commerce even farther. The B2B industry is not only steadily expanding its online presence, but it is also doing so by imitating several crucial B2C e-commerce techniques. B2B distribution has significantly changed as a result of the expansion of e-commerce. Formerly, companies relied on catalogues and physical locations to contact their customers. Customers are increasingly using the internet today to browse product options and make purchases. Due to this change, online sales have increased while traditional retail channels have seen a downturn.
In the past, companies would frequently keep significant inventories of products to meet client demand. But today, companies may benefit from just-in-time inventory management strategies made feasible by e-commerce. As a result, firms can lower the cost of their inventory and free up cash reserves. Businesses now have new ways to access global markets thanks to e-commerce. Due to the shipping and customs clearance expense, selling overseas, shipping and customs clearance, selling overseas used to be frequently expensive. But so far, owing to e-commerce, companies can easily sell their goods to people all over the world.
B2B e-commerce in 2023
According to research from Statista, 17 per cent of B2B sales are predicted to be generated digitally by 2023.
Customization will be key
Customers in the future will demand the ability to completely customise their purchasing experiences. In light of this, businesses will need to provide customers with more customisation options than before.
The continued rise of digital transformation
To be competitive, firms will continue to invest in digital transformation. In 2020 and 2021, 75 per cent of B2B buyers preferred digital to in-person contact. This implies putting more emphasis on e-commerce and the user experience.
The importance of artificial intelligence (AI) will rise
AI will assist companies in automating procedures, customising consumer encounters, and improving marketing and product development choices.
Mobile commerce will keep expanding
Businesses will need to make sure their websites are mobile-friendly given the continuous increase of mobile commerce. This entails emphasising efficiency, practicality, and user experience.
The ongoing market fragmentation in B2B e-commerce
The market will splinter more and more as many industries adopt B2B e-commerce. This implies that in order for firms to succeed, they will need to concentrate on particular niches.
Expanding social commerce
Certainly, B2C businesses have dominated social media platforms. But, as a result of recent market changes, B2B companies are now taking part in the fun and engaging with their target market on social media.
Here are the top 10 B2B trends for the years 2023 and beyond.
Podcasts are becoming popular as a B2B marketing channel
Many B2B companies are quickly using podcasts as a standard marketing strategy.
To be clear, podcasts don’t fall under the same umbrella as SEO, PPC, or content marketing (yet). Nonetheless, companies are beginning to divert part of their marketing funds from conventional channels.
The generation of video content by B2B businesses
According to a market research report, 92 per cent of marketers believe that video is “essential” for the marketing initiatives of their companies. It largely depends on the products your company sells. and the websites that your customers frequent. Also, B2B companies that utilise video effectively frequently use it in a variety of ways.
B2B content marketing becomes more competitive
For decades, content marketing has been a pillar of B2B advertising. Yet during the past few years, interest in B2B content marketing has truly soared. It has greatly increased channel competition.
Marketing automation becomes easier
One of the major trends in digital marketing over the past five years has been marketing automation. When done right, marketing automation increases the number of emails opened, clicks made, and leads generated.
Storytelling is used by B2B businesses in their marketing campaigns
B2B decision-makers use less logic and reasoning when choosing products than B2C decision-makers do. There are many different emotions at work. Because of this, a growing number of B2B companies are embracing narrative to make their products stand out, get recognition and also to seal the transaction.
Personas assist B2B companies in reaching the correct clients
Consumer personas are crucial to any business’s marketing efforts. Finding the precise individual you need to address is made easier with the aid of personas.
Surely, traditional methods of digital marketing (including email marketing and ABM) are still useful today. However, the B2B business world is undergoing certain changes, just like in the B2C market. Intelligent B2B firms are utilising these trends to stay on top of the game. extra to gain a competitive advantage.
(Ankit Gupta is the CEO & Director at ExportersIndia.com)
