Myths About B2B E-Commerce

“B2B Customers Don’t Want to Buy Online” and Other Myths About B2B eCommerce

Every industry has its myths. In retail, the customer is always right. In food service, you should never order fish on a Monday. And in manufacturing, it’s a man’s world.

The myth in B2B? That eCommerce isn’t worth the effort.

A quick Google search should be enough to debunk that idea. In 2020, the global B2B eCommerce market was valued at $14.9 trillion, and just last year, sales across B2B eCommerce sites, login portals, and marketplaces grew by 17.8% to reach $1.63 trillion.

Still, a number of misconceptions persist among B2B companies, leaving many hesitant to invest in a fully modernized B2B eCommerce website.

So sit back while we debunk six of them.

Myth #1: B2B customers don’t want to buy online

Human beings are creatures of habit. We stick with what feels familiar. So if companies have always paid for goods and services in person, by phone, or by email, it’s unlikely they’d want to change all that by starting to buy online, right?

Wrong.

According to a McKinsey report, more than three-quarters of B2B buyers and sellers now prefer digital self-service and remote human engagement over face-to-face interactions. The COVID-19 pandemic clearly played a role in that shift, but the security, speed, and convenience of paying for goods online can’t be ignored.

Fortunately, meeting these new expectations isn’t especially difficult. Recent technology advances have given businesses a wide range of digital payment options, from secure bank transfers and contactless transactions to digital wallets and instant bank payments, all of which are easy to integrate into today’s eCommerce platforms.

Myth #2: B2B eCommerce doesn’t need to be mobile-friendly

If we asked you to picture a stereotypical B2B buyer or procurement manager, you’d probably imagine someone sitting in front of a large computer screen, with endless data points and spreadsheets flooding the display. While that’s sometimes true, it’s far from the whole story.

The reason is simple: millennials.

More and more millennials are entering the workforce, and moving up the ladder too. According to data from AHT TECH JSC, millennials are now involved in 73% of B2B purchasing decisions. That’s why your eCommerce platform needs to adapt to this new generation of buyers, especially the way they like to shop.

And what’s the tech device millennials use most when shopping? Their phone.

That makes it essential to ensure your eCommerce platform is optimized for mobile. Just look at the broader eCommerce market for proof. The total market share of eCommerce sales made on mobile reached 72.9% in 2021. Why would B2B be any different?

#Myth 3: UX isn’t an important issue for B2B customers.

B2B companies are focused on, well... business. But that doesn’t mean there isn’t a human being on the other end. At least 80% of B2B buyers expect an experience similar to what they get as B2C customers, which means UX, accessibility, and ease of use should be at the top of your priority list.

The challenge is that what users expect from a B2B eCommerce platform is very different from what they expect from a B2C one. For example, B2B customers are likely to run highly specific searches with very precise technical parameters. You won’t see the same kind of impulse buying you get in B2C; every purchase decision will be carefully considered.

Millennials are key here. They’re generally associated with expecting a better customer experience when shopping online, and they often consume far more product content before making a final decision.

That’s why your product content, categories, and specifications need to be as detailed as possible. You’ll probably also need to provide plenty of images, and even videos and 3D renderings for some products.

Myth #4: All my customers need different pricing, and an eCommerce solution can’t handle that complexity.

It’s true that a B2B eCommerce platform alone can’t deliver all the customer personalization you need. But what if it’s connected to an ERP?

ERP, which stands for Enterprise Resource Planning, is a type of software that lets organizations integrate and manage all their day-to-day business activities from a centralized platform. From procurement and risk management to your CRM and eCommerce platform, every business function feeds into the others through the ERP, sharing data and empowering the entire company.

That means you can create highly targeted, personalized customer journeys. Here are some of the personalization options made possible by integrating a B2B eCommerce platform with an ERP system:

• Tailored stock availability
• Dynamic pricing controlled by customer-specific ERP logic
• Customer-specific credit status
• Streamlined order simulations based on ERP business rules
• History and status for every order recorded in the ERP

And the best part? These benefits are all available in real time too.

#Myth 5: Modernizing my B2B eCommerce platform is too complex and risky for my company’s size.

For companies already running a B2B eCommerce platform, it’s natural to think that the more customers you have — and therefore the more data you have — the harder it will be to modernize. While that may be true, it’s also true that no process is too complex for a modern eCommerce platform to handle.

The most sophisticated platforms can be cut, adjusted, folded, and shaped around your specific requirements. That level of customization means even the most complex shipping and fulfillment processes can be integrated to ensure the smoothest, most efficient delivery execution — all powered by your B2B eCommerce site.

While a modernization project of this scale takes time and comes with its share of challenges, the reality is that standing still carries a much greater risk. Why? Because if you can’t keep up with your competitors, your business risks losing an entirely new generation of customers in the future.

Myth #6: Running a B2B eCommerce platform is easy

It isn’t.

But it is possible, as long as you take the right steps and follow the right guidance.

There has never been a more important time to adopt a strong eCommerce strategy from the start, because bringing your B2B business into the 21st century is no longer optional — it’s a must.

The hard truth behind all these myths is this: B2B companies that fail to transform and meet the changing demands of their audience risk not only lost revenue, but lost relevance.

Don’t let that be you.

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