In my role as the leader of the B2B commerce sales team at Shopify, I talk with B2B organizations every day about how they can evolve their sales strategies. Some tell me, “Brandon, I’m still taking orders on a carbon copy sheet of paper.” Others have evolved by placing orders through their ERP system. I’m here today to definitively announce: It’s time to change. Today’s buyers are expecting a relationship with a seller and an easy-to-use online ordering system with transparent prices, updated inventory, and customized SKUs. They are unwilling to pick one or the other.
To quantify the industry’s challenges, we commissioned a report with B2B Online and Deloitte Digital. The research findings align with the conversations I’m having daily. In short, B2B organizations are overwhelmingly unprepared for the shift to digital B2B sales. Some are making headway, but the majority need sizable transformations of their sales organizations, technology stacks and change management processes.
In this post, I outline the key takeaways from the report—but don’t just take my word for it. Download the report or watch my webinar with Deloitte Digital’s Paul do Forno in which we discuss both the findings and key strategies.
What B2B organizations are saying about their preparedness
Only 20% of sellers feel very prepared for the future of digital B2B sales. This lack of readiness leaves organizations at risk of losing their competitive advantage to more digital-friendly companies. As one respondent put it, “We need to create engaging, high-quality resources for customers to revamp our digital content strategy.” But where do you start?
Highlights from the research point to areas where B2B businesses should focus:
- Buyers want digital B2B sales processes: 73% of respondents reported an increase in demand for digital B2B sales processes over the past three years, with 14% noting a significant increase.
- Most struggle to integrate their back- and front-office systems: 75% of respondents said their integration is only somewhat effective, causing them to spend time navigating data inefficiencies and correcting fragmented customer experiences.
- Automation can be a quick win: Half of respondents say their B2B buying experience is mostly automated, with advanced automation technology for online transactions, order processing, and real-time data analysis, but 47% say their buying experience is still only somewhat automated.
- Negative customer experiences are impacting sales: On average, businesses lose 21% of potential sales because of negative customer experiences in the digital sales process.
- AI is the most impactful emerging technology: 64% of respondents view AI as very significant, particularly for personalization efforts, predictive analytics, and improved customer service.
- More businesses need to make use of platform features: The most common features in current B2B sales platforms are automated volume and quantity price breaks (51%), integrated customer support tools (51%), and company profiles for each unique buyer (49%), which are relatively low adoption rates.
Step into the future of B2B commerce
Despite a lack of preparedness, businesses are taking the B2B buying experience seriously. Many have identified personalization, integration with third-party systems, improved analytics, and enhanced self-service options as areas where they plan to upgrade their commerce experiences.
To meet the demands of today’s B2B buyers, organizations are creating more intuitive online ordering systems that streamline the purchasing process from storefront to checkout. These systems provide real-time product, pricing, order, and inventory data, along with flexible shipping and payment options, and tailored order workflows that cater to buyers’ preferences.
Now it’s time for my own sales pitch: All of these features and capabilities are either built directly into the Shopify platform, available with out-of-the-box integrations, or easily implemented using the thousands of apps within the Shopify app ecosystem. It’s time to finally leave those carbon copies behind.
