The B2B customer was born in a B2C world and their expectations are overlapping in ways that should influence brands to integrate the best of both worlds.
The business-to-business (B2B) landscape is undergoing a profound transformation, driven by the rising expectations of its customers. Traditionally, B2B commerce has been distinct from business-to-consumer (B2C) operations, characterised by complex purchasing processes, long sales cycles, and a focus on direct and in-person relationships over digital engagement. However, as the lines between professional and personal purchasing behaviours blur, B2B companies are increasingly adopting strategies that mirror B2C commerce to increase engagement and drive incremental revenue. Akeneo’s 2024 B2B Survey Report, which surveyed 650 global B2B industry leaders and decision makers, highlights this shift, emphasising the importance of digital transformation, personalisation, and omnichannel integration in meeting evolving customer demands.
One of the most striking findings is the overwhelming intention among B2B companies to expand their digital presence. 90 per cent of respondents plan to increase their use of digital marketplaces, a strategy that has long been a staple in B2C commerce. This shift is driven by the growing preference for self-serve portals, social media, and product marketing websites during the pre-purchase phase. B2B buyers, much like B2C consumers, are now seeking convenience, ease of access, and the ability to gather information and make purchasing decisions independently. This change underscores the need for B2B companies to invest in robust digital platforms that offer a seamless, user-friendly experience.
Moreover, the survey reveals that 66 per cent of B2B respondents believe that product and brand values will play a more significant role in purchasing decisions, second only to the consistency and personalisation of customer experiences across all touchpoints. This finding signals a shift in priorities within the B2B sector, where the quality of the customer experience is becoming as critical as the quality of the product itself. B2B customers are no longer satisfied with a one-size-fits-all approach; they expect tailored experiences that reflect their unique needs and preferences – mirroring the personalisation trend in B2C commerce.
The convergence of B2B and B2C customer expectations presents significant opportunities for B2B companies willing to embrace digital transformation. By adopting B2C strategies such as omnichannel integration and enhanced personalisation, B2B companies can differentiate themselves in a competitive marketplace. For instance, integrating digital channels with traditional sales methods can create a more cohesive and efficient customer journey. Additionally, leveraging data analytics to understand customer behaviour and preferences allows B2B companies to offer more personalised experiences, thereby building stronger relationships with their clients.
However, this transformation also presents challenges, particularly in managing the volume and complexity of product information. The research highlights that 99 per cent of business leaders face at least one product information challenge, ranging from data accuracy to the time-consuming nature of data entry. The complexity of B2B products, which often involve multiple components, configurations, and customisation options, exacerbates these challenges. As B2B companies expand their digital presence, the need for accurate, up-to-date, and easily accessible product information becomes paramount. Customers expect to find detailed product specifications, pricing, availability, and other relevant information at their fingertips, much like they do in a B2C setting.
To address these challenges, many B2B companies are turning to artificial intelligence (AI) and Product Information Management (PIM) systems. AI can automate routine tasks such as data entry, freeing up resources for more strategic activities. It can also help in analysing large datasets to identify trends and insights that can inform business decisions. PIM systems, on the other hand, provide a centralised platform for managing product information, ensuring consistency and accuracy across all channels. By streamlining data management processes, B2B companies can improve the customer experience and reduce the risk of errors that could lead to customer dissatisfaction.
Ultimately, the future of B2B commerce lies in its ability to provide a seamless, consumer-like experience. As B2B and B2C customer expectations converge, B2B companies must rethink their strategies to remain competitive. This involves not only adopting digital tools and platforms but also reimagining the customer journey to align with the expectations of today’s B2B buyers. Companies that succeed in this transformation will be those that can offer a consistent, personalised, and convenient experience across all touchpoints, much like the leading B2C brands.
Share