B2B Marketers Can Learn From These Ecommerce Trends
The pandemic has forced us to abandon the “e” of electronic commerce. E-commerce is just a staple of sales and marketing. As a result, marketers are learning which digital marketing features to adopt to best match emerging customer behaviors. The education process will have an impact on the choices they make with their analysis strategies.
As with most customer-related activities, B2B companies follow in the footsteps of B2C brands here. So what are the implications for B2B marketers?
Upcoming e-commerce trends
E-commerce has been around for years, but consumption patterns have been slow to identify. BOPIS – the acronym for Buy Online Purchase In Store – as well as its sibling behavior, BORIS (Buy Online Return In Store) appeared among buyers even before the pandemic. Click to collect, a cousin of BOPIS and BORIS appeared as another option for customers. All of these represent changes in consumer behavior and define the expectations they will have for future transactions, regardless of brand or service.
The pandemic has accelerated certain types of e-commerce behavior. According to eMarketer, global e-commerce sales will reach $ 5,000 billion in 2021. Behaviors established in B2C e-commerce have started to apply to business accounts that rely on online services and ordering solutions. products. Businesses now need to educate corporate customers and deliver tailored functionality to those customers.
Learning about retail segments can benefit B2B companies looking to adapt to a more digital economy. Traditional retailers have found ways to adapt e-commerce and succeed against their fiercest competition, the digital natives. They have succeeded in blurring the lines between two experiences: in-store and online. Marketers at companies serving consumer and business accounts will face similar decisions about which services to combine and which to separate. The starting point for these decisions lies in the analysis.
Related article: COVID-19 Has Changed Your B2B Customers For Good
How do these trends influence B2B analysis?
Ecommerce improves analytical strategies for B2B in two key ways. First, e-commerce data creates an opportunity to manage inventory based on real-time customer behavior data. The data footprint of customer purchases requires up-to-date analytics that match the frequency of retail transactions. Click and collect provides a starting point for developing operations that best match customer demand for the products. Imagine an improved ordering system so that you could move resources with precision to match customers’ reception of their products and services to their preferred choices, and you would have a good idea of the potential benefit of managing orders. stocks.
Second, the frequency of customer activity from e-commerce behavior provides new training data to support predictive machine learning models. A retailer can build machine learning models that relate operational activity to customer choices. Additionally, retailers can develop activity-based forecasting, which results in better order schedules, drives operational efficiency metrics, and improves communication between managers overseeing a retail operation. detail.
B2B marketers need to pay close attention to how businesses are responding to changing e-commerce standards. Office Depot announced a strategy to split into two companies, one for B2B customers and the other for small business and retail. These types of details raise questions about the types of analytics that best match accounts while providing the big picture and custom integration features for business and consumer data.
Ecommerce also generates a need for analytics that can highlight operational data and remove potential workflow bottlenecks such as data silos. B2B marketers need to keep up with analytical developments, especially as updates to traditional solutions like Google Analytics and Adobe Analytics are intended to serve business and consumer accounts. They also need to keep an eye out for cloud platforms that can identify operational performance with data and improve data management. Microsoft Azure Purview is an example of such a platform.
B2B marketers have long adopted ecommerce tactics downstream from their B2C cousins. But the latest digital commerce expansion has opened the door for B2B marketers to keep customers and partners ahead of the curve.
Pierre DeBois is the founder of Zimana, a digital analysis consulting firm for small businesses. It examines data from web analytics and social media dashboard solutions, then provides web development recommendations and actions that improve business marketing strategy and profitability.