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Global online B2B sales have crossed the $7 trillion-mark and have overtaken B2C sales that are worth $2.3 trillion. Hiring e-commerce development agencies in India and other outsourcing locations have become the norm for B2B enterprises. They want to build internet-based marketplaces and other shopping platforms to engage their target audiences. E-commerce is a dynamic industry that is constantly undergoing a transformation.
Entrepreneurs in the B2B segment as well as the e-commerce website development companies catering to the sector must know about the trends that affect this industry. This will allow businesses to better serve their costumes. The knowledge of the latest trends will also help a development agency to integrate beneficial features in the applications built for B2B clients. As more entrepreneurs are expected to fulfill their business requirements through online shopping, it makes good sense for you to remain well-informed.
Here are the major B2B e-commerce trends that will affect the industry in 2021.
Online marketplaces have driven tremendous growth in the retail sector. Amazon and Alibaba are two of the most prominent names in the B2C segment. They have also entered the B2B sector with marketplace platforms for business owners in various verticals. It is expected that almost 75% of all the spending on procurements in the section will be done on online marketplaces. More than 25% of B2B buyers say that marketplaces are their preferred platform for fulfilling their requirements. Their numbers are only going to increase this year as more and more sellers join such platforms. E-commerce website development companies in India must be prepared to handle requests for building industry-specific marketplaces. Investors can use this tactic to target a niche vertical as well as an audience segment.
A business must be ready to connect with its customers on multiple channels. Your brand must be present wherever your audience goes. This is the reason why every entrepreneur is trying to use the omni channel sales approach. This involves creating a strong digital and offline presence. A business must be ready to serve its customers at traditional bricks-and-mortar outlets, online stores, social media channels, and marketplaces. It can very well happen that a potential customer visits your company office to make inquiries about a product. He then proceeds to research your social media profiles and finally makes the purchase on your online store. Building a strong omnichannel presence will be a key goal for the majority of sellers in the segment. They must hire a dependable e-commerce web development company India to build a robust digital presence.
Personalization has become the new normal in B2C marketing. Brands are segmenting their audiences based on their demographic details and shopping behavior. This allows them to connect individually with their audience members and enhance their engagement. This has worked successfully for retail sellers and the trend is now catching up in the B2B segment. Almost half the buyers in the industry say that they prefer to go with a supplier that uses a personalized approach. Research has found that customer spending goes up by 48% when personalization is used. Be prepared to see more and more clients expecting to be engaged with a personalized approach. E-commerce development agencies in India should be ready to include the necessary features like showing product recommendations on the basis of visitors’ in-store browsing/ searching/ shopping history.
Building customer loyalty is essential for establishing a sustainable B2B organization. As compared to the B2C industry, customer acquisition costs are much higher in the segment. The customer pool is also smaller and the sales cycle longer. All these factors make it all the more important to invest in building customer loyalty. Driving repeat purchases can help you generate more than 60% of your sales revenue from existing clients. You can take a leaf out of B2C operators and start loyalty programs. You can create a rewards plan where buyers collect points on every purchase that can be redeemed on other purchases once they cross a threshold. You can also reward your customers for giving you a referral. An offshore company for e-commerce development must be prepared to make the necessary modifications for implementing such strategies.
The emergence of digital assistants and smart speakers is contributing to the rise in voice searches. Individuals are already using this feature to conduct online searches conveniently. Over 70% of buyers in the B2B segment research their purchases on the internet before making a final decision. The voice search trend will soon become popular among such users too. Sellers must optimize their websites for oral searches. Moreover, they must ask e-commerce development companies in India to build responsive websites. This will allow the audiences to easily access their stores on their mobile devices. This will help sellers to improve their visibility and become more accessible to their customers.
B2B is a tough segment in any industry. Enterprises compete for a small customer pool and the acquisition cost per customer is also steep. You need to partner with smart e-commerce development agencies in India to take full advantage of these trends. SDLC InfoTech is the best e-commerce development company in India to achieve this objective. Here are a few reasons that make it the perfect development partner for B2B enterprises.
SDLC InfoTech is one of the top e-commerce development companies in India with the ability to build scalable stores. The agency ensures that your website can easily handle growing requirements with some simple modifications. It also includes the latest security features to give a strong protective cover to your website.
Online stores require constant monitoring to make sure that visitors can easily access the platform and make purchases. SDLC InfoTech is one of the few agencies for e-commerce development in India that offers dedicated maintenance and support services to online entrepreneurs. This helps business owners to enjoy complete peace of mind while our professionals take care of all technical issues.
SDLC InfoTech is one of the best e-commerce development companies in India for leveraging the latest trends because of its great expertise in the domain. It has a team of coders and designers with massive experience in building feature-rich, high-performance stores.
Amritesh is a digital marketing consultant who has spent more than ten years working in the custom software and web development industry. His tenure in the industry has enriched his knowledge about various web development streams including e-commerce development. He shares his ideas on different technology-related topics on social networks and blogs. Connect with him on LinkedIn and Twitter to get updates about more such informative posts.
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