The days of gray and dull B2B experiences are over. As technology develops, B2B buyers have started demanding the same level of comfort and experience previously reserved for B2C shoppers. And that includes a much bigger focus on e-commerce and digital customer portals.
In fact, a McKinsey survey of B2B decision-makers shows that 86% of respondents “prefer using self-service tools for reordering, rather than talking to a sales representative.”
On the other hand, companies were happy to embrace this change when they realized how perfectly it complements their sales teams due to the efficiencies it could bring. Since a lot of administrative work shifts to the buyer, the staff can focus on more strategic tasks that bring more value to the company.
However, 2024 brings a new urgency to the topic for three main reasons:
Let’s explore each one in more detail.
Market Focus on Cost Optimization
The volatile political and economic situation brought on by the war in Ukraine and the increasing impact of the climate crisis considerably changed the market circumstances in the last several years.
As inflation soared worldwide, central banks were forced to increase debt rates in response. This increase made it more difficult for companies to opt for significant investments – as they are usually funded by debt – leading to a greater focus on business optimization instead of growth.
At first glance, it might sound illogical to invest in a digital customer portal in this situation. However, due to the efficiencies we mentioned, now is a great time to launch this type of project.
As you switch a part of the work to the customer, you not only save the associated costs but also make it easier to up-sell and cross-sell your products and services.
Suppose a buyer is using your digital customer platform to purchase a product. In that case, the system can look at the order and buyer’s past behavior, as well as the overall context, and suggest a complementary product that will bring additional value to the buyer. Or, in case of a complex product, a training service for their staff.
As a result, your customers are left impressed with the level of detail and attention they are receiving, while your sales and service teams get to focus on parts of their job that drive greater value for the company.
Advances in Headless Architecture
B2B brands have been interested in self-service portals for a while. Most initial attempts relied on integrating many different systems – like your digital commerce portal, customer service portal, etc.
Unfortunately, as the systems weren’t designed to be interoperable, these projects usually created more inefficiencies. Especially if you tried using solutions from multiple providers.
Thanks to advances in headless microservices architecture, B2B companies can now de-couple their frontend and backend systems.
In simple terms, you can set up a single customer-facing portal with many different solutions from different providers working in the background.
