Evolution of B2B eCommerce and Digital Customer Experience
The B2B space is experiencing a significant transformation with the rise of eCommerce solutions for manufacturers and distributors. ABB is at the forefront, utilizing eBusiness solutions, digital tools, and innovative marketing strategies to enhance the customer buying experience. Explore the future of B2B eCommerce through expert insights, best practices sharing, and discussions on digital commerce formats. From streamlining processes to enhancing customer service resources, eCommerce is reshaping business strategies for improved efficiency, growth, and market expansion.
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ABB CUSTOMER WORLD | HOUSTON | MARCH 4-7, 2019 The future of B2B eCommerce and Digital Customer Experience 234901 Monique Elliott, Global Head of Customer Experience
The future of B2B eCommerce and Digital Customer Experience The B2B space is undergoing unprecedented change with growth of eCommerce solutions for manufacturers and distributors. No longer is this only an area of opportunity for consumer-centric business models. Join this fireside chat to learn how ABB is approaching the evolution of customer experience through eBusiness solutions, digital tools and non- traditional marketing to make it easier for customers to buy online. Points of value 1 2 3 Learn from a panel of experts on how traditional B2B online commerce is evolving into digital customer experience programs. Take part in an open dialogue to share best practices and discuss the future of B2B eCommerce. Understand the various digital commerce formats and which make sense for you. Slide 3 September 6, 2024
eCommerce The buying and selling of goods and services using the internet, mobile networks and commerce infrastructure It includes research and marketing activities that support these transactions, including people, processes and technologies to execute at all touch points throughout the customer buying journey Slide 4 September 6, 2024
eCommerce as a business strategy Customer Experience Efficiency Growth Expand our reach Customer & manufacturer productivity Intimate digital experience Access parts of the markets not previously available remote, no local footprint From manual to online Simplified UX More effective use of commercial & customer service resources Data transparency Self-sufficiency - with help available Slide 5 September 6, 2024
eCommerce ecosystem eCommerce Product Information Management (PIM) Digital Marketing Includes research, marketing, configuring, servicing, selling and buying products Accessibility on all devices/platforms including desktops, mobile, social Functionality can be applied across different channel strategies: o Manu Distributor End User o Manu e-Tailer End User o Manu Distributor e-Tailer o - - - Shopping carts Technology innovation Payment processing eBusiness Marketing Automation Vendor Managed Inventory (VMI) Order tracking Configure, Price, Quote (CPQ) Personalization engines Electronic Data Interchange (EDI) Customer loyalty Slide 6 September 6, 2024
Online commerce landscape Online search eBusiness eCommerce Online ordering platforms Online ordering sales Closed authenticated order platforms Distributor owned web shops EDI Manufacturer owned marketplaces VMI Third-party e-tailers and marketplaces Digital Content Digital Marketing Information Systems/Technology Slide 7 September 6, 2024
Traditional industry meets the evolution of Customer Experience INVESTMENT FOCUS MULTICHANNEL E-COMMERCE E-BUSINESS TRADITIONAL EXPERTISE & TIME EXPERIMENT OMNICHANNEL
B2B customers expect more digital engagement Professional buyers look for immediate access, transparent prices, better buying experience B2B buyers accelerate their desire for digital self-service: I prefer gathering information online on my own B2B buyers expect to buy more online in the coming years: What percentage of my purchase for work do I make online? 68% of B2B buyers do their own pre-sales research on-line because it s more convenient 55% of buyers expect to make half or more of their work purchase on-line 38% 53% 55% 68% 2017 2020 2015 2017 Slide 10 September 6, 2024 Source: Forrester (Death Of A (B2B) Salesman: Two Years Later
B2B buyers have evolved and continue to change Getting younger ~50% of all B2B buyers are Millennials, up from 27% compared to 2013 1 Leverages new technologies With reviews and mobile web access, customers know more about your products, service, competitors and pricing than you do Mimics consumer shopping behaviours Want convenience, flexibility and customization Willing to pay for a great experience Pay on average 30% more for a superior customer experience 2 Millennials Generation X Baby Boomers Ages 21-34 Ages 35-51 Ages 51-70 Source: 1 IBM Commerce, 2015 2 Avanade, Global Survey: B2B is the new B2C, 2013 Slide 11 September 6, 2024
B2B buyers have evolved and continue to change Q: What percent of your total purchases of industrial supplies/ products, in a year, are with the following types of suppliers? Q: Which of the following sources do you typically use to find out more information about a new industrial product supplier? 100% Methods of researching suppliers 46% 48% 37% 80% 50% 46% 45% 44% 43% 43% 42% 54% 38% 38% 38% 40% 60% 29% 30% 30% 24% 25% 24% 40% 16% 20% 20% 33% 31% 31% 30% 10% 2% 0% 0% Total Millennials (B) n = 424 Gen X (C) n = 651 Baby Boomers (D) n = 425 Company website Online search engine Social media Sales representative n = 1,500 Baby boomers Generation X Millennials Manufacturer E-Marketplace Distributor Slide 12 September 6, 2024 Source: UPS Industrial Buying Dynamics Study 2017; United States study
Global online B2B market expected to be twice the B2C by 2020 B2B Estimates $6.7 trillion (vs B2C $3.2 trillion) and account for 27% of total manufacture trade Estimates of B2B eCommerce, Global, 2020 eCommerce activity of Enterprises in key economies, Global, 2020 2.5 2.1 2.0 1.9 Online Trade = 27% of Total = $6.7 trillion Total online sales ($ Trillion) 1.5 1.2 1.0 0.9 0.6 Total 0.5 Manufacturer Trade1 $25 trillion 0.0 The United States The United Kingdom Key EU countries China Rest of the World Online Sales: Excludes sales from the use of ICT technologies such as EDI Slide 13 September 6, 2024 Source: FROST & SULLIVAN [Office for National Statistics (UK); EU Stat; US Census Bureau; National Census Bureau]
