Evolving Features for Business Growth in B2B E-commerce

The B2B marketplaces are booming! Forget paper trails and endless paperwork. The new era of digital B2B means businesses can ditch the manual stuff and move everything online.

This game-changer lets companies transact electronically, saving them time, money, and a whole lot of frustration. Plus, it opens the door to global opportunities – your business can now connect and transact with anyone, anywhere! 

Kenya is the 74th largest e-commerce market in the world, and this year alone has contributed to a worldwide growth of 10.4%. 

Factors Influencing B2B Revenue Growth

• According to McKinsey & Company, around 18% of B2B revenue comes directly from e-commerce, proving that e-commerce is a driving force behind revenue growth. This transformation is influenced by notable factors that include:
• Internet Penetration: The internet has expanded the potential customer base for B2B e-commerce platforms, which allows them to connect with a larger network of buyers and sellers. 
• Automation: Automation improves efficiency by streamlining operations, reducing manual intervention, and handling tasks such as order processing, inventory management, and customer support.
• Access to Markets: Already, Kenya has already contributed 1.1 billion dollars in digital revenues. This is proof that more internet access means more businesses can participate in online B2B e-commerce; this allows businesses to reach a wider audience of potential customers and suppliers. And your business can be one of them. 
• Efficiency and Scale: As automation makes B2B e-commerce efficient by reducing manual intervention, this leads to faster order processing and fewer errors
• Marketplace Dynamics: Increased internet penetration and automation have fueled the growth of digital marketplaces in B2B e-commerce, making it possible for buyers and sellers to connect and facilitate transactions efficiently.
• Global Reach: Cross-border trades are significant to the Kenyan economy. In 2023, Kenya’s expenditure on imports rose by 17.5% and earned $5.9 billion in exports. Having B2B e-commerce platforms, enables cross-border trade, thanks to the internet, and automation. This creates opportunities for continued growth and expansion in the digital marketplace.

To stay afloat and ride on the e-commerce wave, you need the right features in your arsenal. Don't worry about wading through a sea of options – here are the essentials mapped out for you.  You can integrate these features and strategies into your B2B e-commerce.

Incorporating a strong digital infrastructure:

Customers often need to ask questions and expect quick replies to find the right information about a product, inquire about account-related issues or resolve queries. To accomplish this, incorporating a chatbot and machine learning is important as they can provide prompt responses and address the customers' pain points effectively.

Moreover, by providing customers with access to their order history and enabling them to track their order delivery, B2B companies can offer a higher level of customer service, making the shopping experience more convenient for them. This feature will help attract and retain customers globally.

Building a User-Centered Website:

The key to a successful E-commerce business is to build a website solely for users. A website that is simple, easy to navigate, and inclusive, catering to the needs of all users.

For instance, a search function that allows customers to find what they need quickly and easily; clear and detailed product information that includes pricing, availability, and specifications. Personalised content and recommendations should also be provided to each customer based on their needs and buying habits. Additionally, the website should have secure payment options for customers to complete their transactions confidently. Investing in a solid UI/UX will help to improve customer satisfaction and increase sales.

Developing a customised marketing strategy:

B2B businesses should use data-driven assessment to create personalized marketing messages and product recommendations. For example, when a customer searches for a particular product, the website should show them specific products that are relevant to their search. This personalized experience has a higher chance of resulting in a sale than a generic one-size-fits-all approach.

Embracing Omni-channel Presence:

B2B e-commerce websites should integrate an omnichannel sales approach, they can do this by providing a consistent experience across all their channels, whether online or offline. For instance, customers should be able to access the same products, prices, and information no matter how they choose to shop e.g. from a desktop or smartphone. Companies must take into account the specific needs of Millennials, who are now the primary decision-makers in the B2B market. They are looking for a convenient and streamlined experience and companies should adapt their strategies accordingly.

Partnering with Top Third-party Logistics:

When B2B businesses partner with third-party logistics providers, it can help them focus on their competencies and scale their operations more effectively. These providers have the experience and expertise to manage the logistics side of the business such as warehousing, transportation and distribution. This can help free time and resources for businesses to focus on other activities like marketing and product development. Not only this, it can also lead to cost savings by taking advantage of economies of scale.

A trusted logistics partner can support your business goals and help you navigate the challenges and opportunities of the digital marketplace. 

With DHL’s top-tier services, you get to focus on the core activities of your business while we take care of international shipments and global e-commerce transactions. By partnering with third-party logistics, you would not only be enhancing customer experience and optimising efficiency, you would be unlocking new growth opportunities, which is the most strategic thing you can do for your business.