Today’s cutthroat B2B market necessitates ensuring maximum ROI as a paramount goal for CXOs and senior executives in the world of eCommerce. This is because with shifting B2B customer demands, traditional eCommerce platforms no longer suffice, driving the need for specialized solutions. Simply put, these businesses need a robust solution that is capable of streamlining operations, tailoring experiences, and driving overall growth. So, say hello to Adobe Commerce: an B2B eCommerce ROI catalyst that is designed to take businesses to new heights. This dynamic platform offers an extensive range of avant-garde features to tend to the distinctive needs of digital B2B storefronts.
But how does using Adobe Commerce translate into quantifiable ROI? That is exactly what I will discuss in this blog. I will take a closer look into the platform, analyzing the key features that affect B2B eCommerce platform ROI.
Real-World Challenges B2B eCommerce Faces Today
Here are some recent statistics that highlight B2B eCommerce challenges and emphasize the need for better platforms:
Disjointed Customer Experience
According to McKinsey & Company, 89% of B2B buyers claim that the purchasing experience significantly influences their loyalty.
Challenge: B2B buyers have high expectations, demanding a seamless, personalized experience similar to what they experience with B2C eCommerce platforms. However, several B2B eCommerce platforms struggle to deliver in this regard, often due to outdated features or insufficient customization options offered by the platform that they use.
Manual Workflows and Inefficiency
As per the Aberdeen Group, 50% of B2B procurement professionals identify manual processes as a significant impediment to efficiency improvement.
Challenge: The prevalence of manual tasks within B2B eCommerce operations continues to pose a massive obstacle, with many platforms falling short in offering robust automation features. Such deficiency leads to errors and loss of valuable time, thus taking a toll on efficiency and productivity.
Security and Compliance Concerns
An IBM Security study reported that data breaches inflict an average cost of $4.24 million on B2B businesses.
Challenge: The risk of data breaches looms large over B2B eCommerce, especially owing to outdated or inadequately secured platforms. Such vulnerabilities not only jeopardize data integrity but also compromise compliance, eroding trust among customers and partners alike.
4 ROI-Fueled Business Benefits of Adobe Commerce for B2B Success
For B2B eCommerce companies, dealing with the challenges posed by outdated or insufficient platforms is a common struggle. These hurdles unsurprisingly and often result in missed opportunities, operational inefficiencies, diminished ROI, and so much more. But don’t worry, because there is still a silver lining: investing in Adobe Commerce is about mere expenditure. Such investment is fundamentally a strategic move towards achieving B2B eCommerce success and excellence.
This platform from the stables of Adobe brings with it a comprehensive array of features to cater to the distinctive needs of digital B2B companies. The use of these features helps companies tap into a vast range of advantages that directly correlate with measurable ROI. So, let us now see how Adobe Commerce streamlines B2B workflows, tailors customer journeys, fortifies security measures, provides invaluable data insights, and so much more.
Automated Processes
Challenge: Manual procedures and data input impede the pace of B2B transactions, leading to plummeting efficiency levels and elevating error rates.
Solution: With Adobe Commerce, automation takes center stage, alleviating repetitive tasks such as quote generation, invoicing, etc. It allows companies to also configure approval workflows for orders or quotes, thus further simplifying complex B2B purchasing procedures.
Personalized Customer Experiences
Challenge: B2B buyers have varied needs depending on the industry in which they work and/or the scale of their operations.
Solution: Adobe Commerce allows eCommerce companies to offer customized interactions for each of their customer segments. The platform can be used to harness account hierarchies to navigate intricate buyer structures without a fuss. One can also use tailored catalogs to highlight important products for specific groups. And let us not forget the tiered pricing structures which can be implemented to offer volume discounts or segment-based pricing.
Improved Data-Driven Decision Making
Challenge: Conventional analytics tools generally do not have the depth needed to identify intricate B2B customer actions and purchasing trends.
Solution: Adobe Commerce’s robust reporting and analytics tools are tailored for B2B applications. These tools provide invaluable insights into customer purchase histories, analyze buying trends across different segments, and identify growth opportunities. Additionally, one can monitor metrics such as reorder rates or even quote conversion rates to fine tune B2B sales and marketing strategies.
Improved Customer Self-Service & Reduced Support Costs
Challenge: B2B buyers often turn to customer service for routine inquiries, thus elevating the workload and support expenses for the eCommerce stores.
Solution: Adobe Commerce helps empower B2B buyers with self-service for account administration, order monitoring, and reorder capabilities among other things. The platform is also conducive for setting up exhaustive knowledge repositories and FAQs to address typical queries. This reigns in the dependence on customer service for routine tasks, liberating the customer support team to focus on more intricate customer concerns.
The failure to adapt to the swiftly evolving B2B eCommerce landscape results in the risk of businesses being relegated to the shadows. But not when you have Adobe Commerce in your arsenal. As the above discussion demonstrates, it not only stands to help with better B2B customer experiences and B2B sales growth but also with personalized B2B experiences. However, it is crucial to recognize that a powerful B2B eCommerce platform is only as good as its implementation.
This is where Wagento comes in. We are not merely service providers; we are your steadfast partners in B2B eCommerce. Armed with a team of seasoned experts boasting extensive experience and expertise with Adobe Commerce, we know just how to help you find your way around this handy platform. We fortify this assurance with our Budget Guarantee: if your eCommerce project exceeds the agreed-upon budget, save for owing to client changes, we will pay a month’s worth of your revenue.
