The Retail Business has seen a lot of changes over the past year, from shifts in buyer mindset to the push for validated solutions. As we approach next year, we’ll see even more change as businesses continue to adapt to the new standard of remote operations and digital commerce. Customers are becoming more deliberate and strategic in their purchasing decisions, seeking to maximize value and minimize unnecessary spending. These factors set the stage for the radically different era of buying and selling we find ourselves in. To help you prepare your business for the next stage in digital commerce history, here are four of the biggest trends that will expect in the coming year.
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B2B sales in digital:
Perhaps the most notable change brought about by the pandemic is the shift to remote operations. B2B buyers are now taking on their research, purchasing and deployment from a fully digital perspective. COVID-19 has accelerated this approach and made it essential for B2B companies to offer their solutions in a seamless digital shopping experience. Looking to 2021 and beyond, these changes will only gain momentum. Reaching potential customers at their desks, while they are doing their jobs, is a smart way to affect them at every stage of the buyer’s journey. The combination of these approaches will give teams more agility to meet the unique needs of each customer. Digital tools like intuitive search capabilities, easy-to-navigate web pages, and other assets will be the key differentiator as to whether a distance selling can take place.
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A consumer approach to B2B purchasing:
The customer mindset around buying behaviour has led to the need for more robust digital platforms and markets. Buyers are rethinking the way they shop and have more tools to find personalized solutions to meet specific needs. As e-commerce takes its place in the spotlight, the lines between B2B and B2C continue to blur. Customers will be looking for more than a good product and they need high-quality user experience. The process of buying business software will need to be further streamlined, with buyers’ expectations focused more on the same level of simplicity as if they were buying products online. The success of B2B sellers will largely depend on their ability to treat prospects like everyday consumers, guiding them through the entire customer journey – from initial research to final purchase.
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Breaking the traditional buying cycle:
Where businesses once adhered to a specific schedule, such as quarterly or annual purchases, to meet their software needs, they now seek to make those decisions at will, without restrictive deadlines. In a business landscape dominated by COVID-19, flexibility and agility can be the difference between simply surviving and moving forward on a growth trajectory. Things like fixed buying cycles will continue to be removed in favour of purchases on an ongoing basis. Due to this, B2B companies will be better equipped to weather crises while keeping their operations and digital transformation efforts on track for the future.
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Customers will look for validated solutions:
In an age where every purchase is considered before moving forward, businesses need to be confident in their decisions. There are many options available in the enterprise software market, but it is not always immediately clear which one is right for a specific business need. With squeezing budgets, particularly due to COVID-19, B2B customers will demand validated products and the ability to try before they buy. Beyond product testing, having a strong set of partnerships not only creates personalized solutions but can also give the customer an added sense of trust.
2021 will be a big year for digital commerce:
As the mindsets and behaviours of B2B buyers change, we see an even greater need to buy software online. B2B customers take a more consumer-centric approach to their decision-making process, so having digital channels where they can easily shop, conduct research, see the value of a given product and conduct digital transactions. With all of the chaos of 2020, retailers face the challenge of reaching their customers in more creative and targeted ways. Everything indicates that e-commerce and other aspects of digital marketing will thrive and continue to grow in 2021. Norin digital specializes in growing e-commerce merchants by providing them with useful information, digital marketing services, out-of-the-box applications that solve common problems, and custom programming services. If you want to accelerate the growth of your online sales, please contact us.
