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BizReport : Ecommerce archives : January 13, 2017

B2B organizations struggle to provide streamlined, frictionless commerce experiences

There is a significant gap in customer expectations and actual experience in B2B commerce, finds a new study from CloudCraze, leading many organizations to reevaluate customer interaction and sales strategies.

by Helen Leggatt

CloudCraze's '2017 B2B Digital Commerce Imperative Study' found that more than one-quarter (27%) of B2B organizations plan to spend at least $2 million in the next year on improvements to their commerce systems.

Currently, many B2B organizations rely on outdated and inflexible commerce systems that leaves a significant gap between customer expectations and customer experiences. In fact, in their survey of 200 B2B and B2C businesses with an online presence, CloudCraze found that nearly two-thirds (65%) were running on commerce platforms that are more than two years old, "demonstrating a lag in the implementation of sophisticated digital offerings".

This lag means that, while 55% of business buyers expect mobile access to a seller's commerce platform, and 52% expect convenient payment processes, most B2B commerce system simply can not provide these offerings. This leads to challenges such as cost efficiency, providing a seamless, omni-channel customer experience, effective use of commerce data and the ability of achieving an holistic view of the customer.

As a result, businesses have missed out on revenue. Seventy percent of businesses say they have lost a business deal because of an ordering-specific pain point, and 31% say they've missed out on at least $2 million in sales.

"The digital shift is revolutionizing the B2B commerce industry, so B2B businesses must reevaluate how they interact with customers and execute sales strategies," said Chris Dalton, CEO of CloudCraze. "There is a clear rift within the industry when it comes to the expectations of B2B buyers and opportunities provided by enterprises."

Tags: B2B, commerce platform, ecommerce, research

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