B2B businesses are undergoing a seismic shift in how they do business, and it is all being driven by their customers.  They are demanding the same experience in B2B purchases that they enjoy in B2C.  Based on a study by McKinsey & Co. 86 percent of respondents stated that they prefer using self-service tools for purchases without the need to speak with a sales representative even for purchases of $50,000 or more.  The inability for them to quickly and effortlessly make a purchase emerged as the #1 pain point, and for many became the major reason why they moved on to another provider.

The days of putting your PDF product catalog on the website with “Call for a Quote” in the product description are over.  Even if your sales reps are hyper responsive and meet or exceed the industry standard 2 minutes of wait time, customers do not want to call in and interact with sales or customer service.  They are demanding dynamic websites with up-to-date product and pricing information.  Customers want to be able to go online and see detailed product descriptions, graphic images, updated inventory, and pricing information.  Have the ability to log in to a portal and with their credentials and access product pricing based on their volume of business.  Access information on bulk order discounts and product promotions that allow them to get the product at a discount.   Customers also want easy and flexible purchase options which include the ability to establish credit terms. And after the order is placed, get regular updates on order status, shipment status and delivery times.

So where to start?  The most important factor is to focus on the customer journey.  Compare your online buying experience to those of your closest competitors or companies you would like to emulate.  Start by going on your website and navigate it as a customer. 

• Is your site user-friendly and does it allow you to find product, inventory and pricing information easily? 
• Can you order products, add them to cart, and make a purchase without human intervention?
• Does your site have additional product content or third party user reviews to support the customer’s buying decision?
• Do you provide a personalized shopping experience?  Can your customers log in to a portal with a custom product catalog optimized based on their shopping patterns?
• Can you message with someone via a Chat Bot in case you have a question or require some more information?
• If you're a new customer, is it easy to onboard and make a purchase?  Can you set up credit terms online?
• Is your store set up to provide eProcurement allowing different stakeholders access and authorization rights through the purchasing process?

Top Benefits of Self-Services Portal

Start by mapping out exactly the customer journey you’d like to provide.  Then use those findings to develop a technology strategy.  Don’t get tethered to a technology based on what you’ve read or what a vendor is promoting.  Lead with the customer journey and let it map out what tools you are going to need.  Work on automating as many or the back end processes by integrating your store to your ERP and CRM systems.  That way, most of the heavy lifting is done through process automation which allow your customers to interact with their personalized data in real time, leading to happier customers and a more efficient buying process.