Yesterday, this blog brought to light a survey that indicates a number of businesses desire a purchasing and payment experience similar to that of B2C transactions. The study released by Hybris not only found that two out of five businesses have left vendors that failed to offer a B2C shopping experience, it produced a number of insights companies must be cognizant of.
According to the study, 85 percent of B2B buyers prefer shopping online over any other option. The traditional meeting or sales call simply aren't sufficient in the 21st century, mainly because it's much easier to pay for products online rather than in person or over the phone. Additionally, 84.4 percent of respondents said it is easy to find the products and services they are looking for online, versus only 70.7 percent that said it's easy to find what they are looking for in a catalogue.
Ultimately, respondents suggest the biggest advantage of buying online is the peace of mind in knowing the status of each item, as well as their payment information. A staggering 88.6 percent of B2B buyers said it's easy to track orders and payment status online. Only 62.7 percent said it was easy to do so offline.
This shows that customers place transparency and security over all other factors pertaining to B2B transactions. They want to know where their items are. They want to know that their payment information is safe. Vendors must implement systems designed to present a real-time look at the status of their processed orders, as well as a secure checkout solution that protects sensitive data. Working with a B2B payments provider can allow vendors to acquire the tools needed to provide their customers with an excellent online shopping experience.