How Will B2B Selling Evolve in 2024?

The world of sales in general is evolving as we move deeper into the eCommerce era that’s dominating sales at present. Not only that but buyers are also changing the way they purchase, with around one-third of B2B purchases happening through an eCommerce marketplace – Amazon’s B2B marketplace is the perfect example. 

2024 is right around the corner — and with the rapid evolution of eCommerce and the preference to shop online increase, how will B2B selling evolve in 2024? Explore below.

More Personalization

Buyers want a personalized experience – and perhaps even more so than B2C shoppers would. The buying cycle for B2B selling is much more complex – with six to ten people involved in each purchase naturally, you can see why personalization will become more of a priority. Many B2B brands are turning to b2b rewards as a way of personalizing the shopping experience. And, b2b incentive programs are proven to retain customers and increase profits. 

Plus, 70% of buyers will recommend a brand if it has a good loyalty program. Follow the link to view an example of a b2b loyalty program that works www.incentivesmart.com/customer-loyalty. One study found that 50% of consumers changed their behaviours in the hope of reaching a higher tier of rewards – therefore proving that rewards programs are effective at getting people to spend more money.

Sales Driven By Insights

Insights are a rapidly evolving trend that’s likely to continue its evolution into 2024, and brands focus more on lead scoring and sales driven by insights. And why wouldn’t they? Sales that are driven by insights just make sense. You wouldn’t drive without any headlights on, so why should you do business without insights into what’s going to work best for your business?

That’s where the evolution of marketing automation and AI come into play – enabling B2B sellers to understand their consumers better. From buyer habits like how they prefer to shop through your website to the acquisition of new customers based on your social media interactions – insights are invaluable. Linking back to personalization, insights powered by AI allow sellers to interact with buyers and personalize the information they’re seeing.

A Shift Towards Digital Interactions

The digital shift is forcing businesses to think of ways they can provide better digital interactions with their customers – focusing on the ever-growing preference to shop online. A perfect example is the use of live chats hosted through your website – a method many B2C brands implemented to give their consumers a more direct way of contacting them for support if they needed it.

Interestingly, a study conducted found that 70% of B2B buyers now prefer digital interactions rather than face-to-face. Not only is it more convenient, especially for international trades, but it’s also fuelled by the pandemic and the rise of virtual meetings. Thanks to Zoom and Microsoft Teams, virtual meetings are easier than ever before. 

Consider the rising trends both for sales and marketing, and consider how your business will adapt in 2024. There is a clear shift towards digital preferences – both as a form of communication and sales. 2024 should mark the year that B2B shifts towards digital buying trends and leaves behind the old-school selling tactics that have reigned supreme.