The B2B e-commerce market will never be the same as it was before the new “normal”. As the B2B industry is ever-evolving, CMOs should be flexible with their marketing strategies and capitalize on technological advancements to successfully execute their strategy.
Since the onset of the pandemic, the industry that thrived and defied all odds is the e-commerce industry. While it did face its share of challenges, it has emerged strong and continues with the same momentum. As per a 2022 report from Statista, global e-commerce sales in 2021 surged to approximately US $ 4.9 trillion. The report predicts that the figures will grow by more than 50 percent over the next four years, reaching about the US $ 7.4 trillion by 2025.
This immense surge in online commerce has provided CMOs a significant opportunity to target the right audience. The data from Statista also indicates that today’s user groups have a better understanding of modern technology and how a range of devices can influence human behavior in the marketplace.
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In such a dynamic environment, CMOs should build strategies that will enable them to seamlessly follow the trends that may come. Here are four strategies that CMOs should implement to succeed in 2022 and beyond:
Strengthen Technology Stack
To scale the brand, CMOs should begin to incorporate software automation tools in their marketing stack. For B2B marketers, incorporating marketing automation tools helps to increase conversion rates. Additionally, if the organization wants to improve its marketing campaign effectiveness, automation can be a game-changer.
Since identifying suitable tools is not an easy task, a few things that CMOs should take into consideration before browsing for multi-function software solutions includes:
- Make sure the device can seamlessly integrate with the existing martech stack.
- If CMOs do not want to recruit an IT team, they should ensure that their system is SaaS and cloud-based.
- Arrange a demo with the sales team to be certain that all requirements are being met.
Reflect on visual commerce
Human beings are wired to visual images; they are more likely to remember visual content than any other form. Hence, CMOs should prioritize the visual aspect of commerce. This not only makes the product images more appealing but also has the potential to boost product page engagement. Also, as many B2B buyers will shift to online for their products, visual commerce will play a critical role in converting them into customers.
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Exhibit data security and compliance
With the rise of threat actors both in the e-commerce space, customers have become more concerned about their data. Since the past couple of years have revealed that a few websites found the customer information, both in the leisure and social media industry, many have become even more hesitant to share their information.
To effectively deal with this, B2B organizations should prioritize confidentiality. CMOs should ensure that they have applied opt-in procedures and build a system that provides prospects to opt out if they wish.
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