Boost your B2B E-Commerce conversions with Intelligent Site Search
Image credit: Pavel Danilyuk
In the age of digital and artificial intelligence, the B2B E-Commerce sector in Asia-Pacific has witnessed a remarkable growth. As per Report Ocean, Asia-Pacific B2B E-Commerce market will grow by 12.6% annually with a total addressable market of US$216,568.4 billion over 2022 – 2030.
However, amidst this rapid expansion, one crucial aspect that often determines the success of a B2B E-Commerce channel is its “Site Search” capabilities. A great site search functionality plays a pivotal role in enhancing buyer experience, increasing conversion rates, and driving overall business growth.
B2B buyers don’t shop online for pleasure or entertainment. They shop online as they are required to perform their duties at work of procuring products/services for their business. Buyers expect to quickly find what they are looking for on the supplier’s website, and checkout as fast as they can.
According to Wunderman Thompson, 81% of global B2B buyers wants to get from inspiration to purchase as quickly as possible. They can this “Compressed Commerce”. Furthermore, they observed that Indian B2B buyers are those that want “Compressed Commerce” the most (94%), while it is Japanese B2B buyers who are the least interested – the figure (63%) is still high.
Therefore, Site Search is more than just a search bar on a website for them. It serves as the gateway to a vast array of products and services related information, enabling them to navigate through the platform more effectively and efficiently.
Let’s explore top 3 advantages of having an intelligent site search powering your B2B E-Commerce platform and how it can enhance buyer satisfaction and increase conversion rates.
1. Enhancing buyer experience
An intelligent site search ensures that buyers can quickly find the products they are looking for. With advanced algorithms and indexing techniques, an intelligent site search can retrieve relevant products from a vast catalogue, reducing the time and effort required for buyers to discover the products they are looking for.
In addition, buyers can refine their search results through various filters with faceted navigation. By categorising products based on attributes such as price range, brand, or specifications, buyers can narrow down their options more effectively. Faceted navigation empowers buyers to customise their search journey, leading to higher satisfaction and increasing chances of finding the right products.
2. Increasing conversions rates
An intelligent site search not only assists buyers in finding specific products but also presents them with relevant product recommendations. By analysing buyer behaviours, purchase history, and preferences, an intelligent site search engine can showcase related or complementary products. This personalised approach enhances cross-selling and upselling opportunities, increasing the average order value and driving more sales.
Furthermore, through intelligent algorithms, site search can identify patterns and associations amongst products. An intelligent site search engine can adapt to individual buyers' preferences and behaviours, providing tailored search results and recommendations. By delivering relevant content and product suggestions, businesses can foster stronger bonds with buyers and improve conversion rates.
3. Leveraging analytics for continuous improvement
An intelligent site search capability generates valuable analytics and reports that highlight buyer behaviours, popular searches, and areas for improvement. By analysing these insights, you can continuously enhance your search functionality, optimise search results, and refine your product offerings. This iterative approach ensures that your site search feature evolves with the changing needs and demands of the buyers.
Moreover, an intelligent site search provides valuable data and insights that can drive your business growth. By analysing search queries, you can identify trends, and make informed decisions to improve your overall competitiveness.
As the development of artificial intelligence continues, you can further extent your site search capabilities by infusing it with natural language understanding, and conversational abilities. Artificial intelligence can ask clarifying questions, understand follow-up queries, and provide dynamic responses based on buyer’s input.
In conclusion, implementing an intelligent site search feature on your B2B E-Commerce platform can yield significant benefits for your business. By focusing on enhancing buyer experience, increasing conversion rates, and leveraging analytics for continuous improvement, you can create a search-centric environment that drives success. Investing in an intelligent site search engine is an investment in your buyers and your business's growth.
Source: Report Ocean | Wunderman Thompson