www.CWTA.org
Larken_INTL TR & COMMERCE
Larken_NEWSLETTER

MAY 2022

Powered by
Parker Poe_horizontal_logo
Good day, [subscriber:firstname | default:reader],

Hyperactivated by the last two years of pandemic business disruptions and supply chain issues, businesses are more than ever focused on participating in the global marketplace to ensure their business stability, resilience and revenue streams. As the EXIM Bank is quick to point out in A Basic Guide to Exporting, "The world is open for your business."

For American companies, exporting makes more sense now than ever before. Exporting has become a lot easier for companies of every size, including small and medium-sized businesses.
US Chamber 80-92-95 Trade Chart2
Whether you’re selling erasers or carburetors, one of your biggest business concerns is finding and attracting new customers. The good news is that a world of potential businesses and customers are out there, just waiting to buy what you’re selling.
(Text continues below.)
IBTD1 Website
Intl Market01
In 2020, the global B2B e-commerce market size was valued at USD 6.64 trillion and is expected to expand at a compound annual growth rate (CAGR) of 18.7% from 2021 to 2028.

Despite being slow to adopt ecommerce, B2B brands are increasingly looking to digital means to boost sales—a move driven by the success of Amazon Business and the changing B2B buyer demographic.

The B2B sector is evolving. The audience is changing. In 2020, close to half of B2B buyers are millennials—nearly double the amount from 2012. As the “typical” B2B buyer changes, a business’ sales process should too. Where Baby boomers preferred getting their information from data sheets, sales literature and product trials, and Gen X sought information from trade shows, conferences, print ads and sales reps, Millennials expect that same personalized experience through streamlined, digital channels.
(Text continues below.)
WANTED

JOIN OUR WEBINAR!!!!!!!!!!

Claim Your International Marketing Websites
Grow Your Exports, Sales, Brand & Business

The Carolina World Trade Association (CWTA) has teamed up with IBT Online to share insights, case studies, client testimonials, and expertise in delivering online success with digital business development solutions.

North and South Carolina companies can learn how to take advantage of the SBA STEP program to fund $10K toward the development of up to two internationally localized marketing websites to help you grow your exports, sales, brand, and business globally.

THURSDAY, MAY 19, 2022 3:00 PM
Register now and come join our webinar!

Today's B2B buyer conducts approximately 12 online searches before making a purchase from a specific brand. In response, 55% of B2B marketing budgets are directed toward digital efforts that help provide a more personalized buying experience. Many businesses are also looking at AI to gain a competitive advantage through chatbots and search marketing and augmented reality (AR) to better interface with the audience.

Of particular interest are the top B2B trends. As many as 50% of B2B companies prefer blogging as a marketing strategy, while 40% look to sending email newsletters and creating social media content. Digital methods of content marketing have replaced print ads and brochures, and B2B audiences are finding brands across many different channels.

B2B buyers expect increased digital efforts from vendors including personalized portal content, an easy-to-use ROI calculator, AR options and video chat options.

According to a survey conducted by Isoline in 2019, 53% of B2B decision-makers said video was the most useful form of content, followed closely by case studies. While the sales funnel was once very straightforward, now 90% of B2B buyers enter, exit and reenter the funnel at various points.

As much as 80% of B2B buying decisions are based on a buyer’s direct or indirect customer experience, and only 20% is based on the price or the actual offering.
Jonathan Szucs E_award
For Advanced Superabrasives, the launch of two new websites in Mexico and Canada was a success with immediate ROI: “When we started working with IBT Online, our website was just based in the U.S., and we had no presence elsewhere. Within weeks of our websites going live in those markets, we went from cold-calling to getting over 10 requests for quotes a week and that’s huge.” View Jonathan's testimonial here!

Jonathan Szucs, President, Advanced Superabrasives Inc, Vice Chair of the North Carolina District Export Council, Recipient Presidential E Award for Exporting Excellence

Top B2B e-commerce trends for 2022:

1. Focus on creating B2C-like experiences for shoppers. B2B buyers do extensive research: They conduct approximately 12 online searches before making a brand purchase and a full 74% of B2B buyers research at least half of their work purchases online.
2. Acceleration of online marketplaces. In 2018, online marketplaces such as Amazon, eBay, Alibaba.com, Etsy and Catch dominated the retail B2C industry, accounting for more than 50% of global online retail sales. According to Gartner, the enterprise marketplace is a new business model that creates wider ecosystems, has new capabilities, and allows brands to generate new sources of revenue.
3. Companies are embracing B2B mobile commerce. B2B research and data indicates the importance of a seamless mobile experience for B2B customers: 70% of B2B queries are made on smartphones and mobile drives, or influences, an average of over 40% of revenue in leading B2B organizations.
4. Growing expectations of B2B customer personalization. 50% of B2B buyers identified improved personalization as a key feature when searching for online suppliers with whom to build relationships, with consumers spending 48% more when their experience is personalized.
5. Launching a DTC Channel. DTC competitors one of the biggest challenges many B2B brands are facing right now. Consider this a new revenue stream, reaching new customers ready to buy, or selling products partners can’t house in large quantity.
6. Integration of systems for multi-channel selling. Rather than a large, expensive e-commerce platform that requires expensive customizations and a whole team to run, consider integration providers that tie multiple systems together to efficiently manage your business.
7. Demand for fast B2B order fulfillment. In a post-Amazon world, millennials are driving the demand for fast order fulfillment with 73% of them involved in the B2B buying process today. Streamline fulfillment processes by using order management software.

In 2022, brands and businesses will make direct relationships and better shopping experiences a priority to keep B2B buyers and B2C customers away from marketplaces and coming back for more. The mantra will become “anywhere commerce” as first movers and fast followers alike pursue presence in every possible shopping moment, from an owned website to an influenced marketplace or social platform to a paid retail media placement.

Commerce technology is a vital component in any shopping experience—owned, influenced, or paid. To fulfill the potential of anywhere-commerce, merchants and B2B companies will tackle their technology foundations with more investment energy. You’ll be seeing big changes in digital commerce technology in 2022!

A good way to get on that bandwagon is to participate in CWTA’s and IBT Online's online marketing webinar!
Tell Us What You Think2
We'd love to know what you think of this and the other stories in the newsletter--feel free to click on the link below and send us your remarks!
- ALL 2021 Sponsor Logos trimmed
CWTA_Bordered

Carolina World Trade Association

Founded in 1964, the Carolina World Trade Association (CWTA) promotes the growth of trade between North Carolina and the world by providing education and networking opportunities for our global ecosystem.

As a business-driven non-profit organization, CWTA’s mission is to promote, foster, and encourage international commerce success and expand economic growth in the Carolinas region. We do this by:
  • Advocating the interests of businesses engaged in international trade on local, regional, state, and federal levels;
  • Educating businesses and their employees to the resources, issues, policies, and practices within international trade;
  • Promoting regional assets and opportunities for expanding inbound and outbound international commerce; and
  • Celebrating the successes of international trade in the region.
Please visit our website!
facebook twitter linkedin email 
CWTA_Bordered