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Top 10 B2B Ecommerce Trends 2022

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With the increase in demand for e-commerce solutions for products, statistics show that the B2B e-commerce trends will change by 2028, increasing the market to USD 25.65. And even though this number is still an approximation, there won’t be any business that would wish to lose on growth stairs and reach success.

After the pandemic, all of us have observed how online commerce and digital practices have shot up, making businesses rethink their priorities and adopt new ways of the digital medium at a faster rate. 

In an environment where every company has similar marketing and sales channels, Salesforce’s B2B Commerce Platform helps companies with tailored approaches according to their needs and business priorities.

With a robust data model and various innovative products to work for results, Salesforce B2B Commerce Solutions is a great solution. But before we dive into that, we need to understand the foreseen B2B e-commerce trends in 2022 to streamline our needs and align them with solutions better!

B2B Ecommerce Trends in 2022

1. Internet is the new local market

With the growing interactions over the internet and the emergence of products like Metaverse, people are getting more attracted to the idea of online exploration rather than in-person and this is even impacting their purchase behaviours.

75% of B2B buyers are sticking to the digital interactions even after the pandemic’s intensity, and restrictions decrease, which shows that digitization within B2Bs will be the B2B e-commerce trend of 2022.

2. Marketplaces are the new craze!

Experts predict that due to the current sway in demand, Marketplaces as digital platforms will be the biggest hype as they will be connecting buyers and sellers ranging from small to large businesses and enterprises.
The marketplace scenario will let B2Bs get over additional sellers under their shade and thus allow them to provide third-party products giving B2B buyers a plethora of options to look from.

3. Self Service Portals

Customers get attracted to businesses who understand their issues and do not provide them general options for their demands but rather serve them personalized ways to function with the business. . And that’s the reason; even after being in demand, self-service portals will be one of the B2B e-commerce trends in 2022.

The experience expected by customers is more like researching through products, comparing with given options, and ordering/reordering along with shipment tracking, just the way we have in e-commerce giants. So self-service is going to remain in demand.

4. Focusing more on acquiring customers

Along with self-service portals for customers, the other factor B2B brands are focused on now is acquiring new customers for their brands. Since most B2B brands have started their digital journeys, they are eager to utilise the power of digital marketing.
B2B brands are working on bringing up data-driven marketing strategies, social media campaigns, etc., in the place of the existing cold calling and mass emails to pull out more new customers and maintain loyalty regarding their existing customers.

5. Automation is the new step to climb

Customer retention is something all B2B commerce brands focus on, but they even keep changing their platforms to align with the ongoing trends to stay in the market, and this shift acts as a hurdle for the customers to complete their purchases.

Brands have been focusing on automating their processes, but they were majorly the simpler orders since the orders are getting more complex; there’s a demand for automation of those as well by the B2B buyers so that we can see more automation in the coming time.

6. Flexibility is the key

B2B buyers need choices and flexibility as they demand more control in their purchase transaction flow. In simpler words, we can say that buyers wish to configure the purchase of complicated products online.
Medical device manufacturers are allowing their customers to purchase consumables as per their specifications and spare supplies, which has resulted in a good spike in sales.
So considering current demands and situations brands have to think about more features than easier re-orders to be in the eyes of customers. 

7. B2B is getting mixed into D2C initiatives

As a result of the pandemic, many B2B investments found functioning with the principles of D2C initiatives better as they were capable to reach directly to customers even in such strained situations with no extra expenses.

Due to the pandemic, many B2B businesses felt it was easier to directly supply to the consumers, making the difference between B2B and D2C quite blurry. And due to this, companies are expected to support channel shifts, and businesses working both as B2B and D2C are aimed at a B2B e-commerce trend in 2022.

8. Integration is a new challenge as well as the trend

Since businesses are expected to move to more digitalized paths due to the current demand, it is expected that they will want to integrate their existing legacy establishments with current digitalized platforms, thus enhancing the demand for integration measures and making it a challenge at the same time.

9. Content is the key

Since B2B e-commerce is walking on the path of digitalization, good quality content is something that cannot be avoided. Content is an enhancer of digitization efforts, from cold-calling to social media campaigns and emails; hence, various forms of content will be the hype for the e-commerce field.

10. Security was and always will be important

B2B organisations deal with a lot of data, be it customers or their inventories. This humongous amount of data means high chances of security breaches, and that’s why a flowing trend in B2Be-commerce will be cybersecurity and data security. Businesses will be working on and investing in security technologies and resources to avoid such threats and breaches.

CONCLUSION

In the concluding words, we can say that Salesforce B2B e-commerce platforms and their digitalization are the new hype that will be evident in the market and a top investment for all buyers, sellers, and enthusiasts. You can develop and leverage a Salesforce B2B ecommerce storefront with these new B2B ecommerce trends.  We aim to see many new and flowing trends in the B2B e-commerce trends in 2022, and rapidly changing customer demand and preferences and emerging technologies will emerge many new trends to be added to the list. 

Author:
Ecommerce Consultant, I’m helping business and organization who run ecommerce website to provide scalable ecommerce solution.
https://cyntexa.com/blog/b2b-ecommerce-trends-2022/

TECHNOLOGY

What’s Wrong with the Algorithms?

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What's Wrong with the Algorithms?

Social media algorithms have become a source of concern due to the spread of misinformation, echo chambers, and political polarization.

The main purpose of social media algorithms is to personalize and optimize user experience on platforms such as Facebook, Twitter, and YouTube.

Most social media algorithms sort, filter, and prioritize content based on a user’s individual preferences and behaviors. Social media algorithms have come under scrutiny in recent years for contributing to the spread of misinformation, echo chambers, and political polarization.

Facebook’s news feed algorithm has been criticized for spreading misinformation, creating echo chambers, and reinforcing political polarization. In 2016, the algorithm was found to have played a role in the spread of false information related to the U.S. Presidential election, including the promotion of fake news stories and propaganda. Facebook has since made changes to its algorithm to reduce the spread of misinformation, but concerns about bias and polarization persist.

Twitter’s trending topics algorithm has also been criticized for perpetuating bias and spreading misinformation. In 2016, it was revealed that the algorithm was prioritizing trending topics based on popularity, rather than accuracy or relevance. This led to the promotion of false and misleading information, including conspiracy theories and propaganda. Twitter has since made changes to its algorithm to reduce the spread of misinformation and improve the quality of public discourse.

YouTube’s recommendation algorithm has been criticized for spreading conspiracy theories and promoting extremist content. In 2019, it was revealed that the algorithm was recommending conspiracy theory videos related to the moon landing, 9/11, and other historical events. Additionally, the algorithm was found to be promoting extremist content, including white nationalist propaganda and hate speech. YouTube has since made changes to its algorithm to reduce the spread of misinformation and extremist content, but concerns about bias and polarization persist.

In this article, we’ll examine the problem with social media algorithms including the impact they’re having on society as well as some possible solutions.

1. Spread of Misinformation

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Source: Scientific American

One of the biggest problems with social media algorithms is their tendency to spread misinformation. This can occur when algorithms prioritize sensational or controversial content, regardless of its accuracy, in order to keep users engaged and on the platform longer. This can lead to the spread of false or misleading information, which can have serious consequences for public health, national security, and democracy.

2. Echo Chambers and Political Polarization

Political_Polarization.jpg

Source: PEW Research Center

Another issue with social media algorithms is that they can create echo chambers and reinforce political polarization. This happens when algorithms only show users content that aligns with their existing beliefs and values, and filter out information that challenges those beliefs. As a result, users can become trapped in a self-reinforcing bubble of misinformation and propaganda, leading to a further division of society and a decline in the quality of public discourse.

3. Bias in Algorithm Design and Data Collection

Bias_in_Algorithm_Design.png

Source: Springer Link

There are also concerns about bias in the design and implementation of social media algorithms. The data used to train these algorithms is often collected from users in a biased manner, which can perpetuate existing inequalities and reinforce existing power structures. Additionally, the designers and developers of these algorithms may hold their own biases, which can be reflected in the algorithms they create. This can result in discriminatory outcomes and perpetuate social injustices.

4. Democracy in Retreat

Derosion_of_Democracy.jpeg

Source: Freedom House

Social media algorithms are vulnerable to manipulation and can spread false or misleading information, which can be used to manipulate public opinion and undermine democratic institutions. The dominance of a few large social media companies has led to a concentration of power in the hands of a small number of organizations, which can undermine the diversity and competitiveness of the marketplace of ideas, a key principle of democratic societies.

How to Improve Social Media Algorithms?

Boost_Social_Media_Posts.jpeg

Source: Tech Xplore

Governments and regulatory bodies have a role to play in holding technology companies accountable for the algorithms they create and their impact on society. This could involve enforcing laws and regulations to prevent the spread of misinformation and extremist content, and holding companies responsible for their algorithms’ biases.

There are several possible solutions that can be implemented to improve social media algorithms and reduce their impact on democracy. Some of these solutions include:

  • Increased transparency and accountability: Social media companies should be more transparent about their algorithms and data practices, and they should be held accountable for the impact of their algorithms on society. This can include regular audits and public reporting on algorithmic biases and their impact on society.

  • Regulation and standards: Governments can play a role in ensuring that social media algorithms are designed and operated in a way that is consistent with democratic values and principles. This can include setting standards for algorithmic transparency, accountability, and fairness, and enforcing penalties for violations of these standards.

  • Diversification of ownership: Encouraging a more diverse and competitive landscape of social media companies can reduce the concentration of power in the hands of a few dominant players and promote innovation and diversity in the marketplace of ideas.

  • User education and awareness: Social media users can be educated and empowered to make informed decisions about their usage of social media, including recognizing and avoiding disinformation and biased content.

  • Encouragement of responsible content creation: Social media companies can work to encourage the creation of high-quality and responsible content by prioritizing accurate information and rewarding creators who produce this content.

  • Collaboration between industry, government, and civil society: Addressing the challenges posed by social media algorithms will require collaboration between social media companies, governments, and civil society organizations. This collaboration can involve the sharing of data and best practices, the development of common standards and regulations, and the implementation of public education and awareness programs.

Conclusion

Social media companies have the power to censor and suppress speech, which can undermine the right to free expression and the democratic principle of an open and inclusive public discourse. It is crucial for technology companies and policymakers to address these issues and work to reduce the potential for harm from these algorithms. Social media platforms need to actively encourage and facilitate community participation in the development and improvement of their algorithms. This would involve setting up forums for discussion and collaboration, providing documentation and support for developers, and engaging with the community to address their concerns and ideas. In order to ensure that the algorithms are fair and unbiased, tech companies need to be transparent about the data they collect and use to train their algorithms. This would involve releasing the data sets used to train the algorithms, along with information about how the data was collected, what it represents, and any limitations or biases it may contain.

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TECHNOLOGY

Daasity builds ELT+ for Commerce on the Snowflake Data Cloud

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Cloud Computing News

Modular data platform Daasity has launched ELT+ for Commerce, Powered by Snowflake.

It is thought ELT+ for Commerce will benefit customers by enabling consumer brands selling via eCommerce, Amazon, retail, and/or wholesale to implement a full or partial data and analytics stack. 

Dan LeBlanc, Daasity co-founder and CEO, said: “Brands using Daasity and Snowflake can rapidly implement a customisable data stack that benefits from Snowflake’s dynamic workload scaling and Secure Data Sharing features.

“Additionally, customers can leverage Daasity features such as the Test Warehouse, which enables merchants to create a duplicate warehouse in one click and test code in a non-production environment. Our goal is to make brands, particularly those at the enterprise level, truly data-driven organisations.”

Building its solution on Snowflake has allowed Daasity to leverage Snowflake’s single, integrated platform to help joint customers extract, load, transform, analyse, and operationalise their data. With Daasity, brands only need one platform that includes Snowflake to manage their entire data environment.

Scott Schilling, senior director of global partner development at Snowflake, said: “Daasity’s ELT+ for Commerce, Powered by Snowflake, will offer our joint customers a way to build a single source of truth around their data, which is transformative for businesses pursuing innovation.

“As Snowflake continues to make strides in mobilising the world’s data, partners like Daasity give our customers flexibility around how they build data solutions and leverage data across the organisation.” 

Daasity enables omnichannel consumer brands to be data-driven. Built by analysts and engineers, the Daasity platform supports the varied data architecture, analytics, and reporting needs of consumer brands selling via eCommerce, Amazon, retail, and wholesale. Using Daasity, teams across the organisation get a centralised and normalised view of all their data, regardless of the tools in their tech stack and how their future data needs may change. 

ELT stands for Extract, Load, Transform, meaning customers can extract data from various sources, load the data into Snowflake, and transform the data into actions that marketers can pursue. For more information about Daasity, our 60+ integrations, and how the platform drives more profitable growth for 1600+ brands, visit us at Daasity.com.

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4 Activities that Automakers Can Digitize Now

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4 Activities that Automakers Can Digitize Now

Digital automaking is supported by technology-driven trends, consumer needs and new developments in artificial intelligence.

Manufacturing, procurement of raw materials, marketing and sales are factors involved in this change.

Digital automaking is a process that combines simulation, three-dimensional visualizations, analytics and several tool partnerships to make automotive manufacturing easier. Since the automotive industry has been undergoing a digital transformation primarily driven by intelligent mobility, it has encouraged the market to adopt new technology and software for modern vehicles. There has also been a growing need to increase industrial processes’ sustainability, environmental friendliness and adaptability. All of this has made automotive digitalization extremely important.

Automotive digitization helps to keep precise control over business operations, which is made possible using modern technologies like ML (machine learning) and AI (artificial intelligence) to improve short- and long-term performance. 

Automotive digitization has also increased the capacity to monitor each component of the supply chain while lowering costs and risks. Digital automaking can offer automotive solutions in terms of better design, time efficiency, and many other industry solutions.

4 Activities that Can Be Digitized by Automakers Now

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1. Manufacturing

Customers desire tailored goods, but they don’t want to pay more than they would for items that are mass-produced. As a result, manufacturing must be more adaptable than ever, leading to mass customization. Thus, the design, fabrication, use and maintenance of products are changing as a result of the digitalization of manufacturing. It is also changing the operations, procedures and energy footprint of supply chains and more. Digital manufacturing enables firms to provide additional options that are tailored to individual customers. Businesses can better understand supply-chain challenges, including inventory levels, delivery status and demand cycles, thanks to digital manufacturing. 

The factories of the future will move from automation to autonomy, strengthening real-time communication between equipment, physical systems, and people. These factories are referred to as smart factories. The most notable advantages of a smart factory are its shop floor connectivity, advanced robotics, flexible automation, augmented and virtual reality systems, and efficient energy management. The general manufacturing sector’s global standards are established by the automotive industry.

Over the past two decades, the automotive sector has expanded tremendously. However, the main elements that will affect whether digitalization is successfully implemented are the significance of realizing a return on investment (RoI) and the willingness of employees at both the top-most and lowest levels of an organization.

2. Supply Chain

By removing the functional barriers that divide different areas, the digitization of the supply chain is a cross-functional process that spans the entire lifecycle of a vehicle or product and involves all company divisions. It allows for an ecosystem that connects all stakeholders, from raw material and component suppliers to logistics companies, dealers and customers.

Utilizing digital technology throughout the entire supply chain allows for real-time monitoring of all supply-chain stages, be it either procurement of raw materials or finished products ready to be delivered or purchased. The evaluation and management of each event’s impacts on the supply chain can help the automation of procedures and the avoidance of potential interruption.

3. Design

Design plays a significant role in the automotive industry. By digitizing design activity, design professionals can test multiple hypotheses before proceeding with the design phase. Digitalization in the designing of products has been enabled by a digital model known as Digital Twins, which represents tangible assets in 3D. Digital twins mirror the complete car or one of its components’ appearance and behavior. With great assistance from sophisticated software, businesses can collect information about configuration, sensors, inspection data, and other details to improve the product’s design.

Automobile manufacturers are among the many industrial firms that recognize digital twins’ possibilities and the potential it has to bring in the best in the business of automobiles. The design and production processes are simplified by 3D representations, improving vehicle performance and cutting costs for the manufacturers. The twin technology is quickly rising to the top of the list of software solutions used in contemporary auto manufacturing, with applications ranging from car design to predictive maintenance to boosting sales using digitally generated models.

4. Marketing

Any marketing strategy aims to tailor the right message to the right set of audiences at the right time. A marketing campaign that appeals to a 45-year-old countryside man might not affect a 23-year-old lady residing in an urban area. Therefore, the impact of marketing combined with the effectiveness of Artificial Intelligence (AI) can be the biggest boon to any business. The automotive industry can enormously benefit in how they market their brand/product by adding the power of artificial intelligence to their current data. It can lead to a strong possibility of purchasing your products early in the sales process, possibly before customers even begin looking for their new car, which is indicated by specific online activities. 

As a result of recent advancements in third-party cookies and mobile advertising identifiers, AI can now assist brands in finding new prospects much more quickly by utilizing data to identify customers with similar characteristics and behaviors. This strategy can potentially increase your prospective customer base and give you an advantage over your competitors. You can identify high-priority targets by identifying the demographic categories that overlap. These solutions don’t require cookies and are more likely to comply with escalating privacy requirements because they rely on behaviors rather than personal data.

The automotive sector has modified its strategy and is now embracing digitization. Digital transformation in the automotive industry still has a lot of gaps to be addressed, but the trend toward digitization is a sign that the stakeholders in the automotive sector will be properly supplied with digital solutions in the coming days. With intelligent technology, and operations across the entire company and all departments, including manufacturing, supply chain, marketing, and sales, digital automaking will help the automotive industry to flourish in this digital era. An increasingly digital supply chain will also dismantle established barriers and greatly enhance communication. Undoubtedly, businesses must adopt a more significant digital transformation to be ready in this competitive automotive industry.

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