On behalf of TreviPay, Windward Strategy, a B2B payments consultancy surveyed North American mid-market B2B suppliers. This survey aimed to uncover trends in B2B buyer purchase channels, credit granting and payment experiences. From our survey findings and insights corroborated by prominent entities in the B2B sector, we’ve distilled three actionable strategies to enhance your B2B buyers’ experience.
By offering these features, you’ll be a step ahead of your competitors by increasing efficiency for customers.
Establish Transparent Credit Approvals
As many as one-third of B2B suppliers’ decision-makers surveyed aren’t sure what percentage of their prospective B2B customers are currently being approved for credit and thereby able to make purchases on terms. This uncertainty can lead to confusion and potential lost sales particularly when most B2B suppliers would like at least half, if not three-quarters of their prospects/customers to be approved for credit.
Understanding and adapting to evolving buyer preferences is important in B2B transactions. Our survey highlights the critical need for flexible payment solutions, streamlined online purchasing experiences and transparent credit approvals. These actionable insights underscore the importance of embracing diverse payment methods, enhancing digital pathways and fostering clarity in credit processes.
TreviPay’s innovative B2B payments network stands ready to empower enterprises, offering varied choices, market expansion and efficient receivables automation. By implementing these strategies, businesses can optimize the B2B buyer journey and thrive in an ever-evolving market.