B2B buyers are ready to switch to personalised journeys

Payments expert Martha Salinas explores the most effective strategies for navigating uncertainty and declining buyer loyalty

 

Buyer loyalty is eroding. Global marketing and communications agency VML Research reveals that 40% of global buyers have switched suppliers in the past year, with 62% more inclined to switch due to inflation and cost-of-living pressures. Meanwhile, 47% feel less loyal to sellers they previously engaged with in person (a possible after-effect of remote work?).

 

At a recent high-level fintech salon in London that included leaders from a strategy advisory firm, Edgar, Dunn & Company, VML and a number of big brand e-commerce financial services stakeholders, one insight stood out: the line between consumer and commercial payment expectations is vanishing.

 

As the next generation begins to take on purchasing roles, today’s B2B buyers are increasingly digitally native, consumer-influenced and inherently less loyal. They’ve grown up with Amazon, and they increasingly prioritise cost-efficiency and seamless digital experiences.

 

This generational shift, coupled with economic pressure, is driving more frequent supplier switches, making it imperative for B2B sellers to modernise quickly or risk falling behind. The upside, though, is the growing body of evidence that shows that B2B merchants can meet these purchasers where they are. Strong buyer loyalty is still possible—and in times of uncertainty like today, it hinges more than ever on the quality of the payments experience.

Even in stable conditions, payments have a disproportionate impact on buyer loyalty and order value, yet many B2B companies still struggle to meet rising expectations. A study of 300 B2B buyers, conducted by TreviPay, confirms that the payment experience plays a major role in shaping the overall buyer-seller relationship. And trust emerged as the top factor in buyer satisfaction, cited by 90% of respondents.

 

At the London salon, panellists highlighted the rise of “experience loyalty,” the idea that trust, reliability, and flexibility, especially around payments, drive long-term retention. Businesses that offer seamless, personalised payment experiences aren’t only meeting expectations; they’re gaining a competitive edge and growing share of customer buying power.

 

Ronny Wittig, Partner at Bain & Company, noted that no less than a third of his clients face liquidity challenges, and half still rely on manual processes. His warning is that “one-size-fits-all” payments won’t cut it. SMBs want cost-effective financing options, for example, while enterprises need automation, digitisation, and regional liquidity management.

 

B2B buyers expect the same convenience they experience in B2C transactions. Consumer-grade innovations like intuitive design, mobile-first access and AI-driven automation are the baselines for both B2C and B2B/commercial transactions.

 

According to our customers, convenience starts at onboarding. Flexible payment options are no longer a nice-to-have: 78% of B2B buyers in research we carried out say invoicing is essential, and over half would switch suppliers for more flexible net terms.

 

The message is clear: ease, speed, and adaptability define the modern B2B experience. System integration is a major factor in getting there. 80% of buyers say it’s “very” or “extremely important” that suppliers integrate seamlessly with their ERP platforms. As one analyst stated at the event, “A major barrier to B2B payments adoption is the lack of system integration.” And another panellist added that many global firms, especially in the wake of M&A activity, have to juggle multiple ERP platforms. Effective integration is now not only helpful but mission-critical.

 

Jordan Cox, Principal Consultant at VML, underscored the importance of maintaining balance. While digitising the B2B customer journey—from pre-purchase through to post-purchase—is undeniably critical, the human element remains vital. “There’s still a strong need for personal interaction in B2B,” he noted, “and that’s not going away.”

 

B2B payments stakeholders agree that the future lies in blending digital convenience with traditional relationship-building, which is best delivered through flexible, omnichannel solutions that accommodate diverse purchasing preferences and journey types.

 

Customers should work with you the way they want to

Today’s B2B buyers expect not only control but also to do things their way; our research shows that three-quarters want the ability to extensively customise their purchasing experience. As Ronny Wittig of Bain & Company noted at our event, concerns such as cross-border costs, fraud risk, and manual processes are widespread, making flexible, intelligent invoicing a baseline expectation.

 

That includes capturing PO or serial numbers, setting spending limits, and managing pre-approved SKUs, he added. Panellists also emphasised the need to tailor payment solutions by industry.

 

The takeaway is that, going forward, customisation isn’t only a differentiator but table stakes for essential adoption and long-term value. As loyalty wanes under generational shifts and economic strain, sellers must do all they can to understand what each buyer truly values.

 

Another important lesson is that real differentiation comes not just from technology, but from a laser focus on the core priorities of convenience, personalisation, flexibility, and sustaining of experience-based, long-term customer loyalty.

 

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Martha Salinas is CCO of payments platform leader TreviPay

 

Main image courtesy of iStockPhoto.com and Pakin Jarerndee