How 3M is Using a B2B Marketplace to Power Digital Transformation
Over the last decade, new customer experience innovations have changed the game for B2C retailers. Shoppers now expect wide product assortments, fast shipping, and a smooth user experience from their favorite online retailers.
But while B2C businesses have stepped confidently into the 21st century, B2B retailers have lagged behind. From the hours of 9:00 a.m. to 5:00 p.m., corporate buyers are stuck making purchases using clunky, outdated websites. Once they clock out, they’re treated to modern, customer-friendly shopping experiences from their favorite consumer brands.
It’s no surprise that some B2B retailers are recognizing the opportunity for innovation and working to catch up to their B2C counterparts. 3M, one of the world’s largest and most established B2B retailers, chose the Mirakl Marketplace Platform to drive a major overhaul in their B2B eCommerce strategy.
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3 Wins for 3M: B2B eCommerce That Works for Buyers, Distributors and the Business
Paul Shaw drove the launch of 3M’s B2B marketplace and continues to oversee its successful performance. At the 2023 Platform Pioneer Summit, he sat down with Mirakl’s Marc Teulières to share how 3M’s buyers, distributors and business are all benefitting.
1. Win for 3M Buyers
Before the 3M marketplace, buyers had to navigate a complicated maze to find 3M products.
“We had a lot of traffic to the website, but we were delivering a suboptimal experience,” said Shaw. “We had a ‘Where to Buy’ button for each product, but the customer would have to go through around 20 clicks to find out where they could buy a product. With Mirakl, those 20 clicks have gone down to one.”
The B2B marketplace has also empowered 3M to use data to improve their customer experience.
“We can now learn more about what the customer wants, and there’s so much power in gathering that data together. Our goal was to try to make sure we brought the market to the customer, instead of them having to do all the effort to just find the right information.”
2. Win for 3M Distributors
A rising tide lifts all boats, and 3M’s digital transformation has immediate benefits for its network of partners and distributors.
“Our partners get an elevated relationship with 3M,” said Shaw. “They get the umbrella of being able to be ineCommerce, but with the support of a vendor like 3M. The end user gets the optimized experience they’ve been aiming for, and the result is a significant boost in revenues not just for 3M, but for the distributors as well. Compared to performance when our website simply had the ‘Where to Buy’ button, our seller partners have now seen a 6X revenue increase.”
3. Win for 3M’s Business
The B2B marketplace model doesn’t just provide 3M with a new revenue stream and customer data. It gives 3M the opportunity to dramatically expand its brand influence.
“Nobody can represent your brand the way that you can,” said Shaw. “We love being able to be out there, talking consistently in the language we want to use, but also having our channel partners in there supporting with inventory, availability, and shipping capabilities. It’s a really good way to deliver everything we want to share with the customer in one place and very quickly.”
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An Ideal Partnership for B2B eCommerce Growth
For B2B leaders like 3M, Mirakl has proven to be an ideal partner for launching a marketplace and expanding a B2B eCommerce strategy.
“Mirakl is a great company to work with. Having somebody alongside you on that journey, giving advice and showing where the next steps are — that’s been very powerful.”
