Build A Successful B2B Ecommerce Strategy By Employing These 6 Tactics - PowerPoint PPT Presentation

About This Presentation
Title:

Build A Successful B2B Ecommerce Strategy By Employing These 6 Tactics

Description:

Employing these 6 B2B ecommerce strategy will help you attract new customers, keep the customers you have, reducing cost-to-serve, and drive more revenue to your business. – PowerPoint PPT presentation

Number of Views:8
Updated: 9 November 2022
Slides: 8
Provided by: Username withheld or not provided
Category: Other
Tags:

less

Transcript and Presenter's Notes

Title: Build A Successful B2B Ecommerce Strategy By Employing These 6 Tactics


1
Build A Successful B2B Ecommerce Strategy By
Employing These 6 Tactics More Than 2.14
Billion Digital Buyers Have Surfaced In 2021
Almost 900 Million More Than The Previous Year.
This Speaks Volumes About The Trend Of Businesses
Swiftly Turning To Ecommerce As A Viable Means
Of Channel Sales And Finding Success With It.
Even Brick-And-Mortar Businesses Have Realized
That Ecommerce Channels Could Act As A Force
Multiplier To Improve Their Conversions, Increase
Online Sales, And Reduce Operating
Costs. However, Success In The Ecommerce
Industry Is More Than Just A Matter Of Playing
The Numbers Right. It Depends On How Well
Businesses Can React To Their Inherent
Challenges And How Well They Can Differentiate
Themselves From Their Respective
Competitors. To That End, Any Successful
Ecommerce Strategy Will Ensure That The Business
Has The Means To Withstand The Inevitable Threats
Posed By The Rapidly Changing Market From The
Growing Adoption Of Technologies (Like Machine
Learning) To The Rising Concerns Related To Data
Privacy. And To Ensure The Success Of Ecommerce
Strategies, B2b Companies Need To Keep Things In
Perspective. Here Are A Few Pointers That Could
Help Them Do Just That. Keep The Customer
Experience Front And Center B2B eCommerce with
businesses as consumers entails adhering to
top-notch customer experience standards at
various customer touchpoints, such as website
UX, omnichannel, etc.
2
B2B buyers differ from their B2C counterparts as
they explicitly engage with your business on a
transactional basis. And only if all their
queries have been answered to their satisfaction
and theyre right in adjudging your credibility,
theyll preferably move forward with the
deal. So, its essential to invest time and
money in enhancing the customer experience with
high-grade website UX, intuitive landing pages
and processes, clear value propositions that
resonate with organizations pain points, and
highlighted product differentiation to ensure
greater ROI.
  • Recent Research By Southampton Business School
    Reveals That
  • Customer satisfaction is directly proportional to
    consumer spending
  • E-service quality is directly proportional to
    e-satisfaction and e-loyalty
  • Thus, it is advisable that top eCommerce
    companies focus on the little things that could
    make a big difference in how their customers
    perceive their business.

3
Dont Neglect Product Descriptions For B2B
buyers, it is important to select the most
appropriate products with precise
specifications. It is, therefore, essential to
ensure that the eCommerce site has detailed
product descriptions that help the buyers make
more informed and accurate decisions.
At the same time, it is also critical to have a
robust Master Data Management strategy in place
because the same product descriptions can be used
by multiple stakeholders like retailers,
distributors, or even in product brochures.
Having a centralized repository of product data
can help in avoiding multiple versions of
inaccurate information. Invest In SaaS
Tools Benjamin Franklin once said, Time is
money. And lets face it no one can afford to
waste time investing in eCommerce strategies.
Besides, deviation from the recommended route
could prove more costly for the company in the
prolonged run.
4
  • Therefore, it is imperative that B2B sellers
    invest in SaaS tools that can enable them to run
    their eCommerce processes smoothly yet
    effectively. This is accomplished through the
    ability of SaaS tools to
  • Optimize and help ease the complexity of running
    an eCommerce business.
  • Reduce common operational inefficiencies when
    companies try to run their eCommerce processes
    in-house.
  • Scale easily as per market demand and gain access
    to future technologies.
  • Empower teams to increase revenue and reduce
    costs by facilitating better supply channels,
    improving business intelligence, and enabling
    faster decision-making.
  • For example, some of the popular tools like
    BigCommerce can integrate ERP and CRM with a
    single click and empower automation via APIs
    all while maintaining a server uptime of 99.99.
  • Stay Ahead Of The Data Privacy Threat
  • eCommerce companies need to realize that data
    generated through B2B eCommerce is precious
    because it is so much more actionable and
    precise. And, if its not managed well, it can
    prove disastrous for both parties.
  • Sanas 201819 B2B eCommerce report ranks
    security as the 1 obstacle to an effective B2B
    eCommerce strategy. More than 70 of the
    respondents allege that their technological
    infrastructure is highly prone to cyberattacks.
  • Unsurprisingly, B2B buyers are much more
    sensitive about their personal information and
    data privacy issues. It is, therefore essential
    that B2B sellers ensure that they uphold the
    highest standards of data protection. They also
    need to ensure that all relevant information is
    removed when it is no longer needed for the
    purpose(s) for which it was collected.

5
  • However, even when organizations follow the
    recommended data protection standards, they
    still need to be prepared for the unforeseen.
    This is because the market is increasingly
    becoming prone to data breaches and ensuing
    consequences.
  • As such, companies must adhere to these
  • Understand regulatory compliances and prioritize
    consumers across every touchpoint.
  • Keep note of the latest technologies offering
    robust security and necessary safeguards.
  • Build a system that can provide timely alerts to
    mitigate any potential threat to the
    organizations reputation, brand value, etc.
  • Monitor the Marketplace Dynamics and stick to the
    privacy-first approach.
  • Emphasize Mobile eCommerce
  • Mobile eCommerce is in vogue. Data from Googles
    and BCGs analysis showed that more than 50 of
    the B2B search queries were made via mobile. The
    analysis anticipated the number to surpass 70
    in 2020, and rightly so.
  • In fact, the mobile audience has surpassed the
    desktop by leaps and bounds. Keeping this in
    mind, it is crucial for eCommerce sellers to
    facilitate a seamless experience via mobile
    applications.

6
As such, responsive design is a must. This is
because users will have an even greater
opportunity to engage with your business via
mobile devices, especially those on the go. You
could also leverage planning opportunities and
web layouts that are optimized for mobile
devices. Identify the Factors that Define
Success Success within B2B eCommerce isnt
subjective. In fact, it can be realized by
identifying the factors that clearly contribute
to the eCommerce strategy yielding desired
results. Its noteworthy that each of these
factors belongs to a high-level theme that
determines a strategys path. For instance,
Technology is a high-level theme, and factors
like security, scalability, stability,
reliability, etc., are the sub-themes that help
the eCommerce strategy align with technological
needs. Likewise, Marketing is a high-level theme.
Factors like profitability, cost per lead/sale,
churn rate, brand image, pricing, market
position, market segment, etc., are sub-themes
that can make your B2B eCommerce strategy
effectively marketing-centric.
7
In the same vein, business management is a
high-level theme. Factors such as strategic
partnerships, value proposition, supply chain
value creation, etc., are sub-themes that can
determine the business model for your B2B
eCommerce. The point to understand here is that
any eCommerce strategy can benefit from a
holistic perspective of high-level themes and
their associated factors. This perspective is
what drives the notion of success and helps to
ensure that the B2B eCommerce strategy doesnt
fall short of the mark. Conclusion B2B
eCommerce is soaring through the ranks, and its
important to remember that your B2B eCommerce
strategy can only achieve success if a
well-maintained technological infrastructure and
streamlined customer service back it. After all,
the virtual sales environment needs to be as
seamless as possible for buyers and sellers to
conduct transactions accurately and
efficiently. While eCommerce solutions providers
can be of great help, B2B retailers must
understand the need to create a sustainable
business model that will instill trust and
confidence in buyers, help drive customer
loyalty, and improve the odds of achieving
success. Read more on Want to Grow Your
eCommerce Business? Focus on Product Content
Write a Comment
User Comments (0)
About PowerShow.com