Title: Build A Successful B2B Ecommerce Strategy By Employing These 6 Tactics
1Build 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.
2B2B 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.
3Dont 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.
6As 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.
7In 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