The B2B e-commerce is growing rapidly and every year brands reach the epitome of success due to smart marketing tactics, business networking and implementing digital innovations at work. According to a recent report, experts forecasted that the worldwide B2B marketplace will generate a revenue of around 6.7 trillion US$ by 2020.
If you’re also looking to join the cream of this $6.7 trillion pie, you will have to take some important notes. Read on below to find out top tips that some of the most successful B2B brands of 2019 follow to streamline their business:
1. EDUCATING THEIR CUSTOMERS
Almost all of the top B2B brands right now practice the most important strategy – educating their customers. If you don’t provide users with the complete information about your products, they will end up exploring other brands or more likely your competitors.
Many successful businesses have transformed from just user-portals to complete educational websites or mobile apps with product descriptions, promotions and information that provide value to customers. Previously, this info was conveyed through phone calls or one-on-one conversations but since everything is digital nowadays, you need to have everything presented online. Some of the top B2B websites include:
- Specifications about the product
- Purchasing guides
- Size/product/material charts
- Video tutorials
- User guides/How to’s
- User Testimonials and Reviews
2. MIGRATING TO ONLINE CHANNELS
How often do you see customers making phone calls for any queries or purchases? With the trend of offline channels rapidly decreasing, B2B businesses are migrating to online channels giving users an upper hand in this technology world. According to research, 92% of B2B buyers prefer to buy online instead of visiting stores or placing orders on phone. As you implement the digital channels, ensure that your customers are looked after 24/7. You can do that through:
- Friendly User Interface
- Pop-ups for easy navigation
- Customer Representative Support through Emails
3. SOLVING PROBLEMS THROUGH TECHNOLOGY
In comparison to B2C trading, B2B is a little more complicated when it comes to dealing with buyers, shipping orders and tracking their delivery. In most cases, there are higher chances of errors in the fulfilment of orders. In the past couple of years, B2B companies who have been successfully consistent with deliveries and meeting client expectations have solved most of their problems through technology.
Brands are using ERP systems to create a strong e-commerce platform to incorporate better customer services and product deliveries. This helps them keep hold of customer data, their orders, credit limits and balances. Other than ERP, technology also automates a number of other processes.
- Automatic Inventory that alerts customers the amount of stock of each product
- A dashboard with complete information of each customers’ order process
- Options for order tracking
- IoT based sensors in the warehouse to manage new and to-be-shipped products
4. ORGANIZING THEIR BUSINESS STRUCTURE
You can’t just switch to an online platform and expect to work on the same business plan as you did with offline channels. B2B businesses that migrated to digital technology have re-aligned their business strategy and structured it within the organization. They also have reviewed all the employee roles and resources so they go along with the new system.
5. CREATING VALUE WITHIN YOUR SYSTEMS
Despite being switched to digital platforms, B2B brands have managed to give more human-like experience to their customers when making transactions. They have focused on usability and site performance so users feel more comfortable with the interface. Other factors include:
- Quick Search options
- Efficient purchasing mechanism
- Detailed product information
- Business-like Checkout systems
- Responsive designs that let customers take control of the system
- Allow customers to manage everything on their own
Many new businesses who have decided to step into the B2B e-commerce must take notes and inspiration from both B2C and B2B brands that have paved their way to success. Since B2B involves more commitment and longer relationships with business clients, businesses must be prepared to adapt changes, scalability and expansion over time.