If you go with the first option, then this post would help you in building strategies for B2B e-commerce marketing. And if you are preferring the second option, you can update your strategic approach towards B2B e-commerce through this post.
But what do these decisions convey?
Do you want your strategies to bring revolutionary changes in B2B e-commerce marketing?
If yes, then the only way for such change is to make decisions that align with the present trends.
B2B e-commerce is growing extensively and most businesses are opting for a change. However, to implement the strategies, you first need to understand what B2B e-commerce is! Keep reading to find out more.
Do you want to know the latest B2B Marketing trends?
WHAT IS B2B e-COMMERCE?
STATUS OF B2B e-COMMERCE MARKETING
In e-commerce, you cannot afford to wait for your customers to come to you.
e-commerce is all about knowing where your customers go and drag them back to your store.
Hence the lesser you stay social, the more the chances that you will miss out on your potential customers.
B2B sellers are working round the clock to build an exquisite customer experience in B2B e-commerce sites.
B2C e-commerce business had more time to learn and develop but unfortunately, B2B companies have no such luxury. They are bound by time and are forced to adapt themselves in this digital marketing arena. It’s a fight or flight situation for them. Presently, the online experience that B2B sellers provide does not meet their customer needs.
B2B e-COMMERCE: MILLENNIALS VS. GEN X
The Star Trek series was a big hit among the modern generation. It offered an entirely different experience from the star treks series that was released in 1966. Star trek has taught a huge lesson for B2B e-commerce marketers. Evolving with the fast-moving world and trying to match its pace is what can bring in a change in the B2B marketing arena. Catering to the needs of modern generation B2B buyers will surely help to ensure success for your B2B e-commerce campaigns.
The approach for Gen X buyers is completely different from the one for the millennials. The customers from these two generations differ widely. While Gen X looked for personalized experience from their sales representatives, millennials opt for personalization through digital and streamlined channels.
Millennials are moving towards an e-commerce era in the B2B arena. B2B has started to experience the e-commerce boom and this is the right time for you to enhance your brand visibility.
B2B e-commerce marketing has started to find its shape today. Experts state that implementing the right strategies can revolutionize your B2B e-commerce marketing.
TOP 10 STRATEGIES TO REVOLUTIONIZE B2B e-COMMERCE MARKETING
Industries that transformed and achieved success chose the right game plan. Here are the top ten strategies that suit the requirements of the digital future
Strategy #1: MOBILE B2B e-COMMERCE
Customers today have moved to a more compatible and comfortable option like a mobile phone for conduction of business. Rather than focusing on the size or layout of the page, B2B marketers must ensure a customer-friendly mobile journey. Because a happy customer drives more revenues.
Here are a few tips for creating a customer-friendly B2B e-commerce mobile experience.
- One-click checkout
- Option to save earlier purchase information
- Saved shopping carts for future purchases
- Providing native apps and Progressive web Apps
- Easy re-ordering option to repeat the past purchases conveniently
Strategy#2: Provide a personalized experience
Personalization is the core of B2B e-commerce marketing. A firm must and should provide a personalized experience to its customers in order to expand its business prospects. Offline sales experience provides B2B sellers with the ins and outs of their customers. The B2B sellers thoroughly know their customers’ preferences, order history and their business needs. Hence the task of building a personalized web experience is easy for the B2B sellers.
Crucial tips for building a personalized B2B e-commerce experience are:
- Integrate your site with ERP or CRM to display the pricing terms for customers
- Build personalized dashboard of your existing customers to know their purchase patterns
- Integrate the e-commerce sites with sales teams and CRM systems. It creates alert to salespersons and CRM executives when customers add products to their cart.
- Update relevant and timely content with A/B testing
STRATEGY#3: ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING
AI and machine learning reduces costs, increases revenue and improves customer experience. AI can be used to identify revenue leakage and to understand the pattern of price recommendations.
Using Machine learning for e-commerce helps you obtain better conversions and search functionality.
Benefits of optimizing machine learning for e-commerce
- Helps AI to suggest better search terms
- Understands customer service requests from even wrongly phrased questions
- Forecasts orders based on browsing behaviors and order history
How will AI impact and transform marketing?
Strategy#4: Building engagement, presence and experience with channels
Multi-channel, Cross-channel and Omni-channel marketing are essential for building your e-commerce campaigns. Marketing campaigns can be conducted via various communication channels like: web, mobile and face-to-face interaction.
In multi-channel marketing, users adopt various channels to purchase and communicate with an organization. However, these channels are disconnected.
Cross-channel marketing is similar to multi-channel marketing. But in cross channel marketing, various communication channels are linked with each other.
In Omni-channel marketing, multiple channels communicate and work seamlessly towards delivering a complete customer experience.
How channel marketing helps you in B2B e-commerce?
- Multi-channel presence lets you alert customers about your latest deals
- Cross-channel engagements help you continue conversations across various channels. Thereby helping you to build customer loyalty.
- Omni-channel marketing provides superior customer experience at both online and offline touch points
Build a better customer relationship by adopting these ten ways
Strategy#5: Embrace video marketing
Reaching out to potential customers through engaging product videos help you to strike the right chord with them. Videos can be based on various themes like brand stories, product videos, FAQs or testimonials.
Ensure that your videos are interactive and engaging. They are extremely essential for buyer education.
STRATEGY#6: CHATBOTS, AR AND VR
Chatbots are replacing humans on the other side of the conversation with customers. They identify and respond to customer needs.
Chatbots can upsell and cross-sell products. They can even store buyer behavior and respond accordingly.
How would AR revolutionize B2B e-commerce?
- AR helps B2B sellers to create an immersive in-store B2B digital buying experience. Virtual demo on usage and benefits of B2B products or services helps customers to visualize the outcome.
- When AR is backed with data analytics, it offers crucial insights into how your offerings would benefit the customer
- AR helps you showcase your brand value. Engaging virtual experience helps prospects to decide on your B2B service offerings.
Strategy#7: Enhanced payment methods
When payment gateways are smoother, the rate of customer engagement is higher. Providing multiple payment methods can improve your revenues.
There are numerous payment methods like credit cards, debit cards, digital wallets, internet banking and much more. These options allow buyers to purchase products and services in their preferred mode of payment. Quick payment methods shoot up your conversion rates.
Find out the rules to follow while you purchase your B2B contact lists
Strategy#8: Advanced product search
Advanced Product Search is an essential element in e-commerce. If your users don’t find what they want, they will exit. The advanced search methodology provides results based on your previous explorations.
Voice-search is a growing trend in digital arena. It is important for organizations to optimize keywords and make it more conversational. Businesses dealing with e-commerce can also integrate image search in their mobile apps and websites to improve customer engagement.
Strategy#9: Quick delivery options
Purchase and delivery options have evolved over the years. B2C e-commerce companies like Amazon are offering next day shipping option to their customers. B2B e-commerce companies can also follow the same path. They can strive to deliver their services within an hour. However, this is possible only when B2B e-commerce begins to unfold its advancements.
In the near future, B2B e-commerce businesses would compete heavily to fulfill the challenge of delivering the services within a stipulated time.
STRATEGY#10: INTRODUCING PROGRESSIVE WEB APPS
While users preferred making online purchases earlier, now they are more inclined towards the mobile Apps.
B2B e-commerce unifies cross-channel purchasing in one flow, through a simple app. It would also transform your business strategy and help in elimination of siloed approaches.
How to choose database technology for your mobile apps
Implementing these ten strategies would revolutionize your B2B e-commerce marketing, on a long run. But an essential rule that has to be followed even before that, is to adopt a reliable and responsive data to boost your marketing efforts. Data of your existing customers may or may not drive your business expansion. But, a top-notch B2B marketing data can surely help you reach your targeted customers instantly.
Get valuable customer insights from DataCaptive and carry out your B2B e-commerce marketing campaigns successfully.
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