Top 6 Ecommerce Strategies for B2B Businesses
The emerging e-commerce solutions have improved the B2B Commerce strategy largely. With more traders, buying the products from online marketing platforms, it has provided much hype to the e-commerce selling. The Forrester survey states that the B2B market will be twice the B2C market by the year 2020 with an estimated revenue of 1 trillion US Dollars.
The B2B Commerce strategy involves the following scenarios.
- The sales are made to various decision makers with varying needs for their companies. So, the suppliers have to abide by buyers’ specifications.
- The product needs to be customized according to the requirements of different business customers.
- Understanding the budgetary requirements of the business houses is foremost important. Moreover, the inclusion of the necessary information will entice the buyers towards the product.
Six enhanced priorities of B2B e-Commerce strategy
The marketers must get their websites designed on great open-source platforms like Magento to provide a seamless experience to the business buyers. The organizations can contact the professionals from the Magento development company for designing optimized sites. Here is an insight into the priorities required in B2B e-commerce strategies.
1. Create valuable content with greater ROI
The attracted content has more user-engagement rather than a lengthy and boring content. The B2B Marketers understands this scenario and are generating crisp and productive descriptions or blogs. Nearly, 90% of the B2B marketers believe that the content must be consumer-oriented that will generate more traffic on their web page. Even the site should be easily navigable and designed on platforms like Magento for good outreach.
For this, the marketers must take the experienced Magento development services from top service providers. The B2B marketers must follow the strategy of developing quality and well-written content as it will prove the greatest harbinger for improving the business profits manifold and increasing the ROI.
2. Build a stronger brand name
More than 39% of the sales are driven based on the popular brands according to the reports cited by the market reports. Most of the business buyers seek for the quality products from the branded stores or industries that can sell them the product within their budgets. Even the credibility can be checked through the customer reviews on the B2B marketer website.
Moreover, an amazingly designed website also plays a key role in attracting the buyers. One can take the Magento development services from the reputed company. With an established brand, the trust upon the buyers will get strong and marketers will gain stability on the market. As branding is an important factor in an E-commerce strategy, so B2B marketers have now turned towards it.
3. Flawless mobile experience for the buyers
The B2B Marketers have also made mobile marketing as their top priority because a survey revealed that 80% of the B2B marketers would be spending more on the E-commerce operations in 2018. The sales representatives can instantly connect with the mobile consumers rather than the buyers through long E-Mail processes or detailing. The mobile strategy is made a priority because:
- To ensure hassle-free mobile user experience to the customers the B2B marketers must possess the agile and workable website for Smartphones, iPhones, and Tablets. The marketers can take the services from the software-development company for designing productive sites.
- Provide first-hand user experience to check the order status or for placing the order with the B2B Marketers or producers.
- Get a mobile app for your business where business buyers can instantly get in touch with sales representatives and ask about the particular products and its features.
- Show the leveraging upsell options to the buyers who have done purchases in the past for the particular products and helping them with the new product offers.
4. Support the automation process
The fast-changing market makes the B2B marketers adopt the automated and integrated model to process the customer order in a fast manner. If your B2B market is still dependent upon the manual processes than it’s the high-time when a change is necessary. The automation process will also help in curbing the unnecessary operational cost, using the online solution providers for easing out the complex structure, and much more.
Even the product information and availability of inventory in the warehouses must be integrated in the real-time. This will help the staff to keep abreast with the available products and to place orders for particular products. If the customers enjoy great buying experience, then automatically sales will get a boost.
5. Carry out better interactions with the buyers/customers
The B2B marketers are now concentrating upon the “interaction” process on the product market. Here the dealers can choose to deal with the marketers who sell the products according to their industrial needs. The use of newer technology will help in improving the sales process that will ultimately help to the growth of the B2B marketers.
Even the healthy interactions with the buyers can boost the winning rate by nearly 40% in the market. The survey carried out in the B2B markets states that the consumer experience is much more important than the product features and price of the product. As business buying is entirely different from B2C buying, so the marketers need to sell those products that deem essential for the buyer’s industry.
6. Build up basics for stronger sales
The B2B Marketers must work upon the business basics before going deep into the marketing strategies. The only workable basic is to make your products recognizable to the buyers so that they can know about the significant features of your products. For this, the digital presence for reaching out on the global platform is paramount.
The buyer-centric product catalogue will help you to reach out to the business buyers fast. The marketers must concentrate on the pointers that will help to make the customer selling experience instant, convenient, personalized, and in the way, the E-commerce giants like Amazon, eBay, etc. make the selling of their products.
To sum up, the B2B market has undergone a huge change in the recent past, and marketers are following the automated and digital platforms to reach out to the business consumers. The B2B marketers that develop and follow the right e-commerce strategy will surely make a path to their success in the business market and earn a greater return on their investments.
Harshal Shah has a countless experience as being a CEO of Elsner Technologies Pvt. Ltd. Magento Development Company that offers various web development services to the clients across the globe. Mr Harshal is a huge tech enthusiastic person who has written major & genuine articles as well as blogs on motley topics relevant to various CMS platforms. This can guide the readers to acknowledge new practices about web development and also they can learn new ideas to build & optimize a website online using multiple web development tools & techniques.
5 Basic Tips and Tricks for Online Shipping
Ever stuck in a dilemma of what if the shipment ordered online does not reach the users at the stipulated time? Imagine if an irate customer has been following up with regards to his shipment that you missed or delayed. That’s indeed an unpleasant thought, isn’t it?
There may be others contemplating similar fears. Some of your customers will complete their delivery details on the internet and not think about it again until it arrives. But many want to be aware of where their order is throughout the shipping process. This is where a proficient shipping and delivery process comes into the picture.
All About Shipping
Literally speaking, when we physically move the goods from one place to another, we can call it shipping. The goods are generally stored in a warehouse from where they are collected and delivered to the respective clients. There are various forms of shipping like ground shipping, air shipping, shipping done by sea, etc.
Out of all these, we can consider ground shipping to be the cheapest with air shipping being the most expensive mode of shipping. Shipping by the sea is the most cost-effective way to deliver the goods. However, it is slow and takes longer to deliver. Shipping costs depend on the number of deliverables too. The larger the number of goods to be delivered, the cheaper it is!
If you have an online ecommerce store that is devoid of suitable shipping option, the customers visiting your website will turn their backs on you. To avoid this scenario, you can provide the customers with lucrative options like the Australia post shipping extension in Magento. Moreover, there are several other add-ons and extensions for expanding the default shipping options for your ecommerce website which can assist you in this regard.
In today’s post, I will introduce you to some basic shipping tips and tricks for your store. Continue reading to find out more. Now, we are already well versed with what shipping is as well the different modes of shipping. Moving ahead, let us consider giving a thought on some tips and tricks for shipping.
Basic Shipping Tips and Tricks
1. Shipment Tracking
Once any customer places an order on the website, he is anxious and eager to receive his order as early as possible. To ensure him speedy delivery, you can facilitate the shipment tracking option to them. This can be possible if we purchase any shipment tracking extension. There are various extensions available in the market, with Australia post shipping extension leading the league. This will help the customer to track the delivery details.
Include this tool with your ecommerce store and offer multiple shipping options. You can also provide different delivery methods, set shipping handling charges, offer shipment tracking etc. Retailers can now make a hassle-free delivery to domestic as well as global destinations. This will, in turn, bring a smile to the face of the customers.
2. Multi Locale Shipment
This is mostly the case during vacations and holidays when the customer is not available to home. Providing this facility will attract many customers to your website enhancing the customer’s shopping experience. To ensure this facility, you need to purchase any shipping address extension which will allow the customers to split the delivery address for the purchased products. You can enable the extension by setting up the handling fee and warehouse postcode. In addition, the admin is in charge to check if a signature is required after delivery.
3. Pickup from Local Warehouse
Another option that a customer can avail on your ecommerce would be to pick up his product delivery from a nearby local warehouse. What happens in this method is simple! The customer will pick up the product from your warehouse. How will this be beneficial to you, you think? You save your time and efforts to ship the product. The customer can go and collect the product from the warehouse if he wishes to get the delivery quickly.
To add a cherry on the cake, you can also provide discounts on the items that the customer collects from the local warehouse.
4. Weight and Dimensions of a Product
Have you ever given this a thought as to how is a product priced before we ship it? Let me tell you. Before you think about determining the cost of shipping on a product purchased, the actual weight along with the dimensional weight of the package will be the main factors. What is the difference between the actual weight and the dimensional weight you may ask.
Actual weight is that weight which we consider to be the overall weight of the packaged product. Dimensional weight is in short, the density of the box. You can find the dimensional weight of your box by multiplying the length by the width by the height, then dividing that by 166 for domestic packages. The end price that we consider as a shipping price will either be the actual weight or dimensional weight – whichever is greater.
5. Get the Shipping Address Verified
Heading out for delivery in any season is tiring. To top it up, imagine you have reached the location of delivery and come to know that the address is invalid. It is frustrating as well as annoying. More so, you not only have to take the product back to the warehouse undelivered but resend it to the right address.
To avoid this situation, you may give the customer the option of an address validator. Address validator does not accept any invalid address entered by you. This helps to avoid the hassle of delivering the product to the wrong location. This will also allow you to ensure timely delivery for your customers.
There are various shipping options available in the market to opt for if your ecommerce business is based anywhere in the world. By integrating different extensions and plugins, you can save much on your time and efforts. There is no need to go to the site time and again to set up delivery for each of the shipments. I hope this article will help you understand shipping well and utilise the tips and tricks efficiently.
10 Tips to Skyrocket Ecommerce Conversions on Your Site
Owning an online e-commerce store in such a competitive world of e-commerce is a difficult task. Marketing in e-commerce industry means a lot of competition ahead. It is an obvious thing that you might not be willing to compete with the e-commerce giants like Amazon or Alibaba.
Your competitors may include various other niche e-commerce stores that sell products similar to your store. Having an out of the box marketing strategy is something majorly required to stand out of the competition.
Let us first discuss what e-commerce marketing and e-commerce marketing strategy?
The process of attracting prospective customers to your e-commerce store is something that can be said as an extraordinary e-commerce marketing. The strategies used for the same purpose are known as e-commerce marketing strategy. The steps that are being implemented to convert your customers and drive sales to your e-commerce market are the major part of e-commerce marketing strategy.
Below article will bring you certain tips to let you skyrocket your e-commerce site conversions. Read out the entire one today!
Create a Clear Proposition
When a buyer visits your website, it should not be difficult for him to find the product he is looking for. Especially in the e-commerce store, you can manage to have clear text with various colourful images. There shouldn’t be any difficulty in finding what you are selling.
A website with highly integrated images can help the customer find out whatever he is looking for. Your selling point must be clearly defined by the design of the online store. From the home page itself, create a clear proposition regarding your business goals.
Less Text, More Graphics
Graphics play a very important role in attracting the visitors and hence converting them into customers. Especially, in an eCommerce website, when customers solely depend on the way the products appear. The images play a vital role in the decision making of the customers. Therefore, more prominent the pictures, higher the store become enticing for your customers resulting in the sales growth of the store.
Whenever your store gets a visitor for the first time, the visitor may rely on the reviews or the testimonials of the customers. Make use of testimonials to gain new customers and make them permanent ones. It also helps you create the reputation of your brand in the minds of the target audience.
Email Marketing will surely help
Email marketing may sound like a traditional form of marketing, but it is one of the best forms of digital marketing. The leads received through email marketing are most of the time strong ones. There are a huge variety of automated tools available for email marketing and the tracking process of the campaigns. Automating the email marketing campaign gets your marketing task done up to 50%. You can also add thank-you pages and automate social media posts to effortlessly create the mailing campaign.
Minimize Design Friction Points
Too many designs or too many texts, never mix up anything. A proper amount of information must be added in a proper format to make the website look decent and user-friendly. Design friction point is something that makes the visitor confused and can increase the bounce rate on your online store.
Too much useless text or hard to read text can keep the visitor from signing up on your store. Even when the website contains too many calls to actions, the visitor may get irritated to act and leave the online store early.
Create Engagement with Promos
Shopping is something that becomes exciting when there is some discount. When owning an e-commerce website, you must try to catch their attention by offering some of the other kind of promo code along with the discount.
There are various ways through which you can offer discounts to the customer without disturbing your profit growth. Make use of exclusive promotional offers and offer free shipping on overstocked items. It can create an incentive for your customers.
Make the Navigation Easy
At the time of shopping, people like to look for all the options available. And when this search process is easier, the e-commerce store becomes easy to navigate. Easy navigation leads to more engagement time of the visitors. For better sales, an e-commerce store owner must make sure that the site is easy to navigate. Every page and its sections should be clear so that the visitors can know what they can get on the online store.
One of the most important tips is to keep the major navigating elements in one place. When kept all together, it becomes quick to find.
Avoid Slow Loading Pages
Slow landing pages are the biggest hurdles in converting your visitors into customers. So always avoid slow landing pages on your e-commerce store. Visitors will quickly move away from your site if the pages load very slowly.
In this competitive world, getting the traffic reduced because of the slow speed can be the worst experience.
Offer Unique Product Descriptions
Product descriptions should be exclusively unique to get your customer to stay on your website. The quickest way to get the sale done is to offer bland and clear descriptions of the products in your online store.
The way you describe your product majorly represents your entire collection. Henceforth, it is necessary to have unique and engaging product descriptions.
Implement a Loyalty Program
Once you begin getting customers, implement loyalty program on your store and let your customers coming back to the store. The remarketing category will make a huge impact on those data received from the loyalty program.
Mitul Patel, CEO, and Founder of ProtonBits, a Top Rated Software Development Company. He is a tech evangelist with a reputation to provide optimum solutions for business automation and solving real-life problems with the power of software solutions.
Top 5 Ecommerce Pricing Strategies
Ecommerce businesses are lagging behind from a price point aspect, a mammoth one at that, and seeing other online businesses and even physical stores take the lead.
Online purchases are all the rage, but you are failing for some reason and traditional stores are beating you to the punch. This blast from the past does not just come in waves, it seems.
All 61% of it as reflected in the PWC findings.
However, there are constructive and grounded pricing strategies out there which can help boost your ecommerce business.
Such as this:
It’s all good with visual aid but:
We need to make sense out of it. Keep reading to find out more about the top 5 pricing strategies for your ecommerce business.
1. Cost Based
The method here remains simple and straightforward. You assign a cost to the product which incorporates a profit margin. This technique is by no means simplistic yet it is not guaranteed to generate success.
Why? Because you left out market and customer research which we will get to shortly. Nonetheless, this strategy continues to be the most popular.
Let’s see why:
The electronics ecommerce business you are running mostly applies:
The Cost + profit route
It has served you well, perhaps not well enough because you are unaware or it failed on a recurring basis.
Exhibit A: Motorola Cliq 2 phone
Your phone here costs, with supplier and shipping combined, at around, hypothetically, $358. Alright now, there is some profit to be made here and hence you tag $100 as part of your profit margin.
And that’s all there is to it. Quick and easy profit.
Good enough? This feels like a sure-fire way to making it big.
The future implications and risk of becoming obsolete in the business in the face of your own business strategy’s shortcomings and competitors’ presence…
…leave you exposed and vulnerable.
2. Market Based
You have thus far managed to keep this locomotive vehicle of internet domination moving forward.
The online market is filled with 1.61 billion consumer goods customers. While nobody is expecting you to cater to all of them, you should, however, tailor your niche for the market.
With the use of price tracking software such as Prisync you can figure out where you stand on the totem pole. With the data available you can figure out where your prices stand, from the premium to the more cheaper end of the stick.
Expect to make changes to your cost and margins to remain afloat and begin charging ahead. Whether you increase or lower your prices, the end result should always attract more paying customers, market competitiveness and solid CRs throughout.
We will look into the camera body products #1 and #4. Here, #1 is understandably the most eye-catching due to its comparatively affordable price. But how long can it expect to survive in the business when it’s bleeding dry?
Retailer #4 sells the body at a pretty hefty price at $1944. With some logical alterations, retailer #1 can just raise the price to $1865. This way the margin sees an uptick and the business becomes noticeably hungry & competitive.
3. Consumer Based
Understand the values you, your customers and the niche hold dear to your heart. Address the USP and run your business accordingly.
The buyers for a 2017 Audi S3 Sportback and 2016 Honda Civic Type R are different, yes?
Applying the tools mentioned above and with some knowledge of the conditions you can cater to the deal hunter base of your customers by putting up offers, discounts and competitive prices for the Civic Type R.
On the other hand, the value based groups out there seeking luxury items such as the Audi S3 will not be fazed by competitive prices. They are here to buy, anyway. Therefore, do not highlight the offers, discounts and ultimately pricing as key parts of the value proposition.
Regardless of the niche, the discipline remains the same.
4. Dynamic Pricing Based
This one here is not an extension of what was discussed prior but something which needs its own entry in this article. We talked about pricing tools earlier. It only works best when all avenues are functioning.
Simply getting data about competitor prices will not bring about the results you seek.
You can definitely change prices to remain competitive, but it only works when your consumer research, cost based data, profit margin target and market studies are all feeding off of one another to then set a competitive price based on existing competition.
Once again, the all-encompassing rules and guidelines for streamlined repricing can be carried out by tools such as Prisync.
5. Psychology Based
Time to bring some science into it. Forbes’ Roger Dooley explains how Neuroscience advances ecommerce revenue.
Do not be alarmed for this merely touches upon some easy tweaks and changes and…
Your ecommerce site has struck gold!
- 9s have proven to be far more attractive than 0s.
A $12.99 brooch can definitely sell more at your site than your competition’s $13.00 price tag
- Syllables are king. The fewer they are the more they sell. Pronunciation and the time it takes affect your revenue.
Be sure to have more of $43.10s than $43.67s.
Forty-three-ten beats forty-three-sixty-seven on any given day.
- Size matters! Font size could be like:
Gravity pulling you into your ecommerce grave or
Rocket boosters propelling you upwards to ecommerce heaven.
Studies have shown products with price tags with a smaller font size sell more than those with a bigger font size.
Who knew there would be so much to just setting a price, right?
You know your niche and think that’s enough? No.
The consumer data is on your desk and you wish to move ahead with confidence? Not good enough.
Okay, but the market research has come out, pricing tools are favorable and the competition looks like it might as well be easy pickings. Can you go for the kill? Too soon.
Alright, the consumer psychology data has been worked into all that in the most dynamic of ways. How about now?
The truth is, these 5 tips working closely and in collaboration are the essential tools to boost your ecommerce revenue simply from a price point.
Several other aspects of the internet business should be focused on, of course. None can function to the premium state unless you engage actively – in all departments.
Total involvement, awareness and a thirst for optimization can take you there.