Four Ways to Take your B2B eCommerce Website to the Next Level
According to Episerver, 82% of business-to-business (B2B) companies say that their website is an indispensable asset to their partners and salesforce. Additionally, 72% of B2B respondents say that by 2025, the majority of their revenue will be derived from the eCommerce websites they own and operate. In today’s digital age, it’s very likely that B2B companies that don’t currently have an eCommerce website may soon fall behind their competitors that do. Not only should B2Bs be focusing on having an eCommerce presence, but they should also be looking for opportunities to increase their digital agility on said websites.
What is digital agility?
In simple terms, digital agility as it relates to eCommerce means having a website that is not only highly responsive to your customers’ ever-changing needs but also sets higher standards for digital experiences in your industry.
It seems that eCommerce businesses already recognize a need for this. 84% of B2B decision-makers say their top external threat is the increasing digital expectations from their customers or partners. This may seem like a daunting task when you think about all of the changes in processes that would go into transforming your eCommerce website. In fact, 59% of these respondents say the top internal weakness holding B2Bs back from digital agility is legacy, in-house software. However, there are plenty of gradual changes that can be made in order to achieve some of these goals.
How can an eCommerce website become more digitally agile?
Here are some of our best tips and strategies for transforming your B2B eCommerce website:
- 1. Provide more opportunities for self-service.
Does your website currently list pricing? If not, this may be one of the first steps in creating a smoother experience for your customers. 44% of business leaders say this is something that would make it easier to work with a B2B, along with an easy way to schedule calls with a salesperson and general self-service functionality. Easy and functional integrations and one-click reordering are not far behind on this list. Think of it this way: more and more people are looking for the instant gratification of getting what they need, faster. Allowing your customers to be more self-sufficient on your website - helping you increase sales and save time on day-to-day tasks.
- 2. Personalize the experience for your customers.
This is something that many B2B companies will be implementing over the next 12 months. When a website is personalized for them, a whopping 91% of business decision-makers say that B2Bs really care about their experience or are dedicated to providing a better one. Implementing this strategy can be as simple as welcoming the customer by name once they log in. Another option is to customize pricing or show products based on their previous purchase history. It’s true that these things really make the customer feel special and valued.
- 3. Implement a multi-channel ecommerce strategy.
According to a report by Stitch Labs, organizations that sell on multiple channels like Amazon, eBay, and Facebook (in addition to their eCommerce website), generate up to 190% more revenue than organizations who only sell through a single channel. Although a multi-channel strategy may not work for all B2Bs, it’s worth looking into if you want to improve your bottom line. With 55% of product searches starting on Amazon, it is the biggest marketplace search engine in the US. Think about where potential customers go to look for a product that is similar to yours. If the answer is Amazon, eBay, or even social platforms like Facebook, you should look into implementing multi-channel eCommerce for your business. To make things easier and to streamline the customer experience, synchronize your product information and inventory with these channels using an integration that does this automatically (Psst… we can help with this!)
- 4. Ramp up your reporting.
Digital agility is all about staying flexible and making changes to your processes quickly as necessary. In order to know what direction to go, make sure to monitor any changes you make and collect data to help you measure the success of your operations and website. Here are some important metrics to track (if you aren’t tracking these already):
- Ship to promise: This measures how quickly you fulfill and ship the order to the customer as promised.
- Shipping accuracy: This is a measure of the accuracy of shipping and order fulfillment.
- Customer lifetime value (CLV): This is the total monetary value that a customer will bring your business over the course of their lifetime.
- Visit to order time: This is a measurement of the timeframe from when your customer first visits your website to when their order is placed.
Although B2B eCommerce websites and systems can become very complex, there are ways to become more digitally agile and ultimately, more profitable. We have some good news: you don’t have to do it all alone! Podsix specializes in helping eCommerce businesses of all sizes streamline their systems, build powerful integrations, and personalize experiences for their customers. If you have dreams of becoming more digitally agile, contact us today!