By definition, B2B E-commerce marketing is the process of businesses trading with others entities online. Mostly, this practice involves bulk orders moving from manufacturing companies to wholesalers. Though the businesses that buy the products are called customers, they are not the end-user of the products. Basically, B2B Ecommerce is any purchase that happens over the internet between two companies.
Why You Need to Invest in B2B E-Commerce for Your Business
B2B E-commerce marketing avails a huge market for your business, both present and in the future. Though B2B Ecommerce started a few decades ago, the industry has recently grown exponentially with this growth expected to continue indefinitely. Below are important statistics on B2B E-commerce marketing that can give you a hint on how the industry is changing rapidly:
In 2020 the market size for B2B E-commerce was $6.64 trillion. Almost 71% of B2B buyers said that they prefer remote purchases on Ecommerce and are willing to pay extra because of its convenience. According to findings by Gordini and Veglio, another 75% of B2B buyers preferred digital services over personal engagement. Among young buyers comprising of 60% of B2B purchase, says that as long as the E-commerce remain to be mobile irresponsive, they will leave to buy.
Do you have a goal to grow your B2B market even with the rising competition? If yes, then you can’t assume the power of E-commerce on your B2B practices. This is because it poses a large market with a big growth potential especially with many people spending a better part of their time online. E-commerce can therefore help your B2B to remain to be relevant and thus compete effectively. This article discusses tips that can help your business in B2B E-Commerce Marketing.
5 B2B E-Commerce Marketing Tips for your Business:
Anticipate changes in Technology that Affect Sales and Communication
As more people work online in business, they may be concerned about the failure of communication and sales. This may result from the depreciation of communication programs like Slack which are used by many businesses to maintain communication. This implies that there can’t be a business with no means of communication. With time, technologies that are in use become obsolete. You should be able to foresee these and advise the customers accordingly. If your business is in a position to offer an alternative solution as a means of communication to retain the businesses in operation, then you are likely to win big.
Design a Convenient Website
Most online users are not familiar with programming languages and therefore they prefer websites that are user-friendly for easy navigation. Among the features to ensure while designing a user-friendly website is its accessibility on multiple devices. This ensures that your business can reach more buyers rather than those using laptops or desktops only.
Frequently troubleshoot the navigation process to ensure that customers can come through and potentially convert. Don’t forget to account for all the customers on your website, including those with disabilities. Incorporating graphics and images in your website makes it to be more attractive. Also check that the color and fonts of your website are appealing for your visitors.
Use Multiple Purchase Options
Different customers prefer and use specific payment methods. When you incorporate many of these options (PayPal, Apple Pay, etc.) in your B2B E-commerce it makes it easy for many customers to complete a transaction by themselves. It helps build loyalty because they feel that their needs are well catered for in your business. Allowing multiple payment options, avails to your business a wide large of customers. This is unlike when you only use one option. Using one option of payment may hinder potential customers from converting only because you do not accept their payment method.
Demonstrate Data Compliance and Security
E-commerce has a challenge of many bad players. For this reason, the concern of customers is more about the security of their data. Sometimes, information on websites may be linked to social media or the leisure industry. Confidentiality is highly prioritized by B2B companies and unless your business can demonstrate this, it won’t be easy to win the trust of many potential customers.
Implement procedures to opt-in for your website and also allow for those who are willing to opt-out any time they want to. This ensures that your website is not open for anybody even those with no business on the site.
Create Videos and Invite Content that is User Generated
You should know that; users always want to participate. This is one aspect of marketing through social media that has not changed. Allowing the audience to generate content on your website helps to build a big community as feel to be part of the business. From the experience of many marketers, potential customers trust videos on the use of products and services. Always request video testimonials from customers. The videos have shown a high chance of converting sales.
