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5 Ways to Stop Revenue Leakage and Earn More with Magento 2

5 Ways to Stop Revenue Leakage and Earn More with Magento 2

If you manage one of 5,500+ Magento Enterprise stores, you know what it means to take Ecommerce to the next level. While you may be firing on all cylinders, it’s no secret that every Magento store gets a flat tire once in a while. It’s all part of the journey to exponential growth. Whether your revenue is stagnating between $5M and $10M, or you’ve hit a plateau somewhere between $100M and $1B, we’ve seen all the ‘growing pains’ rapidly scaling companies face. So what can you do?

 

As an online merchant, your future success rests on a key decision: To outsource additional resources and expand your team’s abilities, or to integrate new technology to get things trending upward again. However, there are many factors to consider here, and Ecommerce is never a one-size-fits-all scenario. To help you make the right decision, here are our top 5 recommendations for increasing revenue with Magento.

 

1. Staff Augmentation

staff augmentation can help you climb higher and teach your team along the way.

 

Striking a revenue plateau is a sign you may have outgrown your team. Between fulfillment, account management, marketing, and more, it’s easy to hit capacity on your team’s bandwidth. Enter, an agency partner: your new Ecommerce support arm. Doubling your capabilities with dedicated resources can deliver the bandwidth and platform know-how to start driving stable growth.

 

Even if you’re opting to integrate technology, the best way to capitalize on your investment is to hire a trained expert to teach your team to use it. We’ve sent developers and engineers around the world to train on-site, though some prefer weekly or daily video-chat sessions. Either way, there’s no shame in asking for help, and Magento support is one sure-fire way to boost your bottom line.

 

If you needed to fly your company to a new destination, you’d book tickets on a reputable airline or hire a seasoned pilot. It would be much more costly (and risky) to send your team to flight school. In the same way, it takes more than the average programmer to keep your site secure and reduce the costs of fraud…

 

2. Magento Security

Just as a lighthouse helps ships steer clear of danger, every ecommerce site needs good security software.

 

Just as a lighthouse helps ships stay safe, the right security software can help your site steer clear of danger.

 

In the connected world of commerce, cyber security is a must for any business, from burgeoning B2C brands to long-established B2Bs. With hackers and fraudsters becoming more sophisticated each and every day, online retailers are losing millions. It’s estimated that online payment fraud losses will total $61 billion annually by 2023. But what can Magento merchants do?

 

With the proper security solutions in place, merchants can cash in big rather than letting revenue walk out the door. We’ve found that “fraud prevention systems” for many SMBs consist of a single person who approves or rejects every order on a site — manually… If this sounds like your first line of defense against fraud, it’s more than likely you’re rejecting real orders, approving fraudulent orders, and losing revenue in all directions.

 

On top of these challenges, you’re facing the constant threat of hackers stealing customer and employee information. Once they have it, they’ll use the data to fuel further fraud, causing enough revenue leaks to sink a cruise ship.

 

Luckily, top security and fraud prevention technologies are here to help you face these threats. From falsified “Item not Received” claims to hijacked shipping accounts and even counterfeit paper receipts, Magento partners like Signifyd and Sucuri help monitor customer activity and prevent cyber-crime. With the right tools, you can keep your revenue pipeline from leaking. Shop around for some solutions, plug your revenue leaks, and return to smooth sailing.

 

3. Mobile Optimization

Mobile optimization drives 95 thousand dollar revenue increase for U.S. Mattress company

 

Even leading B2Bs earn 40% of revenue from mobile devices. Guiding this trend are millennials, who now make up more than one-third of all U.S. workers. Combine this with the ease and popularity of shopping on sites like Amazon, and it’s no wonder so many B2B buyers prefer mobile-optimized buying experiences. Over the past two years, we conduced a series of experiments to help merchants maximize revenue from shoppers on different devices. We hypothesized that each device required different tweaks for different kinds of customers.

 

With more than 200 merchants in the testing program to date, it’s clear that customers of all kinds want better mobile experiences. However, the test results show what works for one site may not work for another…

 

Take for example one test, where U.S. Mattress experienced an 8.27% increase in revenue per visitor (RPV) and a 10% conversion rate lift by using a simplified cart header in their mobile checkout. These simple tweaks drove a $95,000 revenue increase for U.S. Mattress, with only 3 months of testing. Other merchants who implemented similar changes saw little change, however. 

 

In the end, every site is different, and every customer is different. You can increase RPV by up to 25% by implementing simple changes (view case study), but you need to run a few tests to find out what works. It’s up to you to start testing, because not doing so only results in lost revenue.

 

4. Business Intelligence

data visualizations from powerful business intelligence tools make actionable business decisions easy.

 

Powerful business intelligence tools make finding actionable data easy.

 

According to the 2018 BI Survey, “58% of enterprise companies say their organizations base at least half of their regular business decisions on gut feelings or experience, rather than data.” If there’s one thing we’ve learned from years conducing mobile optimization tests, it’s that gut feelings and “intuition” are usually wrong. Instead, every merchant needs a way to track, test, and manage their customer data in order to guarantee revenue growth.

 

Magento Business Intelligence is a powerful tool that helps merchants create a one-stop shop for actionable insights on customer data. The platform is covered under a Magento 2 license agreement, but takes a bit of Magento development know-how to set up. If you’re already using Magento and not taking advantage of Magento BI, you’re holding yourself back from success. In a few hours, a good Magento 2 developer can set up your Magento BI Dashboards and get you on your way to discovering new trends in your business.

 

For instance, Magento BI helped one merchant notice that customers referred by their blog delivered strong, consistent long-term spending. The merchant found out that engines and other channels referred customers who spend a decreasing amount over time. Find out what your customers are telling you with the tool you already have! By year 3, top Ecommerce companies generate nearly 60% of revenue from repeat purchases. How are you using your data to ensure success?

 

5. Magento 2 Accelerators

ecommerce accelerator packages make launching a new site faster than ever thought possible.

 

For many merchants, setting up a new store or migrating an old store can be a daunting, time consuming endeavor. However, as a Magento specialized agency, we were able to put our heads together to help B2B and B2C merchants cut time and costs significantly.

 

The engineers and developers at Redstage combined a series of DevOps tools we developed in-house to help B2B companies get up and running on Magento 2 in just 40-60 days. The full toolset is known as B.A.S.E., the B2B Accelerator Suite for Ecommerce. With B.A.S.E., manufacturers and distributors can transform their online businesses by increasing ease-of-use for customers and internal teams across the board.

 

The M2 accelerator is loaded with useful features developed specifically to enhance B2B operations, from sales to logistics. From one-click reordering and advanced order approvals to highly customizable pricing configurations and more, Magento 2 accelerators drive massive value for both customers and businesses by creating a single source of truth for all your customer and product data.

 

If you’re planning to bring your ecommerce ambitions online or migrate from an older platform, accelerators are the best and fastest way to get it done. Work smarter, not harder.

 

 

Final Thoughts:

From strengthening your team to preventing fraud, mastering your data, and even migrating, today’s B2B and B2C Ecommerce companies have a few revenue-boosting tools to take advantage of. The question to ask before embarking on any of these transformation paths is: What’s the right fit for my business?

 

Is it worth more to invest in keeping the revenue my Ecommerce business already generates through Magento security and fraud prevention? Or is it more valuable to expand testing to increase new business? Is it in your best interest to upgrade to a new platform? These are the questions only you can answer, but when you’re ready, we’re here to help! 

Find out what clients are saying about Redstage here.

Redstage Launches 40-Day M2 Accelerator to Help B2B’s Get on Magento 2 Fast

Redstage Launches 40-Day M2 Accelerator to Help B2B’s Get on Magento 2 Fast

JERSEY CITY, NJ – Today Adobe’s Magento-Specialized Ecommerce Partner Redstage announced the launch of our B2B Accelerator, B.A.S.E. The “B2B Accelerator Suite for Ecommerce” helps B2B companies migrate to Magento 2 (Adobe Commerce Cloud) in 40 to 60 days.

Redstage’s Chief Revenue Officer Hasan Elkomey expressed his excitement for the launch. “We were one of the first agencies to publicly warn merchants about Magento 1 End of Life,” Elkomey said, “Now we have the fastest Magento migration solution on the market for B2B companies, who are historically underserved in the ecommerce arena.”

Redstage built the B2B Magento accelerator by combining a series of home-grown solutions developed over a decade of building and migrating Magento sites.

“Our culture of ‘Work smarter, not harder’ was the key that brought the M2 accelerator to life. We’re always compiling reusable components and DevOps tools we develop to better serve our clients.” Adam Morris, Redstage’s Founder and CEO added.

Redstage’s B.A.S.E. accelerator is the most recent in a continuous roll-out of solutions for Magento 1 merchants. Other solutions offered by the agency include a special “Magento Migration Loan” facilitated through Redstage’s partnership with PayPal/Braintree. Both solutions are intended to assist B2B and B2C merchants as Magento 1 End of Life approaches in June of 2020.

The announcement comes shortly after the firm completed replatforming four Magento 1 stores for Zwilling J.A. Henckels to Adobe Commerce Cloud, influencing a 50% increase in overall revenue.

 

About Redstage

Redstage Worldwide LLC is a web development agency specialized in building websites on leading ecommerce platforms. Redstage is an Adobe Commerce Cloud Partner and Magento Enterprise Partner known for B2B ecommerce transformation and their intimate understanding of B2B business operations.

 

 

3 Ecommerce Technologies B2B Sellers Need for 2020

3 Ecommerce Technologies B2B Sellers Need for 2020

In 2019, customers became bolder with their demands and expectations. You may have learned how to satisfy them with evergreen content, site optimization, and fraud protection. However, as 2020 picks up, merchants need to stay one step ahead of the competition by studying trends and going beyond customer expectations.Through convenience, conscious consumerism and flexibility, these 3 eCommerce technologies help B2B companies boost sales and improve shopping experiences.

1. Conversational Search in the Rise of Convenience

 

voice search device for flexibility

 

Conversational Search is designed to mirror spoken search requests rather than keywords. Siri and Alexa changed the way shoppers navigate the Internet and retailers are finding new ways to implement “Conversational Search” in their SEO strategy. Thanks to technologies like Klevu, customers can interact with a search engine and find answers using their normal, natural language. Activating Conversational Search on your site gives customers easy, on-demand, and frictionless access to the information and products they want.

Conversational Search for B2B

Automated email blasts and informal sales outreach alone, no longer close B2B deals. 30% of web browsing sessions will be conducted without a phone screen this year. Ensuring your online store is ready to provide a simple experience through search is key. To reach your customers, you must:

1. Research: Optimizing search requires getting to know your potential customers. Research and learn the questions they’re asking, challenges they’re facing, their priorities, goals, favorite products, and the phrases they’re using to search for products you provide.

2. Optimize: Once you know your customers’ burning questions, conduct a full search audit and optimize your site. Remember, 90% of executives research using their mobile devices before making a purchase decision. You can better serve your customers when your site feels conversational and your voice search feature is user-friendly on all devices.

3. Create Content: Voice-search optimization requires your content to reflect your buyers’ needs. It should be easy for your customers to navigate your site search through natural conversation. Include “ask keywords” in your voice search strategy that answers your buyers’ questions. Some examples include, “how can I strengthen my eCommerce strategy? ” or “what are the product benefits?

2. Loyalty’s Place in the Rise of Conscious Consumerism

 

loyalty card in wallet for flexible purchases

 

In 2019, “Conscious Consumerism” became mainstream. Now 65% of global consumers make belief-driven purchases. In addition, 66% of shoppers choose to stay loyal to brands that share their values.

Implementing platforms like Loyalty Lion will allow merchants to create unique loyalty programs. This will make it easier for customers to practice “Conscious Consumerism” while building authentic relationships between you and your customers.

Loyalty programs employed by companies like Stay Wildish are built upon members completing monthly challenges in exchange for points. Shoppers can then donate their points to non-profit organizations. This keeps customers returning to engage with the program as they earn social rewards they value.

Customers who are aligned with your mission are more willing to act as advocates and share brands with others who have similar values. By appealing to what your customers want, you’ll secure their loyalty long-term and increase their lifetime value.

Loyalty for B2B

To encourage your existing customers to return, implement a loyalty program in your B2B strategy that can help you acquire like-minded customers who will convert faster and stay loyal longer. According to B2B Marketing Academy, loyal customers are five times more likely to make a purchase and forgive mistakes. They’re also seven times easier to upsell if you include:

1. Personalization: One loyal customer equals a steady source of income. While B2B companies offer a smaller pool of customers than B2C, it’s critical to add a more personalized touch.  Your customers are online, meet them there. Personalize their emails, and provide multiple ways to communicate messages to them such as text alerts. Personalization efforts can drive a six-fold increase in sales!

2. VIP Rewards: Customers love specialized perks. Don’t waste a good email without offering your customers exclusives like reward points, product sampling, and early access to promotions. Keep your customers’ goals in mind by figuring out how your reward points can directly impact their lives and be useful beyond your company’s objectives.

 

3. New Expectations Demand Shipping Flexibility 

 

Shipping Flexibility

 

Customers want options, and they want them on their terms. Fast shipping, however, is no longer an option but an expectation. Retailers need to start looking at innovative and alternative shipping services and tools like ShipperHQ to meet these new expectations and create new and better experiences for customers.

BOPIS (Buy Online, Pickup In-Store) is a relatively new buying option that continues to rise in popularity. Like B2Cs, B2B companies  are implementing this strategy to change how they interact with their customers. Just think about it, if your customer needs a machine part or tool that day, BOPIS allows them to buy it through your website in minutes and pick it up at a nearby store, reducing their project timeline. This also helps with items that have shipping restrictions and can take a long time to arrive where the customer needs them.

Additionally, 75% of BOPIS users make unplanned purchases while they’re in your store, according to Agilence. If Home Depot, Lowes, and Amazon can offer BOPIS options, it’s time more manufacturers and distributors take advantage of this powerful technology.

Other buying options include above-and-beyond services like same-day, white-glove, or in-home delivery. The construction, wholesale and distribution, and automotive industries can benefit greatly from it. For example, construction employees are often sent out to pick up orders. Same day delivery can save project managers time and money. These implementations will keep merchants ahead of their competition and improve customer experiences.

Shipping Flexibility and B2B

B2B customer demographics are shifting. Millennials are becoming decision-makers and they’re expecting miracles. More than next day delivery options are driving sales, they’re relying on innovation and technological advantages to make their lives as buyers easier. Shipping is one of the buyer’s final touchpoints and  B2B companies can improve these experiences through:

1. Price Transparency: B2B customers expect online stores to reveal shipping costs before purchasing. Consider options that are fast and can cut down shipping costs.

2. Flexible Returns: The ability to provide flexible and easy return options will make or break your reputation. To keep your customers’ trust, provide a clear and easy return policy on your website and include return labels with shipments.

3. Efficient Distribution Strategies: B2B eCommerce sales in the U.S are expected to exceed $1.18 trillion by 2021. Success in the marketplace comes from adapting to customer demands but also being aware of rising threats. Adding more distribution centers and new technologies that can improve tracking of shipments, real-time traceability, and threat detection such as environment monitoring can help streamline logistics.

 

Final Thoughts

Your recipe for success in 2020 is to take today’s latest technical capabilities. Effectively engage customers at the beginning of their shopping journey, encourage repeat purchase through advanced search, loyalty programs, and shipping convenience.

B2B companies  who keep up with these industry trends will remain one step ahead of their competitors. A strategic, “customer-first” mindset will allow you to remain innovative while improving your customer’s shopping experience. Continuously ask yourself, “how can I make buying easier?” or “how do I like to shop?” Then implement the right technology.

To find out how you can integrate these technologies in your 2020 eCommerce strategy, book your free consultation with Redstage today. If you’re thinking about upgrading to Magento 2, learn more about our 40-Day B2B Accelerator here!

10 Articles To Strengthen Your Holiday Ecommerce Strategy

10 Articles To Strengthen Your Holiday Ecommerce Strategy

As Thanksgiving quickly approaches, retailers and e-marketers have a lot on their minds. With touchpoints coming from multiple directions across your customer journey, it’s easy to overlook critical components that can immediately affect your revenue goals. To keep you on track, we created this holiday roadmap that covers every part of your funnel. Grab some hot chocolate, scroll through our list, and rest easy while your holiday sales jump like Jordan.

1.   The Difference Between Good & Great Content.

There are multiple ways to leverage content to hit different audiences. However, doing so well enough to generate leads, encourage customer loyalty, upsell, and build trust can prove challenging. In these 3 blog posts, we share a few gems to help you produce content that engages and will continue to drive value far beyond the holiday season. If your content marketing strategy doesn’t utilize these key principles, it’s not too late to inject them into your plan. Take a look and maybe grab an idea or two to spice up your content.

Content marketing should be a major cornerstone in your marketing arsenal. By providing valuable, free content, that builds customer empathy, you will attract and convert new prospects into brand-loyal customers. The caveat to producing great content is having the foresight to produce content that aligns with customer interests, while continuously delivering new content that your customers hunger for.

— Christopher Yin, Creative Director, Redstage

Revenue Increase With Good Content

Key Take-Aways:

Know your audience and create content that hits them on a personal level. What are their interests and hobbies? What are the causes they care about? With a more complex buying process, B2B companies may want to consider producing content that hists each part of the sales funnel. Are you helping your audience think critically about the industry? How can you make your customers better-skilled professionals Furthermore, how can you align your brand with these things in a way that’s authentic and true to your brand?

The Difference Between Good & Great Content Marketing.

Top 5 Trends in B2B Personalization & Social Selling.

What Prime Day Can Teach Us About Holiday Sales.

2.  How to Stop Your Store from Crashing

Thanks to your engaging and authentic content, customers are flocking to your store. Lucky for you, holiday spending is expected to increase by 5% this year, but most customers won’t be visiting your physical location. More than half (around 53%) of your holiday customers will shop exclusively online. This surge in traffic has the potential to cause a lot of stress on your server, causing crashes or bugs that leave your customers aggravated or empty-handed.

You’ve worked hard to build trust and develop customer loyalty, you can’t fail them now, and with our help, you won’t.

The holidays are a time of increased profits, but that comes with a huge load on websites. So if you haven’t done proper stress testing to account for higher demand, you won’t know how your online store is going to react.

Adam Morris, CEO at Redstage

Revenue loss and Conversion Rate

Key Take-Aways:

Proper preparation prevents poor performance. Your customers won’t let you off the hook if you give them a poor experience, especially if you’re a wholesaler or manufacturer who has an inaccurate count of inventory. Twitter can be your best friend or worst enemy. Check out these articles to ensure you stick with the former by properly monitoring your site and completing our performance checklist. These 4 articles will help you optimize and digitally strengthen your store for the holidays.

Ghosts Of Black Fridays Past: 3 Crucial Warnings For Retailers.

Black Friday Countdown: 4 Critical Last-Minute Store Optimizations.

Black Friday Countdown: 8 Omnichannel & Back Office Final Touches.

Q&A with Redstage’s Adam Morris: Prep for Black Friday 2018.

3. How To Unlock More Mobile Holiday Revenue

By now you have done the research and collected the data. You know your customers’ buying habits, likes, and dislikes.  You now only have 1 shot and a couple of seconds to impress them with frictionless and secure customer experiences. 32% of consumers change their minds about making a mobile purchase by abandoning their carts. Getting this step right can potentially cut your mobile cart abandonment in half. A part of stress testing your site is assessing your checkout funnel and you can do so with the Mobile Optimization Initiative. This blog can get you thinking with a mobile-first customer experience mentality so that you are not missing out on your share in over $500 billion.

Smart A/B testing based on data-driven analysis gives you insights that lead to successful, simple changes that can have a big impact on increasing your revenue per visitor.

Benjamin Shapiro, Solutions Engineer, Redstage

Revenue Loss and CART ABANDONMENT

Key Take-Aways:

Doing it right the first time can save you the trouble in the end. Potential consumers and corporate buyers want to check out with ease, the sooner you begin simplifying the check-out process the better your site will perform The sooner you start, the better your site will perform. Better performance means staying one step ahead of your competitors.

How to Unlock More Mobile Holiday Revenue.

4. How to Defend Your Store from Cybercriminals

You have done your due diligence and can sit back and enjoy your holiday. Not exactly. While customers are increasingly shopping online, there is a huge risk that their data can be exposed. You may have heard of some common hacks such as phishing, payment fraud, and account take over.  With an expectation of a $22 billion loss this year due to fraud this section is a must-read. Here you will find the top 3 tactics hackers will use to attack your eCommerce site and how to keep your store and customers safe. We also joined forces with our trusted partner Trustpilot to give you 7 ways to improve your website’s trust signal.

Merchants need to start with an honest evaluation of what fraud costs your company. This isn’t just the money you lose on fraudulent orders you ship; it also includes all the time your staff puts into screening orders as well as the revenue lost to rejected orders which may have been safe. When you add up all these costs, the price of top fraud prevention solutions starts to look a lot more attractive.

— Oliver Sosinsky, Sr. Solutions Engineer, Redstage.

Revenue loss through payment fraud

Key Take-Aways:

Your customers deserve the same amount of protection as your store and protecting their privacy must be a priority. Monitoring is both crucial and necessary in keeping your customers and store safe. However, investing in a well-vetted Anti-Fraud Solution can ease your worries.

7 Ways to Improve Your Website’s Trust Signals.

3 Tactics Hackers Will Use Against Ecommerce Store Security This Holiday.

3 Stopgaps to Ensure Your Holiday Strategy Goes As Planned…

Ready or not, the holiday rush is coming, and it is up to you to properly prepare. B2C companies are rising at a steady pace and facing many challenges starting at the top of the sales funnel. However, B2B companies can learn a thing or two as they play a key role in ensuring B2C’s and their customers are benefiting from their product or services. Customers and their unpredictable demands and expectations are inevitableTo produce a safe, frictionless, shopping experience, both B2B and B2C companies must work in sync to increase conversion.

Whether it be online or a brick and mortar, your ultimate goal for this holiday season is to make a profit while increasing brand loyalty. If you want to stay ahead of your competitors here are 3 action steps, you should take.

  1. Learn more about the Mobile Optimization Initiative and sign up for a free consultation here.
  2. Schedule a free consultation to find out what testing feature is best for your site here.
  3. Schedule a consultation to find out which security bundle fits your site’s needs here.
How to Avoid the Toughest B2B Ecommerce Challenges

How to Avoid the Toughest B2B Ecommerce Challenges

Effective change management for B2B companies demands close attention to operational requirements, capabilities, and challenges. Continuing our investigative approach to ecommerce, the Redstage team regularly meets with B2B executives to discuss the challenges inherent in driving change on a massive scale. In this interview, we speak with a marketing specialist responsible for guiding multiple B2B companies through the ecommerce transformation process.

In the Q&A that follows, we explore learnings from the cultural, technological, and organizational hurdles he’s faced to help others understand the procedures that drive successful transformations. As he notes, leading digital change is no easy feat. As you will learn, the outcome is entirely dependent on forming a united front within your organization.

 

Q1: What have been your biggest digital transformation challenges in the past year?

 

 

“It’s tough to find the right partners that can communicate what you’re planning and bring your vision to reality.”

 

 

A: That depends on your perspective. Mindset and process change are the biggest part, because going digital is very different if your company hasn’t adopted digital already. Internally, trying to take people-oriented processes and digitize them for an ecommerce experience means creating new roles and departments; making people at all levels take on new responsibilities, and combating a lot of kicking and screaming on whether or not this is a good direction for the company.

Externally, it’s tough to find the right partners that can articulate what you’re planning and bring your vision to reality. It’s usually hard getting them to understand your business and how to get you to where you want to go.

 

Q2: What has been your biggest challenge with regard to ecommerce?

 

 

“If the data isn’t already in your ERP, you have to change the way you do business in order to make it all fit.”

 

 

A: Ecommerce is such a big universe. There are so many moving parts involved in making a B2B ecommerce experience a reality. With many SKUs, our focus was putting a PIM (product information management system) in place to create a more robust, data-driven experience for the end user. If your company is not data-driven already, restructuring your company for ecommerce is a tremendous undertaking. All of your info needs to be there. If the data isn’t already in your ERP, you have to change the way you do business in order to make it all fit… and if you don’t, you end up attempting all kinds of customizations that will ultimately lead to failure.

 

Q3: What are some solutions you would recommend that allowed you to solve past challenges?

 

“More or less, the ecommerce initiative needs to be driven from the top down.”

 

 

A: More or less, an ecommerce initiative needs to be driven from the top down. If you don’t have the backing of the executive group and the resources and patience to do this — that’s the challenge.

 

Q4: What are your biggest fears and challenges about digital transformation in the year ahead and why?

 

 

“Executive management needs patience.”

 

 

A: There are so many obstacles along the way and pressures to quickly launch – but do not launch a site until it’s ready. Set the right expectations with executive management and allow yourself extra time on your roll-out plan for unforeseen circumstances. Ecommerce implementations can fail if you don’t have everything working in sync, but I’d also recommend you get the entire roadmap planned out and not just pieces of it.

 

 

Some system integrators we’ve worked with, the big guns come into the office, they’re very knowledgeable, and then you don’t see them again…”

 

 

I had yet to come across a partner that says “Okay, you’re looking at Magento and here’s the 10 things you should worry about…” No questions about the quality of data you have, where you’re going to house product images, your plans internationally, or how you’re going to implement tokenization to meet privacy laws.

Some system integrators we’ve worked with, the big guns come into the office, they’re very knowledgeable, and then you don’t see them again… or the people hired for your initiative start working on another project, and you need to reach them but can’t. Delay, delay, delay, delay.

 

Q5:  If you could give one piece of advice to B2B business owners, what would it be?

 

 

You’re going to need to solve an awful lot of problems along the way, and you need to make sure you have the right people.”

 

 

A: Be a problem solver. You’re going to need to solve an awful lot of problems along the way, and you need to make sure you have the right people involved in your project. Lastly, don’t announce to the world what you’re doing until you’re ready, so there are no expectations. When the expectations are set, make sure you’ve given all parties involved an accurate and well-informed scope of what’s coming, and be investigative with your partners.

 

Final Thoughts:

At Redstage, our engineers are dedicated to helping B2B companies understand the full extent of their needs, challenges and obstacles. Download our B2B Power Index for Manufacturing, Wholesale & Distribution for a better understanding of your current tech stack, and the technologies that can help you become a true digital leader.

Top 5 Trends in B2B Personalization & Social Selling

Top 5 Trends in B2B Personalization & Social Selling

Despite changing customer habits across the commerce industry, sales strategies have largely remained static. That is, until now. With a noticeable rise in account based marketing adoption and “hyper-personalization” software that utilizes machine learning, today’s sales teams are better equipped than ever to engage prospects across digital platforms; new territory for B2B companies. Here are the top 5 ways sales teams are taking advantage of new tech.

 

5. Stepping Up the Mobile Game

In a recent article, Genius Ecommerce notes “91 percent of B2B buyers complete searches using mobile devices and one in four buyers makes a purchase using a mobile device.” With millennials making up more than 35% of the US workforce, there’s an industry-wide push to create simple, elegant, and frictionless online experiences that cater to the generation’s habits and expectations. To do this, sales teams must begin thinking like millennials and driving engagement through smartphones, their device of choice.

For millennials, a downloadable product list doesn’t go a long way, especially on a phone. It’s too time consuming, and millennials know there’s a high probability another company (i.e. your competitor) will have a simpler online experience that shortens their workday and makes their lives easier.

 

4. Increasing Repeat Purchases

Redstage CEO Adam Morris notes, “Modern B2B sales teams have begun tracking online customer behavior to predict when customers will need to reorder. These teams can use the same tech to order on behalf of customers and even set up automatic subscription reordering.”

These options remove strain from the customer’s decision to buy and encourage repeat purchases. Send a simple reminder to customers recommending they buy again or to buy a related product and watch AOV increase along with order frequency. Imagine what this does for sales commissions.

 

3. New Ways To Interact & Engage

With all these new modes of selling, teams need to broaden their reach to maximize sales opportunities. Tackling this challenge is easy with the right toolset. Chatbots act as an extension of the sales person, becoming the first-line of defense for customer assistance. Through chatbots, sales reps can help users find a product they might’ve missed, share in-depth details to make a sale, and further engage prospects in real time.

Like chatbots, social media is another tool that extends the sales team’s skillset and enhances reach. DemandGen’s 2018 B2B Buyer’s Survey reports that 34% of B2B buyers are spending more time on social media to research vendors. 52% say they use social media to drive purchasing decisions, and 82% of B2B buyers say the winning vendor’s social media content has a significant impact on their decision to buy. Using social media is much friendlier than cold-calling and helps create a community around your products. Sharing is caring!

 

2. The Power of Feedback

Customer reviews drive sales. End of story. In G2 Crowd’s 2018 B2B Sales & Marketing Report, 92.4% of consumers said they were more likely to buy a product or service if they were able to read reviews (5.5% were unsure, and only 2.1% said no). The reason? There’s a ceiling on how much buyers trust brands, which makes them trust customers more than the vendors themselves. According to Mashable, “Millennials, in particular, trust user-generated content 50% more than other media.”

Reviews also help sales teams identify specific product attributes consumers love. These attributes can then be highlighted, promoted, and shared with prospects who may be interested in the same products to facilitate additional orders. Positive reviews typically decrease cart abandonment, increase time spent viewing products, and of course, increase sales by helping buyers get honest, trustworthy feedback.

 

1. Becoming a Customer Experience Expert

A 2017 Walker study concluded that “Customer experience will overtake price and product as the key brand differentiator by the year 2020,” beating out the traditional “4 P’s” of the marketing mix. As a result, it’s now up to sales teams to lock-on to customer preferences to maximize reach and engagement. Personalization platforms like Bronto help sales and marketing teams understand the preferred devices and channels each customer uses. When it’s time for a customized message, you’ll know how to get their attention.

If you ran a shoe store and a customer came to the register, only to cancel or return their order, you would want to learn why. In the digital world, if customers put an item in their cart but later remove it, it only follows that sales teams should investigate. Maybe a confusing or lackluster product description made them hesitate, perhaps it was a question of quality, source, or price. For B2B’s, fitment is a big factor, and finding replacement parts should be easy for customers. This is the time to send targeted messaging to help narrow down customer “unknowns” and increase the likelihood of a sale.

 

Final Thoughts

Using customer, cart, and product data, sales teams can now identify trends faster and easier than ever, pinpoint bottlenecks in the purchasing process, and refine experiences to increase sales and customer satisfaction. For more tips and tricks B2B sales teams can use, find our free Digital Sales Engagement Handbook here, and let us know if you’re interested in enhancing your sales team with Bronto.