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.
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.
This week, Eric Dye of the Entrepreneur Podcast Network interviewed Redstage CEO Adam Morris on the coming B2B eCommerce revolution. In this episode, the pair discuss the latest trends, market news, and strategies for companies who “NEED” to adapt to the new standards of digital commerce. Click play above to listen now or follow the link at the bottom to download the podcast. Happy listening!
Insights included in this entrepreneur interview:
1. “What does the B2B eCommerce market look like and why is B2B super hot right now?”
2.“How is B2B eCommerce different from traditional online retail?”
3.“What are the main roadblocks for companies going digital?”
As a digital entrepreneur, Adam Morris has been working alongside Anthony Latona (Redstage’s CMO) since their university days. The duo co-founded several businesses together over the years, most recently Redstage, which started in 2008. As Morris recalls, “All of our businesses revolved around online commerce, and we’ve had a knack for being ahead of the Internet business curve. Redstage is an eCommerce agency that specializes in web design, development, strategy and support for B2B and B2C clients all over the world. As part of the Fulcrum Family of companies, we have over 700 employees on 5 continents. For the past 10 years we’ve been transforming companies through eCommerce, now focusing primarily on Magento and Shopify. With B2B eCommerce set to explode before the end of the decade, we’re ready to take on the biggest challenges facing the world’s largest companies – especially when it comes to tackling the transition to digital, something we’re quite good at.”
If you enjoyed this podcast, check out this post on MagePlaza about our developers’ biggest “B2B Pet Peeves” (the top 4 signs that a B2B site needs to upgrade).
Whether your product is bottles of lemonade or festive bikinis for the summer; if you’re new to B2B e-commerce, it’s important to have a plan when selecting the best platform for your business.
The explosion of online shopping popularity projects ecommerce transactions to out-pace in-store sales in the next few years. Nielsen confirms this with research and offers up some of the browse to buy rates for goods & services. Recent trends show B2B customers seeking more of the e-commerce experience as opposed to shopping offline. So who exactly are these customers?
B2B ecommerce has several types of customers, each with their individual requirements for how they define their success. These customer types include B2B consumers (the company plans to resell the product or service to them). Other customer types include wholesalers/distributors who will sell your products and services to other B2B companies and dealers who sometimes resell the company’s product for them.
Knowing your customers, here’s a few things to consider when selecting the best e-commerce platform for your online store.
1. What are your company’s objectives for your B2B e-commerce store?
It is important to know what you want to achieve when you’re building an e-commerce store. Choosing the platform with the best deployment method for your store will ensure your business needs and your brand objectives are supported.
2. Is the platform best for B2B e-commerce?
The platform you choose should have documented successful experience meeting the demands of e-commerce online stores. Conduct your own research to see what similar online stores are using and if the platforms of their choice have sufficient experience to meet the demands of an e- commerce store such as a high traffic volume, search engine optimization and mobile friendliness. B2B stores operate best on an open source platform such as Magento. The demands of an online B2B store are much greater than that of a B2C. Magento software caters to this need with such benefits as bulk order management and inventory tracking across multiple warehouse locations.
3. Is the platform customizable?
For companies like Zoetis, it was important to have an online B2B store that provides a B2C experience for their customers. Catering to the needs of veterinary professionals in over 50 countries 24/7, they needed an e-commerce platform that provided world class customer experience, met the needs of their complex business rules, featured promotions and included 40+ database feeds. The best option for them was to use the Magento Enterprise Edition to implement their online store.
4. Can you integrate any existing software into your new platform?
Integration is very important to the success of your online store. Large businesses that are typical users of B2B e-commerce platforms understand that integration of pre-existing software such as your CRM to your back office is critical. Building an IT environment that improves company efficiency is vitally important; if your existing software does not integrate with the new e-commerce platform it will negatively impact your overall result.
5. Does the platform provide the best user experience for your customers?
Today’s customers expect and demand a user experience that is second to none when they visit e-commerce stores. The platform chosen for your store should provide streamlined features like one click purchasing for both software and professional training, providing an easier buyer experience. Staying up to date on how buyers utilize the internet in non B2B environments will enhance your store’s B2B experience. According to Magento, “93 percent of business-to-business buyers prefer to purchase online, with self-serve information, direct from vendors,” so an intuitive experience is key. Learn more about Magento’s B2B module here.
When choosing a B2B e-commerce platform choose a platform with a proven success rate of developing B2B e-commerce stores and can adapt to the changing needs of your company.
Here at Redstage, as a Shopify Plus Partner and Magento Enterprise Partner, we believe one of these great platforms may be the right fit for your B2B store and personally vouch for their abilities. Give us a call anytime for a free consultation on options, features and considerations for each to find the perfect platform for your business.