5 Must-Have B2B eCommerce Features for 2023

5 Must-Have B2B eCommerce Features for 2023

by | Sep 6, 2022 | Commerce Strategy, System Integrations

In the past few years, B2B companies across industries have been adopting eCommerce as the main channel for selling products. B2B eCommerce alone accounts for $1 Trillion in sales today and continues to grow. According to Statista, Millennials now make up over 60% of the B2B buyer demographic, making them the single largest demographic of B2B buyers today. But what does this mean for you, the B2B seller?

As buyers grow more accustomed to better customer experiences provided by top eCommerce platforms, there are a growing number of features this new generation of buyers has come to demand from their suppliers. In order to grow your sales pipeline, retain, and attract these buyers you should seriously consider these 5 must-have B2B eCommerce features.

 

B2B eCommerce Features Your Store Needs

 

1. Advanced Site Search

 

on site search advanced search

 

Advanced on-site search is crucial for making sure your customers can find exactly the products they need quickly and easily. Typically, B2B products have a lot of specific parameters, (weight, length, height, size, shape, etc.), making searches easy by allowing customers to search by these parameters or SKU numbers.

“We’ve seen the conversion rate of users who search be 6-8x that of visitors that don’t use search,” says Redstage CEO Adam Morris. “Utilizing search shows intent and having a powerful search is crucial to capturing high converting customers. If a user can’t find the exact product they’re looking for due to slow, out-of-the-box, and not customized for market searches, you will lose the sale.”

A powerful advanced on-site search can make all the difference. Smart search features reduce the likelihood of expensive returns, refunds, and abandoned carts. In Klevu’s recent report, they found that 50% of B2B buyers identify improved personalization as a key factor when searching for online suppliers with whom to build business relationships. Furthermore, 48% of consumers spend more when they receive personalized experiences. Because of this, it’s critical to provide the best search experience possible. Don’t let a sub-part search experience keep you from unlocking guaranteed sales. See the rest of the report here.

 

 

“We’ve seen the conversion rate of users who search be 6-8x that of visitors that don’t use search” – Redstage CEO Adam Morris

 

 

2. Custom Product Filters

 

advanced product filters product categorization categories

 

Giving your customers the ability to filter by different product parameters allows them to quickly find what they’re looking for on the category page. Custom product filters allow merchants to display more information about a product’s qualities or attributes and allow customers to more easily refine product searches.

AI-driven dynamic filters on your category pages can automatically display the most relevant attributes to customers, making the buying process even easier. Adding images in product filters can make the process even faster and remove another chunk of friction from the process.

One of our Redstage’s platform expert Solution Engineers, Benjamin Shapiro, had this to say, “If evaluating an eCommerce system, consider what options are available for custom product filters. Does the platform natively support this? Does the native search work well with custom filters? Are there third-party options available? Choose a system that meets your unique requirements or that can be built to suit if required.”

These can make all the difference between your customers finding the exact product they need or abandoning your site for a competitor.

 

3. Customer Segmentation Groups and Profiles

 

b2b customer profile

 

Segmenting different buyers into customer groups allows you to create profiles for certain kinds of buyers. This allows you to ensure different customers get the right pricing and see the products most relevant to them. It also enables you to utilize upselling and recommendations to increase average order value (AOV). Keeping your customer groups in mind when setting up site search and custom filters is key to helping the right customers see the right filters and results.

Using segmentation, separate customers into categories by company size, company needs, and industry. This can help you provide another layer of personalization and more value to different kinds of customers. A report done by Notify Visitors found that 80% of consumers do business with brands that customize their experience to them. They also found that segmentation makes firms 60% more likely to understand customers’ challenges and concerns and 130% more likely to know their intentions. This makes selling the right products to the right customers exponentially easier.

“Successful B2B eCommerce includes considering customers individually and as groups,” says Shapiro. “Consider setting aside time to evaluate your current Customer Group/Segmentation strategy and review the data of both customer groups and individual customers. Segmenting your customers is an opportunity to drive additional revenue through your eCommerce platform and provide your marketing team with valuable insight into customer behavior.”

 

4. Advanced Shipping Options

 

advanced shipping fulfillment logictics

 

Some B2B buyers want fast shipping, even if it’s not cheap. At the same time, others want shipping to be as cost-effective as possible, no matter how long it may take. Keeping your new customer segments in mind, B2B sellers must provide advanced shipping options for all their buyers and serve their individual needs. Many B2B companies have complex shipping needs, like delivery to multiple locations or drop-shipping from different warehouses to keep inventory down.

Utilizing fulfillment software, such as ShipperHQ, can increase productivity and decrease headaches and hiccups. The right shipping software can help build a shipping strategy that aligns with your business goals and these customer demands. Provide automatic checkout that considers what they’re ordering, how frequently, and how much volume every time to increase reorder rates. And, provide order tracking and tailored shipping rates to customers with discounts and other arrangements automatically, all within one system.

 

5. Product Information Management software

product information management

 

Due to complex product catalogs and new buyer habits, it can be difficult for online merchants to keep product information updated and consistent across multiple selling channels or sites. Think about how complex information gets across Amazon listings, Walmart, local retailers, and DTC channels. A product information management solution (PIM) can help. These solutions provide a single dashboard to collect, manage, and enrich your product information. 

PIMs save you money by lowering product enrichment costs by up to 5x. They can also reduce returns by as much as 40%, and increase conversion rate by more than 400%, according to Akeneo. Imagine what you could do by empowering your team with a PIM, allowing them to update or change product info in one place and automatically update it wherever it appears on the web. The ability to update product attributes on the fly will only strengthen the power of custom filters and your advanced search. Altogether, these features can pack a punch and give you a serious edge over the competition.

 

Why You Need To Implement Now

 

B2B distributor The Binding Source saw huge gains after optimizing their B2B buying experience with the features mentioned above. They implemented strong custom product filters on their category pages, integrated ShipperHQ for advanced shipping options and optimizing fulfillment, and built customer profiles and groups to segment buyers for custom pricing and product rules. The result? Within 1 month of launching these new features, The Binding Source conversion rate skyrocket 170%, and saw transactions grow 33%!

These B2B features aren’t simply “nice to have,” they’re must-haves. The stats speak for themselves. If your B2B eCommerce site doesn’t have all the features the new generation of buyers are expecting, they’ll find a competitor of yours that does. Contact Redstage to implement one or more of these features today!

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Four Ways to Easily Upgrade Your Customer Experience

Four Ways to Easily Upgrade Your Customer Experience

by | Nov 28, 2020 | Commerce Strategy, eCommerce Platforms, UX/UI Design

Thanks to a global boom that shot eCommerce 10 years into the future, companies around the world are quickly adapting to the new normal. In an ocean of different brands from consumer goods to luxury products and more, all investing in strengthening their eCommerce operations, how does a merchant differentiate themselves from the competition?

 

“Some B2Bs are poised to adapt and take advantage of investments they have made in eCommerce and digital marketing. However, many B2Bs are going to be caught flat-footed, having delayed investments in the past or shying away from eCommerce due to internal channel conflict. The time to act is now.”Brian Walker, CSO at BloomReach

 

Your online shopping experience is your business’ most valuable asset. According to PWC’s research, 73% of customers said that shopping experience is a decision-making factor for them. Another study showed that most buyers believe new technologies improve the purchasing process, on and offline.

We interviewed experts from Redstage, BigCommerce, and Threekit to discover how online merchants can upgrade their customer experience and stand out in a hyper-competitive marketplace. Watch the video interview here.

 

 

Meghan Stabler

Meghan Stabler

VP of Global Product Marketing, BigCommerce

With 20 years of experience in product marketing, Meghan leads Global Product Marketing and Communications for the multinational SaaS juggernaut, BigCommerce.

Christopher Yin

Christopher Yin

Global Creative Director, Fulcrum Digital and Redstage

Since creating award-winning online experiences for Fortune 500’s like Crayola, Pfizer, and Macy’s, Christopher helps ensure Redstage’s customers get the same treatment.

Marc Uible

Marc Uible

VP of Marketing, Threekit

Marc has spent the last decade doing marketing for PayPal and being an entrepreneur, helping companies customize products in 3D, Augmented Reality, and Virtual Photography.

 

 

 

1. 3D Product Models

 

 

Online product experiences are changing. In an ecosystem that prohibits shoppers from going to physical stores (not to mention physical product demos), 3D interactive product models are a must. In 2016, the average customer expected to view 3 pictures of a product before purchasing. By 2019, that number rose to 8. In 2025, it could be 20…

Marc Uible poses the question:

 

“Are you prepared to show your customers 10, 20, even 50 images of a single product? Or could you offer a 3D rendering of a product that can be viewed from every imaginable angle and even placed in a [physical] space?” 

Marc Uible

 

The latter is a frictionless way of providing your customers with the confidence they need to purchase. This is where Augmented Reality comes in.

Imagine you are shopping for a stove on an online appliances marketplace. You don’t know exactly how much space you have, but you know the color and finish you want it to be. What kind of shopping experience do you need to experience to ensure that a stove matches your criteria? Check it out:

 

 

Stove Range

We designed this sample model of an AR stove range to show retailers and manufacturers how popular appliances and machinery can be viewed in a home or business setting from anywhere.

📲 Point your smartphone camera at the QR code to try it out, wherever you are!

 

 

The above 3D model provides shoppers with a way to examine every inch of the product. Unique experiences such as this one provide your customers with not only the confidence to purchase, but the confidence to continue to purchase knowing your online shopping experience is a better one than most.

 

“77% of customers have chosen, recommended, or paid more for a brand that provides a unique or personalized service or experience. Why? Because you’re creating something that feels unique to me. Like I’m in the store or demo, holding the product.”

Meghan Stabler

 

Further, providing interactive 3D renderings for customers to see can help retain customers and cultivate ongoing relationships. Utilizing 3D renderings is great for: 

 

  • Upselling: If extra parts or accessories are available, showing them in tandem with your products so customers can see how and why they should be bought together. Giving customers confidence that you are providing the best service and products keeps them with your brand for life. 
  • Limiting mistakes: When anyone can see what a product looks likes, how it fits in their space, and the parts needed for it there are less mis-orders or mistakes in purchasing. 
  • Service: Make servicing and ordering of new machine parts much easier for customers by utilizing a blown up 3D model that allows them to visualize the part(s) that need servicing.  

 

“Customers are not only going to want these experiences but soon will come to expect that you have them. They will become the standard in eCommerce. If you want to compete with Amazon, you have to provide the same if not better shopping experiences.”

Christopher Yin

 

In conclusion, the main goal of your eCommerce store should be to make customers confident they are making the right decision in their purchase. With 3D models, you can do just that and more. 

 

  

 

2. SaaS eCommerce Platforms for B2B

 

Saas eCommerce Platforms for B2B

  

One of the biggest changes to the B2B buying market has been the change in the buyer demographics. Millennials, the age group of 18-34, are steadily becoming more and more of a percentage of the workforce worldwide. Specifically, becoming B2B buyers and decision-makers more often. In the age of Amazon, this age group is used to and expects great online shopping experiences now. .An eCommerce platform makes making these improvements less complex.

 

“As millennials come up in the workforce and start to have buyer decision making power, they’re starting to say: Hey, I’m on Amazon, TikTok, and YouTube all day, spending a majority of my day online. Can I buy this $50,000 machine that I need for my job online as well? You know, as a purchaser, can I buy it online and can I buy it seamlessly? That’s starting to be a real question in the B2B landscape, it’s pretty clear.” 

Marc Uible

 

“68% of buyers do not want to talk to a sales rep as their first touchpoint,” says Marc Uible, sourced from this Digital Commerce 360 article. “They want to know for a fact, does this company sell what I need and can I be confident it’s what I’m looking for…” the easiest way to do that is with an eCommerce store.

 

SaaS, or Software as a Solution, eCommerce platforms are in-the-cloud solutions that are automatically updated and maintained by the platform themselves. BigCommerce, for example, is a SaaS eCommerce platform that is utilized by both B2B and B2C enterprises like Avery Dennison, Ben and Jerry’s, and SC Johnson for their eCommerce operations. 

 

“In the B2B world, [millennials] experiences and expectations are still of the B2C world. So, we have to adopt the technologies of the B2C [industry] to enable our B2B buyers. B2B businesses are also beginning to expand their operations and their ability to sell direct to consumers as well. That’s where the experiences are going to delight.”  

Meghan Stabler

 

SaaS platforms are the perfect tool for B2B companies to go direct-to-consumer. A platform like BigCommerce can help implement a wide array of feature sets.

Nationwide distributor The Binding Source launched a direct-to-consumer eCommerce operation on BigCommerce and saw the difference within a month, with conversion rate boosts of 170% and a boost to their transaction volume of 33%. Utilizing the SaaS platform’s out-of-the-box B2B features, such as custom product filters and advanced shipping options, allowed the Binding Source to launch a feature-rich store that is still easy to maintain and customize.

 

“Redstage’s mission is to help create digital leaders in eCommerce across industries. We help manufacturers and distributors like The Binding Source sell more and give customers a better online shopping experience.” 

Christopher Yin

 

 

3. Virtual Photography

 

Virtual Photography eCommerce B2B

Visualizing products with multiple customization options can be tricky and expensive. Hours and hours of expensive photography and editing work can be saved by utilizing what’s being called Virtual Photography.

A Virtual Photographer can take a product rendering online and apply all the different customization options to it through CGI and 3D modeling. This saves the time and expense needed for major professional photography by allowing one product file to be customized in an endless amount of ways.

 

“Virtual photography is our ability to take all of those configurations, all of those 3D models, and actually render those out into photorealistic 2D imagery. We created 3 million images for Crate & Barrel in under a month without physical photography, but 3D modeling. So it’s just that amazing, sort of, high-fidelity visual that you can get at a massive scale.” 

Marc Uible

 

 

Virtual Photography Demo for

 

Customers have produced an 80% reduction in online returns and a 20% higher order value on average when Virtual Photography and 3D models are utilized. Why?

In apparel and furniture type applications, textures and fabrics are extremely important in helping customers understand and gain confidence in your product. These photo-realistic 3D models can represent the products more precisely than simple 2D images, thus ensuring customers understand the product they’re getting. 

 

 

4. Augmented Reality for B2B and B2C

 

In Home Retail Augmented Reality

 

3D and photo-realistic models aren’t the only implementations into your product pages that can upgrade your shopping experience. Utilizing Augmented Reality to allow customers to place and view your products in their homes is crucial in a post-COVID eCommerce world. Shoppers in today’s ecosystem are raving about AR, especially in fashion, consumer goods, and even trading cards? The numbers speak for themselves:

 

  • 61% of shoppers said they’d prefer to shop at stores that offer AR 
  • 71% of shoppers would shop at a retailer more often if they offered AR
  • 40% of shoppers said they’d be willing to pay more for a product if they could experience it in AR 

 

Taking 3D models further with Augmented Reality is a powerful way to ensure customers can see the products on them or in their space, like furniture or fashionwear, limiting returns and refunds and increasing customer retention. Retailers have reported that customers who used AR on their sites were 11x more likely to purchase than customers who did not.

 

“The current value of the AR market right now stands at $3.5 billion and is forecast to hit $70 to $75 billion by 2023. Especially AR, in this post-COVID world, has the unique ability to engage your customers like never before. Customers can now virtually experience the look and feel of a product that traditional photographs just can’t match, and differentiates from competitors leaning on photos.”

Christopher Yin

 

In the B2B space, manufacturers and distributors are implementing AR features online and wearables offline to massively increase productivity and efficiency in warehouses. Companies like DHL and and General Electric Renewables are implementing AR overlays on assembly lines and in fulfillment centers. They’re seeing huge boosts, like a 34% improvement in assembly time and a 25% increase in efficiency after implementation.

 

B2B AR Planning

 

AR can also be used to share product proofs and machinery details more quickly and easily to buyers and decision-makers at client companies. If you need consistent feedback from prospects, sending them AR proofs in the form of QR codes makes getting revisions and confirmation from multiple parties faster and gives them all the confidence to close on the decision.

 

 

“What we’ve seen is even when you’re buying a super complex piece of machinery, a QR code to that exact piece of machinery can be sent to your decision-makers and throughout an organization to get threaded into that organization. People see something in AR and say ‘Wow, I can actually see this million-dollar machine in my space, and it works!’ It really drives engagement and confidence in your buyers.” 

Marc Uible

 

 

What to do now…

 

These four commerce upgrading technologies are changing the way customers are experiencing products online. The more confidence your customers have in your products the more likely they are to buy and continue to buy. It is 5x cheaper to retain a customer than it is to gain a new one and providing the best shopping experiences is the number 1 way to retain customers. How do you provide today’s buyers with stunning shopping experiences? Allow them to experience your products in new ways!

 

3D models, Virtual Photography, Augmented Reality and open SaaS platforms are changing eCommerce just as COVID is, and the trends are continuously moving further and further, so don’t get left behind! If you’re stuck, contact an eCommerce consultant today and receive a free 1-on-1 demo of our 3D model and Augmented Reality capabilities.

 

You can view the video recording of our interview with Meghan, Marc, and Christopher here, with live demos and insights from Tony Lopez, Solutions Engineer at Threekit. Contact Redstage here to get a demo of any of the technologies mentioned above.

 

Subscribe to our newsletter to ensure you never miss B2B eCommerce insights, trends, and new technology from our team. Don’t forget to follow us on Twitter, Linkedin, Instagram, and Facebook too!

8 B2B eCommerce Resources You Need To Bookmark Now

8 B2B eCommerce Resources You Need To Bookmark Now

by | Sep 28, 2020 | System Integrations, UX/UI Design

“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.”Jeff Bezos, Amazon

eCommerce juggernaut Jeff Bezos knows the importance of the customer experience better than anyone. How does Amazon continue to innovate in this area year over year and lead the pack? For one thing, Amazon acts quickly to move on to new trends in buyer habits. For B2B eCommerce companies, being late to the party means losing authority and customers to competitors.

 

The most pressing questions we get from clients and partners are: How can B2B companies differentiate themselves from the competition? How do these companies attract and retain customers? What trends in the industry should we be aware of and take advantage of? If you share these concerns, look no further!

From eCommerce features that make revenue explode to areas B2Bs are investing for the year ahead, we’ve compiled our top tips and insights from 2020 in our latest B2B Round-Up! Take a look.

 

5 Must-Have B2B eCommerce Features of 2020

 

must have b2b eCommerce features

 

“According to TrustRadius, 45% of the B2B buyer demographic is 25-34 years old. This makes them the single largest demographic of B2B buyers today. But what does this mean for you, the B2B seller?

As buyers grow more accustomed to better customer experiences provided by top eCommerce platforms, there’s a growing number of features this new generation of B2B buyers has come to demand from their suppliers. In order to grow your sales pipeline, retain, and attract these buyers you should seriously consider these 5 must-have B2B eCommerce features.” — Read More Here

 

10 On-Site Search Practices to Boost Your B2B eCommerce Business

 

 

“As far back as 2014, 60% of B2B buyers said an on-site search was one of their top three features, with a further 48% of B2B sellers citing enhanced search as a top technology priority. Shoppers who interact with on-site search are typically 216% more likely to convert and generate up to 14% of all revenue. Make sure you’re paying close attention to the way your B2B operation caters to this profitable segment.

This guide will walk you through 10 ways enhanced on-site search can be used to help B2B retailers earn outstanding ROI.” — Get The Full Guide Here

 

7 Ways B2Bs are Investing In Digital During the COVID-19 Crisis

 

 

“While stock market experts work to price in risk, today’s largest retailers, wholesalers, and distributors are doing the same. What are the risks of doing nothing while we ride out the COVID-19 storm? Where and how can enterprise companies re-focus their efforts to guarantee growth once this is all over?

From remote-teams to supply chain automation and even augmented reality, the value of digital enablement has never been more apparent. In fact, only 12% of B2B companies are taking a “wait-and-see” approach to eCommerce as COVID-19 plays out. Here’s what the other 88% are doing today to ensure success down the line…” — View This Report Online Here

 

How to Stay Competitive in the Shifting B2B eCommerce Landscape

 

how to stay competitive in the shifting b2b eCommerce landscape

 

“B2B eCommerce sales are growing 7X faster than any other electronic channel. Yet, only 73% of B2B sellers sell through eCommerce or online marketplace portals today…

What does this all mean? It means there’s still some room for companies to begin their digital transformation, adopt eCommerce, or build industry-specific online marketplaces… B2B’s digital leaders in eCommerce are vastly outperforming their competitors. Digital B2B leaders who adopted online buying opportunities have reported up to 5x revenue growth, 8x operating profit growth, and up to double their return on shareholder growth.” — Find Out More Here

 

3 eCommerce Technologies B2B Sellers Need

 

3 b2b technologies sellers need

 

“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.

These 3 new eCommerce technologies help B2B companies boost sales and improve shopping experiences…” — Learn more about all 3 technologies here.

 

2020 B2B Industry Trends: Marketplace, Customer, and Business IT Insights

 

2020 b2b trends webinar

 

In a webinar hosted by CEO Adam Morris, he helps B2B Digital Leaders determine the new buyer personas they must tend to in the shifting B2B eCommerce market. Also, he demonstrates the newest trends threatening to disrupt B2B companies in 2020 and beyond.

Learn more about how to tend to millennial buyers, how B2B marketplaces are taking over, and insights from real merchants on centralizing and decentralizing data. This webinar is a can’t miss opportunity for growth. — Watch this Insightful Webinar Here

 

2020’s Biggest Threat to B2B Companies

 

 

“In manufacturing and distribution, digital is no longer a nice-to-have, but an absolute necessity to stay competitive. In a digitally optimized organization, front-end customer experiences can connect seamlessly with back-office operations. This produces an extremely fast and efficient business environment that customers prefer. A ‘wait and see’ approach is no longer a viable option. It’s an invitation to customers to abandon ship, and an invitation for the competition to outpace you.”

With insights into the biggest B2B verticals from experts with real-life experience, learn more about how doing nothing to enhance your digital capabilities during the Covid-19 pandemic is the biggest threat to B2B companies in 2020. — View the Report Here.

 

39 Genius Ways Manufacturers and Distributors Can Supercharge Their 2020 Pipeline

 

digital sales enablement guide eCommerce b2b

 

In this huge and in-depth sales guide, we’ve outlined 39 easy and genius ways B2B companies can enable their sales teams with digital back-end processes that better serve their customers and make their sales teams’ job much easier.

“A report published by Forrester in 2015 titled “Death of A (B2B) Salesman” justifies its title with a few key statistics. Forrester’s data illustrates a growing trend wherein 59% of B2B buyers prefer to research potential suppliers online, rather than talk directly to a sales rep. Most buyers prefer not to interact with sales reps because they believe salespeople focus primarily on the sale itself (and the commission), rather than providing value and a solution to problems customers face.” Learn how you can use automation and data to supercharge your sales pipelines in 2020. —Get the Full Guide Here.

 

Final thoughts

 

Throughout 2020 and beyond, Redstage is helping B2B companies become digital leaders in their industries. How? With automation, optimization, customization, and elite B2B eCommerce feature sets. If you’re not matching up to new standards, and not looking for the next big trend to elevate your eCommerce initiatives, you’re already behind on the times.

 

Here’s the fastest way to get your own eCommerce channel up and running: Redstage’s B2B Accelerator

2800+ Magento 1 merchants were left open to a massive cyber-attack in September that compromised the data of thousands of customers. If B2B merchant’s biggest drawback for migrating off Magento 1, or simply getting onto Magento 2, is time and cost, then let Redstage help. Read more here about the robust feature set included in our B2B Accelerator Suite, as well as look at the responsive and optimized theme. Contact us today to get started now.

 

 

Subscribe to our newsletter to ensure you never miss B2B eCommerce insights from our team. Don’t forget to follow us on Twitter, Linkedin, Instagram, and Facebook too!

5 Must-Have B2B eCommerce Features for 2021

5 Must-Have B2B eCommerce Features for 2021

by | Sep 10, 2020 | System Integrations

In the past few years, B2B companies across industries have been adopting eCommerce as the main channel for selling products. B2B eCommerce alone accounts for $1 Trillion in sales today and continues to grow. According to TrustRadius, 45% of the B2B buyer demographic is 25-34 years old, making them the single largest demographic of B2B buyers today. But what does this mean for you, the B2B seller?

As buyers grow more accustomed to better customer experiences provided by top eCommerce platforms, there a growing number of features this new generation of buyers has come to demand from their suppliers. In order to grow your sales pipeline, retain, and attract these buyers you should seriously consider these 5 must-have B2B eCommerce features.

 

B2B eCommerce Features Your Store Needs

 

1. Advanced Site Search

 

site search

 

Advanced on-site search is crucial for making sure your customers can find exactly the products they need quickly and easily. Typically, B2B products have a lot of specific parameters, (weight, length, height, size, shape, etc.), make searches easy by allowing customers to search by these parameters or SKU numbers.

“We’ve seen the conversion rate of users who search be 6-8x that of visitors that don’t use search,” says Redstage CEO Adam Morris. “Utilizing search shows intent and having a powerful search is crucial to capturing high converting customers. If a user can’t find the exact product they’re looking for due to slow, out-of-the-box, and not customized for market searches, you will lose the sale.”

A powerful advanced on-site search can make all the difference. Smart search features reduce the likelihood of expensive returns, refunds, and abandoned carts. In Klevu’s new report, they found that shoppers who interact with on-site search are 216% more likely to convert. This group also accounts for 14% of all revenue. For these reasons, it’s critical to provide the best search experience possible. Don’t let a sub-part search experience keep you from unlocking guaranteed sales. See the rest of the report here.

 

 

“We’ve seen the conversion rate of users who search be 6-8x that of visitors that don’t use search” – Redstage CEO Adam Morris

 

 

2. Custom Product Filters

 

product filters

 

Giving your customers the ability to filter by different product parameters allows them to quickly find what they’re looking for on the category page. Custom product filters allow merchants to display more information about a product’s qualities or attributes and allow customers to more easily refine product searches.

AI-driven dynamic filters on your category pages can automatically display the most relevant attributes to customers, making the buying process even easier. Adding images in product filters can make the process even faster and remove another chunk of friction from the process.

One of our Redstage’s platform expert Solution Engineers, Aidan McKnight, had this to say, “If evaluating an eCommerce system, consider what options are available for custom product filters. Does the platform natively support this? Does the native search work well with custom filters? Are there third-party options available? Choose a system that meets your unique requirements or that can be built-to-suit if required.”

These can make all the difference between your customers finding the exact product they need or abandoning your site for a competitor.

 

3. Customer Segmentation Groups and Profiles

 

b2b customer profile

 

Segmenting different buyers into customer groups allows you to create profiles for certain kinds of buyers. This allows you to ensure different customers get the right pricing, see the products most relevant to them. It also enables you to utilize upselling and recommendations to increase average order value (AOV). Keeping your customer groups in mind when setting up site search and custom filters is key to helping the right customers see the right filters and results.

Using segmentation, separate customers into categories by company size, company needs, and industry. This can help you provide another layer of personalization and more value to different kinds of customers. A report done by Econsultancy and IBM Watson Marketing showed that customer segmentation is a top priority to 72% of executives in B2B marketing and eCommerce. If you are not part of that figure, it’s likely your competitors are.

“Successful B2B eCommerce includes considering customers individually and as groups.” says McKnight. “Consider setting aside time to evaluate your current Customer Group/Segmentation strategy and review the data of both customer groups and individual customers. Segmenting your customers is an opportunity to drive additional revenue through your eCommerce platform and provide your marketing team with valuable insight into customer behavior.”

 

4. Advanced Shipping Options

 

advanced shipping options

 

Some B2B buyers want fast shipping, even if it’s not cheap. At the same time, others want shipping to be as cost-effective as possible, no matter how long it may take. Keeping customer groups in mind, B2B sellers must provide advanced shipping options for all their buyers and serve their individual needs. Many B2B companies have complex shipping needs, like delivery to multiple locations or drop-shipping from different warehouses to keep inventory down.

Utilizing fulfillment software, such as ShipperHQ, can increase productivity and decrease headaches. The right shipping software can help build a shipping strategy that aligns with your business goals and these customer demands. Provide automatic checkout that considers what they’re ordering, how frequently, and how much volume every time to increase reorder rates. And provide order tracking and tailored shipping rates to customers with discounts and other arrangements automatically, all within one system.

 

5. Product Information Management software

product information management

 

Due to complex product catalogs and new buyer habits, it can be difficult for online merchants to keep product information updated and consistent across multiple selling channels or sites. Think about how complex information gets across Amazon listings, Walmart, local retailers, and DTC channels. A product information management solution (PIM) can help. These solutions provide a single dashboard to collect, manage, and enrich your product information. 

PIMs save you money by lowering product enrichment costs up to 5 times. They can also reduce returns by as much as 40%, and increase conversion rate by more than 400%, according to Akeneo. Imagine what you could do by empowering your team with a PIM, allowing them to update or change product info in one place and automatically update it wherever it appears on the web? The ability to update product attributes on the fly will only strengthen the power of custom filters and your advanced search. Altogether, these features can pack a punch and give you a serious edge over the competition.

 

Why You Need To Implement Now

 

B2B distributor The Binding Source saw huge gains after optimizing their B2B buying experience with the features mentioned above. They implemented strong custom product filters on their category pages, integrated ShipperHQ for advanced shipping options and optimizing fulfillment, and built customer profiles and groups to segment buyers for custom pricing and product rules. The result? Within 1 month of launching these new features, The Binding Source conversion rate skyrocket 170% and saw transactions grow 33%!

These B2B features aren’t simply “nice to have,” they’re must-haves. The stats speak for themselves. If your B2B eCommerce site doesn’t have all the features the new generation of buyers are expecting, they’ll find a competitor of yours that does. Contact Redstage to implement one or more of these features today!

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How to Stay Competitive In The Shifting B2B eCommerce Landscape

How to Stay Competitive In The Shifting B2B eCommerce Landscape

by | Jul 8, 2020 | Commerce Strategy, System Integrations

eCommerce and digital transformation are taking over the B2B industry at a rapid pace. Prior to COVID-19, 2020 was already looking like the biggest year in B2B sales by dollar value, operating at twice the size of the B2C market at $6.7 Trillion. Why are things changing so quickly, and what steps can you take to make sure you aren’t left behind?

 

Buyer Demographics

millennial eCommerce

A big part of this overall macroeconomic force is the changing demographics of B2B buyers. The B2B landscape is changing dramatically as Millennials take hold of most buying responsibilities in B2B and distribution to B2C firms. Unknown to most, millennials are already the largest generation in the workforce. By 2025, millennials will account for 75% of the workforce worldwide. This is a generation of digitally connected, technologically dependent, and software-savvy workers.

What does this mean for B2B companies? Right now, more than 46% of all B2B purchases are made by millennials. For millennials, the convenience and ease of digital buying experiences are more important than other factors impacting their choice to buy. In fact, 69% of millennials say that the ease of doing business is why they choose the companies that they work with. For more than two-thirds of the customers you attempt to sell to, your online portal or buying experience is the most important aspect of your business for retaining them.

 

“Millenials don’t want to have a conversation with a sales rep, they want to have a conversation with your website.” – Adam Morris, Redstage CEO

 

How Amazon’s Marketplace is Hurting B2B Business

b2b business

Pre-COVID, Amazon Business was projected by Bank of America to take 10% of the US market for B2B. With eCommerce and online sales booming during the crisis (up 25% industry-wide since March), Amazon’s dominant market share has only grown. How can Amazon’s push into the B2B eCommerce market hurt your business?

As the market expands, customers without brand loyalty will shop on the Amazon Marketplace for things like materials, parts, and even industrial chemicals. Customers will see your products alongside your competition, where the only comparable attributes are price and quantity. Without your differentiation and product knowledge, you are losing a large number of sales to competitors.

Many industry leaders are trying to get ahead of this trend. Honeywell established the Honeywell Marketplace for aerospace parts companies, and in an industry dominated by brand loyalty and trust, it’s almost impossible to get buyers to see your products if you aren’t on Honeywell’s trusted marketplace. This has given Honeywell a major advantage in the market in terms of industry leadership, as well as increasing revenue by being a “middle man” of sorts in the industry. However, it may hurt smaller distributors who are competing for sales with every one of their competitors also on the marketplace.

In another industry vertical, DMEhub partnered with Redstage to build a buyer and seller portal for durable medical equipment. The new site connected physicians and other medical practitioners with medical equipment suppliers directly, allowing consumers to get their medical equipment from an online marketplace with direct access to their prescriptions. This majorly cut down the timeline for accepting these orders, as well as greatly improving the security of highly sensitive medical data in the backend of the site. Learn more about the project here.

 

What can you do to get ahead of your competition?

b2b eCommerce

B2B eCommerce sales are growing 7X faster than any other electronic channel. Yet, only 73% of B2B sellers sell through eCommerce or online marketplace portals today. While that may seem fairly low, keep in mind that 86% of US-based B2B companies with over $500 million in annual revenue have already implemented these solutions.

What does this all mean? It means there’s still some room for companies to begin their digital transformation, adopt eCommerce, or build industry-specific online marketplaces. However, we’re starting to get to a point in this journey where executives have already thought through these strategies and have implemented or are implementing them. If you continue to hold off on digital transformation projects, your competition will start looking at you through their rearview mirror.

According to a study by McKinsey, B2B’s digital leaders in eCommerce are vastly outperforming their competitors. Digital B2B leaders who adopted online buying opportunities have reported up to 5x revenue growth, 8x operating profit growth, and up to double their return on shareholder growth. The value of showcasing your products to your customers, highlighting key product attributes, and allowing those customers to buy from you quickly how they want to, is extremely self-evident.

 

Final thoughts

As B2B online marketplaces and buying portals become more and more commonplace, the room to differentiate yourself is growing scarce. Don’t get left behind the pack by waiting to innovate, the time to utilize eCommerce platforms is now. Check out how we helped Zwilling Beauty Group boost their revenue year over year by 87% by tapping into the power of Magento Commerce Cloud here.

If you’d like to know more about how to implement these solutions or have any other technology questions, contact us here.

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