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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.

 

 

Update! The Mobile-First Holiday: Ecommerce Stats You Need To Know

Update! The Mobile-First Holiday: Ecommerce Stats You Need To Know

At this very moment, retail executives around the US are likely screaming about their Black Friday and Cyber Monday sales performance. For some, these sounds resemble a triumphant war chant, for others, these are the shrill cries of defeat. The reason? Mobile-first adoption.

No matter where you stand, this data changes the ecommerce landscape. Here are the latest stats and key trends from the long-weekend of holiday sales events. We will update this article as soon as new data is released, so make sure you subscribe to be the first to know!

Thanksgiving Takes an Extra Helping

On Thanksgiving day, as of 7:00am Pacific Time, U.S. consumers spent $406 million. By 2pm, Adobe announced that this number skyrocketed to a whopping $1.75 billion, representing a 23% increase over sales in the same time period in 2017. By the end of the day, Americans beat out last year’s sales for the day by a shocking 28%, resulting in a shocking 3.7 billion dollar Thanksgiving. Adobe initially projected a $3.1B bottom line for the holiday.

Mobile Wins Big

Here’s a quick breakdown of the major events in bite-size chunks:

Thanksgiving Day

“Mobile stole the show Thanksgiving Day with smartphones representing more than 50% of traffic to retail sites, as well as record amount of revenue,” Taylor Schreiner, Director of Adobe Digital Insights

Black Friday

$2.1 billion or 33.5% of sales came from smartphones this Black Friday. Another 10% of sales, or roughly $627 million, came from tablet users. All in all, the day yielded an impressive $6.2 billion, a 23.6% increase over 2018.

Cyber Monday Breaks The Internet

Here’s the big one. Cyber Monday sales shattered all previous records for online sales… in U.S. history.

“Cyber Monday [topped] $7.9 billion by the end of the day, making it the largest online shopping day of all time in the U.S. This represents a 19.7 percent increase year-over-year (YoY) as of 7:00 p.m. ET. In comparison, Thanksgiving Day and Black Friday brought in $3.7 billion (28 percent growth YoY) and $6.2 billion (23.6 percent growth YoY) in revenue, respectively.”BusinessWire

Here’s the share of devices (as of ~1:30pm ET November 27, 2018):

the mobile-first holiday ecommerce stats you need to know See more live stats at ExploreAdobe.com

7 Days of Spectacular Sales

Additionally, Adobe’s latest report notes that this November has seen 7 days where total sales broke the $2 billion mark (as of Nov. 28, 2018)… Thanks in no small part to the mobile sales spikes.

Omnichannel Adoption Drives Sales

The trend of “buy online, pick-up in-store (BOPIS)” continued, with the trend growing 50% during this past weekend over 2018. According to Adobe, this spells dollar signs for omnichannel merchants: “As the online and offline retail experience continues to blend, retailers with physical stores drove 28 percent higher conversions online.” While this trend helped retailers increase their share of online earnings, in-store sales lagged far behind.

It’s time to join the mobile-first movement. As Adam Morris, Redstage CEO notes, “Cusotmers are no longer expecting an in-store Black Friday and Cyber Monday, but instead, an omnichannel experience.” While many retailers successfully ramped up their omnichannel strategies for this holiday, the data shows this trend is here to stay, and more work is needed.

If you want to reduce mobile checkout friction before the holidays are over, contact us asap! To see the results we’ve achieved with our recently launched Magento Community Initiative, find the latest data here.

Final Thoughts

These extravagant stats spell success for an industry racing to close the mcommerce gap. It’s seems the industry is all-aboard the mobile-first customer experience wave. As Internet Retailing points out, retailers may have finally reached ‘always-on‘ mobile consumers. Now it looks like the key areas for improvement are streamlining mobile checkouts, and optimizing omnichannel experiences.

Update Nov. 28, 2018

Black Friday + Cyber Monday Stats You Need To Know

Here’s a breakdown of YOY holiday sales by device and region based on data collected by our partners at Nosto!

    • United States
      Desktop: 39% (2017) / 34% (2018)
      Mobile: 56% (2017) / 61% (2018)
      Tablet: 5% (2017) / 3% (2018)

 

    • United Kingdom
      Desktop: 47% (2017) / 40% (2018)
      Mobile: 42% (2017) / 48% (2018)
      Tablet: 11% (2017) / 12% (2018)

 

    • Northern Europe
      Desktop: 39% (2017) / 37% (2018)
      Mobile: 51% (2017) / 57% (2018)
      Tablet: 10% (2017) 6% (2018)

 

      • France
        Desktop: 69% (2017) / 67% (2018)
        Mobile: 19% (2017) / 22% (2018)
        Tablet: 12% (2017) / 11% (2018)

     

    • DACH
      Desktop: 40% (2017) / 53% (2018)
      Mobile: 42% (2017) / 39% (2018)
      Tablet: 8% (2017) / 8% (2018)

 

Update Nov. 29, 2018

PayPal Mobile Payments Get A $2B Holiday Boost

    • For the first time in PayPal history, mobile payment volume topped $1 billion, and did so on both Black Friday (November 23) and Cyber Monday (November 26). – PAYMNTS

 

    • Adobe reports U.S. shopping carts averaged $138.00 during Cyber Monday, a 6% bump over last year.

 

    • 49% of Black Friday traffic came from smartphones, driving 30% of online sales.

 

  • “In the [PYMNTS] Checkout Conversion Index report, the 30 merchants with the fastest, most streamlined online checkouts ranked well. Conversely, the 30 merchants with the lowest scores offer a widely inconsistent checkout experience…”

Update Nov. 30, 2018

Cyberweek 2018 Trends Report

Our partners at BigCommerce identified a few additional trends in their Cyberweek 2018 Trends Report. Key findings include:

      • While online stores continue to have the highest AOV for any sales channel, Facebook took second place, accounting for “70% of total GMV” for Fashion and Jewelry brands using the channel. Home and Garden brands selling on Facebook came in at 16% GMV.

     

    • “The Fashion & Jewelry and Toys & Games verticals saw the highest GMV increases over 2017.