Tips for your business to thrive in a world of B2B consumerization
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With the demand for instant results growing with each passing day, your organization’s success hinges on your responsiveness and prompt order delivery. One of the greatest misconceptions about B2B purchases is the notion that customers want to haggle over pricing.
In reality, nearly half of all purchases begin with a search conducted by busy millennials who simply want to place an order quickly; not waste time. Below are ten tips to help your business become more efficient and thrive in a world of B2B consumerization.
1. Be as accessible as possible
If your clients feel that you are readily available to lend support, they will be more likely to trust you and complete a purchase. Make sure that your clients can easily reach a representative of your company by phone, e-mail, or chat; and ensure that they can access your site and place an order at any time.
2. Make order placement simple
B2B purchasers crave convenience and speed when placing orders. For instance, you may wish to enable your clients the option place their orders directly from your website and remit payment afterward. Or, you may wish to accept orders through your client’s’ preferred mode of communication. Make it simple, and they will shop.
3. Understand your customer base
An important step to improving the bottom line of your B2B organization is to know the needs, demographics, and buying habits of your key clients. Additionally, you should establish and maintain a supportive relationship with your repeat clients, who together typically account for the majority of sales.
4. Anticipate and eliminate client frustrations
In spite of having access to more information than ever, B2B clients are increasingly overwhelmed and often end up taking far longer to make a purchasing decision. By guiding your clients in the decision-making process, you can help eliminate frustrations.
5. Track your customer purchasing patterns
By tracking your clients’ purchasing patterns, you can adjust your forecasting and inventory accordingly. The end result is fewer backorders and order delays. You can also keep track of key purchasing trends and hot products. And, it can be done easily online through web analytics tools or even your digital commerce platform.
6. Always be prepared for peak seasons
Most industries have one or more peak seasons during the year. Failure to adequately prepare for spikes in sales can leave you unable to meet the needs of your key clients. Repeated disappointments may send your clients running to your competition. Therefore, value the tip we gave in the previous topic: if you know the habits and buying patterns of your customers, you will also know when the highest demand peaks occur.
7. Make it easy for customers to track their purchasing history online
B2B clients lead busy lives and they appreciate the ability to quickly retrieve their order history. Consider updating your website or client portal if you do not already have a way for your clients to easily access their purchasing data. Also remember to offer an easy-to-use quick re-order capability.
8. Make speed a top priority
B2B buyers rank speed as their most important purchasing factor. Not only online store performance, but specifically, next day delivery is critical for many buyers. By simply filling orders on time and meeting your clients’ delivery deadlines, you can earn repeat business from your clients. And, above all, having the right technology is the foundation for making this a reality.
9. Make sure all costs are clearly outlined
Frustration and dissatisfaction will arise if your clients are hit with surprise costs. Examples include periodic price increases, higher shipping costs, and new add-on fees. All costs should be effectively and efficiently calculated at checkout, which is the best way to align expectations with clear communication, enabling you to offer the best customer service.
10. Launch a targeted marketing initiative
Avoid making the mistake of using the same advertising campaign with all of your customers. By personalizing your marketing initiatives to reflect the specific needs of your top B2B clients, you will increase your sales.
Bonus tip: Enlist the support of an industry professional
The best way to create a pleasant purchasing experience for your B2B clients is to seek the guidance of an expert in digital commerce quality improvement. With the help of an industry expert, you can delight your B2B clients and create a competitive advantage for your business.