In the B2B e-commerce landscape, competition only gets tougher with the times. Especially with today’s B2B buyer using the internet to make informed purchase decisions, the sales funnel must leverage technology too. Perhaps what sets apart successful players from everyone else is the presence of a powerful sales channel.
Thanks to the internet, B2B selling channels have transformed from physical to digital. According to Forrester Research, over 70% of the buying process is done even before the buyer contacts the supplier. The web plays a large role in buying decisions, with 90% of B2B buyers utilizing online search engines for their research.
This means B2B players must embrace digital transformation throughout their sales and marketing channels. Let’s take a look at how you can develop a powerful sales channel for your B2B business.
The Right CRM Tool
Success in the B2B market is based on good, long-term personal relations with customers. The right CRM tool makes managing customer interactions considerably easier. Because of these simplified procedures, your organization is well-equipped to meet the perpetually growing demands of the customers. It is important to effectively use your e-commerce portal to help bring in repeat sales which are key to the subsistence of a B2B concern.
A shoddily designed website is bound to have a lower conversion rate than a well-designed one. Website design doesn’t solely refer to the aesthetics of the platform but also the convenience and detail. Customers should be able to access the data they want easily and shouldn’t require assistance in their online ordering process. An aesthetically pleasing design is a plus and might earn you some brownie points with the customers.
Customers expect a high level of personalization on their online portal, similar to a B2C platform. Tailored pricing quotes, order history, and guided selling are just a handful of features that are in demand. The entire customer journey needs to be pre-planned and it should be simplified and customized to the maximum possible extent. Integrations in the processes of billing, payment, and order are required to personalize the journey and build a loyal customer base.
Monitoring and Rectification
There are several Key Performance Indicators (KPIs) which help you monitor the position of your organization. It is essential to check these indicators regularly and follow up on any issues that arise in the sales process. These indicators include conversion rate, bounce rate, cart abandonment, etc. You can pinpoint the area of the customer journey where difficulties arise and work towards improving them.
Emphasis on building a sales channel is important in the comprehensive e-commerce strategy of your business to ensure that you don’t get left behind in this dynamic market. Because your buyers have already moved to digital channels, it’s imperative that your sales processes do, too.