A Quick Guide To B2B Ecommerce
Nowadays, B2B eCommerce has become really prevalent and more exploded in this pandemic context. Moreover, this form of e-commerce business has gained a huge amount of revenue, had a lot of customers and become a new playground for sellers. If you have an idea of establishing a B2B eCommerce business, this blog is truly for you. Getting Started To B2B Ecommerce B2B Ecommerce Definition B2B stands for Business to Business. B2B eCommerce describes the activities when businesses sell goods and services to other businesses online. B2B eCommerce remarks the selling relationship among enterprises with the more valuable transactions, lucrative market and thus it required more complicated work procedures and tight management. B2B Ecommerce Models There are three kinds of B2B eCommerce models. Firstly, it’s called Wholesale B2B when the companies sell to other businesses in bulk with wholesaling prices and allow other businesses to retail and make profits. Secondly, B2B2C allows a manufacturer to be in partnership with a B2C to sell products on its eCommerce stores. Finally, there is a really new model, which is called B2C2B. B2B Ecommerce Benefits Simplify Ordering Process The customers may no longer spend a lot of time scrolling down various product pages to find items as the detailed catalogue allows them to catch their products at a glance. This approach will open chances for customers to reach more product lines and feel easier to compare among various options. Purchasers can keep track of the order process, add information, make adjustments and keep in touch with suppliers via some software. Improve The Control Of Supply Chains As the connection between buyers and sellers becomes tighter, with the support of software, the B2B suppliers can control the supply chains better. They can follow the inventory status to make plans for restocking. The sellers will be notified about customers’ expectations and behaviours; then, they will try to improve the products and services. B2B Ecommerce Tips Enhance Buying Experience To meet the specific demands of customers, you may need to equip an application that can track customers’ behaviours and group them into suitable segmentation. Then, you can generate personalized content for each group to enhance the customer experience. Moreover, collecting and showing customers’ feedback is also a way to increase customers’ trust and motivation as they tend to believe in former buyers’ opinions before making decisions to buy your products. Also, updating your website performance such as shortening loading times, debugging, improving web security also contributes to your customers’ experience. Optimize Your Customer Catalog A convenient and smart customer catalogue plays a decisive role in B2B eCommerce development. The fulfilled information must be displayed on the catalog that the customers will have a complete look at product characteristics, product rate, inventory status, etc. Moreover, the product recommendation needs to stick to each segmentation and buying history. Also, you need to enhance your catalogue’s search engine to help customers find their expected items as soon as possible. Improve Inventory Management B2B eCommerce usually deals with bulk orders so that the inventory status must be updated frequently via software for the sellers to make immediate replenishment. However, the out-stock-of status during peak season seems inevitable, that’s why the B2B sellers need another solution. If you use the Bigcommerce platform, BackOrder will be your best right option as it can allow your customers to buy items although they are unavailable. The purchasing is automatically in the form of backorders and to do that, you only need to pre-set all the products as BackOrder before. Don’t forget to discover BackOrder: The app allows your customers to purchase even with 0 inventory Conclusion Are you ready to start your B2B eCommerce business right now? We hope that you can start your business from today and gain certain achievements with our guides above!
Top 5 discount pricing strategies for BigCommerce stores
For sure that any eCommerce merchants are used to offering discounts for customers, to make them go straight to purchase. What optimal discounting tactics does your BigCommerce store apply to attract customers? Is it effective to increase your sales significantly? Here we will list for you some best practices to help you get the right BigCommerce discount strategies. However, this is just for reference, a frequent and big discount might cut your profit margins and harm your brand. So don’t take much of it! The 5 discount BigCommerce discount strategies for BigCommerce merchants 1. New shopper referral discount Finding a reliable customer acquisition channel, or bringing in new consumers is one of the most stressful aspects of any business. Appreciating current customers to suggest new buyers not only lowers the referral costs but also boosts customer retention. Customers would happily refer you to others if your company provides great items and services. Start giving incentives to those. In this way, you can get both new and repeat customers! In addition, you can conduct an affiliate program, perhaps with large brands or influencers to give their audience special deals. When selecting an affiliate program, bear in mind where your target audience spends most of their time. For example, does your buyer persona read blog articles, scroll Facebook, or utilize search engines to find new products? Simply known, you pay affiliates a commission when they bring traffic to your website. Perhaps giving them a discount code or referring a link to your BigCommerce website and receive a commission under certain agreements. The agreement is usually based on the number of people visiting the website or purchasing a product on the web, or taking some other action on your website. 2. Abandoned cart voucher According to SaleCycle, 77% of eCommerce carts are abandoned! It’s true that consumers add items to their shopping carts with the intention of purchasing them, only to abandon them later owing to a variety of reasons. As a result, giving discounts to customers who have abandoned carts may entice them to make a purchase. Offering discounts or coupons is one of the most effective strategies to recover from an abandoned cart. Recent Klaviyo survey reports that firms who use cart recovery emails recover 3–14% of lost purchases, with an average revenue per receiver of $5.81. So it’s worth offering promotional deals for your customers who left abandoned carts. Compose a compelling email and send it to them. 3. Loyal customers discount The customers who are loyal to your store are the ones who bring proper parts of your revenue. Offer them a promotion. Discount offers are a practical way for customers to say thank you for being with your store. Remember that, it costs 10 times more to acquire a new customer than to sell to an existing customer. By segmenting your customers, you can distinguish the customers who bring you high profit and offer them attractive discounts to reward their loyalty. On BigCommerce store, Atom8’s workflow for customer segmentation looks like this: 4. Free shipping for orders above AOV The topic of free shipping has never decreased heat. We take a test that: Would your customers buy a total value of $100 to get free shipping than just buy $50 and spend 10 dollars shipping fee The answer is – most of them choose the first option. So, what are the advantages when you offer free shipping? Increase sales: Customers will feel happy when they wouldn’t have to pay any extra fees while buying goods. Expand average order values: According to Invesp, 93% of online buyers are more likely to purchase more items to fulfill the minimum threshold if there is free delivery. As a result, it increases in the average order value. Reduce cart abandonment rate: Customers will be less hesitant to proceed to payment if the delivery charge is lower. Free shipping is a powerful strategy to increase your sales. So don’t ignore this. 5. Seasonal discount Seasonal campaigns are an excellent way to organize your promotional calendar. Our minds normally go immediately to Black Friday or other times of the year when seasonal discounts are available. It’s no secret that the holidays bring in a significant portion of a retailer’s annual income. However, let’s forget that Black Friday discounts are all too familiar. Seasonal price reductions may do considerably more than merely increase sales. It may also benefit brand awareness, customer loyalty, and the development of a more stable cash flow during periods of low consumer demand. Seasons, holidays, and special occasions are ideal times of year to get rid of things that have been piling up in your warehouse and boost sales on items that have been underperforming. For example, offer a discount on lawnmowers from the previous season in September, and in March give a discount on snowblowers. Buyers who stock up on such items off-season can take advantage of the discounts, while the shop helps clear space in their warehouse for in-season goods. Along with offering discount, you will need a specific timeframe for it and put out discount at the right time. Once again we mention the great feature of Atom8, it can schedule the promotional campaign for you at the time you want: With the support of Atom8, your store will perform a significantly better business operation: Atom8 makes store management tasks effortless by automation. Final note If you do a proper BigCommerce discount, may help you launch unique events and drive sales. When discount pricing is done poorly, it can devalue your items in the eyes of your customers and educate them to wait for the next sale before buying from your BigCommerce website. So be careful and have a strategic plan!
