eCommerce B2B payment isn’t complicated, you’re just doing it wrong
The critical parts to success are not only marketing or operation but also convenient and transparent eCommerce B2B payment. As the last stage of buying online, this step plays an integral role in finishing customer orders and deciding all the previous steps. Therefore, we are here today to give you some tips to enhance your eCommerce B2B payment and avoid popular mistakes. Steps To Enhance eCommerce B2B Payment Adopt Automation As you know, different customer segmentation requires different payment processes. Therefore, to offer the customer their needed payment procedure, eCommerce businesses need to utilize automation to segment customers into different groups and allow them to access suitable payment gates. Besides, automation can go along with customer paying procedures, to notify B2B sales of payment status. If you are running eCommerce stores on BigCommerce, Shopify, or Magento, Atom8 is a great option. Therefore, you can maximize the conversion rate, and ensure customers can feasibly finish their bills. Add More Payment Options The larger your eCommerce is, the more B2B customers you need to serve. Each buyer may have their own preferred payment options; therefore, to help them proceed with eCommerce B2B payment more smoothly, your store should offer a variety of payment options. Adding more payment methods not only helps customers feel more convenient but also increases the conversion rate for selling activities. There are two main types of payment methods: traditional B2B and digital payment. While adopting traditional B2B payment options is effortless, getting started with digital B2B payment is quite challenging. Therefore, eCommerce businesses may need some consultancy from specialists in this field, to easily add those measures into your stores. Shorten Payment Process Long-lasting payment processes may make buyers become impatient and abandon their carts. Therefore, eCommerce B2B payments need to be short, convenient, and simple. Instead of forcing purchasers to switch among different pages, stores only need to display payment steps on one page, usually the same page as the checkout step. Moreover, filling in too much information can be time-consuming and tedious. While customer information is valuable data for further engagement, filling it should be optional to help customers reduce useless time on payment processes. Enable Cross-border Settlement eCommerce is gradually expanding, and the need for cross-border transactions between businesses is rising. Therefore, your eCommerce B2B payment should provide suitable features for cross-border settlement. Moreover, foreign exchanges may cost a higher transaction fee for traders, so eCommerce companies should try to cut down on that fee to encourage international payment, which can positively contribute to company growth. Conclusion With our suggestions, we hope you will no longer face difficulties in operating eCommerce B2B payments. Moreover, if you need a tool to automate this step, try Atom8 for over-expected results.
Is autonomous ecommerce safe for customer fulfillment?
Aiming to boost productivity and satisfy customer requirements, autonomous eCommerce can benefit your business in different stages, including order fulfillment, inventory management, or general operation. Due to inappropriate adopting approaches, some companies have suffered from adverse effects of these innovative techniques. Therefore, our article will list notable benefits of autonomous eCommerce to help you apply it to your store. What Makes Autonomous Ecommerce Needed For Your Business? Meet The Speed Requirement Spending time waiting for delivery or restocking could be a nightmare for many customers. Therefore, businesses need to apply autonomous eCommerce to reduce lead time or shorten order fulfillment processes. Depending on each industry, there is a desirable duration for those processes, which will make your customers satisfied. If you are selling different products, you may need to pay attention to the average fulfillment days. For instance, beauty or food and grocery products require efficient fulfillment within one day. Meanwhile, other products like electronic devices or home decor can be shipped in less than two days. Sellers can utilize automation to classify product lines and customer needs to ensure on-schedule fulfillment. Handle Multi Selling Channels If you are managing different selling channels you may need an autonomous eCommerce application. Some automation software today has the strong ability to integrate with different tools and allow the manager to stay focused in one place and navigate all the good flows. Moreover, those workflows are not totally robotic as employees can still receive real-time notifications and thus make changes and updates in order to respond to arising problems and ensure expected outcomes. Analyze Selling Performance Some autonomous eCommerce applications also can generate an analysis of inventory management, distributing performance, and selling activities which can be fundamental for the store runners to evaluate the operation and forecast upcoming statistics for a better plan. If you are a current automation tool that cannot do essential analysis, you should integrate it with a calculation tool to produce meaningful results or visualize performance in form of a table, graph, or dashboard. Moreover, those numbers and figures also contribute to powerful marketing or other strategies, giving businesses more chances to grow. Resolve last-mile Obstacles Retailers are the ones who are in charge of shipping orders to customers’ doors. Therefore, they usually face difficulties in peak seasons when delivery is usually delayed and cost a higher shipping price. If you offer cash on delivery method, you may need to carefully keep track of the delivery to avoid order refuse when the shipment arrives. Autonomous eCommerce tools can provide both retailers and end-customers with visualized processes of shipping, and also notify them whenever the shipment turns to a new place. Therefore, retailers can plan for uncertainty of the late delivery and have suitable approaches to deal with it. Conclusion It is undeniable that autonomous eCommerce can put e-commerce activity at ease. If you still have some concerns, you can contact us to get more suitable advice and solutions for your stores.
