Ultimate Guide for B2B Merchants

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Tips to Win B2B Buyers

If you are just starting off in the B2B space, you may be wondering how you should go about gaining a strong and loyal client base. It isn’t too different from attracting a B2C client, with some slight alterations unique to business transactions. The key to gaining customer loyalty is all in building a relationship based on trust. Your client wants to trust that they will be getting the products they were promised in the amount of time that was agreed upon. If you continue to provide reliability to your clients, they will trust you with their business needs….

Tips to Make the Most of Your B2B Consumer’s Online Experience

When getting started with B2B, you want to make sure that you have everything you need to thrive and succeed in this new space. Doing the proper research helps you to understand what those things are and how to implement them in the easiest and most cost efficient way. Studies show that there are four “must have” content groups for B2B sites that are necessary for retailers to succeed. These four features include pricing information, technical information, blog posts, and shipping information. Followed by client testimonials and product reviews, this list is extremely useful when figuring out what’s most important to include within your B2B site.

Another useful tip to remember is to conduct a regular product search audit on your site. Just log in as if you were an interested customer, and search for one of your products. Can you easily find it in your search results? Does the link for the product bring you to the correct page? Are the steps needed to follow through with the purchase clear and easily navigable? All of this should be done to make sure there are no broken links or errors present within your site, but it can also help you to come up with new innovations to help move a customer along to check out. By acting as if you are on the other end of this situation, you can better put yourself in the shoes of your customer and understand what it is the client wants.

Another important tip in succeeding is making sure that you have all of the extra content buyers look for before making a purchase clearly laid out on your site. These types of details include clear shipping and delivery policies, client testimonials, reliability metrics, the option for tracking, and other details about your products and services. The more information you can provide your potential clients with, the more likely they are to pursue and stick with your brand for their purchases. In a study done by UPS, the most appreciated detail provided to potential buyers by B2B merchants was the ability to know shipping costs before ordering which came in at 64% of voters. This was followed by the ability to see real-time product availability, ability to view purchase history, and the ability to see the delivery date when ordering- all at 63%. The ability to see product details and to make repeat orders also made the list- two very important aspects to the B2B buyers’ experience.

Tips for a Successful B2B Launch

Starting off with B2B ecommerce may seem like an extremely difficult and complex task. Whether you as a merchant have been in the B2C space, or are just starting off with ecommerce in general, making the move to B2B must be done in the proper way in order to achieve success. There are a few aspects of business that must be paid close attention to in order to avoid disorganization and ultimately failure. The first is something that should be done when making taking a big step in any aspect of business or life- and that is understanding your challenges. This goes for the general challenges of the B2B market as well as challenges specific to your business. Do your research- ask questions and see what aspects of business need improvement. Go through your current workflow plan and try to rid yourself of overly complicated or unnecessary processes which could waste time and efforts. You want to have everything laid out as simply and efficiently as you can when preparing for a big change in the way business is done.

Another way to keep things simple and start off slow is to start off your launch with with a smaller number of quality products, and then study the results. This will help you to see patterns and take note of where you are succeeding and where you are failing. It will also help you to learn the differences between B2B and B2C so that you can continue to grow in products number- and hopefully in sales. This type of preparation and organization will set you on the road to success for all future strategies in how you’d like your business to thrive.

Organization is key when making any kind of big transition, and making the move to B2B is no different. In order to prevent unnecessary stress or confusion, you must keep your data structured and organized. This goes for any data collected on potential customers as well as any info your have about products, orders, shipments, or anything else. Having all data in a place where it can be easily accessed and utilized will prevent confusion and disappointed customers. This type of organization includes having a system where you can keep a real time view of orders and inventory at all times. Keeping close track of orders coming in and out as well as how much physical inventory is available will ensure that when a customer’s order is confirmed, the products they need will be shipped to them in the appropriate amount of time.

Magento Marketplace Modules made Specifically for B2B Merchants

Magento is known for its B2B capabilities, and with B2B on the rise, this makes the platform a top choice for many merchants around the world. With stats reporting that the B2B online retail market will reach over a trillion dollars within the next three years, it has become increasingly important in the world of ecommerce for your online store to have B2B capabilities. Influenced by the success of Amazon Business, the B2B buyer demographic has been changed. The exponential growth of the B2B market can be attributed to many things, one being that the two industries responsible generating this growth are manufacturers and wholesalers. These are two industries which buy large quantities of products in bulk, therefore spending more money per transaction. The average order value of a B2B transaction is around $491 as opposed to B2C which is only $147. It is clear that getting into B2B sales will result is a greater profit than restricting yourself to B2C transactions.

So how do you ensure that you make that move over to B2B without putting the success of your business in jeopardy? With the right ecommerce platform, you will have access to an abundance of robust features and functionalities which will provide you with everything you need to succeed. While many B2B features are already built into the Magento platform, many merchants choose to go the extra mile and utilize extensions to better suit their needs. An example of these extensions can been seen in the B2B Optimization Suite by Web Solutions NYC. This suite is made of of multiple modules which work together to provide your customers with the best B2B experience.

The first of these is the Sub Accounts Module. It allows for the creation of sub accounts by your clients which will be greatly beneficial to the businesses ordering from you. These sub accounts are set with their own individualized permissions, allowing Master account users to decide what exactly their team members have access to. Users will have the ability to enable or disable access to quote requests, set purchase amount caps, and place orders from approved RFQs. Enabling business buyers to empower the internal team members cuts down on the time it takes for most senior employees to simply accept their work. The second half of this suite is the Request for Quote Module. This module ties in with the features of the sub accounts in order to make the ordering process quick and easy for all members of the buying team. Clients can request pricing quotes, and admins can approve, decline or modify the request in the customer-facing account menu.

How the Rise of Smartphones Effects your B2B Consumers

In this day and age, everyone uses their smart phones for just about everything. We have the world at our fingertips, and the value people have for speed and convenience comes before many other things. Online shopping is done via smart phone more and more, and with B2B looking a lot like B2C these days, it’s important to have the functionalities needed to provide B2B consumers with an optimal shopping experience. Many companies even provide smartphones or tablets to their employees to place orders, and every year, these buyers are becoming more dependent on these devices. It’s expected that this trend will continue to flourish, and many B2B buyers will do a large percentage of their business from the comfort of their Android, iPhone or tablet.

In order to remain competitive and appeal to a larger base of customers, B2B retailers need to adapt to mobile-optimized technology, and make sure it is done efficiently. In order to compete with merchants such as Amazon, B2B retailers must create a functional, feature-rich mobile interface, without sacrificing speed and efficiency. Whether designing an app for your company or simply optimizing your website, allowing for all the functionality a customer would experience on a desktop computer is essential for your success. The ability for B2B consumers to make purchases with mobile devices, track orders, or contact customer support with the same ease as using a desktop interface is what successful mobile optimization looks like.

In addition, B2B consumers will need their own specialized features and functionality which would not apply to a B2C shopper. For example, B2B consumers would need the ability to submit purchase orders, receive automated recurring billing, and access special group pricing, among other things. With the right platform and agency behind you, creating this experience for buyers is not only possible, but easily achievable.

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How Magento is Providing Distributors with the Specialized Features Needed for B2B

Magento is known for many things, but some of the most appreciated capabilities of the platform are it’s B2B functionalities. Studies show that B2B sales are on the rise. Reaching almost 1 trillion dollars this year, total B2B sales are almost double the B2C market. It is predicted that popularity in Business to Business sales will only increase as time goes on, potentially reaching 6.7 trillion dollars globally. With this clear understanding of the power of B2B, why is it that some merchants are still not equipped with the features and functionalities needed to start their B2B ecommerce journey? Many believe that it is a difficult and messy task to begin implementing B2B functionality, but it does not have to be. With the right ecommerce platform, right features, and right agency to guide you in the right direction, your business will undoubtedly thrive in the B2B market.

For merchants already running on the Magento platform, almost a third have a B2B sales component. The market share for Magento B2B retailers is higher than its competitors and continues to grow each year. Well known and reputable brands look no further than Magento when in search of quality B2B functionality. This can be seen with examples such as 3M, General Electric, Canon, Rogue Fitness and P&G. With these brands among many more all existing in diverse industries, it can be seen that Magento can be used and customized to help a business in any vertical thrive. These key verticals include but are not limited to: Fashion-Apparel, Electronics, Medical Devices, Food, Home and Garden, Metals, Automotive, Healthcare, Pharmaceuticals, Nutraceuticals, Services, and Equipment Manufacturers. Operational efficiency can be achieved within all of these industries with the proper implementation and customization of the features and functionalities needed for a unique business.

Studies show that B2B executives have identified achieving operational efficiency and process improvement as one of the main goals for B2B online retailing. Magento recognizes these challenges, and therefore has features built in to manage multiple business accounts, set permissions and roles and create sub accounts with ease. In addition to this, Web Solutions NYC has also developed a custom module to add additional functionality to sub accounts. This extension enables an admin to provide sub accounts with specified price caps and permissions in order to keep things running smoothly when B2B orders are being made. Like all Magento features, this extension can also be customized to fit the specific needs of your business.

Current B2B Trends - What Merchants Need to Know

For B2B merchants, it’s important to stay ahead of your competition and ahead of the curve. The B2B market is booming, and there needs to be something which sets your business apart from the many other retailers out there who are targeting the same audience of buyers that you are. One way to do this is to observe the trends in today’s B2B world so that you can give buyers exactly what they’re looking for when they view your ecommerce site. Incorporating these trends into your B2B strategy will increase your competitive advantage and ultimately win the loyalty of B2B buyers looking for your product.

When it comes to user experience, B2B sellers are quickly developing a more clean and streamlined design for their sites. Many B2B buyers are used to being online shoppers in their own personal lives, and when they visit a website to make a purchase for their business, they bring those same expectations. Clear search functionality, customer reviews, expansive billing options, and social media integration are all things that B2B buyers expect from your site when they are looking to make a purchase. In order to compete in this ever growing market of B2B, your ecommerce site will need to be updated with easy to navigate web design and custom B2B features.

Another aspect of B2B that is in high demand by consumers is the option for flexible payment plans. Processing digital payments for business sales can be very tricky as B2B platforms open up a wide variety of payment forms. This includes purchasing via commercial cards, PayPal, invoicing, e-checks, physical checks, or purchase orders. Potential customers expect to be presented with these many options when accessing your site, and not having done so may result in the loss of a sale. If these options are not already built into your eCommerce platform, integrations and modules should be implemented to accept invoicing, purchase orders, automated recurring billing and other corporate billing options.

Common Obstacles for B2B Merchants and How to Overcome Them

Whether you are just starting out, or are a veteran of the B2B space, it’s always a good idea to take note of the obstacles which keep you from thriving further. As time goes on, things may be brushed aside to create time and space for other issues and innovations, but it is important to circle back to the basics and give attention to those original challenges. An important thing to remember no matter how long you’ve been in business is to never lose sight of your competitors. The B2B market is thriving and growing at an exponential rate. There will always be someone a few steps ahead of you whose ideas and features are pulling in more clients than you are. It’s important to pay close attention to these competitors and learn from them. What it is about their company or ecommerce site which seems to be satisfying consumers? By taking note of this information, you can hopefully improve your own business and rise above these competitors.

Another thing to avoid is the tendency for some ecommerce merchants to lose sight of the importance of omnichannel. If ecommerce is your main point of sale, it should of course be the focus. However, if you do also have a brick and mortar location, it’s important to educate sales reps and train them to advocate for your ecommerce site while in the store. Even if you are not a company with a brick and mortar location, the people on your sales team who market your business should also be well prepared to discuss your products and ecommerce presence thoroughly to potential buyers.

One of the most important aspects of your ecommerce site is the content and features present. Keep your website fresh and inviting by going beyond the traditional text and basic image content. You can incorporate other content types such as videos, blogs, and social media. In addition to the various content types, there should be a robust set of features available to help your buyers easily make orders and browse through your products. Lucking, certain ecommerce platforms such as Magento make it easy for B2B merchants to implement the unique features needed. Magento has many B2B features already built into the platform, but to add some extra functionality to your site, there are countless extensions available to easily integrate into your platform to improve user experience.

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B2B vs B2C- What Consumers Expect from their Online Experience

The B2B world and the world of ecommerce are blending together at an exponential rate, and the union of the two is only expected to grow from here. The B2B market is currently double what the B2C market is, and because of this, many online merchants are finding it important to begin including B2B features and functionalities to their ecommerce website. It used to be that ecommerce websites were designed with B2B buyers in mind. The functionalities and features present were implemented to satisfy your typical consumer who was purchasing goods for themselves rather than their business. With the massive rise in B2B consumers flooding our ecommerce sites, we have no choice but to accommodate.

There are certain things to take note of when recognizing the similarities and differences between the user experience of the B2C client and the B2B client. There are obvious differences in features necessary for each type of consumer because of the way purchases are made. One important thing that B2B buyers value is the option to view wholesale pricing quotes. Where there used to be a “call for pricing information” notation on many websites, customers have now grown accustomed to instant access to information, and the thought of calling a representative to talk price is off-putting. If a request for quote function doesn’t come native on your eCommerce platform, there is always the option to implement a module which can provide you with this function. The Request for Quote Module by Web Solutions NYC lets business buyers submit quote requests and site owners modify or accept those requests. Business buyers can then purchase directly from the accepted quote with one click of a button.

When it comes to aspects of the user experience aside from those special features needed for business transactions, B2B and B2C consumers really aren’t very different. Both types of buyers want a clear and navigable path to purchase without having to search for the next step. Details and information should be clean and laid out for the potential consumer. This goes for all aspects of the ecommerce site- including the mobile view. Just like B2C consumers,B2B buyers are starting to take advantage of the capabilities and conveniences of having a mobile device, and are using that to do their B2B ordering. It’s important to pay just as close attention to the quality of the mobile experience for B2B consumers and you do for your B2C audience.

Avoiding Abandoned Carts on Your B2B Site

As an ecommerce merchant, the last thing you want to see is an abandoned cart. So how do you go about avoiding this problem on your B2B site? It’s important to get inside the heads of your consumers and find out what the problems are. All that’s left to do from there is to tackle those problems and create the optimal user experience for your B2B consumers. There are many reasons why a client may choose not to complete a transaction. One of the most common was shipping related pains. Studies show that about 60 percent of shoppers have abandoned their carts due to shipping related issues. Contrastingly, close to 40 percent of retailers stated that they saw a customer experience uplift when they introduced better shipping options. This kind of information is essential when looking for feedback from your consumers about what is most important to them.

Other issues which are known to cause potential clients to abandon their carts is poor user navigation. It’s important to give your consumer a clear understanding of how to navigate your site in order to find the products that they need as well as to take the steps necessary to complete a purchase. In today’s world of advanced technology, the main purpose of making a purchase online is to be able to make that purchase with speed and convenience. If these aspects of the experience are taken out of the equation, the consumer will likely look elsewhere.

When a potential consumer is looking to leave your site for whatever reason, there are some things you can do to try and change their minds. For example, you can implement a feature called the Exit Popup Modal. Keep consumers on your site for as long as you can with this extension from Web Solutions NYC. With this feature implemented, a modal window appears when the customer tries to exit the site. The website admin can customize this model box to feature any message you’d like. This customizable aspect allows you to utilize the module to its fullest potential. The admin also has the ability to choose an image to be displayed with the text and to choose whether or not a custom header will be displayed. Further customizations include where and when the modal will pop up for the consumer. You can decide whether to display the modal one time or to set up time intervals to have it displayed on your site. It’s important to utilize any and all available opportunities to keep B2B consumers on your site as long as possible.

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shipping & tax

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Technology & Support

multi store functionality

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Product Pages

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