ECommerce For Manufacturers: 6 Strategies To Increase Profitability
Jan 20, 2022 ● 8 min to read
According to IRCE, the growth of B2B eCommerce is surpassing that of B2C merchants by over 100%, while Forrester estimated that B2B eCommerce will total $1.1T, making up 12.1% of all B2B sales by 2020.
Map your content creation strategy to your buyer personas, addressing their questions and concerns at each stage of their customer journey
Research the best venues to distribute and promote your content
Capture and nurture leads by offering additional relevant and valuable content
Use segmentation and retargeting to ensure content-audience match
Use rich content at product level, e.g. product demo, to create an engaging user experience and appeal to prospects at the decision-making stage
Ensure seamless collaboration and communication between your inbound marketing and inbound sales team
3. Easy Ordering And Reordering
The ultimate objective of your B2B eCommerce website is to drive conversion. Therefore it’s important to offer a user experience that facilitates the ordering and reordering processes for your customers.
Here are a few ways to create a user-friendly ordering process to increase conversion and customer lifetime value:
Simplify pricing structure to allow easy implementation of product configuration, quoting, payment processing, recurring shipment, and online reordering
Configure product display and pricing according to the client company’s business rules. By allowing buyers to choose from pre-approved products and place orders within a predetermined spending limit, you can facilitate the purchasing process
Provide personalization by capturing prior interactions with customers both on and off the eCommerce platform (e.g. with sales reps via phone or via live chat) and reflect the information in product configuration, pricing or shipment preferences etc.
4. Localization For a Global Market
B2B eCommerce websites help manufacturers reach a global clientele, opening up opportunities in fast-growing markets overseas.
To fully leverage this advantage, you need a robust centralized eCommerce platform while implementing site localization to ensure a seamless and relevant user experience for your international customers:
Display relevant shipping, delivery and pricing information, which varies by geography or market segments
Consider the country’s primary language, dialects, and culture when creating content
Localize the entire customer experience, such as customer support, payment system, and digital marketing campaigns
Leverage the most appropriate marketing and communication channels in the local market to drive traffic to the eCommerce site
Adhere to local laws and regulations
Consider a localized mobile apps – today, 50% of people use their cell phone as their primary Internet source. The percentage is even higher in certain countries, e.g. China.
Being present in multiple channels is no longer a “nice to have.” According to Forbes, customers are demanding it:
Almost three-quarters of B2B buyers told us that they look-up product information online and expect it be consistent across any channel. Sixty-eight percent also highlighted that it is important or very important to be able to view all their activities across all channels. Buyers today expect an omnichannel experience where they can view product information, analyze activities, account history, take delivery, return and exchange across all channels. Two-thirds of B2B companies told us that their customers are expecting omnichannel capabilities from them, with a further sixty percent of respondents expecting to see a rise in customer satisfaction metrics due to omnichannel initiatives.
To successfully implement an omnichannel strategy, you need a robust backend system that records and collates as much prospect and client information as possible so you can deliver a high level of personalization to ensure consistent customer experience.
6. Data-Driven Innovation
When you analyze traffic and understand how prospects and customers interact with your website, you’ll be able to gather a large amount of data to help fine-tune your eCommerce website’s user experience and increase conversion.