In today's competitive environment, distributors and manufacturers are striving to enhance customer experiences and increase conversions. The 2023 B2B Ecommerce Growth Strategies survey conducted by Digital Commerce 360 highlights that B2B sellers actively prioritize a variety of tactics to drive more purchases across new markets and portals. Notably, in-stock product notifications emerged as the top performer, with 68% of respondents acknowledging its success. Let's explore key ways to improve conversion rates for B2B companies currently using or considering a new B2B ecommerce platform.
- Leverage In-Stock Product Notifications: Time is of the essence for B2B buyers. In-stock product notifications play a pivotal role in instilling confidence in buyers, assuring them that the desired products are readily available. By implementing this tactic, distributors and manufacturers can enhance customer satisfaction, reduce lead times, and improve overall conversion rates. B2B sellers must ensure their business software integrates with the B2B eCommerce platform to deliver real-time inventory updates and provide accurate and timely notifications.
- Enhance Site and Ecommerce Analytics: Comprehensive website and eCommerce analytics provide valuable insights into customer behavior, preferences, and pain points. By investing in data-driven analysis tools, distributors and manufacturers can identify potential bottlenecks in the purchasing process and make data-backed decisions to streamline the buying journey for their customers. Understanding online customer behavior helps sellers optimize the user experience, personalize content, and tailor their marketing efforts to target specific customer segments effectively.
- Optimize Onsite Search Functionality: A robust onsite search function is vital for distribution and manufacturing companies. B2B buyers have specific product requirements and rely on search to find what they need quickly. By refining and optimizing onsite search functionality, businesses can help customers easily locate products, reduce bounce rates, and boost conversion rates. Important optimization strategies include providing relevant results, auto-suggestions, advanced filters, seamless catalog integration, and mobile optimization. By prioritizing onsite search, distributors and manufacturers can enhance their customers’ user experience, driving higher sales and overall customer satisfaction.
- Utilize Effective Product Recommendations: Unlock the potential of personalized product recommendations to improve your customers' purchase experiences. By leveraging in-depth insights derived from their browsing history and preferences, you can make a lasting impression on their decision-making process. With the aid of advanced recommendation engines, distributors and manufacturers gain the ability to provide highly targeted product suggestions, seize cross-selling and upselling opportunities, and ultimately elevate average order values.
- Strategically Use Promotions: Promotions and discounts can act as powerful incentives for B2B buyers, especially when used strategically. By carefully planning and executing promotional campaigns, businesses can attract new customers, encourage repeat purchases, and foster long-term loyalty.
- Harness the Power of Product Videos: Product videos play a pivotal role in boosting conversions on B2B eCommerce websites. By offering dynamic and engaging visual representations, they enhance customers' understanding of products, instilling trust and credibility in potential buyers. Addressing buyer concerns, showcasing features and benefits, and optimizing for mobile users, product videos streamline the decision-making process. Clean, well shot product videos create a compelling and informed shopping experience, resulting in higher conversion rates and increased sales for B2B enterprises.
- Effective Product Bundling: Utilizing product bundling as a strategic approach can unlock significant opportunities for distributors and manufacturers to upsell complementary items and maximize order value. By curating well-thought-out bundles, businesses can not only offer cost savings but also provide customers with the convenience of comprehensive solutions tailored to their specific needs. These thoughtfully designed bundles create a compelling value proposition, enticing customers who are seeking a seamless and efficient purchasing experience. With product bundling, B2B sellers can tap into the potential for increased sales and customer satisfaction, while simultaneously boosting their bottom line.
Adapting and Growing
Distributors and manufacturers must continue to adapt and should employ a multi-faceted approach to increase conversion rates and succeed in a highly competitive marketplace. By leveraging these distinct approaches, businesses can create exceptional customer experiences and drive significant growth. Embracing these strategies empowers distributors and manufacturers to meet the evolving needs of their digital-first customers, stand out from the competition, and achieve long-term success through customer loyalty.