Best Practices & Strategies for B2B Ecommerce Success
27 August 2024B2B ecommerce is growing fast and is expected to reach $36 trillion in market value by 2026.
However, many B2B organizations struggle with the business model, preventing them from maximizing their revenue potential.
According to Zoovu’s 2024 report, 65% of B2B decision-makers say B2B ecommerce is “broken at their organizations” due to:
- Poor data
- Insufficient platforms
- Ineffective data management
- Product complexity
- Buyer engagement complexity
Implementing B2B ecommerce best practices helps ecommerce retailers of all sizes overcome these challenges. Think of them as guardrails that will steer your ecommerce strategy in the right direction and increase your B2B sales.
What Is B2B Ecommerce?
B2B ecommerce is buying and selling products and services online through a direct portal, store, or marketplace.
Companies engaged in B2B ecommerce transactions include wholesalers, manufacturers, producers, distributors, and B2B retailers.
Since these transactions happen digitally, B2B sellers have the opportunity to provide a seamless purchasing experience while reducing costs.
Having the right ecommerce tools helps. For example, using k-ecommerce’s ERP-integrated B2B ecommerce solution enables you to support and optimize B2B ecommerce processes and increase customer satisfaction.
What Are the Differences Between B2B and B2C?
To get a clearer picture of the B2B ecommerce landscape, you can compare it with its business model counterpart: B2C ecommerce.
Decision-Making Process
While B2B buyers generally expect user-friendly ecommerce experiences much like their personal online shopping, B2B purchases prioritize logic over emotions. B2B purchases are generally larger and aren’t impulse buys. Plus, B2B purchasing decisions often involve multiple stakeholders.
Since B2B buying decisions are high stakes, business customers must assess potential benefits, weigh them against possible drawbacks, and consider other factors such as cost, usability, and reliability.
They may also need approval from other decision-makers in their organization before they can make the purchase.
It’s different with B2C. Since personal needs and preferences drive B2C transactions, B2C purchasing decisions are usually quicker and more emotionally driven.
As a B2B seller looking to increase sales, your B2B online store must appeal to the buyer’s rational side.
Product Complexity
B2C products are generally non-customized and designed for the immediate satisfaction of individual consumers.
B2B products, on the other hand, are inherently more complex because they need to be customized and specialized to meet each business’s specific requirements and systems.
However, B2B buyers prefer a buying process that resembles B2C online sales. Presenting your product information in ways that capture the simplicity of B2C online stores can improve conversion rates.
To address this need, k-ecommerce offers custom product catalogs to ensure that each business-to-business buyer gets the ease and convenience of typical of B2C transactions.
Pricing Structure
B2C pricing tends to be fixed and standardized, with every customer paying the same price.
B2B pricing is built different. Unlike individual customers, businesses judge a product’s value based on how it impacts their ROI. As a result, competing in the B2B ecommerce market requires offering customized contractual pricing that varies by client.
The unique relationship between a B2B seller and a B2B buyer can also influence pricing. B2B pricing often reflects personalized agreements that create a win-win situation for both parties.
Offering bulk discounts or tiered pricing to encourage larger orders or secure a long-term commitment from the buyer is simplified through tools like k-ecommerce that support complex pricing and payment structures to meet the unique needs of each B2B relationship.
Order Size
B2B purchases are often significantly larger than B2C purchases. This is because B2B relationships are ideally long-term partnerships. Businesses prioritize efficiency and prefer to stick with one B2B seller rather than engage in one-off transactions, which is why B2B buyers tend to have higher order frequency.
To facilitate convenient B2B transactions, k-ecommerce offers reorder options that allow returning business customers to place repeat orders with just a few clicks.
What Are B2B Best Practices?
As mentioned earlier, B2B sales is a long and complicated process. To navigate its complexities, you must plan for challenges in key areas such as:
- User Experience: Ensure intuitive navigation and functionality.
- Personalization and Customization: Customize offerings to meet specific customer needs.
- Inventory Management: Optimize stock levels to meet demand without overstocking.
- Security: Implement robust measures to safeguard sensitive data and transactions.
- Marketing Strategies: Plan to reach decision-makers effectively and promote brand awareness through SEO.
B2B Ecommerce Best Practices
1. Regularly Audit Your Ecommerce Website
A B2B ecommerce website has so many moving parts that it’s easy to overlook errors and flaws. If you ignore errors and awkward processes, you’ll frustrate your buyers and lose sales opportunities.
To ensure your B2B ecommerce website operates in a way that maximizes sales opportunities, ensure that your website:
- Loads quickly and completely
- Has working links
- Accurately reflects inventory
- Displays accurate pricing
- Provides smooth navigation
- Attracts the right audience
But how do you check for, remove, and manage errors? The first step is to conduct an ecommerce website audit.
An ecommerce website audit comprehensively evaluates your online store’s performance.
The critical aspects of an ecommerce website audit include:
- UX (User Experience) — Evaluate how easy and enjoyable it is for users to interact with your website.
- Content — Assess the quality, relevance, and effectiveness of your website’s textual and visual content.
- SEO (Search Engine Optimization) — Review strategies and techniques to improve the website’s visibility and ranking in search engine results as part of your digital marketing strategy.
- General technical assessment — Check your website’s overall functionality, performance, and responsiveness.
- Security considerations — Ensure the website is secure against potential cyberthreats and vulnerabilities.
2. Personalize Your Product Catalog
When customers browse a B2B ecommerce store, they do so with their business’s specific needs in mind. Presenting your products to all buyers without meeting their unique requirements and preferences risks lost sales.
In fact, a 2023 Master B2B survey reports that 59% of B2B sellers said they lost sales because their online store wasn’t personalized enough for customers.
B2B personalization is challenging. Without the right tech stack, your product and customer data can become disorganized and difficult to manage.
It helps to have real-time access to customer data (e.g., order history, contact details, and payment terms) and product data (e.g., SKU, descriptions, inventory levels, and pricing).
With k-ecommerce’s ERP integration, you can harness this data effectively, enabling you to personalize your B2B ecommerce website with:
- A self-service portal
- Recurring orders
- Personalized product catalogs
- Product recommendations
- Marketing segmentation
3. Provide Customized Pricing
As a B2B seller, you want to offer competitive and accurate prices. However, that becomes challenging when many customers have contractual pricing agreements or rely on bulk pricing and volume discounts.
That’s where custom pricing helps. With custom pricing, you offer pricing based on a business’s buying habits, needs, and negotiated rates.
k-ecommerce’s ERP-integrated solution gives you the flexibility to accommodate each business’s unique pricing requirements as part of its personalized catalog.
4. Streamline the Checkout Process
A smooth checkout process keeps customers satisfied and improves conversion rates, but a cumbersome checkout process can negatively impact customer experience.
It’s not surprising that 22% of customers abandon their carts due to a long, complicated checkout process, and with 98% of B2B customers encountering challenges at checkout, you have an opportunity to stand out from the competition.
Streamline the checkout process and accommodate bulk orders, custom pricing, and diverse payment methods by:
- Implementing one-click reorders: Give customers the option to save frequently purchased orders for quick and easy reordering.
- Adding a progress bar: Provide visual cues to help customers know how far along they are in the checkout process.
- Providing multiple payment options: Provide diverse payment methods to satisfy different preferences.
- Enabling guest checkouts: Allow first-time buyers to make purchases without creating an account.
- Allowing customers to save carts: Give buyers the option to save carts so they can buy at a later date.
K-ecommerce’s centralized, real-time ERP data provides up-to-date information on inventory levels, pricing, and customer data to support a streamlined checkout process.
5. Streamline Repeat Online Ordering
Most B2B transactions are not one-off purchases. If a B2B buyer buys your products and has a great experience, they will likely order again. Given that 53% of B2B buyers make daily purchases online, you want to ensure each succeeding purchase is at least as satisfying as the last.
However, if your online store requires customers to individually select and reorder items every time, it will cost the buyer hours of extra work and sour the buying experience.
Making it easier for customers to reorder their essentials saves them time and reinforces their trust in your services.
Using k-ecommerce, you can easily streamline repeat orders with tools like saved cart options, templates, quick reorder buttons, and Express Orders.
6. Use Automation to Your Advantage
Running an ecommerce business involves many tasks, from managing inventory to processing orders and customer inquiries. While these processes are critical to your online store’s success, they also involve repetitive tasks that waste time and increase your costs.
By using automation, you can eliminate or minimize that busy work, allowing the time to be spent on high-level tasks instead. You also get fewer errors, improved customer experience, and reduced costs. 45% of retailers reported increased profits using automation tools.
K-ecommerce, for example, offers seamless integration with popular ERP systems like Acumatica and Microsoft Dynamics 365, allowing you to automate ecommerce functions like:
- Order processing
- Inventory management
- Pricing
- Payment processing
- Order fulfillment
7. Optimize Your B2B Onsite Search
B2B buyers are busy and can’t afford to waste time when visiting an online store. The sooner they can find the items they need, the better for them and their organizations. Nearly half, 43%, of website visitors use the search function immediately after loading a website.
In addition, B2B items can be complex, with multiple variations, and your website search engine needs to help buyers find the exact item they need.
If your internal search feature isn’t optimized to help buyers find the items they need quickly, you may end up frustrating them. Worse, they might seek another online store that offers a more refined internal search engine.
Despite the importance of internal search engines, only 41% of B2B organizations plan to use search to meet high customer expectations.
That’s an opportunity for your B2B ecommerce business to stand out. By optimizing your B2B onsite search, you earn the trust of buyers who crave the convenience of finding what they need fast.
With k-ecommerce, you get a search functionality that allows customers to search by item number or description and filter by attributes.
8. Invest in Responsive Design
To take advantage of this trend, B2B online stores must prioritize delivering a seamless high-quality customer experience, regardless of the device buyers use.
To make your B2B online store mobile-friendly, your ecommerce website should:
- Load quickly
- Automatically adjust to different screen sizes
- Show text that’s easy to read
- Use negative space effectively
- Display important information above the fold
- Provide intuitive navigation
- Use highly visible, clickable buttons and elements
One effective way to achieve a responsive design is through CSS Media Queries or by leveraging responsive frameworks like Tailwind, Panda CSS, and Bootstrap.
9. Secure Your Ecommerce Website
Everyone is at risk of a cyberattack, but ecommerce sites are the most vulnerable.
Ecommerce websites handle a huge number of financial transactions and sensitive information. That makes them prime targets for cybercrime like identity theft, man-in-the-middle attacks, and credit card manipulation.
Cyberattacks can damage brand reputation, lead to lost sales, and result in government fines and lawsuits. To protect your B2B ecommerce business from these attacks, prioritize security.
Security measures that can help secure your B2B ecommerce website include:
- Implementing stronger passwords
- Using secure payment gateways that encrypt sensitive data
- Using two-factor authentication
- Using secure sockets layer (SSL) encryption
A B2B ecommerce platform like k-ecommerce offers robust security measures through in-house security experts, secure payment gateways, and a PCI Level 1 Certified private cloud environment.
10. Optimize Your Website for Search Engines
SEO is a powerful tool in your B2B ecommerce strategy for attracting potential customers. Since most B2B digital commerce purchases are driven by research, most decision-makers use search engines like Google to find what their business needs.
Unlike in B2C sales, where many customers turn to social media, a Databox survey found that over one-third of industry experts said their highest-qualified B2B leads came from their SEO efforts.
For your B2B online store to rank higher in search engines, you must target relevant keywords and optimize helpful content that satisfies the search intent of your target audience. Plan your content so that each piece guides potential buyers through different stages of their buying journey.
SEO is an ongoing process, so use tools like Google Analytics and Google Search Console to monitor your SEO performance and make data-driven adjustments.
Final Thoughts: Best Practices and Strategies to Increase B2B Ecommerce Sales
Running a B2B online store can be challenging. Implementing the B2B ecommerce best practices detailed in this guide can help you stay on track, achieve your sales targets, and hit your revenue goals.
You’ll need the right tools to carry out these best practices. That’s where k-ecommerce can help. Using our ERP-integrated ecommerce solution, you can put your B2B online store in an ideal position to implement the B2B ecommerce best practices discussed in this guide.
Interested in learning how k-ecommerce can optimize your B2B ecommerce website and increase sales? Contact us today or check out our demo.