25.08.2016 Views

4 Sure-Fire Ways to Fail in B2B E-Commerce

Looking to make the leap into e-commerce? Many B2B companies like yours are jumping into the digital commerce market because their customers are asking for it, the technology is attainable and, frankly, the competition is already there. With researchers projecting that B2B e-commerce sales in the U.S. alone will reach $1 trillion by 2020, B2Bs don’t want to miss this profitable sales channel opportunity.

Looking to make the leap into e-commerce? Many B2B companies like yours are jumping into the digital commerce market because their customers are asking for it, the technology is attainable and, frankly, the competition is already there. With researchers projecting that B2B e-commerce sales in the U.S. alone will reach $1 trillion by 2020, B2Bs don’t want to miss this profitable sales channel opportunity.

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4 <strong>Sure</strong>-<strong>Fire</strong> <strong>Ways</strong> <strong>to</strong> <strong>Fail</strong> <strong>in</strong> <strong>B2B</strong> E-<strong>Commerce</strong><br />

Look<strong>in</strong>g <strong>to</strong> make the leap <strong>in</strong><strong>to</strong> e-commerce? Many <strong>B2B</strong> companies like yours are jump<strong>in</strong>g<br />

<strong>in</strong><strong>to</strong> the digital commerce market because their cus<strong>to</strong>mers are ask<strong>in</strong>g for it, the technology is<br />

atta<strong>in</strong>able and, frankly, the competition is already there. With researchers project<strong>in</strong>g that <strong>B2B</strong><br />

e-commerce sales <strong>in</strong> the U.S. alone will reach $1 trillion by 2020, <strong>B2B</strong>s don’t want <strong>to</strong> miss<br />

this profitable sales channel opportunity.<br />

Unfortunately, some bus<strong>in</strong>esses are launch<strong>in</strong>g their e-commerce sites before com<strong>in</strong>g up with<br />

a solid strategy – one that outl<strong>in</strong>es bus<strong>in</strong>ess requirements, measurable goals and a multifaceted<br />

market<strong>in</strong>g plan. As a result, companies can make some major mistakes – some that<br />

can br<strong>in</strong>g their e-bus<strong>in</strong>ess <strong>to</strong> a screech<strong>in</strong>g halt. If you want a chance at e-commerce success,<br />

be sure you don’t follow these failed moves:<br />

Way <strong>to</strong> fail #1: Create a makeshift e-commerce solution<br />

<strong>Commerce</strong> platforms are not made <strong>to</strong> be universal, so don’t th<strong>in</strong>k you can buy just any e-<br />

commerce software and tack it on<strong>to</strong> your current backend systems. You need a platform<br />

made specifically for your type of bus<strong>in</strong>ess that offers features like cus<strong>to</strong>mer-specific pric<strong>in</strong>g,<br />

easy payment options and punch-out capabilities.<br />

The platform must also be able <strong>to</strong> <strong>in</strong>tegrate and communicate seamlessly with your ERP<br />

system if you want <strong>to</strong> see consistent, up-<strong>to</strong>-date <strong>in</strong>formation related <strong>to</strong> products, <strong>in</strong>clud<strong>in</strong>g<br />

product specs, digital assets, <strong>in</strong>ven<strong>to</strong>ry and more. The best way <strong>to</strong> make this happen is by<br />

hav<strong>in</strong>g a dedicated product <strong>in</strong>formation management (PIM) solution. A PIM acts as a data


management system <strong>to</strong> provide one reliable place <strong>to</strong> manage, house and share all your<br />

product data and content.<br />

Before reach<strong>in</strong>g out <strong>to</strong> e-commerce providers, meet with your IT, sales and product teams <strong>to</strong><br />

determ<strong>in</strong>e your system requirements and limitations. The software platform is the corners<strong>to</strong>ne<br />

of your e-commerce. Without the proper platform and systems <strong>in</strong> place, you can expect<br />

mount<strong>in</strong>g negative effects such as <strong>in</strong>efficiency, additional costs and cus<strong>to</strong>mer frustration.<br />

Way <strong>to</strong> fail #2: Provide bare bones content<br />

Manufacturers may provide you with <strong>in</strong>formation about their products, but have you ever<br />

really looked at it <strong>to</strong> see how helpful it actually is for cus<strong>to</strong>mers? Just because the<br />

manufacturer provides the data doesn’t mean it’s the best or most relevant <strong>in</strong>formation for<br />

that product. Unfortunately, most distribu<strong>to</strong>rs tend <strong>to</strong> use only this basic <strong>in</strong>formation on their<br />

site, so cus<strong>to</strong>mers are forced <strong>to</strong> either call cus<strong>to</strong>mer service or try a different supplier’s site <strong>to</strong><br />

get answers. You never want a potential cus<strong>to</strong>mer <strong>to</strong> leave your site because your content is<br />

lacks the specifications and features needed <strong>to</strong> make a purchas<strong>in</strong>g decision.<br />

Product content fuels your onl<strong>in</strong>e sales; when that content features SEO-rich descriptions,<br />

tags and l<strong>in</strong>ks, you have a greater chance of attract<strong>in</strong>g visi<strong>to</strong>rs and rank<strong>in</strong>g higher <strong>in</strong> searches.<br />

So go the extra mile and <strong>in</strong>clude more value-added <strong>in</strong>formation about your products by<br />

enrich<strong>in</strong>g the descriptions, product bullets and specifications. Provide additional images,<br />

product videos and important documents like <strong>in</strong>stallation manuals, user guides and MSDS<br />

sheets. The benefits <strong>to</strong> beefed-up content are twofold: cus<strong>to</strong>mers will recognize you as a<br />

valuable resource for product <strong>in</strong>formation and Google and other search eng<strong>in</strong>es will notice<br />

your unique and relevant content and help br<strong>in</strong>g more attention <strong>to</strong> your site.<br />

Way <strong>to</strong> fail #3: Avoid <strong>in</strong>teraction<br />

Are you an <strong>in</strong>trovert when it comes <strong>to</strong> social media? Do you feel it’s just a channel for B2C<br />

companies or young people <strong>to</strong> <strong>in</strong>teract? Well, as we <strong>to</strong>ld you <strong>in</strong> a recent blog, social media is<br />

fast becom<strong>in</strong>g a popular market<strong>in</strong>g channel for <strong>B2B</strong> companies. The majority of <strong>B2B</strong><br />

companies actively engage <strong>in</strong> social networks like Facebook, L<strong>in</strong>kedIn and Twitter <strong>to</strong> market<br />

their company and products, but many of them are also us<strong>in</strong>g social media <strong>to</strong> help make<br />

purchas<strong>in</strong>g decisions. This additional channel allows you <strong>to</strong> <strong>in</strong>teract with cus<strong>to</strong>mers, <strong>in</strong>dustry<br />

organizations and colleagues, and is a great way <strong>to</strong> promote your products, share <strong>in</strong>dustry<br />

news and provide an onl<strong>in</strong>e Q&A. The advantage <strong>to</strong> social media is you’re <strong>in</strong> control of your<br />

content, and your posts and tweets keep you relevant and connected with people.<br />

In addition <strong>to</strong> social media, <strong>in</strong>teraction is also critical throughout the stages of the cus<strong>to</strong>mer<br />

lifecycle. Send personalized offers <strong>to</strong> cus<strong>to</strong>mers with relevant product promotions <strong>to</strong> show<br />

you know them and their buy<strong>in</strong>g habits. Offer 24-hour assistance with a cus<strong>to</strong>mer portal and<br />

onl<strong>in</strong>e chat so that you can provide answers <strong>to</strong> their questions any time of day. Then, once a<br />

cus<strong>to</strong>mer makes a purchase, follow up by send<strong>in</strong>g them a cus<strong>to</strong>mer satisfaction survey <strong>to</strong>


collect important feedback. This cont<strong>in</strong>uous level of engagement gives you great <strong>in</strong>sight, and<br />

makes for a positive cus<strong>to</strong>mer experience.<br />

Way <strong>to</strong> fail #4: Offer a Yugo experience<br />

Just because you have an e-commerce site doesn’t mean people are go<strong>in</strong>g <strong>to</strong> flock <strong>to</strong> it. If<br />

you’re not offer<strong>in</strong>g a dynamic experience onl<strong>in</strong>e, you might as well call it a day. Sites without<br />

features like <strong>in</strong>ternal search, easy navigation or a responsive design do as much good as the<br />

Yugo car did back <strong>in</strong> the 1980s. Cheaply made, underpowered and undependable, the Yugo<br />

was one of the worst vehicles ever made. So why would you want <strong>to</strong> provide a Yugo-like site<br />

for cus<strong>to</strong>mers? The user experience is everyth<strong>in</strong>g, so if your site is slow, lacks content or<br />

makes it difficult <strong>to</strong> f<strong>in</strong>d products, people will go elsewhere. Don’t underestimate your<br />

cus<strong>to</strong>mers; they are digital-savvy shoppers who know what they want, and you can bet<br />

they don’t want <strong>to</strong> spend a long time search<strong>in</strong>g for products or <strong>in</strong>formation.<br />

When it comes <strong>to</strong> <strong>B2B</strong> e-commerce, you can’t afford <strong>to</strong> fail. The stakes are high <strong>in</strong> this<br />

<strong>in</strong>creas<strong>in</strong>gly competitive sales channel, so avoid these costly mistakes by build<strong>in</strong>g out a<br />

structured strategy that provides goals and <strong>in</strong>itiatives for both the present and the future.

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