B2B Omnichannel Commerce: Why it’s right for you
Omnichannel has become a popular buzzword in this situation. Did you see all channels? You may have noticed that the farmer searched and bought the product on his phone before buying it in store. Did you know that the product was shipped from a local warehouse to the store by a manufacturer? The local store did not have the part in stock, which could have caused frustration and disappointment for the farmer and possibly lost the sale. The original order of the farmer for the tractor came from a sales rep at the store’s CRM/ERP. This is connected to the website so customers can easily review their orders, regardless of channel. Customers expect seamless ordering, no matter what channel.
The Case for Omnichannel B2B Commerce
Working with B2B companies that have just started to use omnichannel and eCommerce, the most frequent question we get is “How can I keep my sales team engaged and profitable?” It is important to be clear that the digital revolution does not replace sales reps. Instead, it allows them to become more efficient and allow them to concentrate on their core business: selling high-value, higher-consideration products.
It is a fact that most buyers, B2B or B2C, start their search online. A sales rep can save time by having them start the customer journey digitally and available 24/7 until they indicate that they are ready to chat.
Delivering meaningful online experiences for customers and your sales team
The online experience should offer more information than a sales representative can provide. Your customers and prospects should be able to view compatible models and download specifications. Richer content is available, including videos as well as user-generated content (UGC), such reviews and Q&As.
ClearBags, an online retailer, integrated TurnTo’s customer generated content into its product pages to provide social validation and UGC. ClearBags realized that its products can be used for multiple purposes, and they needed customers to share their stories in order to reduce the load on its content team and inspire other customers. ClearBags’s website is a great channel for customer acquisition. Revenue continues to grow.
If the product is customized or has more complicated pricing models, a request for a quote or click-to-call button can be used to quickly connect the buyer and your sales team. They can then focus on more complicated products which often have higher margins. ClearBags uses the request a quotation button on its product pages to order large quantities and for custom packaging. The sales representative will then reach out to the customer for personal service.
Salespeople don’t like to waste time dealing with paperwork or complicated procurement processes. This can be simplified via your website to make it easier for salespeople to close the deal faster and spend less time looking after paperwork. It’s a win-win situation for both your salespeople and the company.
The primary goal of Rebel Athletic online apparel and accessory retailer was to sell bespoke uniforms for its high-end customers. The company saw a lot more demand from smaller companies than it could handle individually. The online shopping option allows the sales team to stay focused on the custom uniforms part of their business. It allows customers to simultaneously sell B2C and B2B online. Customers can also browse Lookbooks and see how they can engage with the brand at future pop-up events. They can also get inspiration from other customers via social media integrations.
Omnichannel for Cross-Selling and Increasing AOV
Manufacturers often want to sell their entire line of replacement parts online, but are unsure how to do this economically per unit. Retailers also struggle to drive traffic to their stores so they are exploring ways to use online/in-store traffic to increase sales. Omnichannel functionality allows you to cross-sell quickly, and also increases the customer’s value.
A manufacturer selling replacement parts can allow buyers to log in and view the exact model information, then search for compatible parts. If they need it quickly, they can order it from their local shop, showroom, warehouse, or other location. This farmer example shows how technology can be used to streamline the process for customers. Companies can also make it as simple as possible to reorder customers, increasing customer lifetime value (CLV).
Remember that not all customers are alike, even within the B2B sector. You can use data-driven approaches to tailor content and recommendations for each customer to maximize your CLV per-customer. This customer-centric approach improves customer satisfaction and customer experience.
You can win the customer with your first touch
A search for something small is often a first contact with a potential customer. This could lead to a higher value in the future if your content and marketing teams are well-prepared. If you’re clear about your target market, it is possible to meet potential customers wherever they may be at the moment.
Here are some tactics to consider
Drop-shipping and Ship-from-Store options can help you expand your product line and reduce delivery times.
* Treat your vendors as mini distribution centers and use their proximity to customers to offer next-day shipping.
* Stores can have unlimited sales capabilities to ensure they don’t lose customers.
* Work with vendors that offer complementary products to increase your revenue stream and provide your customers with a seamless shopping experience.
Keys to Omnichannel Success
These strategies are not easy to implement, but they can yield great results if done well. It takes active collaboration between IT and sales, marketing, content, management, and content teams to achieve success.