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lee carl

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Once limited by geography and reach, businesses in the 21st century know no bounds when it comes to growth, thanks to the increasing adoption of technology.The digital revolution has ushered in an era of innovation and unprecedented business growth.The B2B industry is a clear beneficiary of technological advancements, experiencing improved revenue and higher customer satisfaction than ever before as a result of digital commerce solutions.As business buyers increasingly prefer self-service offerings, digital channels become even more integral for B2B players to drive continuous customer engagement.According to a recent Salesforce B2B Commerce Cloud (CloudCraze) report, 89% of B2B decision-makers attribute expected business growth to investment in digital commerce.Moreover, the study indicates that B2B organizations that have invested in digital channels are already reaping the benefits.Some key findings of the study are below:Digital is no longer seen as a primary business channelB2B leaders attribute solid business growth to digital commerce initiativesEvolving customer expectations are further driving digital transformationB2B leaders experience streamlined customer needs with digital commerceDigital is fueling B2B growthB2B organizations today are fast recognizing the value of employing digital channels to offer customers a personalized and responsive experience, which ultimately translates to retention and repeat purchases.Digital commerce, with its complex ordering features, results in cost savings and offers customers an omnichannel, streamlined buying experience.Increasingly, businesses are recognizing its benefits in customer acquisition, up-selling, and self-service.More and more B2B businesses are now selling their full line of products online, some releasing online-only product lines.Increased access to self-service capabilities allows business buyers to place orders at their own convenience.Not only does this offer immense freedom, but it also reduces servicing costs for low-volume customers.Self-service offerings also free up sales and service executives so they can spend more time building customer relationships, cross-selling and upselling products.Ultimately, this results in reduced transaction costs and improved profits.Digital also has a clear value addition in terms of order automation, tailored offerings, contract pricing, and a truly omnichannel experience.
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Forrester foresees, “By 2019, the global B2B e-commerce market size will be worth $1.1 trillion compared to the B2C market at $480 billion.”As a growing number of B2B organizations are adopting digital commerce and forgoing traditional selling methods, there is also a rise in B2B technologies and B2B e-commerce opportunities.Leading platforms like Salesforce Commerce Cloud and CloudCraze, Magento, and more are offering suitable B2C-like features to build high-performing, engaging, and functional B2B web stores.But is it enough to only recreate a B2C-like B2B store, or is there more to it?Do you have a B2B e-commerce website on your mind?To overcome the challenges that come in while creating superlative B2B e-commerce stores, you need this checklist.1) Customer Classification Based on the Profiles into GroupsB2B stores should be able to classify customers according to their profiles into groups based on location, catalog selection, order size, etc.But why classify?The customer shopping experience is one such viewpoint that pulls in more customers.Therefore, segmenting or properly classifying customers into groups will improve their shopping experience based on the selected profile.2) Customized pricing strategyIn the B2C structure, the pricing is always easy because the cost remains the same for each customer.But compared to B2C, the pricing in B2B is very complex.While defining the B2B pricing, it is important to remember that there is a definite relationship between price, volume, and customer group.Therefore, it is essential to keep a note that your store needs to have functionality that can deal with the customized pricing strategy for whatever pricing model you need.Your online store needs to have the functionality to allow you to add customized wholesale pricing for each of your products, utilizing criteria such as discounts based on the number of products ordered, on how faster the payments are done, on the location from where the order is placed, and so on.3) Ease of Use in B2B Web Stores Most website users are unwilling to stick around and make sense of a complex navigation pattern.This implies that your buyers need to find what they are looking for quickly and with minimal effort.Menu bars are the primary way people navigate through web stores, so yours needs to have a clear and logical structure.Since B2B product catalogs/offerings are often extensive and complex, good search functionality and a consistent omnichannel B2B e-commerce experience are what customers look for.These will ensure ease of use when searching for products using granular sort and filter capability, faceted search, guided navigation, or quick-search features.4) Simple checkout processThe payment system in B2B e-commerce stores should not only ensure advanced security but should also be a pleasant experience for the customers.Once the order is placed, your customers should be able to see each detail of the products purchased along with the tax exemptions mentioned appropriately.Your e-commerce store should be equipped to accept almost all of the payment methods that have been long accepted by your customers.A simple and advanced checkout process for your B2B e-commerce store helps reduce cart abandonment and improve conversions.By offering a guest checkout to your customers you can further reduce the cart abandonment rate.Shoppers aren’t required to leave all the details, but in addition to having a regular connection, they can also choose to use a “one-time guest payment” to make their purchase.Kippie is one such example of a B2B e-commerce website that allows its customers to complete their purchase as a guest, giving B2B buyers the same buying experience as B2C, where convenience prevails.Source: Key Features for B2B Ecommerce Platform
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All this and more significantly help build better relationships with customers.They contribute to larger portions of the company’s business revenue in comparison to B2C businesses.Most B2B companies lose 45-50% of their customers every five years, according to B2B International.Here’s how.Data-Driven Decision MakingWhile data-based decisions can also be applied by B2C businesses to improve results, customers in B2B businesses tend to be relatively more rational when it comes to decision making, which means that data-based decision making tends to be more reliable in B2B environments.CRMs can be used to gather and track extensive amounts of data ranging from client data to employee actions.The analysis of key performance indicators can be obtained from which effective actions can be identified, and the integration of back-end processes can be done suitably such that customer retention and satisfaction are improved.For instance, the integration of departments within the company through CRM tools can improve effective communication and help identify customer pain points in the transaction process.All this allows for improved customer understanding, thus enabling companies to find novel solutions for their customers through product development and customizations.
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CRM software hailed a whole new dimension of communication between customers and vendors.With the internet boom and subsequent globalization, more and more companies continue to invest huge amounts of capital into broadening their advertising coverage.But this broadening often comes at the price of customer satisfaction.This is where CRM software kicks in.Building a community that engages users and customers creates loyal brand ambassadors.Collaborating with your community and partners builds relationships.The knowledge you gain via this platform can help you discover new answers to problems you want to solve or situations you’d like to improve.Why are user groups successful?More importantly, they become communities that aid in professional development.Community Cloud has more than 90 million members, about tens of thousands of communities, hundreds of thousand chatter networks, and almost 100+ mint features delivered every year.Salesforce communities are also known to enhance Customer Service experience.In business over the last four decades, there has been a shift from product-centric to customer-centric.
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In fact, a Salesforce study shows that the CPQ platform allows 36% faster quote generation and results in 27% fewer billing errors.Plus, it helps increase sales by 22%!What is Salesforce CPQ?CPQ represents Configure, Price, and Quote.As the name properly recommends, Salesforce CPQ is a platform that helps its users in arranging the services or applications structured on the platform, evaluating the equivalent in an appropriate way, and providing this cost estimate to their customers in a viable way.Salesforce CPQ is helpful for sales representatives as it makes their procedure of estimating and citing a lot quicker by mulling over variables; for example, discretionary highlights about the concerned application, customizations identifying explicit customers, overseeing quantities, and contemplating discounts.Salesforce CPQ likewise utilizes the client database of business in permitting the business group to move toward explicit customers with explicit quotes.It also helps you in settling on solid business choices by connecting your CRM data with the CPQ platform.5 Tips To Implement Salesforce CPQ SuccessfullyIt is critical to experience trusted Salesforce CPQ control in order to ensure the foundation of Salesforce CPQ is executed effectively in your business organization.t legitimately manages the issues identifying with valuing and salesforce cpq pricing.You can never afford to mess up with issues that relate to the costs you quote to your customers as those issues have long-haul suggestions.Understand the Positioning of CPQ in Your Business ProcessesIf you are anticipating implementing Salesforce CPQ and Billing, it is essential to comprehend where it will fit into the previously existing business processes within your organization.Make sure you experience all the information and data on all the significant stages and import the data you require before the implementation begins.It is likewise critical to see how existing tools and platforms will be influenced by the implementation of Salesforce CPQ, as this stage is intended to incorporate numerous systems and applications.You can guarantee that none of your existing business processes are hampered, and if there is such an issue, you could approach your Salesforce Consultant and/or your developer right away.2.Verticalize the CPQ designAs a component of the design process, we emphatically suggest that you verticalize the salesforce CPQ solutions with your business’s needs.
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It is therefore the task of the executive to make sure that their business doesn’t fall off the tracks.Let’s take a look at certain trends and technological advances that are likely to pave the way of any B2B organization.Artificial IntelligenceArtificial Intelligence (AI) is revolutionizing every aspect of daily human life, and B2B e-commerce is no different.While it is still in its infancy in this industry, there have been several innovations that will streamline certain business functions.The primary usage of AI in B2B e-commerce is to read and analyze large amounts of data and structure them into a usable form for organizations.This is helpful in determining buyer preferences.The resultant data serves as a baseline for creating organizational plans and policies.AI can also be used to provide a guided experience to customers through chatbots.So, it’s important that your business strategy includes sales across all channels, and that and e-commerce platforms facilitate this by offering sales representatives a wide range of tools that can help seal the deal.But omnichannel business isn’t limited to just sales.These profiles are gaining popularity because they enable a higher level of customer satisfaction.Mobile AccessGoogle reported that just under half of B2B e-commerce searches originate from a mobile device.
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Once limited by geography and reach, businesses in the 21st century know no bounds when it comes to growth, thanks to the increasing adoption of technology.The digital revolution has ushered in an era of innovation and unprecedented business growth.The B2B industry is a clear beneficiary of technological advancements, experiencing improved revenue and higher customer satisfaction than ever before as a result of digital commerce solutions.As business buyers increasingly prefer self-service offerings, digital channels become even more integral for B2B players to drive continuous customer engagement.According to a recent Salesforce B2B Commerce Cloud (CloudCraze) report, 89% of B2B decision-makers attribute expected business growth to investment in digital commerce.Moreover, the study indicates that B2B organizations that have invested in digital channels are already reaping the benefits.Some key findings of the study are below:Digital is no longer seen as a primary business channelB2B leaders attribute solid business growth to digital commerce initiativesEvolving customer expectations are further driving digital transformationB2B leaders experience streamlined customer needs with digital commerceDigital is fueling B2B growthB2B organizations today are fast recognizing the value of employing digital channels to offer customers a personalized and responsive experience, which ultimately translates to retention and repeat purchases.Digital commerce, with its complex ordering features, results in cost savings and offers customers an omnichannel, streamlined buying experience.Increasingly, businesses are recognizing its benefits in customer acquisition, up-selling, and self-service.More and more B2B businesses are now selling their full line of products online, some releasing online-only product lines.Increased access to self-service capabilities allows business buyers to place orders at their own convenience.Not only does this offer immense freedom, but it also reduces servicing costs for low-volume customers.Self-service offerings also free up sales and service executives so they can spend more time building customer relationships, cross-selling and upselling products.Ultimately, this results in reduced transaction costs and improved profits.Digital also has a clear value addition in terms of order automation, tailored offerings, contract pricing, and a truly omnichannel experience.
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As organizations turn more customer-centric, they face the undeniable test of staying aware of the ever-changing face of the market while remaining in front of the opposition by identifying what’s “next” in market patterns.Therefore, businesses depend on a strong CRM solution to organize their existing customer data and stay updated with the current trends.The manufacturing business is no exception to this standard.Why is Salesforce best suited for the manufacturing industry?When evaluating CRM solution options for the manufacturing industry, just any CRM is not enough.To address the nature and intricacy of the manufacturing business, you need a ground-breaking source of innovation, like Salesforce.Here are some key reasons:Excellent Customer ExperienceEach organization tries to give its clients VIP treatment.Imagine how much time is squandered in simply searching for the right response to what might be a basic inquiry from your client.Salesforce encourages you to oversee basic data like warranty or service issues to help you with everyday assistance calls and requests.Boosting SalesYour greatest objective is to expand deals.Salesforce helps you to capture indispensable data and provide useful insights to boost sales.Improved Planning and ProductivitySalesforce comes with an interface that simplifies user adoption.The framework additionally helps eliminate duplicate and manual entries, which spares valuable time and improves efficiency.What are the problems facing the manufacturing industry?The approach to ‘smart shopping’ has disrupted the demand-supply chain.
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From groceries to complex business software, people are increasingly turning to digital shopping.To aid B2B marketing teams, Salesforce offers a powerful B2B Commerce platform; by capitalizing on key opportunities using the Salesforce B2B Commerce Solution, B2B marketing teams can effortlessly improve customer experience, thereby increasing customer acquisition and retention.Promising Growth Areas for B2B Marketing TeamsFor B2B marketing teams, boosting marketing productivity means working on the following key areas –1.Moreover, the conversion may not simply mean when someone converts from a guest checkout to a registered customer; it may also mean catalogue downloads, completing of online forms, response to a specific CTA, etc.To see ultra-high conversion rates, B2B companies need to take into account a number of factors – easy product and information availability, smooth checkout process especially for repeat buyers, multiple payment options, affordable shipping costs, etc.To this end, a proper conversion tracking tool like Google Analytics becomes a mandate; without an adequate conversion tracking system in place, marketers face challenges like double-tracking, cross-domain tracking, and duplicate content.2.Also, the inability to leverage structured content such as product catalogues has hindered B2B businesses from providing their customers with the most relevant search results.3.According to a survey conducted by Google, B2B customers perform 12 organic searches on average before zeroing in or engaging further with a specific brand.So, if your website is not visible in those searches, your brand will lose out on potential customers, and even one such customer lost is one too many!Moreover, research by CEB Global revealed that 77% of B2B buyers downright refused to even speak to a salesperson unless they’ve conducted their own research online.And though B2B marketers are well-aware of the importance of SEO, many hesitate because of time or budget constraints and most importantly, not knowing where to start.Moreover, a well-optimized site is one that is also mobile responsive.
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Source: Launch b2b e commerce modelAs more and more businesses embrace the B2B eCommerce model, buyers’ expectations are currently mirroring those of B2C clients.B2B buyers presently incline toward eCommerce self-service options at each phase of the funnel – from awareness to intent to purchase.B2B eCommerce earnings are considered to twofold this year, with 55% of B2B buyers completing at least half of their online purchases.Buyer inclinations are continually changing and acclimating to patterns produced by digitalization, and B2B buyers are no special case.So it is nothing unexpected that in 2020 the online sales channel and online customer experience (CX) will represent the principle territories where B2B businesses will have the option to create differentiation.The ease and accessibility advantages of online commerce have extended past the consumer market and into B2B, or businesses selling to other businesses.Understand the B2B E-commerce EssentialsThe foundation for a successful eCommerce business is critical to its functionality that ensures optimal usability and positive customer experience.Before you begin searching for an eCommerce platform, understand what these highlights are and why they’re important.Additional capabilities can always be incorporated after your site is live, but every B2B site should initially begin with the accompanying fundamental components:a) PIM:This product information management solution is crucial for all the significant product information and content for your selling channels.PIM sources, standardizes, and exports data to different channels and partners, and ensures clean, accurate product information is delivered consistently and effectively to provide a true omnichannel experience.b) Site search:A state-of-the-art search tool utilizes algorithms that allow vendors to direct the outcomes that display on their site during a user search.Advanced search capabilities such as auto-complete suggestions, configurable search, and a navigation bar with faceted attributes provide more focused, relevant search results for buyers, which lead to a quicker and easier path to purchase.Site search speed directly affects the adoption of any eCommerce site.c) Shopping cart:With an extensive shopping cart set up, buyers have an adaptable and secure approach to shop and transact online.In addition to providing live product pricing and availability, shopping cart tools should meet the different needs of your buyers by offering shared carts, shipping alternatives, and multiple payment methods, including credit cards and purchase orders.d) Content management system:A robust CMS takes into account simple updates to web pages and content, yet it additionally empowers to build SEO for better site visibility and create personalization options like product recommendations for customers.Your marketing team will take advantage of the CMS to create promotional pages and add content to support campaigns.e) Mobile:With more buyers utilizing their cell phones to research and shop for products, an ecommerce site must be versatile and cordial.Responsive website architecture adjusts a site’s design to ensure that the substance and structure of the webpage stay predictable overall for buyer devices, creating a seamless customer experience.f) Taxonomy:This classification methodology classifies products in a way that bodes well to buyers and leads them to products in as few clicks as possible.A proper taxonomy defines the hierarchy, attributes, and classes within a product catalog to create a better framework and boost a site’s search and browsing capabilities.g) Event management:Many B2B companies – especially wholesale distributors – offer training classes, new product exhibits, customer appreciation days, and other events that help them connect with their customers and educate buyers on the products they carry.An Event Management module allows companies to build an ongoing calendar of events and oversee online enrollments easily.
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