Arguably the biggest announcement at Magento Imagine 2017 was around their developments in B2B. It’s the hot topic for sure right now, B2B eCommerce is set to grow twice as large as the B2C marketplace by the end of the decade.
Magento and B2B
Magento is already a market leader in B2B, powering 41 merchants on the Internet Retailer B2B eCommerce Top 300 list, but the new, more accessible features will only serve to soar this success.
Magento Digital Commerce Cloud for B2B features include:
- Corporate account management, with flexible payment options
- Ability to give multiple users different levels of access to the same account and allow the end-user to manage this themselves
- Quoting, allowing for maximum efficiency and negotiation on pricing where needed
- Quick ordering, and the capability to copy over previous orders
- Customisable pricing, customers will receive the right products and pricing information with personalised price lists
- Real-time inventory intelligence, expose distributors to available inventory
- Intelligent routing and order delivery, significant cost-savings for businesses that ship from multiple locations
- Backend integration, easily able to integrate and enable real-time communications with any ERP, CRM, or other backend system
- Multi-channel support
B2B and Personalisation
A B2C purchase is often done with the heart, not the head. The consumer’s online purchasing can often be quick, impulsive one-off buys. B2C customers are perfect for personalised target marketing that speaks directly to their emotions, personality traits, and what they’re into – especially when they’re still towards the beginning of their buying journey.
But the B2B customer is different entirely. There are often multiple individuals involved in the buying process and their buying decisions tend to be more logical. These customers require a buying process that feels secure and informed. They need plenty of information and brilliant customer service, all delivered with great efficiency, and they need to know that they’re in the right place to get their individual pain points resolved. A B2B customer might take longer to convert, but the payoff being they might then become a repeated client with large orders over a long period of time.
5 Ways to Boost Conversion for Your B2B Customers Via Personalisation
We have entered the age of the personalised web. Consumers want to be treated as individuals with specific needs – B2B buyers are no exception. Being used to personalisation perks during their B2C online shopping experiences, they now expect the same from their B2B purchasing. This includes:
- Intuitive navigation and search: Make it easy for customers to navigate your site and rapidly find the products they’re looking for. Magento site search allows for filtering, sorting by business rules, synonyms, and autosuggest. We are all familiar with sites offering us product recommendations based on our buying and search history, and using platforms like Magento, B2B eCommerce can easily adopt this practice to drive further sales, for cross-selling or upselling opportunities.
- Personalised accounts: Customers want to know that you understand their business and that you can anticipate their individual needs. Account personalisation enables you to customise their experiences and deliver targeted messaging that simplifies the ordering process.
- Tailored pricing: Dynamic prices involve reflecting pre-configured business rules and negotiated contract pricing terms. Tailoring your pricing can increase profitability, as well as improving customer satisfaction.
- Product recommendations: B2B customers want the convenience of retail shopping experiences, so you need to be able to generate product recommendations based on your customers’ tracked shopping habits.
- Quick repeat ordering: B2B customers usually know exactly what they want and will order again. Make purchases easier with an order feature that allows the buyer to order the same set of items repeatedly.
If you want to find out more about our track record of growing B2B business via flexible Magento solutions, get in touch.