Omnichannel Is Critical For The Success Of B2B Sales: Why?July 26, 2021
“Customer retention and loyalty are essential for B2B/B2C retail success. Through technology, we are enabling retailers to build engaging eCommerce stores for driving sales and improving customer loyalty.” – Shrenik Gandhi.
And by the term ‘technology’ over here, we refer to the omnichannel B2B eCommerce platform being tread by the marketers, much like how B2C professionals have been doing for ages. Several B2B brands appear on social media and are active players of the digital world, some with even unique personalized web stores. If you can relate to the below-quoted wordings of Domini Cummins, you will very well comprehend the need for B2B channels to adopt the omnichannel eCommerce strategy for the wellbeing of the business.
“Businesses aren’t about B2B or B2C, they are Human to Human (H2H)”
Much similar to retail marketing, the business-to-business eCommerce platform makes use of omnichannel marketing lessons to skyrocket their customer experience. Today, the omnichannel marketing approach has become the pivot of global sales (especially after the Covid-19 pandemic attack). B2B buyers find themselves more comfortable with the remote and digital buying experiences. In the 2020 report by PWC, the findings stated that B2B professionals investing in omnichannel strategy have grown from 20% to 80%.
- 83% of the B2B professionals in 2021 (as compared to only 54% in 2020) believe that omnichannel marketing offers better business prospects.
- B2B brands that practice omnichannel eCommerce retain 89% of their clients.
- 75% of the buyers prefer making a repetitive purchase from brands with an omnichannel approach.
Creating a flawless profit-driven omnichannel experience is no child’s play. Therefore, you can always consider expertise like Quick eSelling for a feature-rich B2B eCommerce solution. But before that let’s explore all the ‘why’ and ‘how’ which have made omnichannel a mandate of 2021 and not just an add-on digital strategy for B2B brands.
Why do B2B companies need to adopt an omnichannel eCommerce strategy?
- The major influence of digitization in the customer buying behavior
Customers have become majorly digital and tech-savvy with shopping. From the point of need identification, searching for need fulfillment, comparing options in the market, finalizing the product as per the requirement, and finally checking out with a bill; everything takes place in digital mode. In B2B some buyers love to perform all the buying process steps online, but for payment, they prefer the physical mode. So the brands which welcome such customer expectations and provide hassle-free hop from one buying channel to another, are the ones that are ruling the market today.
- Involvement of multiple channels
Customers today have the option of exploring multiple shopping platforms to satisfy their one purchase to the fullest. For this they expect their brands to provide them a seamless buying experience with thorough integration across all the channels. So apart from being helpful for the buyers, this omnichannel attribute is of success to the brand too. It improves the brand reach and awareness, increases the percentage of potential buyers, and elevates the buying opportunities amongst people.
- Preference of customers for self-service
40% of the buyers consider self-service to be a more viable option than human interaction for product support. 70% of the buyers expect their brand to have this feature essentially on their portal to solve their concerns related to purchased products or services. Self-service integration is a major hit because it also improves the FCR of the companies, saves on their cost and time, improves the level of customer engagement, and unifies all self-service means like IVR, chatbots, SMS, etc.
How do companies need to shape up to leverage the benefits of the omnichannel B2B eCommerce platform?
- Have a detailed insight into customer data
Data-driven insights are the best way to learn about the customers from the customers themselves. For this insight, every step of the customer’s purchase process needs to be keenly studied and information is to be collected from live chatbots and surveys. All this will help you with your buyer’s or prospect’s optimal and even negative purchase experiences.
- Identify the revenue-generating segments
The above data analysis will help you identify the companies which harness the maximum revenue for your brand. Explore more about their customer engagement pattern and preferences. Make use of this wealth of data to devise the omnichannel strategy for your business. Segment the companies based on the returns generated by them and provide them a much-personalized experience to drive in more conversions and ensure long-term relationships.
- Shape up a unique buyer’s experience
Post the segmentation of the companies, you need to craft a thoroughly customized customer-centric approach for your B2B merchants and even their respective customers. Provide an intuitive web design, customer-centric self-service options, product catalog with respective pricing, comparison option, and payment options. Additionally, you can take the help of workflow automation to systematize the back-office tasks. Example: Amazon – the online B2B eCommerce giant.
- Craft database relevant content
If the content is the king, the content management system (CMS) is the magic wand that teaches how to tame this content to yield business profits. Your CMS will help you identify where you got your business leads from and how to refine these sources with the use of SEO-friendly digital content. Identify the channels through which the buyers reach you, and mold your content in a way that entices the prospective buyers to make a final checkout from the cart. Make your content consistent across all the buying platforms of your brand for a unified omnichannel experience.
- Test before final implementation
Make use of different marketing tools to test the efficiency of your omnichannel marketing efforts. Alongside also study the overall customer engagement and effectiveness of each channel. Ensure that your business is thoroughly aligned with the unique omnichannel experience to manage the marketing and sales pipeline effectively. Remember;
“These customers are expecting from you to be where they are, the moment that they want (to engage). They’re expecting this connection from you right away.”
- Zita Cassizzi
The final thought
Companies need to comprehend, improve and integrate all the touchpoints in the customer journey for measurable insight and seamless omnichannel competence. Marketers need to be responsive, integrated, and agile to provide a wholesome customer experience to their tech-savvy buyers. Backed with technological capabilities, omnichannel marketing can guarantee mammoth customer retention rate and purchase frequency in years to come. For this reason, several futuristic brands like VIP.com, NicotineRiver, and MedUx have already invested in this omnichannel B2B eCommerce platform.
Therefore, if your brand has not yet tasted this digital success or you wish to revamp your current omnichannel strategy, then all you need to do is click Quick eSelling. Enjoy the experience. It’s worth your time and money.