White Paper On B2B E Commerce
White Paper On B2B E Commerce
White Paper On B2B E Commerce
9 MUST-HAVE
E-Commerce Features for B2B Merchants
Table of Contents
1 Introduction
20 Conclusion
In simple terms, this means that the industry will grow by around 7-8% per
year for the next five years—a trend that B2B organizations simply can’t afford
to ignore.
Second is the simple fact that most buyers prefer to buy on the web. Even in
B2B? Absolutely. 30% of B2B buyers say they make half of their purchases
online, but Forrester’s report suggests this will almost double to 56% by 2017.
1 https://www.forrester.com/report/US+B2B+eCommerce+Forecast+2015+To+2020/-/E-RES115957
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9 Mus t- ha ve Ecom m e rce Fe a ture s for B 2 B Me rcha n t s
The problem for many B2B organizations is that E-Commerce platforms have
traditionally been designed specifically for B2C purchases.
The B2B buyer journey is far more complex, multi-layered and requires advanced
customer relationship management (CRM). Moreover, B2B has rules all of its
own when it comes to ordering, paying, logistics, customer contracts and more.
it comes to ordering, payments, logistics, customer contracts and more.
Naturally, basic expectations hold true across all online stores whether B2C or
B2B: intuitive navigation, filtering by multiple attributes, high-quality product
images, product bundling, flexible shipping options, easy searching, enticing
promotions, responsive design and shopping cart functionality that never
breaks.
In this White Paper we’ll talk about the key features you need to run a successful
B2B E-Commerce store. By moving your customers online, you can unlock a
number of huge benefits for your business, including:
—Capturing user identity, onboarding with ease and customizing the buying
experience.
—Generating leads and acquiring new customers with merchandising and
marketing tactics already proven in the B2C world
—Giving current customers the ability to manage and track their orders, freeing
up your own internal resources.
—Delivering a flawless experience across multiple channels, including mobile.
All this means increased loyalty, delighted customers and more revenue. Let’s
get started.
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1. FILTERED NAVIGATION
76% of customers say that the most important factor in a website’s design
is that it’s easy for them to find what they want. (Hubspot2)
On top of that, Forrester Research suggests that around 50% of potential sales
are lost because users can’t find information or products, and 40% of users
won’t return after a negative first visit3.
Making it easy for users to find what they’re looking for is doubly important in
B2B E-Commerce. Why? Because buyers are on the clock and keen to ensure
maximum productivity. The law of least effort absolutely applies. In other
words, buyers will choose the easiest, least painful way to reach a desired
outcome.
On a typical B2B storefront, products are complex and technical with many
attributes, descriptions and specifications.
2 http://blog.hubspot.com/blog/tabid/6307/bid/14953/What-Do-76-of-Consumers-Want-From-Your-Website-New-Data.
aspx#sm.0001lk5dmt5z8en4ztg24f48uu4jh
3 https://www.forrester.com/report/US+B2B+eCommerce+Forecast+2015+To+2020/-/E-RES115957
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9 Mus t- ha ve Ecom m e rce Fe a ture s for B 2 B Me rcha n t s
Filtered Navigation.
Take this category page from Staples, for example. In just a few clicks, users
are able to filter office chairs based on brand, price range, category, product
size and assembly requirements.
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9 Mus t- ha ve Ecom m e rce Fe a ture s for B 2 B Me rcha n t s
76% of B2B buyers listed Enhanced Search as one of their top three features,
with 48% of B2B sellers citing enhanced search as a top technology priority.
(E-Commerce & B2B4)
The key that unites both Filtered Navigation and a strong Site Search is to go
beyond manufacture’s attributes and tie your filters and product descriptions
to the kind of considerations most important to your target customer.
4 http://ecommerceandb2b.com/b2b-e-commerce-trends-statistics/
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9 Mus t- ha ve Ecom m e rce Fe a ture s for B 2 B Me rcha n t s
“I’ve worked with several ecommerce brands that built out filters focused
on a few key search phrases their customers were using but manufacturers
didn’t include. Because manufacturers have limited market data, we had
to create a database of these attributes internally by tracking the top
search terms onsite as well as doing keyword research through Google.
With a part supplier we added an entire filter just on compatibility with
specific “Models” and saw over 20% increase in conversion rate the
month that went live.”
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2. CUSTOM PRICING
While the vast majority of B2C shoppers are content to buy and re-buy products
at fixed prices, B2B E-Commerce demands custom pricing.
This means maintaining and presenting multiple price lists to reflect things
like order volume, length of relationship (first-time versus repeat customers),
product customization, payment schedules, shipping terms and more. And
that’s where things can get incredibly overwhelming.
Every B2B organization will have several “Customer Types,” each of which
require different pricing levels.
For example, customers who purchase at retail versus wholesale price points—
both of which apply to B2B E-Commerce—are two separate “Types” and it’s
vital to make sure they see the price that applies to them.
To do this, display your retail prices publically on the front end of your website
while setting up wholesale prices that are only accessible through a login.
Setting up Customer-Type pricing means linking your CRM and order history
directly to each customer, something your organization most likely does
already. This way, when returning customers login to your website, they see
their own pricing information across all products instead of just the products
they’ve ordered previously.
With the multiple-storefront feature, you can go one step further than
customer-type pricing, by offering products on completely different stores all
sharing the same master inventory catalog. This allows you to set up store-
specific product catalogs, shipping rules, currencies, and, of course, prices.
All the multiple stores in one account can be controlled from one admin
dashboard.
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9 Mus t- ha ve Ecom m e rce Fe a ture s for B 2 B Me rcha n t s
Advanced pricing that includes quantity price discounts is their simple way to
create custom, B2B pricing. Quantity pricing allows the store owner to set up
“rules” that changes the pricing if a certain quantity is ordered.
A good example of this feature is that you can set a product to sell for a certain
price for 1-4 qty ordered, but different for 5+. In this case, you would simply
make a pricing rule for starting quantity at 1, then another rule for starting
quantity at 5.
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3. BUILT FOR B2B SECURITY
The easy answer is because 13% of buyers say they’re most likely to abandon
their cart due to security concerns. (Visual Website Optimizer5)
And that 13% is nothing compared to the horror stories we’ve all heard about
data breaches and its impact on businesses.
Just like any E-Commerce business, B2B buyers have to be able to trust your
organization to securely handle their payment details and sensitive business
information. In fact, security matters all the more for B2B providers due to the
scale and sensitivity of the data being transferred.
Add to this the fact that users typically visit your store from the corporate
workplace—where security requirements and restrictions are stringent—and
security takes another huge leap forward in prominence.
First, you need to make sure your website is PCI compliant. Compliance with
this set of requirements will ensure that all customer credit card information is
stored in a secure environment and can’t be breached.
You should also look to implement a high level of data encryption to keep
other sensitive information safe. In simple terms, this means that data is
changed into an unreadable state by using algorithms or ciphers, meaning it
can’t be read by malicious third parties.
5 http://cdn2.hubspot.net/hub/310840/file-2031207983-pdf/VWO_eommerce_report_new.pdf
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4. CUSTOMER SPECIFIC CATALOGS
And for good reason. Econsultancy found that 94% of businesses say
personalization is critical to their success.6
“When you start thinking about how many types of personalization there
are, it becomes clear just how big the minefield is that we’re about to
start tentatively feeling our way through.
6: econsultancy.com/blog/62583-94-of-businesses-say-personalisation-is-critical-to-their-success/
7 http://ecommerceandb2b.com/use-personalization-b2b-e-commerce/
8: /foundrmag.com/now-its-personal-why-personalization-is-key-to-ecommerce-success/
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5. QUICK-ORDERING FEATURES
B2B buyers in particular value speed, convenience and efficiency. The quicker
you can make it for them to place their order, the better your chance of holding
onto their business for the long-term.
One is to give your customers the option to create ‘Saved Carts’ for quick
reordering. They simply build up the cart once, and (after checkout) can save
it right in their account. The next time they need to place an order, they simply
load up their Saved Cart, and are ready to checkout.
Even better, when customers create Saved Carts you can send them targeted
email reminders based on their product’s lifecycle, adding to your E-Commerce
personalization.
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9 Mus t- ha ve Ecom m e rce Fe a ture s for B 2 B Me rcha n t s
Another method is through quick-order forms. These let clients who know
their product codes add them from one convenient spot. This stripped-back
E-Commerce experience is a lot less visual but it also takes away a lot of the
leg work for your clients in terms of navigating your catalog pages and finding
the products they need.
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6. BUSINESS ACCOUNT SUPPORT
70% of B2B buyers buy by committee, with at least two decision makers.
And 30% of transactions include more than five decision makers. (Frost
and Sullivan9)
In the world of B2C E-Commerce, you’re typically dealing with a single purchaser.
In B2B, there are often many more parties involved—and this is particularly the
case for larger enterprises, where you could be working with multiple contacts
who each wish to make their own orders.
Of course, creating dozens of individual user accounts with no tie back to the
business itself is equally unsatisfactory.
That’s why you should combine the two where possible. Provide multiple user
accounts, but have them all sit ‘inside’ that one business entity account.
This allows you to set appropriate permissions and display the right products
and pricing to all users, while being able to manage that business account in
its own right.
9 http://ecommerceandb2b.com/b2b-e-commerce-trends-statistics/
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7. ADVANCED SHIPPING & FULLFILMENT
Second, you should also provide a number of shipping options for buyers to
choose from. This includes both price ranges and time frames.
Third, your platform should automatically pull live shipping rates from major
shipping providers—FedEx, UPS, USPS and DHL. Set up shipping rules based
on weight, cost, number of items, unique items and geographic regions. This
will also mean you can trigger free shipping at certain thresholds.
And what about the all-important task of actually fulfilling your orders?
10 https://blog.kissmetrics.com/5-ecommerce-stats/
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8. MULTIPLE STOREFRONTS
We’ve already touched on the role multiple storefronts can play in pricing, but
that’s not all. You can use multiple stores to dominate search results, appeal to
specific demographics, test markets and extend your online presence.
The idea behind this feature is that you can have multiple—ideally—storefronts
that are all administered and managed from one admin console with a single
dropdown menu to toggle between them.
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9 Mus t- ha ve Ecom m e rce Fe a ture s for B 2 B Me rcha n t s
You can then give buyers access to multiple stores or limit them to a single
store, depending on their needs—delivering a highly relevant and tailored
experience without draining all your time.
To run multiple stores smoothly, you’ll need an E-Commerce platform that can
handle inventory, design, and management. Using one centralized backend
that manages everything—inventory, shipping, site designs and orders—is
crucial to ensuring consistency across your stores.
With Spark Online Store’s multiple storefront option you can easily “leverage
your investment of time, integrations, store settings, infrastructure and product
catalog without sacrificing unique designs, capabilities and customization.”
This approach is even more vital with B2B sellers who run a wholesale
website but also want to launch a retail storefront. You’d also be able to sell
internationally through separate storefronts, each with their own currencies,
country rules, shipping rules and more.
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9. CUSTOM PAYMENTS
This last must-have feature is all about the money. The rule is straightforward:
“The more options you have for accepting payments, the better chances you
have to close the sale.”
The average business uses checks 50% of the time to pay other businesses—
down from 74% in 2007 and 57% in 2010. (AFP Online11)
Another wrinkle that adds complexity with B2B transactions is working with
multiple decision makers. That means there is often the need to have purchase
approval from multiple sources. All of these “chefs in the kitchen” delay the
speed at which you receive your money, unless your store is setup to meet
these challenges.
To do that, ensure that your B2B store is equipped with the ability to provide
invoicing and purchase orders both online and physically. You must also be able
to accept checks, money orders, credit cards and secure third-party payment
options like PayPal and Google Wallet.
11 http://www.afponline.org/epayments/
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9 Mus t- ha ve Ecom m e rce Fe a ture s for B 2 B Me rcha n t s
The good news is that Purchase Order Information can be stored the first time
it’s entered by the buying company, so it can be accessed for later purchases
without needing to be completed each time.
Tax is also a significant factor and you’ll want to choose a platform that lets
you set up tax exemptions. The best-case scenario is a solution that allows you
to “set it and forget it.” Handling all this manually can create a real time sink
for your business.
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CONCLUSION
These nine must-haves will guide you through navigating the platform you
choose:
1. Filtered Navigation
2. Custom Pricing
3. Built-for-B2B Security
4. Personalized Catalogs
5. Quick-Ordering Features
6. Business-Account Integration
7. Advanced Shipping & Fulfilment
8. Multiple Storefronts
9. Custom Payments
All of the features we’ve outlined in this White Paper are included in Spark
Online Store’s comprehensive B2B solution. To find out more, visit
www.sparkpay.com or start a free trial with no credit card required!
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APPENDIX
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