The success of a B2B eCommerce site depends on many parameters, but what is the most requested B2B feature selected by B2B eCommerce companies?
According to Forrester’s Choose B2B eCommerce Features That Matter: Where B2B Companies Are Spending Money In 2014, the top rated feature B2B eCommerce companies will be investing in is Related Products on Product Detail Page. 72% of the 155 companies surveyed agreed with that statement, and only 10% disagreed.
What are “Related Products on the Product Detail Page” exactly? It’s
an upsell or cross-sell feature, or a related product sell, all of which use
intelligence of the shopper’s purchase intent to increase Average Order
Value (AOV) or increasing the awareness of the entire product line of a company.
An example of related products is creating warranty as a related product when the customer adds a Plasma TV to their shopping cart.
B2B companies are finally adopting more B2C strategies. Many have evolved beyond the first simple transactional aspects of eCommerce. They have improved SEO and conversions. Now B2B eShops are focusing on more sophisticated strategies associated with marketing and merchandising.
This article on eConsultancy reports that B2B companies that have moved their ordering process online have increased their average order value (AOV) 44%. In addition, 38% of the surveyed company executives have said customers spend more online than in person or other transaction methods. At 81%, most respondents agreed that eCommerce increased average order value by about 31%.
The B2B experience is evolving in the same direction as consumer experience. When it comes to B2B sales, enabling self service and providing guided online selling is is a good approach as it improves the AOV. It also questions the believe that a live B2B sales person is going to necessarily sell more products than the eCommerce site. Many B2B sales people use their companies B2B eCommerce site as a sales and order tool.
The sooner that B2B firms learn that their customers do want to self-serve on their site, the better.
This certainly doesn’t suggest there is no place for the traditional sales person, only that their role will need to shift to more high value activities. And before they head out on that high value sales call, they may want to work with their eCommerce and marketing teams to coordinate what online merchandising are being cooked up behind the scenes to entice their customers.
In B2B commerce, clients in Cyprus nearly always have customized pricing. As a B2B eCommerce business owner make sure that your eCommerce platform is able to handle confidential, individualized pricing. This is generally achieved through the creation of protected secure zones, only accessible to approved clients by the merchant.