the five secrets of b2b commerce success
TRANSCRIPT
Going rogue is in vogue.
The Five Secrets of B2B Commerce Success Why make the extra e� ort when it comes to B2B commerce? After all, aren’t procurement pro-fessionals in this type of business driven by rational arguments, used to their set channels, and eager to be able to just check the boxes in a list of items to (re)order?
Well, not really.First of all, the B2B market is huge. Let‘s take a few � gures from the US by way of illustration: the B2C market in the US is worth 4 billion dollars but the B2B market is considerably bigger at 7.2 billion. That‘s 7.200.000.000.000 dollars.
Impressive, isn‘t it?Technological progress is enabling us to work ever more e� ciently. Sales sta� used to walk every aisle in the store to help us with our purchases. Now, this is pretty much a thing of the past with salespeople hidden away in o� ces staring at computer screens. In some cases, there isn’t even a physical store any more because the business operates online only.
Do you still remember the mobile grocer that came down your street in his truck? He knew you by name, knew how you and your kids were doing, what your favorite recipes were, and he
never felt put out if you wanted a special order. Remember how he was able to tell at a glance how your day was going? That man made you feel good.
But, you might be tempted to think technological progress is still great, right?Technology opens a lot of doors. Except, what does that currently look like in real life? We’re happy if our name is displayed when we log on to a website and are “categorized” as a “business” or “personal” customer, as though the world consisted of only two types of people. The mobile grocer knew better.
But who is this B2B buyer then?Intershop commissioned Forrester Consulting to carry out a survey of 1.500 companies around the world, from Germany and France to Australia and the USA. All of these companies have a sta� of over 500. The survey involved questions about how buyers in these kinds of companies go about purchasing di� erent goods.
The conclusion of this research?B2B buyers are normal people just like you and me. Normal people whose minds work the same way as those of “regular” consumers shopping at their local mall.
So is a B2B buyer receptive to ad hoc incentives? YES! Does a B2B buyer have preferred brands? YES! Does a B2B buyer prefer to buy from someone he/she likes? YES!
1 We also refer to this as the consumerization of B2B commerce. Or to put it another way, the B2B buyer looks a lot like the B2C buyer. After all, they‘re the same people and the same B2C marketing psychology applies.
2 Just like the mobile grocer automatically knew what tone to strike with you and what products to recommend, all your channels including those online, should also be presenting precisely the same content that is relevant. In other words, don’t show women‘s clothing ads to men or baby food ads to the elderly. Relevant content in the right context and form is king.
3 Boost your likeability factor! The feeling, the emotion that the customer experiences when he/she hears your (company) name is the deciding factor. Customer Experience is about generating a positive overall feeling. It’s what enables you to build authentic, close relationships.
4 Your customers are susceptible to being in� uenced in myriad ways that give them an impression of your brand/company and a certain feeling about it. These potential opportunities to in� uence the customer, from brochures and e-mail to discussing things in person, are collectively referred to as the customer journey. It‘s just like a chain: only as strong as its weakest link. Customers are judging you all the time and everywhere!
5 Now that you know the B2B market is big, that the B2B buyer is a normal human being, that you therefore have to engage in personal communication with him/her so as to generate positive emotions on every possible occasion, it‘s time to take action! And if we now tell you that the ultimate key to success is to ACT, then you‘ll know what you have to do. Now. No excuses.
Why make the extra e� ort when it comes to B2B commerce? After all, aren’t procurement professionals in this type of business driven by rational arguments used to their set channels and eager to be able to just check the boxes in a list of items to (re)order?
1 My customer is a company or organization A B2B organization comprises of several users and often has di� erent delivery
addresses and perhaps di� erent invoicing addresses as well.
2 Buyers have di� erent roles The business users of a B2B platform often have more than one role, e.g.:
Buyer, the person who requests the quote or places the order; Approver, responsible for approving the purchase order; Accounts administrator, responsible for managing various aspects of the customer
organization such as, addresses, users, user rights, budgets, etc.
3 Comprehensive customer registration and approval It is often the case in B2B scenarios that signing up a new customer is not
straightforward. The new customer organization � rst has to go through a registration and approval process requiring the submission of various documents such as, proof of registration with the Chamber of Commerce, proof of identity, etc.
4 Customer-speci� c product ranges In many B2B companies, the customer only has access to a subset of the product
range. It‘s even possible that part of the catalog has to be hidden behind a secure log-in.
5 Order templates and repeat orders Business customers frequently order in larger quantities, often according to the same
recurring patterns. Order templates are used to make life easier for the customer.
6 Customer self-service Based on his/her role in the organization, the professional user will require a concise
overview and quick access to relevant data from your organization. Consider the following:
An overview of orders and the order status Information on budgets and credit limits Order templates or customer-speci� c product ranges Quote processes Invoicing and credit information Returns, complaints, and incidents To-do lists & pro� le management
7 Supporting franchise or dealer organizations How do you organize online purchases throughout the demand chain? B2B2C
commerce is a hot topic.
8 Customer-speci� c pricing and complex pricing rules Customers often have special contractual agreements and prices are frequently set
on the basis of complex pricing rules outside of the e-commerce platform. Often the ERP system (typical examples include SAP, Microsoft Dynamics, Infor M3 and Exact Globe) serves as an external price provider. The organization has already invested heavily in automating customer-speci� c pricing and will not want to replicate this functionality in the e-commerce system.
9 Quote and order procedures In more complex online sales situations, it is sometimes necessary to initiate a quote
procedure prior to being able to proceed with an order. Orders may also need to be approved by the account manager � rst.
Twelve in-demand B2B features
10 Special logistical requirements B2B situations can involve a wide array of packaging units and types. The various
methods of shipment, rates and times will need to be adapted accordingly.
11 Punch-out catalogs and open catalog interfaces Larger organizations have an internal SAP or Ariba-based purchasing system and
want access via that system to your online catalog to streamline the placing of orders.
12 Customer-speci� c branding Special customers deserve special treatment. Customers will feel at home within your
online order system, if it gives them the feeling that it‘s a part of their own organization. Use of the customer‘s own logos and colors creates a trusted environment and closer bond.
Intershop stands for innovation and success in B2B commerce. As a pioneer, Intershop has been driving and shaping the development of e-commerce since 1992, giving it unrivaled experience. Many businesses rely on Intershop‘s business-to-business solutions and bene� t from this experience such as, HP, KPN, Bouwmaat, IgoPost, MidOcean-Brands, Styrolution (BASF – Ineos), Merck Millipore, Intronics, MS Schippers, Wildkamp, RajaPack, Würth and Xerox.
These companies use our Intershop Commerce Suite to sell goods and services to business customers and partners via the Internet.
A worldwide team and a robust global partner network ensure that we provide you with � rst-class service at all times. Whatever your ambitions may be, Intershop is the ideal partner for online commerce. After all, Intershop is e-commerce.
Adam BurkeDirector Business Development N.A.
Phone: +1 [email protected]
Timothy CochranBusiness Development N.A.
Phone: +1 [email protected]
For further information, see www.intershop.comCall or e-mail us for a chat and/or a demo: