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Key eCommerce to improve customer satisfaction and retention

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Sep 4, 2020 11:00:00 AM
Key eCommerce to improve customer satisfaction and retention

Implementing a new sales model through a B2B eCommerce platform presents many opportunities to increase sales and better retain customers. Why? From a customer perspective, the ease and convenience of digital commerce equates to better satisfaction, which in turn motivates them to buy more. For its part, from a commercial perspective, digital allows the commercial area to work more efficiently and direct its efforts with the aim of increasing revenue.

As has been said many times: the demand for B2B buyers is growing rapidly and constantly, in fact, B2B commerce is almost double that of B2C. B2B eCommerce experiences are improving at a very good rate, and it is a challenge for organizations to keep up with what buyers want. Now when we talk about B2B sales strategy, do you have any idea what is really at risk?

According to data from PwC they indicate that:

  • Online shoppers would pay up to 16% more for a better overall shopping experience.
  • 52% would pay more specifically for greater speed and efficiency in the process.
  • 43% would pay more for greater comfort with eCommerce experiences.

So much so that even the smallest optimization in eCommerce shopper experiences has been shown to improve shopper retention, increasing shopper satisfaction as well as cross-selling.

Here's a look at the sad reality:

  1. Online customers are not satisfied: according to Digital Commerce 360, 35% of online customers consider that the general experience with B2B eCommerce is bad or very bad, against only 11% who consider it excellent. The remaining percentage of B2B eCommerce experiences we can say is in a gray area in the middle of the previous ones: not entirely terrible, but it is not close to how it should be.

    Almost half of all B2B buyers conduct B2B transactions at least once a week, which means that if their eCommerce experience is bad, 47% of the online customer base would be having a frustrating online experience. at least 52 times a year.

    You must ask yourself: how often do I disappoint my clients? Do you expect them to tolerate it?

    The sad answer:

    According to data from PwC, 1 in 3 buyers would leave an eCommerce or a brand, even one with which they are really identified, after having a single bad experience.

    So, it's time to strengthen your organization's eCommerce strategy, the outcome of your B2B sales strategy depends on it.

  2. Your business may be threatened:

    Some recent research on B2B ecommerce indicates that the number of companies using the eCommerce model to support digital transformation has increased from 73% to 87% since 2017. It was said that many companies had plans to invest in improving their digital architecture of ecommerce and close to 90% planned to do so in the next five years, it is clear that this changed and took a lot by surprise in this new reality that we face where we have been forced to migrate to the digital world without being prepared.

    So, what to do?

    Obstacles such as more competitors, changing markets and mainly current circumstances at a global level have put companies to the test, forcing an adoption and evolution of eCommerce by B2B companies and it is clear that in the immediate future we will have greater challenges.

    By adopting an eCommerce model, B2B organizations are clearly going in the right direction as this helps to improve the customer experience. But the adoption of this model must be done before it is too late.

    It is time to take a step forward in your B2B sales strategy.

  3. Improve ecommerce and B2B sales strategy:

    Is your organization losing customers online?

    Do you want to increase sales?

    Are they reaching buyers inefficiently?

    A robust B2B eCommerce platform is one the answer to the online sales problems facing your organization. Now, if they have an inefficient eCommerce or they do not have it at all, it is most likely that they will have a negative impact on the bottom line especially in current times.

    So, they want to rethink the way they are managing the B2B model, they should focus on:

    • Customer experience (UX and web performance)
    • eCommerce platform / architecture investment
    • Innovation

     

    It is clear that customer satisfaction is key and it is essential to have the aforementioned points very present in terms of customer retention since an important data indicated by a Bain & Co research "The Economics of E-Loyalty", says that: "increasing customer retention rates by 5 percent increases profits from 25 to 95 percent."

    Likewise, to have some additional elements that will help you in this analysis process, we invite you to download this ebook called: "Improved commerce capabilities make your brand grow".

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Customer Experience Insights is a blog to share ideas, experiences and the vision of how to adopt better Customer Experiences in our organizations.

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