The B2B e-commerce space is a competitive one. One of the impacts of the recent pandemic is that B2B companies were forced to turn to e-commerce as a way of continuing to trade through lockdowns. For those that have now established an online presence, a key goal is to increase sales through the acquisition of new customers.
However, there are times when this can be a little tricky and some B2B e-commerce leaders may find themselves unsure where to turn. We’ve got some top tips to help you find new customers, expand your reach, and improve your sales.
In the B2C world, companies have long understood the benefits of a social media presence. They use this as a way of laser targeting their ideal customer and then displaying a series of offers and promotions that prove irresistible. The truth is that those operating in B2B need to be doing the same.
LinkedIn is the place to be for your B2B e-commerce platform. Research shows that by taking the time to understand how you can use social media effectively, you can increase your B2B sales by an impressive 16%.
Explore welcome offers
With global B2B sales worth an astonishing $14 trillion a year, when buyers come across your site you need to give them a great reason to give you a go. There are so many competitors out there so you need to be very persuasive so that you’re given the opportunity to shine.
A welcome discount can be highly effective here. It can provide that little nudge that a buyer needs. All you then need to do is deliver and show what makes you better than your competitors. This will lead to them returning to your site for future purchases too.
Your existing customers already know what a great job you do. They’ve already been through the buying process and they know exactly how you work. Why not tap into these happy customers and utilise them to bring more your way? Of course, you’ll need to offer them an incentive for their help.
You can reward your customers for each new business they bring your way. This could be in the form of a discount on their next purchase or you could offer some other financial incentive.
Offer flexible payment terms
Businesses need to protect their cash flow. That means that part of their buying decision will involve looking for payment terms that suit them best. Having the ability to offer a Buy Now, Pay Later solution can really help to increase your customer count and make you stand out.
Not all B2B e-commerce providers have the ability to offer credit, but that’s where we come in. At Hokodo we offer a seamless solution that allows your customers to opt to use credit at the checkout. We provide the credit, you get paid upfront, and your customers are happy. What's not to love? Get in touch to book a demo and let us show you exactly how it works.