DRIVING B2B SALES IN THE AGE OF DIGITAL

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1 DRIVING B2B SALES IN THE AGE OF DIGITAL

2 DRIVING B2B SALES IN THE AGE OF DIGITAL WE RE ON THE CUSP OF A GENERATION SHIFT IN B2B PURCHASING. As Business-to-Business (B2B) buyers are exposed to innovative online consumer experiences (think: Amazon), they re demanding a more digitized, multi-channel environment in which to research and make B2B purchases. Buyers who were once content with browsing an annual big-book catalog and purchasing via fax and phone are now increasingly familiar with web portals that enable them to view product information, assign purchasing roles and limits, and track fulfillment of orders across channels. And although adapting your business to meet these changing buyer expectations will require digital investments, the results pay dividends: higher sales volume, average order value, and customer satisfaction all with less effort and errors than ever before. This B2B ecommerce whitepaper outlines the game changing approaches forward thinking B2B companies are taking to meet B2B customer demands for simple, transparent, and efficient product discovery, purchasing, and fulfillment, and what you can do to lead the field.

3 DRIVING B2B SALES IN THE AGE OF DIGITAL WANT TO DRIVE DIGITAL B2B SALES? HERE ARE YOUR B2B ECOMMERCE INITIATIVES: Personalize the administrative and purchasing preferences of B2B customers. Create sales opportunities by triggering sales promotions based on customer buying behavior. Optimize repeat purchases using quick-order portals, order history, and automation. Provide visibility to order, inventory, and fulfillment from a single interface. Accelerate product discovery and purchasing using online quoting systems. Reduce shipping costs while increasing on-time delivery rates by synchronizing inventory across channels and fulfillment centers. Enhance billing and support by providing access to account history, billing, and returns across channels. Add additional revenue by merging business and consumer purchasing onto one unified platform.

4 B2B ECOMMERCE INITIATIVE #1: ENGAGE YOUR CUSTOMERS WITH A MODERN INTERFACE (PERSONALIZED, SELF-SERVICE PURCHASING) INCREASE SALES IMPROVE CUSTOMER SATISFACTION BOOST EFFICIENCY REDUCE CUSTOMER SERVICE HOURS Lock in Loyalty: Offer personalized, self-service account portals with financial, inventory, and fulfillment visibility. SELF-SERVICE ACCOUNT MANAGEMENT Allow managers to define and administer accounts, including user specific roles, budgets, permissions, and approval workflows. PERSONALIZED PRICING Make pre-negotiated pricing and payment terms available at the company, department, or individual user level. Offer predetermined volume pricing and aggregate purchase incentives on a monthly, quarterly, or yearly basis. ADVANCED INVENTORY AND SHIPPING Assign buyers to a primary warehouse based on proximity and display specified size and weight shipping carriers; When products are out of stock at the primary warehouse, offer the option to purchase from a secondary warehouse. Once a purchase is made, provide accurate shipping estimates, order status updates, and tracking links. ORDER AND PAYMENT HISTORY Show order history, paid & outstanding invoices, and submitted purchase orders.

5 B2B ECOMMERCE INITIATIVE #1: ENGAGE YOUR CUSTOMERS WITH A MODERN INTERFACE (CONTINUED) INCREASE SALES IMPROVE CUSTOMER SATISFACTION BOOST EFFICIENCY REDUCE CUSTOMER SERVICE HOURS Facilitate Lightning-Fast Decisions: Streamline self-service purchasing with progressive, fluid, intuitive search and multi-channel visibility. INTELLIGENT SEARCH, FACETED NAVIGATION Analyze your buyers interactions and refine their search results based on past searches, pricing, and availability. Focus searches by category, attribute, price, color, manufacturer, etc. MULTI-CHANNEL VISIBILITY Create custom views & applications for tablets and smart phones.

6 B2B ECOMMERCE INITIATIVE #2: ENGAGE YOUR CUSTOMERS WITH A MODERN INTERFACE (QUICK, RECURRING PURCHASING) GAIN BRAND LOYALTY INCREASE ORDER SPEED INCREASE RECURRING ORDERS INCREASE ORDER VALUE Personalize the Experience: Tailor buyer workflows for efficient bulk and recurring purchasing. CUSTOMIZED PORTALS Simplify the login experience by eliminating unnecessary steps; customize your buyer s workflows and dynamically display their products and content. SELF-MANAGED LISTS, SCHEDULED RE-ORDERING Give your buyers the ability to add frequently purchased items to a favorites list for one-click ordering, schedule items for automatic re-order, and add out-of-stock items to wish list. UPSELLS, CROSS-SELLS, PROMOTIONS Offer pricing promotions (flash sales, shipping promotions), and display product recommendations based on purchase history. BULK ORDERING, DISCOUNTING Offer bulk ordering list views for configurable products or kits, and offer volume price breaks at the product, product kit, or attribute level. WANT THIS EXPLAINED LIVE? CALL MIVA

7 B2B ECOMMERCE INITIATIVE #3: ENGAGE YOUR CUSTOMERS WITH A MODERN INTERFACE (COMPLEX PURCHASING) IMPROVE CUSTOMER SATISFACTION REDUCE CUSTOMER SERVICE HOURS DECREASE AVERAGE ORDER TIME INCREASE AVERAGE ORDER VALUE Make the Complex, Simple: Help your buyers make complex purchasing decisions by expediting product research, quoting, and approval. EXPEDITED PRODUCT RESEARCH Display how-to videos, FAQs, peer-driven product reviews & ratings on each product page. REAL-TIME PURCHASE APPROVAL Provide managers a summary of product specs and purchase order amounts. CONFIGURABLE PRODUCTS 3 1 Front 14 in. When offering configurable products, provide detailed CAD drawings and product attribute selection using radial buttons or dropdowns. 2 2 Depth 3 Back 4 Center COMPLEX PRODUCTS Give buyers the ability to build and manage complex quotes by defining product specs and selecting attributes; your sales reps can log-in shop-as-customer to provide additional sales support Inner Ear 6 Outer Ear ADD TO CART

8 B2B ECOMMERCE INITIATIVE #4: DELIVER MULTICHANNEL SUPPORT (OFFER A 360 CUSTOMER VIEW) REDUCE CUSTOMER SERVICE HOURS IMPROVE CUSTOMER SATISFACTION BOOST EFFICIENCY INCREASE VISIBILITY Provide Visibility: Enhance your buyers experience using a fully-integrated, digitally enabled administrative and support portal. ACCOUNT BALANCE Show outstanding and available balances, terms. ELIGIBLE PAYMENT METHODS Offer standard or tax-exempt payments, checkout with a purchase order number, credit card, or ACH. RETURNS Enable self-service and assisted return management, online return authorizations. SALES & SUPPORT ENGAGEMENT Give buyers the ability to submit questions and support queries throughout the purchasing process. INVOICES & PAYMENTS Offer full or partial payment of single / multiple invoices.

9 B2B ECOMMERCE INITIATIVE #5: CREATE A COMPLETE CUSTOMER INTERACTION CYCLE (CRM INTEGRATION) IMPROVE CUSTOMER LIFETIME VALUE IMPROVE CUSTOMER RETENTION INCREASE SALES INCREASE VISIBILITY Deepen Engagement: Increase customer satisfaction (and drive sales) by creating a complete customer interaction cycle. BUILD CUSTOMER PROFILES Track your buyers behavior (online, in-store, and via call-center). INFLUENCE PURCHASING BEHAVIOR Create personalized promotions and upsell / cross-sell campaigns. IMPROVE CUSTOMER SATISFACTION & RETENTION Leverage real-time customer data to offer a consistent customer service experience across channels. DRIVE MERCHANDISING / MARKETING DECISIONS Generate reports based on buyer behavior and customer lifetime value.

10 B2B ECOMMERCE INITIATIVE #6: EFFICIENTLY MANAGE YOUR CUSTOMER DATA (ERP INTEGRATION) ELIMINATE DATA RE-ENTRY REDUCE OPERATIONAL COSTS BOOST PRODUCTIVITY OPTIMIZE ORDER FULLFILLMENT CYCLE Synchronize Data: Consolidate order data, order updates, product catalog, and customer data across your ecommerce and ERP systems. ELIMINATE RE-KEYING ERRORS Save time, lower administrative costs, and reduce stockouts and shipping errors caused by manual data entry. STREAMLINE UNIQUE ORDER PROCESSES Create intelligent workflows & approval processes for negotiated pricing and RFQ s (Request for Quote s). CONSOLIDATE PURCHASING AND INVENTORY ACROSS CHANNELS Get real time visibility across EDI, web, phone, partner, and point of sale orders.

11 B2B ECOMMERCE INITIATIVE #6: EFFICIENTLY MANAGE YOUR CUSTOMER DATA (CONTINUED) OPTIMIZE ORDER FULFILLMENT Efficiently implement change orders; handle customer specific packing notes, cancellations, and changes from a single source. CONSOLIDATE FINANCIAL STATEMENTS Create role-based views for sales, service reps, web-store & finance managers, fulfillment specialists, and executives. CORRELATE DATA IN REAL TIME Automatically update online orders / account changes with customer information, financials and inventory. WANT THIS EXPLAINED LIVE? CALL MIVA

12 B2B ECOMMERCE INITIATIVE #7: SYNCHRONIZE YOUR INVENTORY ACROSS CHANNELS & WAREHOUSES (WAREHOUSE MANAGEMENT INTEGRATION) INCREASE VISIBILITY REDUCE SHIPPING COSTS REDUCE STOCKOUTS IMPROVE CUSTOMER SATISFACTION Operate Efficiently: Increase the speed and accuracy of order fulfillment no matter how complex your inventory system becomes. OVERSEE WAREHOUSE FUNCTIONS View shipping, receiving, picking, and packing from a single source. FORECAST INVENTORY Get real-time inventory and projected demand levels, track sales and backorders to minimize your stockouts and obsolete inventory. SHIP FROM MULTIPLE WAREHOUSES, FULFILL IN-STORE Create exception queues and dashboards to monitor days of supply and stock-to-sales ratios. MANAGE SUPPLIERS AND 3PL (THIRD-PARTY LOGISTICS) PROVIDERS Audit 3rd party supply-chain performance, manage purchase orders, and deliver payments across multiple accounts. INTEGRATE 3RD PARTY CHANNELS Decrement your inventory levels across Ebay, Amazon, Rakuten, and Newegg.

13 B2B ECOMMERCE INITIATIVE #8: BUILD A B2C CHANNEL INTO YOUR EXISTING B2B SITE Add a B2C Channel: Open up new revenue streams with larger retail profit margins. Here s what to consider when combining B2C and B2B onto a single, unified platform: CHANNEL SEGMENTATION Display retail pricing to B2C visitors; wholesale pricing is only made available upon login. SPECIALTY PRODUCT REGULATION For B2C visitors, state or jurisdiction-based sales restrictions may apply. Configure your shipping settings to reflect this. CREDIT CARD PAYMENT PROCESSING Add a payment gateway and merchant account for B2C buyers. RETAIL SALES TAX MANAGEMENT B2C customers pay tax; this is based off nexus, and calculated at state or zip-code level. ARE YOU READY FOR B2C? CHECKLIST: Specialty Product Regulation Payment processing Retail sales tax Shipping calculations Customer support

14 B2B ECOMMERCE INITIATIVE #8: BUILD A B2C CHANNEL INTO YOUR EXISTING B2B SITE (CONTINUED) Add a B2C Channel: Open up new revenue streams with larger retail profit margins. Here s what to consider when combining B2C and B2B onto a single, unified platform: SHIPPING CALCULATIONS Offer real-time shipping rates, flat-rate shipping, and promotions to B2C buyers. SEGMENTED WAREHOUSING Implement a unique B2C fulfillment process (pick, pack, and ship, tracking). Subtotal Shipping Zip Code Country $ Estimate CUSTOMER SUPPORT Create order tracking and refund protocols via a fully-integrated, digitally enabled administrative and support portal. Tax TOTAL ESTIMATE SHIPPING $ CHECKOUT

15 DRIVING B2B SALES IN THE AGE OF DIGITAL CONCLUSION The challenge in vetting technology for B2B commerce is that all ecommerce products ranging in cost from free to millions of dollars ultimately facilitate a checkout experience. However, the goal of modern B2B web commerce (and modern ecommerce as a whole) is more complex than the ability to take orders online. Its purpose is to migrate inefficient, resource-intensive offline tasks to cost effective, self-serve digital environments which requires highly tailored digital B2B (and B2C) portals. Furthermore, a true enterprise ecommerce solution extends far beyond the front end purchasing experience and serves as a hub for streamlining operational efficiencies via customer relationship management, enterprise resource planning, and inventory / warehouse integration. When implemented properly, a flexible ecommerce architecture enables B2B businesses to gain a long-term competitive edge by driving sales and refining operational efficiencies. Since 1997, Miva has powered over $100 Billion in online sales for some of the most successful B2B and B2C brands in the world. SCHEDULE A DEMO Or Read Our B2B Case Studies: CROWN AUTOMOTIVE SEWING PARTS ONLINE

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