Business-to-Business (B2B): The transaction that takes place in the supply chain is rapidly turning digital. The supply chain in B2B involves a transaction between manufacturers and wholesalers or wholesalers to retailers.
While earlier the B2B transactions had started growing on the internet, the pandemic years of 2020-2021 have contributed to its drastic growth. The internet has provided a strong foundation for online marketing for B2B eCommerce.
But, along with opportunities, the Internet is also bringing competition. The competition for generating enough traffic and converting it is proving difficult for B2B e-commerce.
Why there are Difficulties and Opportunities in Trends for the B2B Market?
Growing competition is resulting in rapid changes in the trends of B2B markets. The companies are advised to take up B2B e-commerce marketing strategies to cope with the competition and generate conversions.
Top 7 B2B Ecommerce Internet Marketing Techniques
According to statistics, 7 out of 10 B2B salespeople confirm that they are doing more sales virtually. Hence, a B2B e-commerce strategy is necessary for any online business. Below, we have listed the top 7 B2B marketing techniques to increase conversions:
1. Build Professional Relation with Customer in form of Improving LTV
LTV is the amount of money your business will gain from the customer in their lifetime as a customer. LTV is very useful analytics for e-Commerce. It provides long-term value for e-commerce by considering every sector of e-commerce. It is implied that selling products to existing customers results in a higher profit than selling to new prospects.
Hence, LTV brings profits by targeting the existing customers. The conversion marketing strategies should focus on returning customers. It is done by engaging with the customers through different engagement points like newsletters, recurring subscription payment methods, and ultimately making customer service a priority.
2. Improvise in Product and Service Details
i. Be Clear with your Product & Service
In B2B e-commerce, buyers want detailed information about products and services. Through your online store, they would expect to learn more and more about the product to predict if it’s the right fit for what they want. Hence, you should structure and redesign your website from time to time. The website should be compelling enough to keep the buyer engaged. Keep your landing pages clear, respond quickly and add categories to the products.
ii. Content Optimization
In B2B, content optimization helps your website ranks higher and helps your potential buyers to learn details about the products. A firm e-commerce marketing strategy for SEO (content optimization) helps you reach customers who are not even searching for your brand.
3. Use Email Marketing
In B2B e-commerce marketing strategy, email marketing is an important segment. It is also the best way to reach your existing customers and offer them loyalty discounts or recommendations. Effective email marketing is a blend of emails at different stages of customer interaction.
Through email marketing, companies can reach their customers with different types of emails like welcome emails, a reminder to purchase the items in their carts, and payment confirmation emails. This technique eventually nurtures potential clients and customers.
4. Use the A/B Testing Method to Find Your Audience
In the B2B marketing strategy, A/B testing helps you strategize better to reach a larger audience. In A/B testing, two or more versions of the same content are created and shared proportionally with the audience. After sharing, the performance of both versions goes through a test on different indicators.
It presents the analytics of which content has the highest performance and a strategy for further content. Through this, you can find and optimize your target audience for better lead generation.
5. Usage of Social Media for Awareness
Social media is proving a boon for B2B e-commerce marketing. E-commerce gets two very effective aids from social media. First is engagement with the audience, and second is awareness of the trends. It helps companies to adjust their services according to the needs of the audience.
Engagement with the audience allows brands to learn about their demands and also helps lead generation. Awareness of trends on social media aids businesses in reaching a larger audience and attracting potential customers.
6. Do Paid Promotion
B2B businesses are leveraging Facebook effectively. It brings great opportunities for e-commerce marketing through paid promotion and Facebook ads. Facebook offers a large user base to businesses.
With the right ad placement, targeting the right audience, format of the ad, off-Facebook user experience on your website you can increase conversions. Paid promotions help you reach the audience who are searching for products and services related to your business. It works through paid text and the correct keyword placement in your ad.
7. Increase Your Online Review
In B2B e-commerce marketing, review and testimonial work wonders. The vendors and businesses in B2B transactions often go through the reviews and testimonials for large orders. Customers are more likely to purchase from a business with a positive review. In the case of e-commerce, reviews and testimonials are the only sources to learn about the product.
Hence, invest in increasing your positive reviews by optimizing the UX of your website for people to read and post reviews. You can also publish customer testimonials on your websites.
The growth and reach of e-commerce depend on its B2B marketing strategy. The competition to reach the right audience is very high. E-commerce faces a lot of challenges to keeping pace with the competition. With the above-listed marketing techniques, you can surely increase conversions. In B2B marketing, trends and internet algorithms are constantly evolving. Hence, you need a broadB2B marketing strategy to grow your conversions.