Ecommerce Archives - Cloudfy B2B Ecommerce Software https://www.cloudfy.com/category/ecommerce/ B2B Solution to Simplify, Save & Scale Mon, 23 Dec 2024 11:53:27 +0000 en-US hourly 1 https://www.cloudfy.com/app/uploads/favicon.jpg Ecommerce Archives - Cloudfy B2B Ecommerce Software https://www.cloudfy.com/category/ecommerce/ 32 32 B2B Sales Optimization: Converting Cart Abandoners into Loyal Customers https://www.cloudfy.com/articles/b2b-sales-optimization-converting-cart-abandoners-into-loyal-customers/ Thu, 10 Aug 2023 10:10:54 +0000 https://www.cloudfy.com/?p=48047 Business to business (B2B) buying habits are changing and headless B2B ecommerce will help you keep pace. There are so many new ways to access … Read More

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Not every B2B buyer will complete their online purchase. In fact, as many as seven out of 10 might leave without selecting the all-important ‘buy’ option. Anything you can do to help them complete their buying journey will make your buyer’s life easier and increase sales.

With Cloudfy’s powerful B2B ecommerce functionality you can convert website visitors who don’t immediately complete their orders into loyal customers.

With easy ordering tools those abandoned carts can turn into valuable sales. Cloudfy’s efficient, error-free, and straightforward ordering experiences increase conversions, customer satisfaction and retention.

Automated processes can immediately send emails and offers to help you complete more deals. Cloudfy’s B2B ecommerce software comes with out-of-the-box B2B ecommerce features and processes designed to build client relationships and long-term business.

Table of Contents

Why customers abandon carts?

why customers abandon carts

Many abandoned carts are simply a symptom of how users browse B2B ecommerce sites. Many aren’t yet ready to make a purchase. They are carrying out research, making price comparisons, saving items for later, and looking for offers.

However, studies show other significant reasons for abandoned carts include compulsory registration before purchase and complex checkout processes. Unexpected shipping and other costs, slow delivery timescales, unsatisfactory returns policies and limited payment options can all have an impact.

Simply changing some of your terms and conditions could improve conversion rates. Other options include discounts, tailored payment options, and loyalty rewards.

When you take a complete view of your buyer’s journey you can add key measures to encourage immediate purchases. You’ll reduce abandoned carts and increase repeat sales.

How to reduce abandoned carts?

To reduce abandoned shopping carts, optimize the user experience by simplifying the checkout process, minimizing distractions, and offering guest checkout. Implement clear and transparent pricing, provide visible trust signals like security badges, and offer multiple payment options. Utilize retargeting emails to remind users of their items, along with personalized incentives such as discounts or free shipping. Enhance mobile-friendliness and site speed to cater to different devices and preferences. Implement exit-intent pop-ups with enticing offers, and continuously gather and analyze user feedback to improve any pain points. Regularly test and refine these strategies to create a seamless shopping journey and decrease cart abandonment rates. Check the most vital parameters below.

Streamline checkouts

Streamline checkouts1

When they make their business purchases B2B buyers expect high-quality purchasing experiences to match their personal online shopping journeys. Most follow the same steps. They visit product pages, select items, go to the cart, and review their choices, shipping, billing and payment information. Finally, they confirm their order, make their payment, and receive an acknowledgement.

All these steps are needed to complete an order but there are a lot of opportunities to improve the experience for your customers. You can increase your sales by minimizing delays, reducing multiple click-throughs and removing barriers.

Offer discounts

Offer discounts

You probably have a carefully planned pricing structure so you might feel discounts are a problem. However, when you want to encourage a new customer to make their first purchase they can be helpful. Afterall, you’ll need to capture information about them, their shipping requirements and payment preferences before they buy. A ‘welcome’ discount can encourage them to complete the process and register instead of abandoning their cart.

Discounts can reward loyal customers for every tenth purchase, for example, or when they order a certain number of products. Returning visitors will appreciate receiving an unexpected discount when they place their order. You can add a pop-up message to tell them you value their custom. It could be all they need to complete their order quickly. It might even encourage them to buy more or complementary items.

When you can easily apply custom pricing rules you’ll encourage your buyers to place more online orders. You can show them their own contracted prices along with relevant discounts. You can control pricing from your integrated enterprise (ERP) system or directly from a purpose designed B2B platform like Cloudfy.

Bundle offers

Your buyers want to place bulk orders. When you understand their buying history you can offer them special offers for bundles of their most frequently bought items. Easy product listing templates can define the different types of products, single products, bundles or selectable items. You can showcase more complex product information or sale and promotional items. It’s the perfect way to reduce your abandoned cart rate and increase average order values.

Recommend related products

You’ll further reduce your abandoned cart rate when you provide helpful information about products frequently bought together. Your buyers are busy, so they’ll appreciate your help in reducing the additional searches they must make for related items. Cross-selling can encourage them to buy products they might not know you provide, helping you to build customer loyalty. Upselling and cross selling are both effective ways of converting your visitors into customers.

Run a loyalty program

Run a loyalty program

It will cost you much less to retain your existing customers than win new ones. Prioritising customer loyalty is a good strategy. An easy to use loyalty point scheme on your B2B ecommerce site encourages repeat orders. Your regular customers can then redeem their points for discounts, free shipping or other benefits.

You can collect valuable information on the rewards your customers choose to refine the program over time. Spending and lifetime value will increase and you can tailor special offers to keep your orders at the right levels.

Provide payment options

Provide payment options

Your B2B customers expect a frictionless purchasing process. They want to choose the most convenient payment method when they place their order. B2B purchases are often complex, so different clients want different payment methods. You’ll want to make sure every option meets your payment terms and conditions.

This might include payment in advance for new customers until they establish a good payment record. For regular customers you might offer ‘on account’ payments, bank payments or credit card facilities.

Manually tailoring payment methods for each client requires significant administration. Alternatively, you can automatically offer customers bespoke payment options when you integrate your B2B ecommerce platform and back-office business systems.

You can even include an aged debt view so customers can pay their balance before placing a new order.

Conclusion

Your B2B ecommerce site showcases your products and provides valuable information for your customers. However, when your visitors don’t complete their purchases, you’ve lost valuable sales opportunities. With the right online tools and well-planned strategies, you can increase conversions and build customer loyalty.

Book a free Cloudfy demonstration to find out how you can reduce abandoned carts and increase sales.

Frequently Asked Questions

Many abandon carts due to research, price comparison, or saving items for later. Other reasons include complex checkouts, unexpected costs, slow delivery times, and limited payment options.

Streamline checkouts, offer discounts for first-time buyers, create bundle offers, recommend related products, run a loyalty program, and provide diverse payment options to enhance the user experience and encourage purchases.

Offering discounts, especially to new customers, can incentivize them to complete their purchase. Bundle offers for frequently bought items provide value and encourage larger orders, reducing the likelihood of cart abandonment.

A loyalty program encourages repeat orders and customer retention. Customers can earn points for rewards, discounts, and benefits, motivating them to complete purchases and remain loyal to your B2B brand.

Cloudfy offers a comprehensive solution for B2B e-commerce success. From streamlined checkouts to loyalty program integration, Cloudfy's expert tools and strategies can help convert cart abandoners into loyal customers. Book a free demonstration to learn more!

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Choose the Right B2B Ecommerce Platform: Key Considerations for Success  https://www.cloudfy.com/articles/choose-the-right-b2b-ecommerce-platform-key-considerations-for-success/ Wed, 02 Aug 2023 16:44:17 +0000 https://www.cloudfy.com/?p=47809 Business to business (B2B) buying habits are changing and headless B2B ecommerce will help you keep pace. There are so many new ways to access … Read More

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Introduction

In the rapidly evolving world of B2B ecommerce, choosing the right platform is a critical decision that can significantly impact the success of your business. A well-suited B2B ecommerce platform not only provides a seamless shopping experience for your customers but also streamlines your operations and enhances overall efficiency. In this blog, we’ll explore the key considerations to keep in mind when choosing the right B2B ecommerce platform for your business.

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Scalability and Performance

One of the primary factors to consider is the scalability of the platform. Your B2B ecommerce platform should be capable of handling the growth of your business without compromising on performance. As your customer base and order volume increase, the platform should seamlessly accommodate the higher demands without experiencing significant downtime or slowdowns.

Customization Capabilities

Every B2B business is unique, and your ecommerce platform should reflect that. Look for a platform that offers extensive customization options to tailor the user interface, product catalogs, pricing structures, and workflows to match your specific business needs. A flexible platform will enable you to create a branded experience and adapt to changing market trends.

Integration with ERP and CRM Systems

Efficient integration with your existing ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management) systems is crucial. A seamless data flow between these systems and your ecommerce platform ensures real-time updates on inventory, pricing, customer data, and order information. This integration streamlines processes, reduces manual errors, and enhances overall productivity.

Security and Compliance

Security is paramount in B2B ecommerce, where sensitive information such as customer data, payment details, and order history is exchanged. Choose a platform that complies with industry standards and offers robust security features, such as SSL encryption, data backups, and PCI DSS compliance, to safeguard your business and customer data from potential threats.

Choose the Right B2B Ecommerce Platform Key Considerations for Success (1)

User-Friendly Interface

A user-friendly interface is critical to provide a seamless and intuitive shopping experience for your customers. The platform should be easy to navigate, with clear product categorization, advanced search options, and a streamlined checkout process. A cluttered or confusing interface may discourage customers from completing their purchases.

Pricing and Licensing Model

Consider the pricing and licensing model of the ecommerce platform. Some platforms charge a monthly or annual fee, while others operate on a transaction-based model. Analyze your business’s financials and choose a pricing structure that aligns with your budget and anticipated sales volume.

Customer Support and Training

Reliable customer support and training resources are vital, especially during the initial setup and ongoing usage of the platform. Look for a provider that offers responsive customer support, comprehensive documentation, and training materials to help your team make the most of the platform’s features.

Analytics and Reporting

Data-driven insights are instrumental in making informed business decisions. An effective B2B ecommerce platform should offer robust analytics and reporting capabilities to track sales performance, customer behavior, and inventory levels. These insights will enable you to identify trends, optimize strategies, and refine your operations.

Conclusion

Selecting the right B2B ecommerce platform is a critical step in establishing a successful online presence for your business. By considering factors such as scalability, customization, integration, security, and user-friendliness, you can make an informed decision that aligns with your business goals and objectives. Remember that the right platform should not only cater to your current needs but also have the flexibility to adapt and grow as your business expands. Take the time to research, compare, and test different platforms to find the perfect fit for your B2B ecommerce journey.

Cloudfy is a game-changer for your B2B ecommerce journey, offering a comprehensive solution to elevate your business to new heights. With its scalable infrastructure, seamless integration with ERP and CRM systems, and robust security features, Cloudfy ensures smooth operations and data flow, saving time and minimizing errors. The platform’s user-friendly interface and extensive customization options create a branded experience tailored to your business needs. Additionally, Cloudfy’s mobile responsiveness guarantees an optimal shopping experience for your customers on any device. With Cloudfy’s dedicated customer support, transparent pricing, and advanced analytics, you can make data-driven decisions and thrive in the competitive B2B ecommerce landscape. Schedule a demo to know more!

Frequently Asked Questions

Selecting the right B2B Ecommerce platform is crucial because it directly impacts the success and growth of your business. The platform you choose should accommodate the growth of your business, offer customization to match your unique needs, and integrate seamlessly with your existing systems. It should also prioritize security to safeguard sensitive data and provide a user-friendly interface to enhance customer experiences.

To ensure scalability and performance, look for an Ecommerce platform that can handle the increasing demands of your business without compromising on speed and efficiency. The platform should be capable of handling higher customer volumes and order quantities without experiencing downtime or slowdowns. Robust infrastructure and reliable hosting are essential factors to consider.

Every B2B business has unique requirements, so it's essential to choose a platform that offers extensive customization options. Look for the ability to tailor the user interface, product catalogs, pricing structures, and workflows to align with your specific business needs. A flexible platform will enable you to create a branded experience and adapt to changing market trends.

Efficient integration with your existing ERP and CRM systems is crucial for streamlining processes and enhancing productivity. Seamless data flow between these systems and your Ecommerce platform ensures real-time updates on inventory, pricing, customer data, and order information. This integration reduces manual errors and provides a unified view of your business data.

 

Security is paramount in B2B Ecommerce, where sensitive information is exchanged. To ensure security, choose a platform that complies with industry standards and offers robust security features like SSL encryption, data backups, and PCI DSS compliance. Regular security audits and updates are also essential to safeguard your business and customer data from potential threats.

Mobile responsiveness is essential because more and more buyers prefer to browse and make purchases using smartphones and tablets. A mobile-friendly platform ensures that your customers have a seamless experience regardless of the device they use, ultimately leading to higher customer satisfaction and increased sales opportunities.

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How Manufacturing Ecommerce is Falling Short of Modern Customer Expectations https://www.cloudfy.com/articles/how-manufacturing-ecommerce-is-falling-short-of-modern-customer-expectations/ Thu, 27 Jul 2023 11:25:39 +0000 https://www.cloudfy.com/?p=47566 Business to business (B2B) buying habits are changing and headless B2B ecommerce will help you keep pace. There are so many new ways to access … Read More

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Manufacturing ecommerce isn’t meeting the needs of modern B2B buyers according to a recent report. Only around one in ten manufacturing companies offer guided online selling experiences. In most cases buyers must take multiple steps to find a product detail page. Three quarters feel they need previous knowledge of a company’s products to understand their site’s navigation.

Online self-service is increasingly popular in all business to business (B2B) sectors, including manufacturing. Buyers want personalization, easy configure, price, quote (CPQ) options and frictionless purchasing journeys. Currently pricing information isn’t clear, online product configuration isn’t often available, ordering and payment are difficult.

This means manufacturers that offer points of digital differentiation can gain a significant competitive advantage.

With Cloudfy you can reduce your costs and simplify and scale your manufacturing business. You’ll have all the online tools you need to automate order processing and provide digital self-service options for your customers.

You can manage your catalog so customers only see the products that interest them. You’ll minimize data entry errors with business systems integration and streamline procurement processes with integrated ordering.

Our robust CPQ product builder delivers real-time pricing, freeing up your sales team to build long term relationships. Your bill of materials (BOM) explosions can take place inside of your enterprise (ERP) software or your Cloudfy web portal.

Find out how industrial vacuum manufacturers, Busch, transformed their manual ordering process into an online self-service portal with Cloudfy. 

Table of Contents

Why you need manufacturing ecommerce

manufacturing ecommerce

Economic, technical and social changes mean the manufacturing landscape is shifting. The speed of change is increasing and time is running out for organizations that want to respond incrementally. Customer expectations are high and many manufacturing businesses are failing to keep up.

Most B2B executives know their buyers want personalized experiences similar to those delivered for their personal online shopping. However, to date, very few manufacturers are delivering personalization or making user experience (UX) a strategic priority.

In contrast, market leaders are making their products and processes smart and connected. Factories are becoming more automated and supply chain integration is improving reliability. Now the challenge is to provide seamless end-to-end processes.

Traditional silos of activity are hindering progress on the road towards new service-oriented business models. Innovation can support current product sales and operations as businesses evolve to meet future needs.

Disruption in manufacturing

Disruptions in the manufacturing sector include industry-wide convergence, changing priorities in the value chain and rising customer expectations. Environmental and sustainability pressures and a lack of skilled labor compound these issues.

Almost all manufacturing Chief Executives expect to respond by investing in technological innovation despite economic uncertainty. Their rewards include revolutionized processes and the benefits of innovations such as digital twins, artificial intelligence and machine learning.

A short-term response to your competitors isn’t the best solution. The challenge is to create a single clear vision for growth. Your detailed strategic roadmap must include priority innovations and organizational and cultural transformation. Cross-departmental cooperation and collaboration improve when you remove functional and physical silos.

Manufacturing ecommerce – the value matrix

Manufacturers need a clear understanding of what their customers value, now and for the future.

This supports further long-term value generation, improved time to market, and agility.

By understanding future opportunities it’s possible to anticipate customer needs and market conditions and realize the benefits of innovation. A realistic assessment of your current position clearly shows the gaps you must fill. This provides the foundations for a strategy to meet customer expectations.

Digital transformation in manufacturing – key features

Digital transformation in manufacturing

As with product development, prototyping is an essential step in the digital transformation process. You must assess the features you need and the costs involved to meet customer expectations and respond to competitive challenges. This stage will help define your key requirements and gain support for the changes needed.

Initially you can focus on the short-term benefits achieved by optimizing current performance to enhance overall results.

With improved understanding of technology and the opportunities available, you can create a realistic roadmap for digitization and ultimately transformation.

Some manufacturers are well-placed to take advantage of the Internet of Things and Industry 4.0. Others are yet to start adopting the new technologies transforming the sector. 

Eventually the power of these digitized manufacturing systems will bring about more than site- or organization-wide change. It will revolutionize the whole sector.

Key features include business systems integration which opens the way to process automation. Digital tools can empower your sales and customer service teams to provide assisted support to your customers. With the benefit of near real-time information about customer behavior you can identify opportunities for new bundles and product combinations.

Graph

Manufacturing ecommerce as a change-maker

New technology, changing customer relationships and new opportunities to add value might challenge your current in-house resources. Ecommerce is an ideal tool to collect valuable information about customer behavior. This allows you to assess the potential of new products and services.

Increased integration and collaboration will certainly lead to enterprise-wide changes in structure and rewards. Updated infrastructure and competencies are part of the process. You can start to build operational models for your full product lifecycle and anticipate and meet customer expectations more effectively.

Futureproofing your manufacturing business

Personalization and Customer Engagement

Critically, as your knowledge and understanding of your whole business ecosystem develops, you can address your future skills requirements. You can identify potential training and collaboration opportunities to give you a competitive head start.

As you innovate you can refine your long-term strategies and create new partnerships to meet your future needs. This might include securely sharing and analyzing data across your supply chain. You can explore technology and processes to speed your time to market.

Collaborations with original equipment manufacturers, energy suppliers, service providers and investors all take time to develop. A robust digital infrastructure allows you to fast-track the process. It can reduce the time it takes to add value through new relationships with commercial partners and complementary manufacturers.

Key questions to ask if you’re considering manufacturing ecommerce

Urgent challenges across the manufacturing sector require action. However short-term responses can limit your scope for future growth.

Here are some questions that could help open up new possibilities.

Do we have accurate data to help us evolve our products and services to meet customer demand?

Manufacturing ecommerce is not only a sales tool, but a valuable source of information about buyer behavior and shifting trends. The information you collect is a valuable resource for data-based decision making.

How do we deliver improved purchasing journeys?

There’s growing demand for around the clock self-service. Purchasing experiences influence buyer loyalty. A key element of your growth strategy is an integrated, simple and effective online portal.

How can we future proof our supply chain?

Deep integration with business systems at every customer touchpoint streamlines all your processes. It helps to optimize planning and purchasing raw materials and components through to order management and logistics. You’ll have a more complete view of every aspect of your business.

How can we reinvent our business model?

Simplification and scalability throughout your operations allow you to drive innovation. With software as a service (SaaS) solutions like Cloudfy you can simplify your in-house IT requirements. You’ll still be at the forefront of technology whilst you focus on the success of your core business.

Find out how manufacturing ecommerce helps you meet your customers’ expectations. Book a free Cloudfy demonstration.

Frequently Asked Questions

According to a recent report, manufacturing ecommerce is falling short of modern B2B buyer expectations. Only about one in ten manufacturing companies offer guided online selling experiences, and most buyers face difficulties in finding product detail pages. Three-quarters of buyers feel that they need previous knowledge of a company's products to navigate the site effectively.

Manufacturers are struggling to meet customer demands for personalization, easy configuration, price, and quote (CPQ) options, as well as frictionless purchasing journeys. Pricing information isn't always clear, online product configuration is often unavailable, and ordering and payment processes are difficult.

Manufacturers that offer points of digital differentiation can gain a significant competitive advantage. By focusing on customer value, improving time-to-market, and embracing digital transformation, businesses can respond to changing customer relationships and market conditions effectively.

Digital transformation allows manufacturers to streamline processes, enhance customer experiences, and respond to industry disruptions. By adopting new technologies like the Internet of Things and Industry 4.0, manufacturers can revolutionize their entire sector and build operational models for their product lifecycle.

Cloudfy offers comprehensive manufacturing ecommerce solutions that provide accurate data insights, improved purchasing journeys, streamlined supply chain management, and simplified business operations. By embracing Cloudfy's cutting-edge technology, businesses can reinvent their models and stay ahead of the competition. Book a free demo to find out more!

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How your B2B ecommerce website can be optimized for mobile device https://www.cloudfy.com/how-your-b2b-ecommerce-website-can-be-optimized-for-mobile-device/ Wed, 22 Feb 2023 07:23:14 +0000 https://www.cloudfy.com/?p=40809 Your business to business (B2B) ecommerce website needs to be optimized for mobile devices. Your customers now regularly use ten or more channels when interacting with their suppliers. That’s up from five in 2016. Some or even all of these … Read More

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Your business to business (B2B) ecommerce website needs to be optimized for mobile devices.

Your customers now regularly use ten or more channels when interacting with their suppliers. That’s up from five in 2016. Some or even all of these channels will be accessed using mobile devices. When you’re in a battle to deliver the best possible experiences your mobile ecommerce performance must be excellent.


Cloudfy is a software as a service (SaaS) ecommerce platform designed for complex business to business (B2B) sales. It is automatically responsive so your site will perform well on all types of device. A new generation of B2B buyers expect to find everything they need online. With mobile devices always by their side, they want to use them to discover and use highly relevant content. It needs to be  easy to find and quick to digest. When they’re ready to buy their mobile purchasing journey must be fast and easy too. Find out how Cloudfy can help you deliver outstanding experiences for B2B buyers using mobile devices.

Table of Contents

Mobile Responsive website

Why B2B ecommerce sites should be optimized for mobile devices

In January 2023 there were 5.16billion internet users in the world; that’s approaching two-thirds of the population. Smartphones are used by nine out of 10 of us for online access, accounting for over 60% of internet traffic.

That makes the mobile phone critical for customer interactions, so you can’t afford to underestimate its importance to your business.

Many B2B companies provide very high quality online content, product descriptions and images, but they are optimized for desktop computers. Making sure your site is optimized for mobile devices is different.

Mobile web design must be responsive. Whatever size of screen, from a phone to a watch, tablet or desktop your content should be crystal clear. What’s more, Google mainly uses the mobile version of a site’s content for indexing and ranking, which it calls mobile-first indexing.

Checklist: Is your site optimized for mobile devices?

There are some simple things you can check to understand how your B2B ecommerce platform will perform on multiple devices.

• is your page loading speed fast? • does your text scale according to screen size for good legibility and accessibility? • are you prioritizing taps rather than clicks when users need to take action? • can your buyers find the information they’re looking for with two or three taps? • Is your checkout easy, with clear signposting?

If you answered ‘No’ to some or all of these questions your site probably isn’t optimized for mobile devices. Your customers could already be moving to sites that are easier to use.

How sites can be optimized for mobile devices

As more and more of your buyers research products and make purchases using their smartphones, mobile-first design is needed. Designers must optimize content for mobile and then scale up, rather than assuming site visitors are using a desktop PC.

Here are some of the top considerations:

Simplicity – responsive design means that every element on a page must work hard on different screen sizes. Tiny, unreadable text isn’t acceptable. Space and simplicity are needed to make it clear what each element on the page is for. Your search engine results will be affected if you have intrusive pop-up content on your site so this should be used sparingly.

Clarity – color, contrast and buttons designed to tap rather than click are essential. Forms must fit the screen and be easy to complete, so they should only capture minimum essential information.

Navigation – your main menu, pages, posts and links all need to be easy to use on small screens. You might not have room to include all the tabs and pages you have on your desktop site, so you’ll need powerful navigation tools. You’ll want to prioritize the most important pages on your site.

Speed – ideally, your pages should load in less than two seconds. You can improve loading times by optimizing your images and reducing the amount of content and code on your site. You can also consider using super-fast accelerated mobile pages.

Ease of use – every step your buyer takes to place their order should be as simple and intuitive as possible. Information at checkout should be concise, buttons easy to see, and forms easy to complete. Make sure shipping and returns information is clear, along with tax and stock availability information.

Quality Content

Quality content – high-quality content is important for search engines and will encourage buyers to stay when they visit your site. However dense content can be difficult to absorb when using a mobile device. Devoting time to getting the balance right will be worthwhile. High-quality images, enlargement tools, video, 3D graphics, and augmented reality can all make your content more engaging.

Marketing – for your mobile channels and email marketing use links to pages that are optimized for mobile devices.

Taps not clicks – many of your buyers will be using their thumbs to navigate sites on a smart phone. Make it easy for them to respond by placing your calls to action at the bottom of the screen. Provide a sidebar and use a sticky menu that doesn’t disappear when they scroll.

Channel switching – to win hearts and minds, make it easy to switch between mobile devices and other channels. Buyers should be able to complete their purchases using information they have already entered.

The benefits of B2B ecommerce sites optimized for mobile devices

Mobile responsive sites should be easy to use on all types of devices and a ‘less is more’ approach is a good discipline. Content will be crisp, legible and to the point. Functionality and calls to action will be clearly signposted. Paired-down content will also help to make sure pages load quickly.

Creating a single, responsive site is a cost-effective approach too. Creating separate sites for the desktop, smartphones, tablets and a range of other devices isn’t a good use of resources. You’ll ensure your site will be consistent across multiple devices, with a single URL.

Book a free Cloudfy demonstration to discover how your B2B ecommerce site can benefit from a mobile-first design.

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How to make your business more robust during a recession https://www.cloudfy.com/how-to-make-your-business-more-robust-during-a-recession/ Wed, 04 Jan 2023 15:10:11 +0000 https://www.cloudfy.com/?p=40072 As the global economy continues to struggle and businesses around the world are feeling the pressure of an uncertain future, it’s more important than ever before to find ways to save money and time. One of the best solutions is … Read More

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As the global economy continues to struggle and businesses around the world are feeling the pressure of an uncertain future, it’s more important than ever before to find ways to save money and time. One of the best solutions is investing in a powerful B2B ecommerce web platform such as Cloudfy.

Cloudfy is designed to provide manufacturers and distributors with a simple, cost-effective solution that can help them reduce operating costs, streamline their processes and scale their business over time. With advanced features like real-time product search, rapid order fulfillment, inventory management and automated invoicing, Cloudfy offers powerful tools that can help businesses save time and money.

With over a decade of experience working with business-to-business (B2B) companies around the world, here are eleven steps recommended by the Cloudfy team.

  1. Be customer-centric – the businesses most likely to succeed in difficult times are those that effectively explore and meet their customers’ needs. While focussing on pricing might seem like an obvious step, improving customer service and adding value are likely to help you build long-term brand loyalty.
  2. Communicate effectively – a practical strategy to maintain your cashflow is to make sure you communicate regularly and consistently with your customers and stakeholders. There’s never been a better time to build up your first-party subscriptions list so you can provide valuable information to your customers.
  3. Take search engine optimization seriously – as budgets are placed under increasing pressure your B2B buyers will be searching online for the best deals for their company. As well as paid-for online advertising you will need to make sure search engine optimization (SEO) for your B2B ecommerce site is a priority. If some of your competitors choose to cut back on their online marketing activity, you will benefit from being easily discoverable online.
  4. Plan for growth – while simply surviving might appear to be imperative, things will eventually recover. Improving efficiency will help you to manage current pressures and prepare for the future. You can position your business for growth as financial pressures ease by taking advantage of opportunities to automate and streamline your business processes through business systems integration.
  5. Improve productivity – your teams can do more when they are working well together, so consolidating data through business systems integration will also provide a single source of truth to make sure everyone can be productive. It allows you to avoid duplication and unnecessary manual data entry and, when combined with your B2B ecommerce platform, business systems integration will also streamline your sales processes and improve customer satisfaction.
  6. Support your employees – when you give your team members the right tools for the job, you will send a clear message that you value them and what they do. Engage with them to find out what will make a difference, listen to their recommendations, and share your future plans so they can be confident you have things under control. As more transactions are completed online make sure your employees are correctly incentivized and recognized for their contributions.
  7. Improve your order to cash process – making customer payments easy and efficient and automating your credit control processes will help protect your cashflow. Offering flexible payment options via your B2B ecommerce platform will make it easy for your customers to pay and keep track of their accounts.
  8. Be agile – with each digital transaction you will collect a lot of useful information about your company finances and customer behavior. Rather than waiting to see what market trends and reports are telling you, collect and evaluate real time data about your customers’ purchases and preferences. You can use analytic tools to convert this into actionable insights for your production, marketing, sales and after sales teams. You can then respond quickly, effectively and confidently using data-based decision making.
  9. Focus on customer retention – retaining your existing customers will be more cost-effective than searching for new customers during these challenging times. Look carefully at what your data tells you and introduce a customer loyalty program or update your existing one to add quality and value for your customers.
  10. Collaborate – you can realize the benefits of scale when you collaborate with others including your suppliers and perhaps your competitors too. Online marketplaces can give you access to new audiences and locations, so explore opportunities to provide value-added complementary products and services.
  11. Take the long-view – distinguish between short-term tactical activities and your longer-term strategy. You could, for example, buy inventory at a reduced price if one of your competitors is cutting back on their purchasing in the short-term. However, for the future you might want to become more efficient with an integrated inventory management system.

Take the first step today

Cloudfy B2B ecommerce software is designed to help simplify your manufacturing or distribution business to save you money and allow you to scale as your business grows.

With our extensive experience of B2B sales Cloudfy offers a comprehensive suite of powerful ecommerce tools as a cost-effective software as a service (SaaS) solution.

To find out more book a free Cloudfy demonstration.

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Why avoiding a big B2B ecommerce project could cost your business more? (Updated) https://www.cloudfy.com/articles/price-of-inaction/ Tue, 15 Mar 2022 13:05:10 +0000 https://www.cloudfy.com/?p=20806 Businesses that aren’t already undergoing a digital transformation journey can’t afford to wait too long – the cost of inaction could be much greater than you realize. … Read More

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In today’s fast-paced digital landscape, B2B ecommerce has become increasingly important for businesses to stay competitive and achieve sustainable growth. While implementing a big B2B ecommerce project may seem daunting, avoiding it altogether can have significant consequences for your business. Digital transformation is speeding up around the world and businesses that aren’t already on this journey can’t afford to wait too long – the cost of inaction could be much greater than they realize. In this blog, we will explore why avoiding a big B2B ecommerce project could end up costing your business more in the long run.

Table of Contents

Meeting customer needs

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In more traditional business-to-business that haven’t yet made the move to ecommerce, there are often concerns about the effect of a new channel on-field sales teams and distributors.

However, the reality is that B2B buyer behavior has changed and online sales are no longer optional. Your customers expect to be able to carry out research and make purchases online. So, while you will want to see a return on your investment in online sales you must also consider what you will be losing if you fall behind your competitors in a fast-moving digital landscape.

Ecommerce can transform your business, especially if you place your customers’ needs at the heart of the process. If you embrace the opportunities it can create before your competitors you can gain a significant advantage.

Making strategic choices

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You know your customers and market sector better than anyone else, but assuming your buyers don’t want to use digital channels would be a mistake.

You will want to create a practical strategy that will give you a clear roadmap from where you are now to where you plan to be. The first step towards creating an effective strategy is to challenge all the assumptions you have made about your customers and to find out how you can better meet their needs. Without this step in the process, you could create an ecommerce platform that will see your customers moving to more strategically focused competitors.

Building on insights

B2B ecommerce project-1

Understanding how your customers’ expectations have changed will be the key to delivering digital channels they will want to use. Alongside the comprehensive information you already hold about their needs and preferences, you can explore new ways to solve their problems. Consider using surveys, interviews, focus groups and feedback from your customer service and sales teams. This will allow you to create customer personas so you can understand how to work with them in the future, rather than the present.

To be sure you meet their needs at every stage of their purchasing journey you must deliver exceptional customer experiences. You must be consistent when you are building awareness and helping them to research your brand and your products or services. When they have made their decision to purchase they will expect outstanding ongoing support that will create and maintain loyalty. If you don’t meet their needs they will move on to one of your competitors.

Realizing benefits

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With an effective ecommerce strategy, you can increase your existing market share by providing high quality information and easy ordering and reordering. New customers will be able to discover you online when they are actively looking for the products or services you provide. If you don’t have a digital presence they will choose the competitors they discover online instead of you.

By realigning your organization to focus on your customers’ needs, you will also improve processes and become more efficient by prioritizing the activities that have a direct impact on sales and customer satisfaction.

Integration

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To optimize the benefits, you will want a high quality ecommerce solution that helps you to manage your inventoryprocess orders, and accept multiple payment methods, so you can deliver high quality customer experiences (CX).

Your operations can become more transparent with automated stock reordering, shipping, tracking and auditing processes.

Integration will also support online self-service for your customers, allowing them to place and repeat orders whenever they need to and reducing your in-house administration overheads. This will free your staff from low value repetitive tasks so they can focus on more complex activities that add value to your business.

You can also reduce the number of enterprise resource planning (ERP) user licenses you need when orders are processed via an ecommerce system like Cloudfy that’s designed to meet the needs of B2B companies.

Data management

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An ecommerce solution that’s integrated with your ERP systems, inventory, warehousing and distribution systems will allow many manual processes to be eliminated. Minimizing manual data entry will also reduce errors that can lead to delays and frustration for your customers.

You can improve CX by providing real-time visibility of inventory levels, prices, and delivery times. With a simple login your customers can see their purchasing history and place orders without the help of your customer services team. You’ll avoid the risk of orders for out of stock items and you can even let your customers know when products are back in stock.

You can avoid holding too much stock so you can improve your cashflow and make the best use of your storage facilities. Complex orders will be easier to process, including special pricing and discounts.

You’ll be able to track sales in near real time, so you’ll know what’s happening in every part of your business. You will have accurate and up to date information about your customers’ buying behavior and be better placed to anticipate demand and new opportunities and to track the effectiveness of your sales and marketing campaigns.

Data accuracy

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With a single source of accurate information, you can take advantage of multichannel selling so your customers can use their preferred sales channels, and easily switch between them. You can deliver the same high standard of service across your ecommerce site, social networks, online marketplaces and brick-and-mortar stores. You can achieve a higher volume of sales and lower operating margins to improve your sales.

Your processes can be streamlined across all your sales channels and queries and returns can be easily handled and recorded. Rather than using traditional labor-intensive practices like phone calls and emails to arrange transactions, these time-consuming activities can be automated and handled online.

To find out more about these and the many other benefits of a strategic approach to B2B ecommerce, speak to one of our experts.

FAQs (Frequently Asked Questions)

By avoiding a big B2B ecommerce project, businesses risk falling behind competitors in the fast-paced digital landscape, losing customers' trust, and missing out on potential sales opportunities.

Implementing a big B2B ecommerce project can transform your business by meeting customers' expectations, increasing market share, improving processes, and delivering exceptional customer experiences.

Businesses should challenge assumptions about their customers, conduct research to understand customer needs, build customer personas, and create a practical strategy that aligns with market trends and customer preferences.

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Cloudfy Features for 2022 https://www.cloudfy.com/articles/2022-features/ Wed, 08 Dec 2021 13:23:51 +0000 https://www.cloudfy.com/?p=14126 Ian Brown, Technical Project Manager, shares plans for exciting new Cloudfy features in 2022. Extending the roadmap of Cloudfy’s new features for 2021 and early 2022, there are more powerful new B2B ecommerce tools coming down the line. Here are … Read More

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Ian Brown, Technical Project Manager, shares plans for exciting new Cloudfy features in 2022. Extending the roadmap of Cloudfy’s new features for 2021 and early 2022, there are more powerful new B2B ecommerce tools coming down the line. Here are some to look out for in response to feedback from Cloudfy’s customers.

As the expectations of B2B buyers increase, the race is on to meet and exceed their requirements. Of course, you will want an ecommerce platform that’s fast and effective, but it’s clear customer experience (CX) and ease of use are very high on the priority list for 2022.

Loyalty points

One of the first new Cloudfy features for 2022 in response to customer needs and requirements will be a comprehensive loyalty points release with further enhancements added during the year.

Users will be able to manage their own or and external points-based loyalty systems with various in-built settings such as user workflows. For the internally managed option users can accumulate points to spend on behalf of their organization. In a business to business (B2B) environment multiple people can add points and somebody can then be authorized to spend them.

Alternatively, the points can be calculated on an external system with Cloudfy passing through things like orders to be processed. The points will accumulate in the external system which will communicate back a balance of current points for each customer, who can then spend them via Cloudfy.

This allows Cloudfy users to take advantage of multiple external loyalty schemes. It’s coordinated at the point of payment, which can be customized to link with their specific external system to bring back the relevant documents to Cloudfy.

Ian Brown says: “It’s an elaborate and feature-rich solution that will meet the needs of people who want to fully manage a loyalty points scheme within Cloudfy and those who use other third party loyalty vendor options like Oracle’s NetSuite, for example, or a combination of both”.

In later releases other popular options like Givex will also be included along with enhancements for retail users who don’t have the same workflow requirements. This feature is already evolving and ultimately, rather than fully paying for an order using points, it will be possible to make partial payments combining points with other methods such as payment on account or credit card.

Multi-store

2022 will also see the release of the Cloudfy multi-store feature which will be a significant enhancement for customers who want to manage multiple front-end stores from a single backend dashboard.

It’s a sophisticated solution that will allow users to seamlessly manage the complexity of multiple stores serving different countries or customers with varied pricing, products, and branding. Each store can have a different domain name tied to the same Cloudify instance with a shared common backup.

Ian Brown explains the benefits: “This would allow a customer to launch a UK site with a .co.uk domain name, and then follow it with a store for Ireland with a .ie domain name. The first site will operate in pounds sterling and second site will have pricing in euros while a third American .us site would run in dollars”.

The Cloudfy multi-store feature set is very powerful, including multi-language operations so that users can set a different language for each store, which is important for businesses that want multiple international storefronts. To minimize guesswork, there’s also a planned enhancement that will allow users to switch into multi-language mode using a simple tool to hover over a term or phrase they want to find in the equivalent in the backend system.

A customer-centric focus

The Cloudfy team has always recognized the importance of easy interfaces and user-friendliness so they will be making plenty of front-end enhancements in 2022.

Work is underway to provide a headless option allowing Cloudfy users to be fully focussed on customer experience and branding, decoupled from their backend systems. This will provide the freedom to create bespoke skins and themes for their sites alongside Cloudfy’s powerful ecommerce functionality.

Ian Brown sees this as a powerful option for businesses that need to deliver exceptional customer experiences: “The moment you separate the front end from the actual ecommerce engine it’s in the hands of Cloudfy’s customers what they want to display and how. Otherwise, we must test to make sure every new feature works with every single Cloudfy theme, which slows down the development process. It’s so important that we are fully focused on making this feature smooth so that it will operate efficiently. However, not everybody will want to take up this option so we will still retain the ability to customize our own Cloudfy themes for our customers”.

Ease of use

People will also see even more intuitive interfaces for Cloudfy next year with refined custom menus, for example, which will have a smarter interface and will be paginated instead of appearing as a list, which could be slow to load. Users will also be able to search and access specific custom menus which will save time, compared to scrolling through lists. There will also be new automated options such as scheduling specific menus for special B2B promotions on Black Friday, for example, or showing some menus only to certain customers.

There’s also more work underway to further improve Cloudfy’s efficiency and speed. Development of Cloudfy’s marketing module will integrate typical promotions that are common in retail environments for B2B world, such as buy one, get one free two for one.

There will be many more regular enhancements and, moving forward, there will be opportunities for customers to get involved to help us to prioritize new features.

To see what you can already do using the powerful Cloudfy platform, book a free demonstration.

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The Benefits of Cloudfy over Magento, BigCommerce and Shopify Plus https://www.cloudfy.com/articles/the-benefits-of-cloudfy-over-magento-bigcommerce-and-shopify-plus/ Mon, 25 Jan 2021 17:09:12 +0000 https://www.cloudfy.com/?p=5119 You will want to compare the benefits that market-leading ecommerce platforms have to offer you in 2021, including Cloudfy, Magento, BigCommerce and Shopify Plus … Read More

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Best-In-Class Subscription Ordering Tools for B2B EcommerceYou will want to compare the benefits that market-leading ecommerce platforms have to offer you in 2021, including Cloudfy, Magento, BigCommerce and Shopify Plus.

Whether you are planning to launch a brand-new ecommerce platform or update your existing solution to compete in a digitally transformed world, here is an overview of the benefits these options can provide for your business.

Choosing the right ecommerce platform

There are a lot of options available for business-to-business (B2B) and retail (B2C) markets. Choosing the right platform will be an essential part of your business strategy in 2021, so here are some things to think about.

Integration: In a digital world, you should be able to manage your inventory seamlessly with order management, accounting, your point-of-sale (POS) requirements and your customer relationship management (CRM) needs.

Customer journey: Providing your marketing, sales, customer service, aftersales and product development teams with a single, accurate view of customer behavior is the best way to deliver high quality customer experiences that will make you stand out from the crowd.

Order management: Your customers expect to track their order at any time and from anywhere, as well as return any purchase. This should include both on- and offline purchases, and your teams should be able to see the same information as your customers. 

Growth: Whatever platform you choose should be able to grow with your business and expand to support multiple currencies and regions around the world.

As part of the process, it’s also a good idea to look at the impact your choice will have on your existing operations and how it will work across your business, for your customers and business partners.

Cloudfy

Cloudfy is a cloud-based software as a service (SaaS) ecommerce platform designed to help any type of business launch a new, scalable website in weeks rather than months or years.

Part of the Williams Commerce Group, it has been designed from the outset to provide an out-of-the-box solution to meet the needs of online retailers, manufacturers and distributors. Its application programming interface (API) is powerful and flexible and flat file integration tools are available, making it a good choice for businesses looking for bespoke solutions and customization.

It allows businesses to manage orders, pricing, stocks and accounting through integration with leading enterprise resource planning (ERP) systems such as Microsoft Dynamics 365 and NetSuite, as well as other CRM, accounting, warehousing and business systems.

Cloudfy is updated regularly, delivering up to date functionality and security in the cloud. Features include:

Magento

Magento Commerce is a popular platform used worldwide by all types of ecommerce businesses. It is recognized as a leader in Forrester’s 2020 wave report.

Owned by Adobe, it has been added to the Adobe Experience Cloud to provide digital commerce, order management and predictive intelligence in a unified commerce platform for a wide variety of business sectors.

Magento is available as a platform as a service (PaaS) solution to meet all your ecommerce technology, capacity, equipment and maintenance requirements. It’s features include:

  • A page builder
  • Product recommendations
  • Custom pricing and catalog
  • Merchandising
  • Back-end system integration
  • Support for corporate accounts
  • Omnichannel selling features
  • Reporting and analytics
  • Quotes and negotiations options
  • Order processing and inventory management.

BigCommerce

BigCommerce is suitable for both small businesses and larger companies with high volume sales. It provides tools to help you launch a site quickly and offers a range of connectors and integrations.

BigCommerce is especially suitable for businesses that are interested in separating their customer presentation layer from their ecommerce platform and other business systems in a headless approach. It offers a good range of themes, social media integrations and payment options. A range of quote builders are available which are useful for service-based businesses. Other features include:

  • Subscriptions and quick re-ordering
  • Advanced shipping options
  • Automatic volume discounts
  • Payment services
  • Business system integrations
  • Discounted and custom prices
  • Audience segmentation
  • Responsive designs

Shopify Plus

Shopify Plus is one of the most popular choices for fast-growing businesses and powers almost a million online stores around the world. It is designed to be extensible, so it’s a good choice for businesses that want to start small but expect to grow quickly. You can also launch multiple websites from the same back-end system.

Although not available in all countries, Shopify Payments can help you to reduce your transaction costs. There’s also a wholesale option that you can add to your website. Features include:

  • Dedicated storefronts
  • Multiple sales channels available from a single dashboard
  • Advanced custom pricing
  • Integration with Avalara for taxation
  • One-step checkout options
  • Wholesale selling
  • Drop shipping via apps like Orbelo

Summary – Cloudfy, Magento, BigCommerce, Shopify Plus

  Cloudfy Magento BigCommerce Shopify Plus
Launched 2016 2008 2009 2006
Service SaaS PaaS SaaS SaaS
Business type B2B and retail Retail and B2B Retail with growing B2B functionality Retail with growing B2B functionality
Good for Bespoke solutions Professional developers High volume businesses Fast-growing businesses
Integrations Out-of-the-box and APIs Magento Solution Partners and APIs eBridge Connections and APIs Shopify Plus Partners and APIs

Find out more

Wherever you are in your ecommerce journey, we always recommend you thoroughly review as many of the leading options for your business as you can before making your final decision about a new ecommerce platform.

As a first step please contact us to book a free Cloudfy demonstration.

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The B2B Ecommerce Trends for 2021 https://www.cloudfy.com/articles/b2b-ecommerce-trends-2021/ Mon, 25 Jan 2021 16:44:51 +0000 https://www.cloudfy.com/?p=5118 Predictions for business-to-business (B2B) ecommerce trends in 2021 will probably sound similar to those for 2020, but the context is dramatically different after such an … Read More

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Predictions for business-to-business (B2B) ecommerce trends in 2021 will probably sound similar to those for 2020, but the context is dramatically different after such an exceptional year.

Not the death of a salesman

To create a sustainable future, manufacturers, distributors and wholesalers have embraced digital transformation more than ever in the last 12 months. Initially intended as an essential response to the restrictions imposed to manage the coronavirus pandemic, this change is here to stay. More than eight out of 10 B2B decision makers say that they plan to make further investments in digital sales channels, according to Gartner.

In October 2020 research by McKinsey found that only 20 to 30% of B2B buyers will want to interact in person with sales representatives in the future. However, this doesn’t mean that Forrester’s prediction in 2017 that professional sales experts won’t have a role to play is now happening in practice.

In fact, the roles of your professional sales and customer service teams will be as important as ever. They will be empowered by technology to offer a far better customer experience with the benefit of the latest information about products and availability. Accurate real-time data about customer behavior will allow them to anticipate and exceed expectations. A perfect example of how companies can arm their sales team with crucial, real-time information to help close a sale is Cloudfy’s B2B sales rep mobile app which gives salespeople out in the field the ability to check stock, place orders and view customer records.

B2B marketplace opportunities

Online marketplaces bring together buyers and sellers, providing access to a wide selection of suppliers and products. More than eight out of 10 B2B buyers are using them, so they need to be part of your strategy for 2021.

B2B marketplaces can be horizontal, typically offering products for every business need, while vertical marketplaces focus on a specific industry group. Amazon Business offers both options. Marketplaces have proved valuable to many B2B companies where international supply chains have been put under pressure during the pandemic.

B2B and B2C crossover

As we all engage in more online buying personally and professionally, it’s not surprising that people are looking for the same standards of user experience across all online transactions. Business to consumer brands have certainly led the way and B2B ecommerce companies must now catch up, despite the varying needs of their buyers.

As millennials play an increasingly important role in the B2B buying process, expectations are higher than ever. Businesses that meet or exceed requirements will gain a significant competitive advantage. This will include tools to research products and services, personalized recommendations, ratings and reviews, detailed product information, images, videos, downloadable documentation and product customization options.

Direct-to-consumer growth

B2B commerce businesses are recognizing the benefits of selling directly to their customers (D2C) as well as working with wholesalers, distributors and retailers. The direct relationship with end customers provides valuable customer data and opportunities to test and refine products and marketing approaches. Nike, for example, has a growing D2C business that is reported to account for a third of revenue at the end of 2020.

Manufacturers might hesitate to adopt this approach due to concerns that it will damage long-standing relationships with their channel partners. However, the real-time insights it provides often aren’t available across multiple channels. This can add value for the whole distribution network. In addition, manufacturers can continue to direct customers to their nearest retailers.

Progressive web apps

Further adoption of progressive web apps (PWAs) will feature in 2021, adding to the B2C cross-over effect and emphasis on D2C sales. PWAs behave like mobile apps but they use common technologies available on most mobile devices, making them easier to maintain and update.

Buyers can simply go to a website, which can then appear on their home screen, rather than downloading an app. PWAs reach your market more quickly than native mobile apps whose quality-control processes often delay their approval for app stores. They provide a consistent experience on desktop, laptop, tablet or mobile devices, and can match the speed and usability of mobile apps. They can even function offline and integrate with smartphone functions like cameras and messaging to scan barcodes or access forms, for example.

Fulfillment options

The coronavirus pandemic has not only introduced digital sales to new audiences, but it has also highlighted the importance of safety for everyone from workers in warehouses to delivery drivers and customers. It is now essential for everyone throughout the supply chain to meet essential hygiene and safety requirements.

Some businesses have developed new ways to ship products that limit physical contact. Socially distanced buy online, pick up in store (BOPIS) is now more common. B2B companies can adopt this approach to distribute products via retail partners, even if their products aren’t sold in-store.

Manufacturers and distributors have been drop shipping, fulfilling orders on behalf of retailers, for many years. During 2020 this has been used more extensively as retail outlets were forced to close and manufacturers and wholesalers needed to find viable alternative ways to distribute products as ecommerce demand soared. This is another trend that is likely to continue.

Ecommerce integration

During the pandemic many B2B companies developed integrations with their customers using application programming interfaces (APIs). Manufacturers and distributors were able to provide customers and retailers with accurate inventory details, supply chain information and other business updates.

Ecommerce integrations allow data to be shared and orders to be placed across multiple channels including native mobile apps or progressive web apps. Now this investment has been made the trend is set to continue, and many businesses will need to catch up.

New payment options

Around the world, payment technology has become an essential part of the ecommerce revolution. With new channels, integrations and buying experiences, new payment options are needed, including new types of B2B financing.

In 2021, B2B companies will need to update their accounts receivable processes, moving away from physical invoices to new ways of accepting payment. Opening up online transactions to a much larger audience will demand changes to fees, payment delays, processing, and transaction visibility.

Underlying infrastructures will need to be optimized to work seamlessly with other systems to move money and data safely. This is another way in which B2B ecommerce will start to mirror B2C in 2021.

Speak with one of our experts to find out more about the new trends in B2B ecommerce for 2021, and join the ecommerce revolution today.

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Adoption rates of B2B ecommerce in Asia https://www.cloudfy.com/articles/adoption-rates-of-b2b-ecommerce-in-asia/ Mon, 21 Dec 2020 11:13:53 +0000 https://www.cloudfy.com/?p=5106 Along with rapid growth in online shopping in the retail sector, adoption rates for business to business (B2B) ecommerce in Asia are also soaring. Although … Read More

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Along with rapid growth in online shopping in the retail sector, adoption rates for business to business (B2B) ecommerce in Asia are also soaring. Although 2021 will be challenging for businesses across the region many see a new or enhanced ecommerce offer as an essential part of their response.

The Asian context

The International Monetary Fund (IMF) forecasts a downturn in gross domestic product (GDP) across Southeast Asia, including Indonesia, Malaysia, Philippines, Singapore and Thailand, although Vietnam could still see 1% growth.

Economies of some of the region’s leading trade partners are also shrinking. China’s growth forecast has dropped from 6% to less than 2%, while forecasts for Japan, the United States and the European Union are all negative.

However, the longer-term outlook is exciting and, in many respects, the region is leading the world in the adoption of new digital technologies.

Impressive B2B ecommerce statistics

Before the pandemic, research experts Frost & Sullivan had predicted that global B2B ecommerce sales would reach over US$6.6 trillion in 2020, overtaking B2C sales, valued at US$3.2 trillion for the same period.

Forrester is forecasting growth of over 11% per annum until 2024 in B2B ecommerce, with B2B online marketplaces leading the way.

It is estimated that B2B payments revenue across Asia will double, reaching over $1,356 billion by 2025, compared with $671 billion in 2018; a compound annual growth rate of 10.5%. This is supported by the growing popularity of e-invoicing for business, which is also increasingly in demand by government organizations and tax authorities struggling with tax evasion and financial fraud.

B2B ecommerce expansion across Asia

Governments across Asia are embracing digital transformation both as a response to the coronavirus pandemic and as the foundation for future economic growth.

Myanmar – in April Myanmar’s government committed support for ecommerce as part of its economic stimulus plan in response to the pandemic. It aims to launch a central ecommerce platform for online trading, with plans to cultivate the ‘strategic habit’ of digital trading.

India – India is expected to be a major investor in B2B ecommerce, according to a survey by Econsultancy and Magento, benefiting from government support and rising mobile penetration in the region.

India’s top B2B ecommerce marketplace, Udaan, recognized the need for a trusted direct connection between manufacturers and retailers in the Indian B2B supply chain. Taking on the role of the middleman in 2016, it is now valued at US$2.7 billion.

Vietnam – Vietnam’s largest B2B ecommerce platform, Telio, works closely with small household businesses and retailers across the country. After just a year in operation, the company secured US$25million funding in December 2019.

The platform is successfully addressing key issues for these small businesses. Typically, small Vietnamese retailers have to have 50 to 80 suppliers and can often only work out their pricing after their goods are delivered. The cost and reliability of deliveries was also a problem in many cases, with free delivery only offered on larger consignments.

Indonesia – in Indonesia Tokopedia was established in 2009 to compete with eBay and Rakuten before expanding to challenge Lazada and finally Amazon. The company says its mission is to ‘democratize commerce through technology’, inspired by Alibaba in China, which is now a minority stakeholder.

It seems to be working, with almost nine out of 10 sellers on the platform being first-time entrepreneurs. The company says its annual gross merchandise value has already reached US$15.8billion, which would be equivalent to 1.5% of Indonesia’s total GDP. It is reported to be considering a merger with a view to going public.

Malaysia – B2B ecommerce has grown rapidly in the past five years, with the Malaysia market expected to reach US$3.4billion this year. It is one of the fastest growing sectors for small and medium-sized enterprises which have a high adoption rate for new technologies. Malaysia is ranked fourth among nine Asia and Pacific countries surveyed in digital platform implementation and third in adopting Industry 4.0 technologies.

Alibaba Cloud launched a City Brain initiative last year in collaboration with the Malaysia Digital Economy Corporation (MDEC) and the Kuala Lumpur City Hall. The trial in Kuala Lumpur is expected to be extended to other parts of Malaysia after completion of the pilot project. The robust infrastructure will support Malaysia’s digital transformation with cloud technology and artificial intelligence.

Thailand – B2B ecommerce in Thailand is growing rapidly, supported by increased internet and mobile phone use, improved logistics and e-payment systems. According to Thailand’s Electronic Transaction Development Agency, the sectors using ecommerce platforms to increase their productivity include the food and service sectors (31%), followed by manufacturing (16%), retail and wholesale (15%).

Singapore – in November this year Singapore’s Commodities Intelligence center (CIC) jointly launched a ‘Digital Silk Road’ initiative with the region’s leading B2B ecommerce group, ZALL. Joined by Singapore’s new Blockchain for Trade & Connectivity (BTC) Network, it will be the country’s first global B2B commodities e-trade platform. CIC will help Singapore businesses find new global opportunities for trade through improved digital connectivity.

Some 300 merchants have already made over 250 cooperation agreements, amounting to a S$56.3billion (US$42.2billion), underscoring the increasingly important strategic role of CIC in expanding regional trade and investment.

Since the start of the year, CIC has seen an increase of over 20% in customers joining their platform compared to last year, with over 4,000 searches for trading opportunities every day.

Speak with one of our experts to find out more about adoption of B2B ecommerce in Asia.

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