Importance-of-adopting-National-hardware-Blog-2

Importance of adopting B2B selling strategies for eCommerce. Learn more at the National Hardware Show 2020

The obvious fact to boost your sales is to meet the needs of your end-user. 

However, in the case of Suppliers/Distributors/Manufacturers, their ultimate-Thule is another company rather than an individual. 

The usual B2C strategy is outdated in your case & you require a different strategy to manage your B2B business via eCommerce. 

Continue reading to learn more. 

The Upside of a dedicated B2B eCommerce

  • Get higher invoice volumes per client:Companies have a requirement of their own & they like to order in bulk.
  • Look more like B2C yet gather huge sales: The popularity of retail eCommerce has changed the habit of companies placing their order on an e-Commerce. Offer your clients the best customer experience by optimizing your -Commerce.
  • Stay ahead of your competition: B2B clients prefer to repeat purchases with the same supplier that they already know who has already met their needs instead of starting a new process of searching for new offers, validation, and decision-making. Build a website that retains them.

Optimize your website for B2B customer experience

You can find Altius Technologies at the National Hardware Show 2020 to implement the upsides of B2B eCommerce for you.

Your $1 spent on us= $4 ROI for you! Refer some of the common strategies followed to optimize a website to reduce website bounce rate & increase website referrals, website traffic rate and eventually sales conversion.

1 Give attention to your product page

A vibrant display of your product is an important part of optimizing your B2B e-commerce. It can be achieved with premium services from Altius Technologies like Product Catalogue Management, Product Data Management, Product Information Management, Enriching product data or by developing product Taxonomy & basing all information on Search Engine Optimization (SEO). Visitors will very easily lose interest if the product information is not relevant. Essentially, the mentioned services will update your product page with missing or new attributes and high-quality images. Once such services are implemented well, the Non-technical buyers can also understand and will be motivated to buy the product.

2 Automate your Inventory Management

Companies order in bulk. Imagine a situation where you had received a bulk order whereas you have no adequate inventory to supply. It can potentially harm your brand image. Automating your inventory management can save you a great deal of your time, labor, and money. Implementing such a service will make it easy to update, sync, and monitor all of your products and variants while giving shoppers a clear view when a product is low or out of stock. Also, a tool to automate your price quotation is a worthy addition.

3 Give Attention to UX Design

Your B2B website has to also look professional and less annoying to the visitors. Tips like: 
  • Using color, size, white space, etc., to set your most important content easily identifiable;
  • Making clickable items obvious.
  • Having a clean background and plenty of white space makes it look more professional.
  • Make calls-to-action stand out.
  • Highlight the user’s current location on the site.
Altius Technologies offers all the above B2B e-Commerce & Digital Marketing services and the same are up for your validation, assessment at the upcoming National Hardware Show 2020 in Las Vegas. 

About National Hardware Show 2020

National Hardware Show 2020 brings worldwide professionals offering innovative products & services together on a global platform to promote the hardware businesses in all sectors. It is an excellent opportunity for businesses to gauge the current market requirements and adopt the best strategies to benefit their businesses. National Hardware Show 2020 is scheduled for May 05-07 2020 at Las Vegas Convention Centre, Las Vegas, USA.

Arun Venkatraman

Helping CXOs succeed in the digital era by helping them capitalize on data and technology
Impact-of-Technology-on-eCommerce

Impact of Technology on eCommerce

eCommerce is gaining pace like never before. Every business is transforming itself from physical stores to online stores. 

Technological innovation is changing the way any business is being carried out. But what do we mean by technological innovation? 

How does it impact the business? 

What is the impact of technology on eCommerce? 

All these questions and more will be answered in this blog. 

Technology helps to Enhance Customer Experience

Thanks to technological advancements, businesses are able to create innovative ways to enhance user experience while shopping online.

Today online shopping is much easier and hassle-free. Products can be easily purchased, sold, and even exchanged. Shopping is a matter of few clicks on mobile devices and the product is delivered at your doorstep in no time.

Technology Provides Personalized Data

This is a relief for the B2B sector. Companies are switching to B2B eCommerce and need real-time procurement data. Technology enables gathering personalized data which allows B2B players to understand consumer behavior.

This eventually helps the business deliver data-driven services which enhances customer retention and attracts new customers.

Artificial Intelligence

Technology advancement has given us the gift of Artificial Intelligence. AI is more useful for B2B eCommerce players since they have a limited number of large transactions taking place from the consumer end.

AI allows businesses to work efficiently, automate manual tasks, provide critical insights for decision making, increase productivity, and lower costs by making business purchases intelligent.

Procurement Management

Procurement process is one of the processes that have a direct impact on the growth of the business. Technology enables procurement managers to understand business requirements and make effective decisions.

B2B eCommerce players can use technology to offer purchase recommendations to their customers. They can also make use of technology like the CRM platforms to make structure purchases.

Payment Process

Payment has been made completely digital by the eCommerce industry. Moreover, customers are liking this since it enables seamless purchases.

Corporates are making use of e-wallets and gift cards which is a technological reform. Technology has enabled transparent and secure payment methods.

The eCommerce industry has certainly been largely benefitted by technological advancements and shall continue to do so. Human needs have always given rise to innovation and this is a major reason for all the advancements we see today.

This upsurge of technological innovation shall keep benefiting both B2B and B2C eCommerce players, making the life of individuals simpler to manage.

 

Arun Venkatraman

Helping CXOs succeed in the digital era by helping them capitalize on data and technology

Identifying-the-Main-Challenges-Faced-by-Small-and-Medium-Enterprises

Identifying the Main Challenges Faced by Small and Medium Enterprises

Leadership

Most often when a business starts to grow, up to a certain extent having family-like bonding with the employees works for the business as employees are then willing to help the business sustain and grow.

However, when the business starts to expand and diversify, there is a need for strong leadership, the right skill sets, and talented coworkers. This is when finding high performers becomes a challenge.

In order to overcome the challenge, business leaders must be strong-willed and should encourage their employees to perform better from time to time.  

Strategy Planning

SME owners may find strategy planning challenging at times. Since strategy is the base for any business to function smoothly, it is essential to have the plan in place and seek help whenever required.

Now, thanks to technology, there are tools that can document single page business plans for the company. This helps you define a specific time period to achieve your business goals.

Execution

Once the strategic plan is ready, the next challenge is to execute the plan. Executing the strategy becomes difficult since there are some situation-based or sudden issues that the business must overcome.

Hence, the ideal solution is to break the yearly plan in quarterly plans and ensure that the goals are met accordingly.

Systems and Processes

Having defined systems and processes is as important for small and medium-sized businesses, as it is for established large organizations.

This is what makes the business more productive. Setting up systems and processes can be challenging; however, industry experience and professional guidance can help to line up systems and processes in place.

This in itself is a solution for systematic working and a sure shot method of enhancing your customer experience.

Employee Productivity

Employee productivity is considered to be a big challenge, since small and medium-sized businesses tend waste a lot of productive time in training their employees.

One of the solutions to this challenge is to train the employee while he or she works. This will help you monitor the mistakes and prevent them from repeating.

Another way of enhancing employee productivity is to set systems and processes. With all systems and processes in place, the employees know what and how they are supposed to work. 

Facing Competition

No matter how old your business is, no matter whether your business is offline, online, or both, you must keep your knowledge and skills updated. The solution to face this challenge is to learn the latest technologies, tools, and equipment to understand how the market works.

There are many more challenges that SMEs face such as cash flow, succession planning, growing revenues, staff turnover, fluctuation in ROI, etc.

Business owners must find solutions to these issues in order to keep the business running; and train their employees to efficiently manage the technical on-job issues.

In order to discuss such issues and discover innovative solutions to the various challenges faced by SMEs one must attend the upcoming B2B Expo Melbourne 2020 on 18th and 19th March.

Experts from Altius Technologies will be part of this event showcasing unique and creative online B2B solutions that can be easily integrated digitally and will help your business:

  • Create strong online presence
  • Generate more leads in less time
  • Improve customer experience

 

Arun Venkatraman

Helping CXOs succeed in the digital era by helping them capitalize on data and technology