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Why Distributors Need to Think More Like E-Commerce Companies?

According to a survey conducted by Accenture, 86% of US-based B2B companies with over 500Million USD in annual returns have already implemented e-commerce solutions as part of their offerings. If you haven’t realized this yet, now is the time to wake up, before you miss the bus.

The emergence of e-commerce in the last 5years has made a drastic change in consumer behavior and expectations.

Since we can assume that our B2B customer will also be at some point a B2C customer, his needs- satisfaction scale has a higher benchmark today.

In order to sustain in the market and stay relevant to customers, many B2B marketers are forced to emulate ‘the thought’ and ‘digital ideas’ that have helped e-commerce companies provide a successful customer experience (CX), Omnichannel experience, provide a mobile-optimized site and having a 24/7 sales team and support.

Behold the growth of B2B eCommerce.

Need for Online Presence

Absence in the online world is good enough to be considered non-existent. If you want to survive this digital age you need to build your online website capable of making sales.

If this wasn’t enough, you also need to make sure that you are ‘approachable’.

Meaning- a seamless customer experience through easy navigation and easy to the eye designs across the site. Also, make sure you have the right content for every product you display.

As a distributor, if your competitive edge consists of your services, on-time delivery, and other value-added services, make sure you mention it on your home page. You need to stand out in the crowd.

Build Customer Trust

A first -time customer will always hesitate to buy a product. But by looking at the design and how you have marketed yourself on your home page, the customer may be inclined to go and view your products.

But, if you have done a sloppy job of providing low-res images and insufficient product content, the customer will exit your page immediately.

Hence, to avoid this blunder, make sure you provide accurate product content, tech specs, and also guidance notes, that would help the customer understand the other uses of a specific product. These qualifiable guidance notes might just take you to the home stretch.

Effective SEO

Today it’s all about SEO.

Search Engine Optimized keywords are KEY in writing product content. If your content words are not going to come up when somebody searches for a product, what use is your online presence.

Some B2B companies, use SEO keywords in writing their blogs & whitepapers. Google’s algorithm is much more likely to show a useful page than an e-commerce product page.

How do you do this?

Put yourself in your buyer’s shoes.

Imagine the toughest questions he may have for which you have the answers. Create a blog around this and publish it. Using effective SEO will help increase your B2B e-commerce sales.

Digital Upselling

As a brick and mortar distributor, your sales team will be in the habit of up-selling products to customers, claiming a future need that they may have. The same can be done in the digital world too.

Send email blasts– personalized your email blasts to customers who may need a specific product. Use limited language. Use a solution based content to get the maximum effect of your email.

Personalize suggested content– With the use of many tools online, you can reach out to your customer browsing your webpage with recommendations that you think he might like.

Digital Customer Service Acess

With e-commerce, some unlucky customers may have issues with drop shipments, or breakage of products during shipment.

Make sure you have a team to deal with this. Your customer needs to know that you understand his unhappiness and you are here to fix it. Bottom line- retain your customers. Do not lose him to the competition.

Increase Customer Service Accessibility Online

There are many tools online that one can use to create a chat screen or raise a ticket for issues.

The former tools can be placed as part of your home page, giving your customer easy accessibility to your sales & service team when he has a doubt or issue to be sorted.

Integrate your Systems

Small or big, you must unify all your information for better data management. This also helps in digital marketing and customer service efforts. Integrating all your information will save you unnecessary headaches and build long-lasting customer relationships.

Choosing the right CRM is key here.

Many world-famous B2B e-commerce companies known for their free drop shipping have implemented CRM for a seamless flow of information throughout the company.

Listen up Distributors

You are not the only B2B distributor in town. Certainly not in the online world either. The millennials go online, choose their requirement and get it shipped to them in a matter of minutes.

The whole sales process is completed in less than half the time needed in a brick & mortar store. If your standards and services do not meet the customer benchmark, you may lose to your competition.

It is very important to start alert, ahead and aware of your customer’s needs and choices.

Bringing out your very own e-commerce store is the need of the hour! Having said that, you also need to go that extra mile to satisfy your customers in every possible way from service offerings, product offerings and after-sales help to retain and build your customer loyalty online.

Choosing an entity/agency to handle your website requirements would be the smart thing to do.

Altius Technologies has helped many B2B distributors, set up their e-commerce store with a unique and flawless seamless design.

 
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How Distributors & Manufacturers Double their Revenue in the first 3 Quarters?

Fortunately, thanks to the advancement of eCommerce industry, customers can find everything online ranging from cosmetics to electronics. And thanks to the upsurge of internet users across the globe, the eCommerce market is worth $1.1 trillion. However, the same internet upsurge that has benefited the e-commerce industry has become a source of competition for the distributors, retailers, and manufacturers. A market study shows that in 2018, 47.3% of internet users have made successful online purchases and the number has grown ever since. This clearly means that eCommerce distributors and manufacturers have a large scope of enhancing their profits. If you are looking for ways to take advantage of this growth, then this blog offers a master strategy that will double your revenue in the first 3 quarters, and in just 4 easy steps.

Standardize the Content

Needless to say, strong content helps you attain customer trust. Standardizing the content and efficient content marketing helps you in customer retention. A useful content strategy includes:
  • High-quality, detail-oriented, and informative product descriptions
  • A well-defined Schema to improve your search engine results. A recent study has shown that websites with schema rank an average of 4 positions higher in the Search Engine Result Pages (SERPs).
  • A user-friendly taxonomy to showcase your product list, enhancing the online shopping experience for the buyers
  • Appropriate meta titles and meta descriptions to make your website visible on the SERPs
  • Comprehensive product catalogs for showcasing product range
  • Product reviews to reflect the honest opinions of the existing customers.
There are roughly only 0.3% websites that are standardizing the content in real sense. This means you have more chances of increasing your visibility on SERPs by following a robust content strategy. Click here to view some best practices of writing product descriptions.

Build an online catalog

Distributors and manufacturers can be highly benefited by creating an online catalog of their products. Firstly, an online catalog offers an immediate view of all changes in the product list available for buyers. In today’s competitive era, quick product updates can be offered with the help of e-catalog One of the most important advantages of having an e-catalog is being able to sync the inventory across the value chain. For instance, if a manufacturer chooses to stop producing a product, the entire value chain is updated immediately and the product stops appearing in the e-catalog. This prevents any order being placed for the same product and saves any unsuccessful purchases. This means attracting more retailers, resulting in better sales. In addition, here are some more advantages of e-catalogs:
  • More accurate orders leading to better customer satisfaction
  • Better purchasing process
  • Reduced raw material costs like paper, printing, and so on.
  • Reduced costs for data processing operations.
Click here to read more about choosing the right platform for creating online catalogs.

Build an API

API or Application Programming Interface is a gateway that connects two distinct databases, helping them communicate better. For instance, with the help of API two different e-catalogs can be easily uploaded online. APIs will connect your products with other products without the need for implementation. APIs will also sync the inventory online keeping the product list updated in real time. Here are some benefits of building an API
  • APIs can instantly help the retailers and distributors go online. This will eventually help them attract more customers online, increasing their revenues.
  • APIs can help distributors and manufacturers create a network with their clients, vendors, suppliers, partners and even employees.
  • APIs help to streamline operations

Promote your Products

A detailed product description made available to the customers through e-catalog does half the work for the distributors. A large percentage of the other half goes to product promotion. Studies have shown that 64.6% of people click on Google ads anytime they are wanting to buy something online. Here are some ways in which you can promote your products online.
    Search Engine Optimization (SEO) defines the product for its target audiences. SEO establishes the technical parameters that allow your product to appear on the top search results and helps you direct your customers to the most convenient distributor or retailer available.

    Conclusion

    Standardizing content, e-catalog creation, API creation, and Online product promotion are the four key strategies that will attract more customers to your websites. By following these steps, customers will have an enjoyable shopping experience. This means the buying decision made on the website has increased by over 63% which means increased sales and revenue generation.
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E-Commerce for Industrial & Machine Tool businesses

Regional Industrial & Machine Tool show like the upcoming expo in Tulsa, Oklahoma is great for businesses to stay relevant and updated with the latest trend in the industry. It is a great opportunity for distributors, retailers to gauge their client expectations and needs.

E-Commerce is extending your existing physical business to supply your products & services to a global audience of the small, medium, large businesses. In order to scientifically organize and set-up your business on an e-commerce platform, expert assistance may be required.

Altius Technologies is a leading e-commerce solutions provider for businesses in need of expanding their business interest online, increasing conversion rate, lead count or improving customer satisfaction.

Keeping in mind the following trends may lead to the successful inclusion of e-commerce for your Industrial & Machine Tool business.

Customers desire personalization of services

An interesting trend that has come out is that B2B customers are now expecting B2C services only with lesser time to spare.

Businesses can personalize services by offering product recommendations in the same window, options for dynamic B2B pricing for bulk orders, accessibility of delivery options when specific products are clicked, payment & transaction history are some of the emerging trends in e-commerce for B2B such as Industrial & Machine Tools.

Improve connect with the global audience

Having a multi-lingual User Interface is a good option to have if your e-store is eyeing for a global audience.

Often the ‘privacy policy’, ‘terms & conditions page’ & ‘about us’ pages are least cared for but are increasingly becoming important to make it more visibly crisp and short to gain legitimacy among the global audiences.

Multiple Product attributes

Having multiple product attributes on a single product with genuine information can make a regional player evolve into a major supplier of industrial & machine tools.

Also, the demand for refurbished or obsolete machine parts to manufacturers around the world is only to be increased with E-Commerce.

We would love to invite you to come and experience our various tools and techniques like product data enrichmentproduct data cleansingenriched segmentationpersonalization, etc. at the upcoming Tulsa Industrial & Machine Tool Show at Expo Square – Central Park Hall, TulsaOklahoma on May 6-7, 2020.

Home-Builders

Opportunity for Home product & service distributors to prioritize their eCommerce essentials

There are specialized conventions for almost every trade. Businesses dealing with home products & services like flooring, kitchen, bath designs, and fixtures, window treatments, decks, fencing, windows, siding, doors, gardening tools, other building materials and so much more can prioritize their eCommerce essentials in an exclusive convention organized by the Home Builders Association of St.Louis and Eastern Missouri. 

The annual Building & Remodeling Show from September 25-27 2020 will be held at St. Charles Convention Centre in St. Louis.

The show is regarded as the Area’s Largest Fall Home Event that offers the local retailersdistributers to acquire newer ideas & receive expert advice from consultants to improve business. 

The previous editions of the show have claimed to have converged the interests of local distributors, retailers in finding the latest products and develop themselves both personally and professionally.

The upcoming 40th edition of the Building & Remodeling Show in St. Louis will showcase various eCommerce solutions from Altius Technologies for targeting online customers more efficiently.

Must have eCommerce essentials

The increasing base of online customers has encouraged companies to re-platform their B2B eCommerce platforms to improve their improve customer service. 

Altius Technologies recommends the following checklist to keep in mind for full digital integration that could lead to a seamless account, warehouse, sales, and inventory management. 

Improve product discoverability Using Fully-Faceted Search

Maintaining a large product catalog can be cumbersome and it is essential to make their discoverability as simple as possible. In such a scenario, a regular site search system becomes redundant.

However, using a full-faceted search index that includes comprehensive product attributes, filters, comparison feature, etc. will improve your product discoverability for your customers. 

Include Multi-Lingual Product Selection

Go international by having your products and information available in different languages online.

This will dramatically expand your business reach while giving you a competitive advantage.

Improve Back Order Management

Make use of the backorder management tool to ensure that you always have the required stock.

It will also enable you to give your customers the option to receive an automated backorder report on a specified schedule, track deliveries and monitor delivery statuses to provide an accurate ETA. 

Personalize Content with Targeted News

Segmenting your customers into groups will make the content and features of products more relevant to the customers.

The functionality will then allow accurate targeting of news, banners, and other content to improve visibility and enhance customer satisfaction.

Meet the representatives from Altius Technologies and get the first-hand experience of its various eCommerce solutions to boost your business at the upcoming Building & Remodeling Show on September 25-27 2020 in St. Louis.  

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4 Steps to Success in eCommerce

“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.”-Jeff Bezos, Founder of Amazon.com

“With so much competition, it is very difficult to succeed in the digital space. I am thinking of setting up a physical store instead of setting up an eStore.” This was told to me by a distributor who sells hardware products. At the end of the meeting, he understood that regardless of setting up the physical store or not, he has to be there in the digital space, just for a simple reason that it is more cost-effective and isn’t as hard as it sounds. We at Altius are in the process of setting up his online stores.

Let me explain the 4 simple steps that gave this business owner to take the online route.

1. Open your shop

Opening a physical store and an online store is not very different. The first step is to find the right location and just set up the shop.

In case of an online store, it is nothing but choosing the right domain name and the right platform to set up your store. You can read about how to find the right platform here.

2. Spread the Word Out

The next step after opening your shop is spreading the word out that you are now open. You may choose to advertise in the local magazine or distribute flyers, local TV Channels, etc.

It is the same in case of your online store as well. Choose the right channel (Social Media, Google Adwords, Retargetting, etc) and spread the word out.

3. Host your customers

Now that you are open, and have spread the word out, you have to make your customers feel comfortable, for which, you set up a nice name board designed, have signboards placed all across, guiding your visitors to the right place where they can find the product they are looking for (for example, Men’s Section, Women’s Section, Kid’s, etc)

This process is also the same when it comes to an online store, it is called On-Page optimization. You help your customers find the right information on your website, set up the right Taxonomy, fill your product pages with an adequate amount of information, helping your customers to make a buying decision.

4. Price it right

This is the final step where you price your product right and offer discounts wherever possible. This is a step that the business owner has to carefully and calculatingly take. Price your product right and in a way that you are highly competitive.

It is as simple as that. The process hasn’t changed at all, it is just the medium where we sell has changed.

Should you need any guidance on how to set up / get more business out of your online store, please ping me or write to me on arun.venkatraman@altiussolution.com. You might want to check out our website and fill up the contact form there as well, our website address is www.altiussolution.com

 

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What is the Impact of eCommerce on Real Estate Industry?

Technology has influence over all the areas in our life.

E-books over hard bound books, e-papers over newspapers, e-mails over letters, and whatnot.

Foot falls in physical stores are not replaced by clicks on websites and e-stores.

The eCommerce industry has grown rapidly and even reached industries which were not thought of, like the real estate.

The shopping habits of the younger generation has shifted to mobile and digital platforms. This is the reason why businesses have transformed to an online version by taking the help of eCommerce technology.

Customers are getting more comfortable with using eCommerce in the real estate sector as it offers easier purchase and faster delivery time.

The real estate industry is reacting to new market trends and reevaluating its business models and strategies. eCommerce is helping the market adapt to the changing trends and technologies and stay updated. According to market research, the youngsters are wise buyers.

They visit malls and physical stores to check the products, its texture, and physical touch, and then check the same product online to check for alternatives and price options. This gives more clarity and purchase options to the interested buyers.

So, here are some prominent changes seen in the real estate industry due to eCommerce and related technologies.

  • The companies are working with eCommerce sites to find warehouses in metropolitan cities and other key locations to enable faster delivery.
  • Conventional and digital retailers are learning new marketing trends to connect with their target audiences.
  • Retail stores are not only going online but ensuring to have an offline presence for service-center and maintenance purposes.
  • Retailers are trying to innovate and re-work on their in-store product experience, which is helping them face online competition and sustain customer retention.
  • Retailers are coming up with omnichannel strategy which helps them diversify their sales and marketing activities across multiple online channels like mobile, in-store, social media, etc.

Although the real estate is adapting to eCommerce and other online technologies, it will take time before the market is completely evolved. With time, the waves of digital transformation will take over the real estate industry.

Experts from Altius Technologies will be showcasing their unique online customizable B2B products and services at the upcoming event Doha Exhibition and Convention Center on 7th to 9th April 2020.

This is an opportunity for our existing customers and new prospects to reach out to us to discuss their online business requirements.

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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 ManagementProduct Data Management, Product Information ManagementEnriching 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 CentreLas Vegas, USA.
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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.