Category: B2B eCommerce
While the holiday shopping season doesn’t play as big of a role in B2B business’ annual eCommerce strategies, that doesn’t mean that there aren’t ways to optimize sales this time of year.
To compete during the holiday season a B2B business must go beyond simply offering additional sales and promotions. One way to ensure success and optimize sales when your buyers are busy and distracted by the chaos happening around them, is by focusing on making sure the buying process is as seamless as possible. Looking at the entire supply chain will help you identify gaps, or opportunities, to optimize the experience for your buyers.
Often these opportunities can be rooted in (a) making sure you have a single source of truth for all orders, and (b) creating a more seamless experience for your suppliers. In turn, these opportunities create a commerce experience where inventory is better managed and displayed as pricing changes, shipping charges, and availability changes throughout such a demanding time.
Here are 3 Ways to Improve Your B2B Holiday Season Results
- End to End Supply Chain Oversight via a Single Source of Truth for All Orders: Integrating all business critical systems and order entry processes can provide end-to-end visibility of the supply chain. This allows a business to make more informed, essential decisions regarding inventory allocation, replenishment and more during a time where getting a package on time is critical (and expected) for many of their customers.
- Supplier Product Management: Offering suppliers digital self-service allows them to manage their own product catalog, pricing, shipping requirements, and more. Putting the control of the product catalog into the hands of suppliers also ensures that inventory is closely monitored and accounted for. Not only does this take responsibility off of the B2B business, but it ensures that the final customer is getting an accurate view of the products that are available. Suppliers can see stock levels, adjust pricing, and allocate inventory appropriately. Supplier fulfillment rules, such as minimum order amounts, order cut-off times, and low inventory notifications, also give the supplier more control over managing the experience for buyers.
- Featuring Seasonal Suppliers: The holidays create inconsistencies in product demand – both in what is available and what people want and need. Featuring new suppliers who offer something your buyers may be wanting or needing during a busy time may attract activity and sales. And offering supplier self-service makes it easy for those suppliers to onboard themselves so that you can focus on driving traffic.
As this year comes to a close, it’s still a great opportunity for B2B businesses to take advantage of the influx of online activity. Focusing on gathering insights from order data across the business, as well as connecting and simplifying the supply chain should help improve your B2B holiday season results.
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