Some good news for your business in an unprecedented year: e-commerce sales will explode this year!
According to Forrester Research, (an American market research company that provides advice on existing impact of technology to its clients and public) online retail will grow by 18.5% this year, with health and beauty seeing a 23% growth, consumer electronics rising by 20%, fashion by 19%, while home furnishing will grow by 16% by year’s end. On the other hand, according to Deloitte, e-commerce holiday retail sales are expected to grow between 25% to 35% from November through January, reaching $182 billion to $196 billion in total.
With shoppers eagerly waiting for the holiday season to bring cheer and more than essentials into their homes, it’s only astute for businesses to make sure they are able to boost their e-commerce sales through effective marketing strategies and optimized processes. Here, we navigate how best to alleviate operational stress during the holiday season while you ensure you are getting the right conversions on site.
- Simplify Adding New Business: With impetus on preserving cash flow being high this year, companies can set up an online B2B registration process which includes vetting questions like store location or company background for expediting validation. A revamped and automated registration process doesn’t just save time but ensures everything runs effortlessly. With checkpoints in various places that are given final approval by a reviewer, you are able to safeguard your entire pricing system.
- Make Order Fulfilment Process More Efficient: In case of B2B processes that look at high order volume from buyers, stocking up on inventory ahead of a busy selling season, while automatically applying volume discounts will ensure you save on time and effort. Afterall, if the seller has to manually apply discounts while the buyers create separate orders from their quotes then the additional steps can hurt conversion rates – definitely not conducive to any business and order fulfilment process!
- Personalise Shopping Experiences: Avoiding a one-size-fits-all approach not only increases engagement, but drives more sales as a result of customization. In the case of B2B sellers, large volume accounts could see the highest discounts, or an international customer could only see products available in the region. However, when you highlight a curated set of products, you optimize conversion rates thanks to a personalised shopping experience.
- Take Advantage Of A Self-Serving Account Management System: Direct management of purchase orders and invoices is convenient for buyers instead of reaching out to customer service teams, therefore, ensure the business accounts are directly able to manage everything, easily restocking inventory and paying their bills. Additionally, for custom-made items that require one-time quote, enabling buyers to convert their quote into a sale is a huge time-saver. With NetSuite’s ecommerce solution leveraging these strategies, you can always create the ultimate B2B ordering experience.
- Market Intelligently: Keep an eye-put on marketing essentials as part of boosting your sales strategy. a) Ensure you plan your holiday marketing campaign well in advance – this includes creating special holiday campaign that covers display ads to re-marketing emails and promotion code; b) Along with a solid web design where your customer can easily navigate, make sure your website can handle the traffic without any hiccups; c) Take advantage of social media with engaging content via blogs, reviews and videos; d) Partner with influencers to create a sense of urgency as you use this time not only to leverage sales but boost brand visibility. Create a combination of offers with a healthy dose of complementary products to attract more customers; e) Review your keywords. Improve the experience on the landing pages for the most common transaction-oriented keywords as you study how to use Google Analytics to understand your customer base.
Get in touch with us here to know how to leverage SuiteCommerce and ensure you have reimagined it for a promising holiday season. Get ready to make this year count!