E-Commerce has revolutionised the way the world does business, enabling greater convenience for buyers to make purchases anytime and anywhere in the world. While many companies are eager to jump on the bandwagon, B2B eCommerce is a whole new ball game compared to B2C businesses given the constantly-evolving technologies available and ever-changing customer expectations.
To solve this issue, B2B companies are making it a priority to optimise their channel in the highly competitive eCommerce landscape. If you're looking for strategies to achieve sustainable growth for your B2B eCommerce business, let's look at 5 ways to ensure that your company gets ahead of the curve.
Research is the basic foundation of any successful business as it will help you make more informed decisions. This can help you serve your clients better by giving you a better understanding of their wants and needs. Research also acts as the basis for all your marketing decisions. One business decision that is important for you to consider is what to specialise in.
Companies that specialise in a particular field and target niche customers tend to grow faster compared to others. Your area of specialisation should be something that you have an in-depth understanding in so that you can be recognised as an undisputable expert and leader in your particular field. This can help define exactly what your firm can offer while clearly distinguishing you from the rest of your competitors.
In today’s digital age, a professional website is crucial for building visibility. As 80% of customers check out the websites of service providers before making a purchase, you must ensure that your website must be easily found when potential clients search for you.
Apart from being a medium for your firm to display its industry expertise, you should also pay close attention to your website’s design as it can help to differentiate your brand from your competitors and lend much-needed credibility to help your firm thrive.
Lastly, you should also ensure that your website utilises responsive web design which enables it to adapt to any user’s device such a mobile. This is increasingly important as more and more people switch to mobile devices to do business.
A strong social media presence is key even for firms offering professional services as it has become second nature for buyers to scope out scope service providers on platforms such as Facebook or Instagram.
Such platforms can not only expand the reach for your brand but also allow you to network with important contacts and influences that can promote your services for you. Social listening can also help you monitor your firm’s reputation and establish it as the best resource to help clients make a purchase decision.
To make the most of your marketing dollar when you are creating your Facebook or Instagram ads, consider the Aspire Corporate Card which offers businesses with 1% cashback on digital marketing and Software-as-a-Service (SaaS) spend. With no annual fees or hidden charges, this is your best bet to ensure that you are putting your marketing budget to good use.
8 out of 10 businesses fail within the first eighteen months with cash flow management being one of the most common factors cited. To beat these odds, you need to have a good handle of financing and record-keeping while ensuring timely cash flow that can keep up with your operating costs.
For easy record-keeping, consider opening a bank account that allows quick access to your business finances while you are on-the-go. The Aspire Business Account does not only provide a cheaper alternative compared to other banks but also makes it easy for you to customise reminders and schedule future transfers, making it an all-in-one platform for all your business financing needs.
To measure results effectively, make sure that you are always keeping a close eye on the right metrics. Learn about all the tools you can use to accurately obtain data from all your efforts ranging from your website to all the social media platforms you are using.
Google Analytics is an essential tool to measure and analyse your site traffic while Hootsuite can help provide analytics for your social media accounts. These are just two out of many other tools available online that can help you understand what works and what doesn’t so that you can allocate your time and effort effectively.
The most important thing is that you must constantly find ways to help your B2B business evolve and improve. Your goal here is not only to keep up with the latest trends and resources but also to stay ahead of your competitors so that your business will thrive.
Aspire is Southeast Asia’s 1st business neobank that serves e-commerce sellers with convenience and simplicity to manage their finances with the Aspire Account. Opening an account is free, 100% online, and done within 5 minutes!
It comes with the Aspire Credit Line offers an easy and affordable working capital financing solution to help you grow your business.
Powered by Transferwise, Aspire FX presents the lowest FX fees in the market, up to 7x cheaper than most banks, available to transact across 50+ currencies.
Finally, the Aspire Visa Card is a virtual debit card that offers cashback on a large set of qualified merchants for digital marketing and software subscription spend.
The only card to offer e-commerce business cashback that actually matters. Start making those spendings into savings, today!