Investing in your E-Commerce Business – B2B

There’s no doubt that popularity is soaring for e-Commerce. There is a perceived simplicity to the concept of taking a business online, though there is actually a lot of finesse involved, such as advanced technologies and real-time integration. It makes sense to jump into the e-Commerce world, but surviving and actually thriving? That’s a different matter.

We should invest, continually, in our online stores. Just because a business is online does not mean it is self-sustaining. From the animated movie “Up”, the old man’s wife describes South America by saying, “It’s like America, but South.”

Well, this is like a regular store, but online.

Your Resources

One of the ways a business invests in e-Commerce is staffing. A business requires the resources and the know-how to run a webshop. Maybe we shouldn’t think about specific roles that we need but rather what needs to be done. Find suitable people who can manage these tasks and more because it’s a fast-moving environment. Don’t underestimate the amount of work that has to be done. Is it possible to do it all ourselves? Maybe, but it’s worth investing in the right team to help us reach our business goals.

Your Customers

Customer service and support are always relevant, even in a B2B environment. It’s still important because those relationships and customer engagements can stretch out far longer than in a B2C business model. There is generally a more substantial investment, longer customer life cycles, and an expansive business network in B2B. Being in a digital space, there are new ways to connect with other businesses and potential customers/clients. Business is open 24/7 so reliable services are important and issues should be dealt with promptly. Being there for them at every stage is not always necessary, but it is an available option. The information and data available to us now through e-Commerce can help us nurture these customer relationships at any stage. Ultimately, you add value to your business by investing in your customers.

Maintenance

Merchandising needs to be maintained, whatever it is we are selling. Even if it’s an intangible service, information always needs to be correct and up to date. Correct information and availability is vital in a regular store, and even more so in an online space. Sometimes customers can get the impression that there is more stock than there really is as it is not limited by shelf space in a store. Online space appears to be infinite. This is why keeping our inventory well-managed is important.

Nothing Should Be Static

Information, content, and data will stagnate if you do not invest in maintaining it. Things change with time, seasons, and the environment. Physical stores never stay the same and businesses continually improve and change strategy, so why should your online store remain the same? In a B2B space, testing is important. Keep things fresh and be creative in ways to attract customers. With a flexible and integrated solution, you can manage promotions and coupon codes, campaigns, easily from within your ERP system.

Invest in Relationships

We’ve already discussed customer service, but social engagement deserves its own paragraph. Social media is just another way to connect to potential customers, existing customers, and get feedback, but it’s also a way to sell your company’s story. While it is not necessary to be present on every single social media platform, it is important to put out a united message across the platforms you do choose to use in your strategy. B2B is a little harder to market than B2C so having every little advantage counts. It’s not so much social media but fostering an online community. With some smart marketing and leveraging of tools available, it can be powerful for your B2B business. Social media also involves us investing in our business in a very different way; we have to commit to learning the skills in order to succeed. Moving into the digital space requires new skills and the ability to quickly adapt, as well as investing the time and care into it as you do other parts of our business.

So what is it that we need to do?

Planning and strategy are the foundation of your business, but having the resources also matters. Do a situational analysis and make sure every part aligns with business objectives. Are all the components streamlined? Does it make sense for your business? Can you make it make sense?

We need to continue to set targets and goals like we would for any store. We need to make sure that we are on track and capable of making changes as we go as needed. Microsoft Dynamics™ NAV has a lot of data just waiting to be utilized in a business strategy. Investing in the right e-Commerce solution that leverages this technology, like Nav-to-Net™, can propel your business in the right direction. There are so many features that make running your business easier. Finding the right solution is just the first step in investing in your B2B webshop.

How are you investing in your business?

Talk to us about how Nav-to-Net™ could be the right investment for you. Email us at sales@dvp.net or Request a Demo.

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