Increase customer lifetime value and sustainably satisfy customers with your own B2B marketplace solutions!
When was the last time you, as a retailer, considered the question of whether your customers are actually happy right now? We are talking about existing customers, not the one who decided to buy on your platform the day before yesterday.
We see this topic over and over again, regardless of whether it’s B2C or B2B – the topic of existing customers comes up in very few. This is probably the biggest asset that has helped the big platforms to grow enormously – first and foremost Amazon & Co. Due to their high customer lifetime value, they are able to invest more and more money in innovations or in aggressive strategies for acquiring new customers. Depending on how you look at it, this is a dangerous spiral, for the winners in a positive sense, but for those who are just behind, it is also a disadvantage that will soon be impossible to catch up with.
Let’s look at the topic more specifically from the B2B world. In B2B we have per se first of all a higher willingness to make oneself visible as a customer, specifically e.g. to log into one’s customer account. Subsequently, however, it is often fatal how little platforms and shops think about what can be done in terms of existing customers.
Personalized Homepage
A simple self-test helps: log into your own shop with an existing customer account and look at what you get to see. Probably the typical “Welcome Mr. Miller” phrases, coupled with a few links to manage addresses, view old orders and the like. Have you ever asked yourself the question, who wants this? As a rule, the customer either wants to order something again (spare or wear parts) or is looking for advice, needs a special product (possibly matching a product ordered some time ago). There are various issues, but the likelihood of him wanting to record a new address is manageable (and doesn’t generate revenue). Think about it (or better yet, ask your customers) what is desired here. Often these are few and simple tricks, but they help immensely to increase satisfaction and thus strengthen customer loyalty and increase sales in the long run.
Additional Products through Marketplace Functions
Your products are often only a part of what the customer actually needs. With our partner Spryker and its
Marketplace Suite
it is no longer a million-dollar project to additionally offer your partners’ products via dropshipping or marketplace on your own platform.
Your products are often only a part of what the customer actually needs. With our partner Spryker and its
Marketplace Suite
it is no longer a million-dollar project to even offer your partners’ products via dropshipping or marketplace on your own platform.
Predictive Basket
In B2B trade, customers often repeatedly order similar or at least very closely related products. Our partner FACT-Finder has an exciting product in its Next Generation Suite especially for B2B manufacturers and retailers with the “Predictive Basket”. On the basis of purchasing behaviour and other profiling, shopping baskets are already filled or additional products are (partially) automatically added to the shopping basket or suggested for certain products. This easily leads to 20-30% additional item quantity across all customers while increasing satisfaction because customers are advised digitally.
Attractive Payment Processes
An often underestimated service is simple and voucherless payment in B2B trade. There is nothing worse than countless receipts for accounting purposes, especially in low-margin industries. Here you should take a close look at your customers and check which type of accounting and payment method fits best. Another common mistake is simply adapting customer activation processes and billing methods from the old “field service” world. Fast customer registration and activation processes on the one hand, but also a convenient payment and billing system make your customers happy and thus long-term customers.
An often underestimated service is simple and voucherless payment in B2B trade. There is nothing worse than countless receipts for accounting purposes, especially in low-margin industries. Here you should take a close look at your customers and check which type of accounting and payment method fits best. Another common mistake is simply adapting customer activation processes and billing methods from the old “field service” world. Fast customer registration and activation processes on the one hand, but also a convenient payment and billing system make your customers happy and thus long-term customers.
Key Account Management via Video Services
Again and again we hear sentences like “for this you need the expert advisor at the customer’s” or “the customer simply wants a personal contact person”. Both are probably correct, but can also be reproduced digitally. In the last few months, especially with the Corona situation, we have helped several retailers and platforms to quickly set up live chat and video consulting via smartphones and online platforms in simple and quick projects. So even during Corona (and we are convinced also afterwards) the need for advice and personal contact is guaranteed through video chats & co.
That’s 5 points now, which is nowhere near the end of the line. There are countless opportunities to increase the absolute contribution margin or revenue per customer by well over 50% annually and thus increase the scope compared to market and competitors to invest in innovation and growth. Ultimately, this is the basic requirement for every medium-sized company when it asks itself how it can still guarantee its raison d’être in 10 or 20 years’ time.
