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Beyond Lead Generation: How to Close the Sale Online and Grow your B2B e-Commerce Revenue

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Beyond Lead Generation: How to Close the Sale Online and Grow your B2B e-Commerce Revenue

  1. 1. Beyond Lead Generation: How to Close the Sale Onlineand Grow your B2B e-Commerce Revenue<br />Joe Rawlinson<br />Senior e-Commerce Product Manager & StrategistNational Instruments<br />@joerawlinson<br />
  2. 2.
  3. 3.
  4. 4. B2B<br />
  5. 5. X%online<br />
  6. 6.
  7. 7. Why?<br />
  8. 8. Source: “The Tyranny of Choice”, The Economist<br />
  9. 9. NarrowChoices<br />Reduce Complexity<br />Source: “The Tyranny of Choice”, The Economist<br />
  10. 10. Revenue<br />5-40%<br />Reduce Costs<br />10-35%<br />Source: “The Tyranny of Choice”, The Economist<br />
  11. 11.
  12. 12. Virtual Sales Visit<br />
  13. 13. You<br />Customer<br />
  14. 14. Traditional Wisdom<br />
  15. 15. More is better? Right?<br />
  16. 16.
  17. 17.
  18. 18.
  19. 19. Unfortunately…<br />
  20. 20.
  21. 21. Psychology<br />
  22. 22. Look at Examples<br />
  23. 23. Homework<br />
  24. 24. Write it Down<br />
  25. 25. Do Something<br />
  26. 26.
  27. 27.
  28. 28.
  29. 29. Which attracted more people?<br />
  30. 30.
  31. 31. Which led to more sales?<br />
  32. 32.
  33. 33.
  34. 34.
  35. 35. 10 X More Likely to Purchase<br />
  36. 36. Buy<br />Customer<br />Choices<br />
  37. 37. Confused<br />
  38. 38. Quick and Easy<br />
  39. 39. Perfect Choice<br />
  40. 40.
  41. 41. Mental Overload<br />
  42. 42. Analysis Paralysis<br />
  43. 43.
  44. 44. Walk Away<br />
  45. 45. Pick<br />
  46. 46. Choose<br />
  47. 47. You Need to Be Chosen<br />
  48. 48. Understand Choices<br />
  49. 49. Understand Tradeoffs<br />
  50. 50. Dilip Soman<br />
  51. 51. John Gourville<br />
  52. 52. Alignable vs. Non- Alignable<br />
  53. 53. Large<br />Medium<br />Small<br />Alignable Trade-Offs<br />
  54. 54. vs<br />Alignable Trade-Offs<br />
  55. 55. Non-Alignable Trade-Offs<br />
  56. 56. vs<br />Non-Alignable Trade-Offs<br />
  57. 57.
  58. 58.
  59. 59.
  60. 60. Solutions<br />
  61. 61. Simplify Choices<br />
  62. 62.
  63. 63.
  64. 64. Product Presentation<br />
  65. 65. Unit Growth<br />+29%<br />Revenue Growth<br />+28%<br />
  66. 66. How can you simplify choices for your customers?<br />
  67. 67. Help with Preferences<br />
  68. 68. Show Trade-Offs<br />
  69. 69. Conversion to Cart and Quote +50%<br />
  70. 70. Intelligent Selections<br />
  71. 71. Collaborative Filtering<br />
  72. 72. How can you help customers understand their preferences and tradeoffs?<br />
  73. 73. Organize and Eliminate Options<br />
  74. 74.
  75. 75. Help Me Choose<br />
  76. 76. Simple, Relevant Question<br />
  77. 77. Show Applicable Products<br />
  78. 78. 2X<br />Find a Product<br />Help Me Choose<br />
  79. 79. How can you organize and eliminate options to best help your customer?<br />
  80. 80. Attribute-Based Decisions<br />
  81. 81.
  82. 82. Step-by-Step<br />
  83. 83. Step-by-Step<br />
  84. 84. Step-by-Step<br />
  85. 85. Step-by-Step<br />
  86. 86. How can you simplify the choice to one attribute or care-about at a time?<br />
  87. 87. Recommendations<br />
  88. 88.
  89. 89. Defaulting Accessories<br />
  90. 90. How can defaults or recommendations help your customers?<br />
  91. 91. Social Proof<br />
  92. 92.
  93. 93.
  94. 94. Localized Social Proof<br />
  95. 95.
  96. 96.
  97. 97.
  98. 98.
  99. 99. Targeted Social Proof<br />
  100. 100. Localized Social Proof<br />
  101. 101. How can yousprinkle social proof into your marketing?<br />
  102. 102. It is Time to Buy<br />
  103. 103. Now What?<br />
  104. 104. Match Buyer’s Process<br />
  105. 105. If they can’t pay…<br />
  106. 106. Walk Away<br />
  107. 107. Buy Right Away<br />
  108. 108. Have an Online Store<br />
  109. 109. Accept Credit Cards<br />
  110. 110. Split Over Multiple Cards<br />
  111. 111. Local Bank Cards<br />
  112. 112. Bank/Wire Transfers<br />
  113. 113. Purchase Orders<br />
  114. 114. Print and Fax<br />
  115. 115. Tax Exempt Status<br />
  116. 116. Email Orders<br />orders@ni.com<br />
  117. 117. What order methods are you missing?<br />
  118. 118. Facilitate Purchase Approvals<br />
  119. 119. Quotes<br />
  120. 120. Proposals<br />
  121. 121. Enable Collaboration<br />
  122. 122. How can you help your customers convince their boss?<br />
  123. 123. What about purchasing agents?<br />
  124. 124. Show Discounts<br />
  125. 125. Add by Part Number<br />
  126. 126. Terms and Conditions<br />
  127. 127. Re-Ordering Tools<br />
  128. 128. How can you make a purchasing agent’s life easier?<br />
  129. 129. Take it Offline<br />
  130. 130. Phone Option<br />
  131. 131. Chat<br />
  132. 132. Contact as the Call to Action<br />
  133. 133. When would offline save the day?<br />
  134. 134.
  135. 135.
  136. 136.
  137. 137. Virtual Sales Visit<br />
  138. 138. Simplify Choices<br />
  139. 139. Help with Preferences<br />
  140. 140. Organize and Eliminate Options<br />
  141. 141. Attribute-Based Decisions<br />
  142. 142. Recommendations<br />
  143. 143. Social Proof<br />
  144. 144. Match Buyer’s Process<br />
  145. 145. Buy Right Away<br />
  146. 146. Facilitate Purchase Approvals<br />
  147. 147. Take it Offline<br />
  148. 148. Do Something<br />
  149. 149.
  150. 150.
  151. 151. Homework<br />
  152. 152. X%online<br />
  153. 153.
  154. 154. Thank You<br />Beyond Lead Generation: How to Close the Sale Onlineand Grow your B2B e-Commerce Revenue<br />Joe Rawlinson<br />Senior e-Commerce Product Manager & StrategistNational Instruments<br />@joerawlinson<br />joe.rawlinson@ni.com<br />(512) 683-8583<br />www.linkedin.com/in/jrawlinson<br />
  155. 155. Takeaway Points<br />Create the Virtual Sales Visit<br />Reduce the Complexity of Choice<br />Match the Customer’s Buying Process<br />

Notas do Editor

  • Today we’re going to talk about getting more money through your online, e-commerce channel…http://www.flickr.com/photos/tracy_olson/61056391/By Tracy O Under CC BY-SA 2.0
  • In B2B typically we focus on lead generation. When in fact…
  • Some percentage of your revenues should be processed through your website. This percentage will of course vary based on your business and the types of products you sell. However, online sales mean higher margins on these sales and will free you up to focus on other efforts. Today we’ll talk about how to get more people to purchase online through your site.http://www.flickr.com/photos/tracy_olson/61056391/By Tracy O Under CC BY-SA 2.0
  • First we’ll talk about choices. The types of choices your customers are facing, why they are so complex, how it is impacting your customer’s purchase decisions and what you can do about it.http://www.flickr.com/photos/y_i/2330044065/sizes/l/in/photostream/ by i_yudai under CC BY 2.0
  • Why should we learn about choices?
  • The smart folks over at Bain &amp; Company did some research and found that…Source: http://www.economist.com/node/17723028
  • When you reduce complexity and narrow down choices, great things happen…Source: http://www.economist.com/node/17723028
  • Revenue goes up and expenses or costs go down. Both of which are fabulous. We make more money and are more profitable. Both things that companies likeSource: http://www.economist.com/node/17723028
  • This means that we need to fill a certain type of job. And that job is…http://www.flickr.com/photos/gottgraphicsdesign/4543701893/in/photostream/ by Brenda GottsabendCC BY 2.0
  • Creating a virtual sales visit on your website. Your website must be able to customize the presentation of products and the sales pitch just like a sales person can do in a one-on-one setting.If you show products you need to architect the experience so customer makes good choice.Create the ideal customer experience so the user is enabled to make a good choice and feels confident making the choice.(Richard Thaler, Nudge) For example…http://www.flickr.com/photos/tanelteemusk/2914479607/in/photostream/ by Tanel Teemusk CC BY-SA 2.0
  • This is you. This is your customer. You need to guide their decision, reduce confusion.Help them so they take the steps in the right directionhttp://www.flickr.com/photos/yourdon/2550052790/in/photostream/ByEd Yourdon CC BY-SA 2.0
  • One thing adds confusion when we talk about choices is traditional wisdom. It tells us that
  • More is better, right? Choice is a good thing. More likely to find something that matches our preferences, right?Think about shopping, we have all kind of choices be it..
  • Buying here…http://www.flickr.com/photos/galaygobi/114527025/sizes/o/By Daniel Ng CC BY 2.0
  • Or here..http://www.flickr.com/photos/vlastula/355358479/sizes/o/By nick wiesner underCC BY-ND 2.0
  • Or skipping the store and buying online
  • Traditional wisdom is …
  • Wrong. More choices are necessarily the answer. That is why we are here today.Our customers are relying on us to reduce the complexities of choice.http://www.flickr.com/photos/begnaud/243996426/By Dallas under CC BY 2.0
  • Today we’ll look at some psychology. What’s going on in there?When we better understand the psychology behind our customers’ decisions, the better we can help them and our company succeed online.http://www.flickr.com/photos/bike/3470182650/sizes/l/in/photostream/By Richard Masoner under CC BY-SA 2.0
  • We’ll look at examples of what marketers are doing to help customers overcome choice complexity and close more B2B business onlinehttp://www.flickr.com/photos/lazurite/3486691753/in/photostream/By Lazurite under CC BY-ND 2.0
  • And yes, you’ll have some homework. With these examples and principles we look at, I’m going to ask you questions that you’ll need to think about and ponder how they apply to your project, team, application, and challenges.And when inspiration hits…http://www.flickr.com/photos/wwworks/4274040778/in/photostream/By woodleywonderworks under CC BY 2.0
  • you need to write it down. Write it down so you can go back to your desk and …http://www.flickr.com/photos/7944769@N03/5492740280/in/photostream/By dotmatchbox under CC BY-SA 2.0
  • Do something. Make a change. Otherwise, everything we talk about today and in this conference will be for not.http://www.flickr.com/photos/joanet/2994421437/in/photostream/By Joan Campderrós-i-Canas under CC BY 2.0
  • Imagine you go to the supermarket and are walking down the aisle.As is usually the case, you spot a free sample table. On this table are ..http://www.flickr.com/photos/specialkrb/3049748311/in/photostream/By Karen Blumberg under CC BY-ND 2.0
  • 24 flavors of jamUnbeknownst to you, this is a classic experiment done by researchers from Columbia and Stanford (2000).They set out 24 flavors of jam. They counted and measured how many people stopped by for a taste. They gave everyone a coupon for purchase. Then they repeated the experiment with …http://www.columbia.edu/~ss957/articles/Choice_is_Demotivating.pdfhttp://www.flickr.com/photos/22280677@N07/2915653872/in/photostream/By Sean under CC BY-ND 2.0
  • A table with 6 flavors of jam. They again recorded and measured and handed out coupons.http://www.flickr.com/photos/ejchang/4744551212/in/photostream/By Eunice under CC BY-SA 2.0
  • 24 or 6? What do you think?
  • The table with 24 jams attracted more people. So that leads us to ask…http://www.flickr.com/photos/22280677@N07/2915653872/in/photostream/By Sean under CC BY-ND 2.0
  • Surprisingly the stand with 6 jars of jam.In fact, those that stopped by the table with 6 jars were 10 times more likely to purchase. It was too overwhelming for those that saw the 24 flavors to make a decision. Many walked away empty handed.http://www.flickr.com/photos/ejchang/4744551212/in/photostream/By Eunice under CC BY-SA 2.0
  • At my company at least we sell products like this…
  • Not..
  • Gourmet jam. You probably don’t sell jam either. However, we all have to deal with this:http://www.flickr.com/photos/ejchang/4744551212/in/photostream/By Eunice under CC BY-SA 2.0
  • Our customer is here. They want to buy from you here. But something is in the way: that is the complexity of choice. This causes customers to be http://www.flickr.com/photos/andryone/445139454/sizes/l/in/photostream/By Chris Ingrassia under CC BY 2.0
  • Confused. Why are they confused? They come in with preexisting assumptions…http://www.flickr.com/photos/acearchie/4369849179/in/photostream/By Archie Campbell under CC BY-ND 2.0
  • Choices can be made easily and quicklyhttp://www.flickr.com/photos/sevestjude/4382167569/in/photostream/By Nicholas Liby under CC BY-ND 2.0
  • We assume there is a “perfect choice” out there. Consumers are bombarded with marketing messages about the perfect car, shampoo, shoes, or companion via an online dating site.http://www.flickr.com/photos/mccheek/2450444942/in/photostream/By carole smith under CC BY 2.0
  • When we take the confusion, expectations and mix in some: Stress, Deadlines, History, Experience and you get increased complexityhttp://www.flickr.com/photos/spilt-milk/4431809607/sizes/l/in/photostream/By yoppy Under CC BY 2.0
  • Which leads to mental overload and the dreaded…http://www.flickr.com/photos/nicolasconnault/2974682811/in/photostream/By Nicolas Connault under CC BY-ND 2.0
  • I’m stuck and can’t decide what to do.
  • Customers are trying to balance the benefits of your product with the risks. And unfortunately, the risks often outweigh the perceived benefits and that leads to people…http://www.flickr.com/photos/archeon/2941655917/sizes/l/in/photostream/By Hans Splinter under CC BY-ND 2.0
  • Walking away. They will switch to brands that offer less choices or more simplistic options. Or worse those that stay…http://www.flickr.com/photos/scjn/5510388720/in/photostream/By Candie_N under CC BY 2.0
  • Customers who do stay and make a choice will simply pick something. They could pick you or the next guy just the same. It just happens they picked you. This is different from ….http://www.flickr.com/photos/rukakuusamo/4855735051/sizes/l/in/photostream/By Heather Sunderland under CC BY 2.0
  • A customer choosing you. Choosing is different from picking. Picking is temporary, fleeting. Choosing is a longer term investment and commitment.http://www.flickr.com/photos/andrewmorrell/328723497/sizes/o/in/photostream/By Andrew Morrell Under CC BY-ND 2.0
  • You need to be chosenNeed them to invest in youNeed them to associate with youYour business may be built on the back of customers standardizing on your products, investing in your services for the long term. This is a choice not a fleeting pick.
  • We need to help customers understand the choices we present, which means we need to …
  • Understand the tradeoff that people make when deciding or choosing
  • Some smart minds at the University of Toronto and…Source: Soman, Dilip. “Option Overload: How to Deal with Choice Complexity.” Rotman Magazine: Fall 2010: 43-47.http://www.rotman.utoronto.ca/dilip%20soman/http://www.flickr.com/photos/pdstahl/2696897203/in/photostream/By Patrick Stahl under CC BY-SA 2.0
  • Harvard help us understand two primary types of tradeoffs…Source: Soman, Dilip. “Option Overload: How to Deal with Choice Complexity.” Rotman Magazine: Fall 2010: 43-47.http://drfd.hbs.edu/fit/public/facultyInfo.do?facInfo=ovr&amp;facEmId=jgourville@hbs.eduhttp://www.flickr.com/photos/j_gresham/2525920805/in/photostream/By j.gresham Under CC BY 2.0
  • Alignable and non-alignable tradeoffs. When we talk about alignable tradeoffs, we think about…Source: Soman, Dilip. “Option Overload: How to Deal with Choice Complexity.” Rotman Magazine: Fall 2010: 43-47.http://www.flickr.com/photos/naotakem/178840616/sizes/l/in/photostream/By Naotake Murayama UnderCC BY 2.0http://www.flickr.com/photos/iainb/260342064/By End User under CC BY-ND 2.0
  • Different choices along a single dimension or direction. For example, if you are thirsty, do you want a small, medium or large drink? The single difference is size.Source: Soman, Dilip. “Option Overload: How to Deal with Choice Complexity.” Rotman Magazine: Fall 2010: 43-47.http://www.flickr.com/photos/libookperson/3304334400/sizes/l/in/photostream/By Elizabeth M Under CC BY 2.0
  • We sell two very similar products. They are identical expect one is faster than the other. Speed is the alignable tradeoff. Need something faster, the widget on the right is for you.Alignable tradeoffs are easy to make and don’t slow down the customer’s decision too much.Contrast alignable trade-offs with …
  • Non-alignable tradeoffs. These are all or nothing decisions. What do you want for dinner? Do you want mexican or italian? You can’t have both.These types of non-alignable tradeoffs lead to anxiety and “what if’s” of making the wrong choice. ….Source: “Option Overload: How to Deal with Choice Complexity”, Rotman Magazine, Fall 2010http://www.flickr.com/photos/mesohungry/4667578195/By Jason Lam under CC BY-SA 2.0http://www.flickr.com/photos/bhamsandwich/4485213354/sizes/z/in/photostream/By Dan UnderCC BY-ND 2.0
  • Think dinner is too benign? If you are new customer, try deciding between standardizing on the complex system on the left versus the complex system on the right. Tough decision because the tradeoffs are non necessarily alignable.You likely offer customers equally confusing and complex, non alignable tradeoffs
  • So now we know what is going on in there, we need to get to work so our customers don’t end up like this…http://www.flickr.com/photos/bike/3470182650/sizes/l/in/photostream/By Richard Masoner under CC BY-SA 2.0
  • No. We want our customers to be…http://www.flickr.com/photos/acearchie/4369849179/in/photostream/By Archie Campbell under CC BY-ND 2.0
  • Happy! So how do we do that?http://www.flickr.com/photos/iboy/5310519860/in/photostream/By Ernst Vikne under CC BY-SA 2.0
  • Let’s look at some solutions and methods we can use to help our customers overcome the complexity of choice.
  • First thing we can do is streamline choices.Source: Soman, Dilip. “Option Overload: How to Deal with Choice Complexity.” Rotman Magazine: Fall 2010: 43-47.http://www.flickr.com/photos/ehamiter/4607728796/sizes/l/in/photostream/By Eric Hamiter under CC BY-SA 2.0
  • Look at groupon. Who has used groupon? (raise hand). Your choice is simple. Do you want today’s offer or not? They have streamlined the choice to a single decision.
  • Let’s switch gears to ni.com. Back in the day we had a rather lengthy page of countless selections of accessories when it came time to choose a productThen along came…
  • A redesign which streamlined the choice of accessories by simplifying the display and presentation to a standard set of accessories and then offering an option to change them if you would like.The results have been impressive…
  • On somemodel pages where we applied this new layout, we saw a nearly 30% growth in both revenue and units through our ecommerce channel on those products
  • So homework time. How can you streamline choices for your customers? How can you simplify the choice the customer has to make? How can you push them in the right direction?
  • The next tool in our toolbox is helping customers understand their preferences and associated tradeoffs. When we look at choosing ..Source: Soman, Dilip. “Option Overload: How to Deal with Choice Complexity.” Rotman Magazine: Fall 2010: 43-47.http://www.flickr.com/photos/cjc4454/3229989135/in/photostream/By cjc4454 under CC BY-SA 2.0
  • Software on ni.com, we’ve found great success in helping customers understand the correlation between their preferences, in this case their SW requirements, and the types of products that will meet those needs. Here in the SW Help me Choose, by selecting preferences on the left, you can see how that affects product selection on the right.
  • This page converts 50% more people to cart and quote than the standard model page.
  • When we look to the future, we need only look around us. Pandora for example, intelligently plays music based on what you like, have listened to in the past, and your indicated preferences. It is pretty clear to see how your preferences impact your choice of music on pandora. Cause and effect.Why not add this intelligence to our marketing efforts online?
  • Amazon uses collaborative filtering to show you relevant recommendations based on what you’ve purchased, looked at, and what others with similar characteristics did as well. Why not build in these types of feedback loops into our online marketing and sales engine?
  • Your homework here: how can you help customers better understand their preferences and the associated tradeoffs? What cause and effect pattern can you use to help them? How can you sprinkle in some automated intelligence to make this an even more powerful tool?
  • Our next tool is to organize and eliminate options. Source: Soman, Dilip. “Option Overload: How to Deal with Choice Complexity.” Rotman Magazine: Fall 2010: 43-47.http://www.flickr.com/photos/melissadion/3395829919/sizes/o/in/photostream/By Melissa &amp; Bryan Ripka Under CC BY-ND 2.0
  • Dell.com organizes its types of customers and eliminates irrelevant options. So business customers don’t get bogged down with new TVs and consumers don’t get tripped up with powerful rack-mounted servers.
  • Likewise, we’ve helped organize and eliminate options with a new experience we recently rolled out to help customers select some of our hardware..
  • Once the customer answers a simple, relevant question, we show them…
  • Choices based on what they care about. They aren’t distracted by irrelevant choices.
  • By organizing our offerings and eliminating options, we’ve doubled the number of people that find a product through this experience
  • How can you group your customers into similar care-abouts? What can you not show them until they indicate a preference or customer type?
  • Who has eaten at Freebirds? (raise hand) They use attribute based decisions when you buy your burrito. First they ask: what tortilla would you like? Then: what type of cheese, then what type of meat. Beans? One by one they go through each ingredient or attribute until you’ve constructed…Source: Soman, Dilip. “Option Overload: How to Deal with Choice Complexity.” Rotman Magazine: Fall 2010: 43-47.http://www.flickr.com/photos/cogdog/2320237656/sizes/l/in/photostream/By Alan Levine Under CC BY 2.0
  • the perfect burrito. Yum. Likewise we can help focus customers on specific attributes or characteristics of a product to help them decide what to purchase.http://www.flickr.com/photos/pyxopotamus/3516335613/sizes/o/in/photostream/By Chelsea Oakes UnderCC BY-ND 2.0
  • We have a suite of Advisors that help customers configure the complicated systems we sell.
  • We use attribute based decisions to help simplify the process. Once the customer picks a measurement type, like voltage, current, or temperature, the advisor …
  • Proceeds to funnel them down to more specific attributes. In the voltage case, do you want “voltage input” or “voltage output?” If I pick output, it will ask for more…
  • Specific attributes and show me the matching products.By focusing on attribute based decisions, both freebirds and the experience in the advisors focuses the customer on one decision at a time and then brings those all together to present a solution.
  • Our next tool is to use recommendations or defaults. We do this everyday like outsourcing choices to a concierge at a hotel or taking the recommendation from the waiter. Online we outsource our choices by sticking with the default choice that is provided…Source: Soman, Dilip. “Option Overload: How to Deal with Choice Complexity.” Rotman Magazine: Fall 2010: 43-47.http://www.flickr.com/photos/alan-light/3903594127/in/photostream/By Alan Light under CC BY 2.0
  • Has anyone used kiva? It is site where you can loan money to help the working poor around the world. You loan money to Blanca, for example, to buy products to sell in her store. She repays the money, and you lend it to someone else.Kiva uses the principle of outsourcing choice multiple times. First they default a recommended loan amount: $25. Then when you checkout, they again default a donation amount to their non-profit: $3.75.Kiva eliminates complexity by defaulting the amount so it is one less thing you have to decide on your way to completing your loan.
  • Likewise we used the power of defaults in our online product advisors.When a customer selects a module, we by default include its required accessories.We found that the vast majority of people stick with the defaults
  • Make sure you put a lot of thought into your defaults. Since most people will stick with that option, consider the downstream impact of a default on customer satisfaction, sales, manufacturing, support, etc…
  • Our next tool is that of social proof. It is human nature to see what others are doing and follow suit.http://www.flickr.com/photos/jdn/2201362379/sizes/o/in/photostream/By Jack Newton Under CC BY-SA 2.0
  • Because usually when a group of people are headed one direction, it is ….http://www.flickr.com/photos/soschilds/792216896/in/photostream/By www.viajar24h.com under CC BY 2.0
  • For a reason!http://www.flickr.com/photos/soschilds/791383705/in/photostream/By www.viajar24h.com under CC BY 2.0
  • Social proof becomes very powerful when it is personalized to the customer. Think of this as “Localized social proof.” The closer a recommendation is to your in your social or work circles, the more weight that recommendation carries.For example, think about how you react to a recommendation from …
  • Anonymous review on amazon.com versus
  • A recommendation from a coworkerhttp://www.flickr.com/photos/mayoff/15525361/in/photostream/By Mayoff under CC BY 2.0
  • Versus one from your mom.http://www.flickr.com/photos/mtm/4974869879/sizes/l/in/photostream/By Mike Miller UnderCC BY-SA 2.0
  • Now imagine you are an engineer from Acme, Inc and are browsing our website…http://www.flickr.com/photos/ell-r-brown/4226491772/in/photostream/By Elliott Brown used under CC BY 2.0
  • All of a sudden you start seeing references to your company. You are intrigued and click the tab with your company’s name. There you see someone you know recommending our products. The prospective customer starts to trust you because they trust someone that trusts you.
  • Imagine you live in Texas and think that our company is a huge global monster. When you start browsing our site you start to say “hey, they are in Texas. I’m in Texas.”
  • When the customer trusts someone that trusts you, you gain credibility in their eyes and they are willing to give you the benefit of the doubt even if you have complex products or choices.
  • Now that you’ve convinced them to buy from you, it is time to take the order…http://www.flickr.com/photos/scjn/3729814397/in/photostream/By Candie_N under CC BY 2.0
  • So how do you do that?
  • The key principle here is that you need to match the customer’s buying/purchasing process…http://www.flickr.com/photos/breakdown/196814053/in/photostream/By DeWitt Clinton under CC BY 2.0
  • http://www.flickr.com/photos/scjn/5510388720/in/photostream/By Candie_N under CC BY 2.0
  • First let’s talk about those that are ready to buy and can buy right now.http://www.flickr.com/photos/jmrosenfeld/2903513401/in/photostream/By J Rosenfeld Under CC BY 2.0
  • Step one: have an online store. Too many B2B companies don’t offer the ability to purchase on their website even though they have products that new and existing customers could buy online.http://www.flickr.com/photos/lofink/4344960203/By David Lofink under CC BY 2.0
  • Make sure you take the customer’s preferred type of credit card. Let customers use the card like they want to. For example…http://www.flickr.com/photos/shawnzlea/527857787/in/photostream/By Shawn Rossi under CC BY 2.0
  • Help customers keep under credit/approval limits by allowing them to split the charge over multiple cards. This is an example from Apple’s website that does just that.Consider that many of your customers have a cap on how much they can spend. This may vary from $2K to 5K$3 – 5K government/academic
  • Consider that domestic solutions might not always works internationally… Do you conduct business overseas? Perhaps you’ll need to work with a local bank to accept local bank cards beyond just the global Visa/Mastercard.http://www.flickr.com/photos/37476902@N03/3455285818/in/photostream/By Peteris Under CC BY 2.0
  • Bank and Wire transfers are an accepted form of payment in many countries. Do your customers want this payment option?
  • Purchase orders are a great way for customers to buy without actually having to pay right now.Consider offering terms of credit to customers and make it easy to start the process.On our site, for example, we offer customers the option to “purchase with established credit terms”
  • Yes, people still use the fax machine. Your site should be offer a printer friendly version of an order with enough information that your sales team can tell where it came from and how to process it.We’ve seen customers use this and attach a purchase order.
  • Do you have tax exempt customers? Don’t scare them away by forcing tax down their throats…
  • Do you accept orders via email? The purchasing processes at many large companies just need an email to send final output to. This is also a good fall back for when you have downtime or errors – give the customers somewhere to finish the order.
  • What payment options do your customers want that you don’t currently accept? Fix this gap and you’ll see more sales online.
  • Red tape is the bane of many B2B transactions. You need to help customers wade through this mess and make the purchase.http://www.flickr.com/photos/peretzpup/5248218766/in/photostream/By Eugene Peretz Under CC BY-SA 2.0
  • One way to do this is by offering quotes through your website. Go beyond an email request for quote. Let customers get an instant quote that shows pricing and a quote number. Customers can then take this quote and use it as part of their internal justification to purchase from you…
  • Web assisted proposal generation is a way to help your customers convince their team, convince the boss, and get approvals.Customers are already printing out the pages from your website and creating their own proposals. Save them time and effort and serve that information up to them in a format they can add their &quot;why&quot; so buyer/purchasing agent doesn&apos;t chop it outMany companies and government organizations require a binder of 3 bids before a purchase.
  • Part of the pre-sales process is making sure your products match the customer’s needs. This is often done by discussing the purchase with colleagues. Offer your customers tools to help them electronically share products of interest with their colleagues.This is a screenshot of our Parts List application that lets customers build a “wishlist” and then collaborate around it with others. It can then easily be turned into a quote or order all through the website.
  • Academic, GSA, Contract
  • add by part number: http://www.officedepot.com/csl/quickAddBySku.do
  • terms and conditions of customer: do they match yours? Cause friction?http://www.flickr.com/photos/sashajelan/3380056633/in/photostream/By s_jelan under CC BY-ND 2.0
  • ordering toolsreorder, replacement partsHow can you help them quickly reorder something they’ve bought from you before?http://www.flickr.com/photos/bontempscharly/3232518815/By Charles Barilleaux underCC BY 2.0
  • If all else fails, don’t lose the sale… take it offlinehttp://www.flickr.com/photos/justinstravels/4955154459/By Justin Brockie Under CC BY 2.0
  • always show phone numberhttp://www.zappos.com/product/7733231/color/4478You can use vanity phone numbers to track what pages or sites they come from so you can “credit” the web.
  • Have Chathttp://www.oracle.com/us/products/database/enterprise-edition/index.html
  • Make contact your primary CTAhttp://www.alibaba.com/product-gs/444954435/Glass_door_filing_cabinet.htm
  • We’ve reviewed what is going on in the mind of your customers… And thathttp://www.flickr.com/photos/bike/3470182650/sizes/l/in/photostream/By Richard Masoner under CC BY-SA 2.0
  • Conventional wisdom is often wrong. More choices aren’t always better and yes, B2B can close online.http://www.flickr.com/photos/begnaud/243996426/By Dallas under CC BY 2.0
  • Change and success at your company depends on you. You need to ponder the questions we’ve asked today and apply the lessons learned to your daily life. You need to create the …http://www.flickr.com/photos/tracy_olson/61056391/By Tracy O Under CC BY-SA 2.0
  • Constructing the idea experience, messages, flow, wording, and selection to help your customer make it to the point of sale. Give customers good choices that enable them to make a good choice and gives them the confidence to make that choice. You’ve got several tools now in your tool belt. Think about how you can …http://www.flickr.com/photos/tanelteemusk/2914479607/in/photostream/by Tanel Teemusk under CC BY-SA 2.0
  • Streamline choices.http://www.flickr.com/photos/ehamiter/4607728796/sizes/l/in/photostream/By Eric Hamiter under CC BY-SA 2.0
  • Help customers understand their preferences and associated tradeoffs.Source: Soman, Dilip. “Option Overload: How to Deal with Choice Complexity.” Rotman Magazine: Fall 2010: 43-47.http://www.flickr.com/photos/cjc4454/3229989135/in/photostream/By cjc4454 under CC BY-SA 2.0
  • organize and eliminate optionshttp://www.flickr.com/photos/melissadion/3395829919/sizes/o/in/photostream/By Melissa &amp; Bryan Ripka Under CC BY-ND 2.0
  • Use attribute based decisions so customers can make little, easy decision so they arrive at the desired end resulthttp://www.flickr.com/photos/cogdog/2320237656/sizes/l/in/photostream/By Alan Levine Under CC BY 2.0
  • How can you effectively default selections so the customer can confidently outsource their choice to you?http://www.flickr.com/photos/alan-light/3903594127/in/photostream/By Alan Light under CC BY 2.0
  • Use social proof to reassure customers and help them be confident they are in the right place and the right solution is before them.http://www.flickr.com/photos/jdn/2201362379/sizes/o/in/photostream/By Jack Newton Under CC BY-SA 2.0
  • When it is time to buy, you need to match the customer’s purchase process(es)http://www.flickr.com/photos/breakdown/196814053/in/photostream/By DeWitt Clinton under CC BY 2.0
  • Enable the online sale through credit cards, purchase orders, email, or other meanshttp://www.flickr.com/photos/jmrosenfeld/2903513401/in/photostream/By J Rosenfeld Under CC BY 2.0
  • Help customers cut through their red tape and close the sale. http://www.flickr.com/photos/peretzpup/5248218766/in/photostream/By Eugene Peretz Under CC BY-SA 2.0
  • Give customers and escape hatch… offline.http://www.flickr.com/photos/justinstravels/4955154459/By Justin Brockie Under CC BY 2.0
  • Take these tools and do something. Make a change. So your customers stop beinghttp://www.flickr.com/photos/joanet/2994421437/in/photostream/By Joan Campderrós-i-Canas under CC BY 2.0
  • Confused and start being http://www.flickr.com/photos/acearchie/4369849179/in/photostream/By Archie Campbell under CC BY-ND 2.0
  • Happy! Like this. And enabled to buy from youhttp://www.flickr.com/photos/iboy/5310519860/in/photostream/By Ernst Vikne under CC BY-SA 2.0
  • You’ve got your homework. Time to get to work.http://www.flickr.com/photos/wwworks/4274040778/in/photostream/By woodleywonderworks under CC BY 2.0
  • Put the principles and examples we’ve discussed to work and you will grow your B2B ecommerce revenue. You can determine this percentage.http://www.flickr.com/photos/tracy_olson/61056391/By Tracy O Under CC BY-SA 2.0
  • Good luck.http://www.flickr.com/photos/nateone/3768979925/in/photostream/By Nate Grigg under CC BY 2.0