Rahi Jain’s Post

We are over-relying on conversion rates in ecommerce. It’s time to take a step back. The traditional ecommerce site tends to treat every customer as if they’re ready to buy. This assumption is not only false, but leads to missed opportunities. By over-indexing on conversion rates at all times, we overlook the customer’s actual journey and their intentions. Intent-based segmentation offers a more sophisticated approach—allowing us to personalise interventions against what customers need. When we segment customers based on their intent, we can engage them more meaningfully—whether that means nurturing their interest, maintaining their momentum or finally converting that interest into a purchase. Segmenting this way means we can also take a smarter look at conversion rate. Isolating the minority who have high intent to purchase from the majority who aren't ready to buy. The result? Better prioritisation, more conversions and happier customers. ✖ Interested in learning more? Read our framework for more on how you can apply intent-based segmentation. Link down below.

Manufacturers are stepping up their game in the digital world by prioritizing the launch of customer portals and adding personalization to their e-commerce strategy. The recent survey, The Voice of Digital Leaders in Manufacturing 2024 by digital commerce technology and services firm, Valtech and Copperberg, revealed that 66% of manufacturers plan to invest in customer portals this year, a significant increase from last year's 50%. This shift highlights the growing importance of providing a seamless and personalized online experience for B2B buyers. It's no surprise that B2B buyers are demanding more from their e-commerce platforms. Only 36% of buyers rated their B2B ecommerce site experience as excellent, indicating there is still much room for improvement. As the digital-first customer base continues to evolve, manufacturers must adapt to meet the high expectations of their buyers. Research shows that B2B buyers are doing their homework before making online purchases. Once they find a platform that meets their needs, they are more likely to place frequent orders online. This trend underscores the importance of investing in customer portals and personalization to create a user-friendly and efficient ecommerce experience. Manufacturers who prioritize customer portals and personalization are poised to gain a competitive edge in the digital marketplace. By focusing on enhancing the online buying experience for B2B customers, manufacturers can drive sales, increase customer loyalty, and stay ahead of the curve in the ever-evolving ecommerce landscape. Learn more at Friends of Commerce. https://hubs.la/Q02qFP040 #CustomerPortals #Personalization #EcommerceStrategy #DigitalTransformation #B2B

Ever wondered why customers leave your site without making a purchase? Lack of personalization could be the culprit.   Did you know that 71% of consumers feel frustrated when their shopping experience isn't personalized? And, 77% of consumers have chosen, recommended, or paid more for a brand that provides a personalized service or experience (Forrester). When customers feel understood by your brand, they’re more likely to come back – choosing you over competitors. It’s all about creating a shopping experience they'll love. With effective personalization, you can recommend products that match your customers' interests, past purchases, location, language, and more!   Personalization doesn’t just boost conversions; it builds customer loyalty by driving repeat business. Brands can cut new customer acquisition costs by up to 50% (McKinsey & Company). Even in B2B eCommerce, customers now expect a B2C-like personalization experience. As per a recent World Metrics report, B2B organizations see an average increase of 50% in sales when implementing personalization strategies. Do you want to use personalization in your eCommerce platform? Read this detailed guide on how manufacturers can sell directly to customers using an eCommerce platform. The link is present in the first comment. #ecommerceplatform #personalization #B2BeCommerce #ewizcommerce

The ultimate guide to maximizing your ecommerce contribution margin in 6 steps (1/6) 6 steps introduced in https://lnkd.in/g2mawwVZ Today, will look at  ---> More purchases by repeat customers 3 broad strategies to improve repeat purchases - 1. Getting one-time buyers to repeat buyer 2. Retaining repeat / VIPs 3. Re-engaging lapsed buyers a.) One time To Repeat -> Send value-driven communication after purchase. Getting the value from the first purchase. Fulfill the promise of the first purchase -> Suggest replenishment / cross-cell at regular intervals, not just 30 days. Plan the complete customer journey after 180 days of purchase. -> Continuously ask for feedback. Feedback on the product, feedback on customer experience, and feedback on the brand. -> Re-engage or re-market on multiple touch points including email, SMS, and direct mail. -> Collect valuable zero-party data for customer and product research. Why did they buy from you? Who recommended them? What's their goal of purchase? b.) Retaining repeat / VIPs -> Launch subscription/membership program for repeat customers. It's working better than a loyalty program. Use a loyalty program for large collections. -> Build a community around lifestyle. It's not just about your product or brand. It's more about the lifestyle. Learn from brands like Lululemon. -> Generate word-of-mouth marketing from your loyal customers. Be it via an ambassador program, referral program, or simply getting them to share on social media. c.) Re-engage lapsed buyers -> Target lapsed buyers at regular intervals. Don't give up on them. Include offers, new arrivals, or deals for lapsed buyers. -> Re-target over paid channels to engage them again. Try omni channel approach to engage with them. -> Get to the actual reason they stopped buying. Is it competition, product or their requirements have changed? Mostly it's product or competition :) Increasing your retention rate will have a direct impact on your CM Higher margins, more profits PS. Join me this Friday to learn how to calculate and increase your store's contribution margin. The webinar link is in the comment #ecommerce #dtc I am Rahi Jain I use my PCC (Product, Customer, Communication) framework to maximize customer lifetime value for ecommerce brands by 10-30% in 30 days.

I never used to complain about a bad supermarket product. But now I email the supplier. Because I want them to know they have a problem they need to fix. Yes, I have become one of those people. I’ve even shocked myself. (And let’s be fair, the free product replacement goes a long way). Once, I found salt in a cereal brand. And just last week, there was no cacao in the brownie mix, and therefore it didn’t cook properly. If I’m experiencing this, how many other customers are having the same problem? Here’s the thing: Chances are, your customers may not be telling you about their less-than-ideal experience. They aren’t sending emails or giving feedback—they’re simply shopping elsewhere. They won’t wait for you to fix the issue; they’ll just move on to a brand that gets it right the first time. Now, think about this in the context of B2B ecommerce. In the digital world your customers and buyers now have different expectations. They expect a smooth, intuitive online experience. If your website is slow, hard to navigate, or doesn’t offer the right features, they may not bother complaining—they’ll just find another provider that does it well. Or if you don’t offer an online buying portal at all they might never find you. Delivering a great customer experience online is non-negotiable if you want to set yourself apart from your competitors. And we are actively having clients coming to us knowing they are losing out on business because they don’t have one. So, the real question is either: Is your ecommerce platform easy for your customers to use? Or Do you currently offer an online buying experience at all? It might be time to take a closer look… #ecommerce #digitalmarketing #technology

New merchants enter the eCommerce ecosystem daily, and ensuring your growth strategy is nailed down is 🔑. A strategy’s success relies on the seamless collaboration of its parts, requiring regular check-ins and adjustments to achieve long-term growth. We recommend starting with ⬇️ 🔴 Assembling Foundational Elements 🔴 Building Customer Engagement 🔴 Making Decision-Making Data-Driven Explore the other 7 steps to success in our new blog! Link in the comments below.

A recent survey by Digital Commerce 360 and Forrester reveals that B2B buyers are increasingly satisfied with their online purchasing experiences. 85% of buyers rated their experience as excellent or good, with 36% giving an excellent grade. Key Findings: 🔸 Over 50% of B2B buyers make digital purchases daily 🔸 57% prefer manufacturer's ecommerce sites, followed by consumer sites (45%) and Amazon Business (43%) 🔸 Faster process (48%) and more complete product information (25%) are top reasons for shifting purchases online While there's still room for improvement, B2B companies (manufacturers, distributors, wholesalers) have made significant strides in meeting the expectations of digital-first customers. As buyers do more research online and place more frequent orders, providing a seamless user experience with robust product information and efficient ordering tools will be crucial for success. Implications for B2B Companies: ✅ Investing in a user-friendly ecommerce platform with comprehensive product information can boost your conversion rates by 35%. According to a study by the Baymard Institute, streamlined checkout processes and detailed product descriptions significantly reduce cart abandonment, leading to more sales for your business. ✅ According to Moz, 93% of online shopping journeys begin with a search engine. Optimizing your website for search engines can put your products in front of millions of potential buyers actively looking for what you offer. ✅ Streamlining your ordering process to make it faster and more convenient for buyers is key. B2B shoppers abandon carts at an alarming rate – up to 69% (Baymard Institute)! By improving your ordering process, you can significantly reduce cart abandonment and boost sales. A faster, more convenient checkout experience keeps customers engaged and happy, leading to more completed purchases. ✅ Boost customer satisfaction by offering personalized experiences and tailored recommendations on your B2B ecommerce site. Understanding and addressing buyers' specific needs through relevant product suggestions based on their past purchases, industry trends, and browsing behavior can transform them into loyal customers. ✅ Stay ahead of the competition by continuously gathering customer feedback and iterating on your eCommerce strategy. This data-driven approach enables you to adapt to evolving customer needs, ensuring your online store remains easy-to-use and relevant. By focusing on these areas, B2B companies can capitalize on the growing trend of digital purchasing and build long-lasting relationships with their buyers. More questions? Visit the Channel Software website for more information. #B2Becommerce #ecommerce #manufacturers #distribution #b2bbuyers

Wanna know the top 5 strategies of successful ecommerce brands for upselling and cross-selling their products? I analyzed the strategies of several ecomm businesses over the years and they all shared these top 5 best practices: 1️⃣ They personalize the shopping experience Each customer is unique, and these brands understand that. They use data to offer personalized product recommendations, creating a more engaging shopping experience. 2️⃣ They offer relevant add-ons Upselling and cross-selling only work when the additional products are relevant. They ensure that the suggested items complement the original purchase, increasing the chances of an additional sale. 3️⃣ They use a tiered pricing strategy By offering different versions of the same product at varying price points, they give customers the option to upgrade their purchase, effectively upselling without being pushy. 4️⃣ They leverage customer reviews Positive reviews can influence a customer's buying decision. They highlight reviews of suggested products, making them more appealing to potential buyers 5️⃣ They provide excellent customer service Good service can lead to more sales. They ensure customers are satisfied, answering questions and resolving issues promptly, which often leads to additional purchases. In summary: They put their customers front and centre. And most importantly: They've realized that successful upselling and cross-selling is not just about increasing sales, but about enhancing the customer's shopping experience. How do you maintain exceptional upselling and cross-selling standards during high-demand periods? Share your top strategies or challenges in the comments below 👇 #ecommerce #onlinestore #digitalmarketing

Digital Commerce 360's 2024 Ecommerce in Manufacturing and Distribution Report affirmed much of what we already know: creating better customer experiences, providing greater value, driving deeper loyalty is what brands are focused on (and what customers demand). Now, ramping up those digital growth strategies and delivering on the e-commerce front is where all the attention is. #ecommerce #digitalcommerce #b2b #b2bbuyers

🌟 Intrigued by the changing landscape of eCommerce business models in 2023? Dive deep into the intricacies of B2B, B2C, and more in this insightful article! 🛒 Key Takeaways: - The projected impact of eCommerce on global retail sales. - The importance of choosing the right eCommerce business model for success. - An exploration of six major eCommerce classifications, from B2C to B2B2C. 🚀 Stay ahead in the digital realm by understanding the diverse eCommerce strategies shaping modern business landscapes. Ready to enhance your eCommerce game? ✨ https://lnkd.in/erMfXY2p