Monogo E-commerce News - Why Not All B2B Buyers Want an Amazon Shopping Experience, #31
After the Customer Experience news, this week we focus on heavily business-related issues. Together, let's look at things such as business model planning, what the differences are between B2B and B2C e-commerce and what can be learned from the failure of the big US business Bed Bath & Beyond. Let's check the news out!
After the Customer Experience news, this week we focus on heavily business-related issues. Together, let's look at things such as business model planning, what the differences are between B2B and B2C e-commerce and what can be learned from the failure of the big US business Bed Bath & Beyond. Let's check the news out!
1. Why Not All B2B Buyers Want an Amazon Shopping Experience
B2B and B2C e-commerce have so many similarities as well as differences that need to be taken into account when building an online sales strategy. You can identify these differences at the start of a project, but they should be checked with the client. Basically, you could say that in the basics of e-commerce, you should set yourself up for constant communication with the customer and researching their expectations. Through surveys, conversations, and visits from salespeople, you can gather valuable information about the perception of the sales platform and customer expectations. Making the improvements, that you ask buyers to make, will certainly result in increased brand loyalty and better conversions. What's more, don't just limit yourself to satisfaction surveys and collecting feedback. It is also important to keep up to date with market research. The conclusions of these surveys, will certainly be a great inspiration for new improvements that have not yet appeared in the feedback, but reflect trends.
2. Business Model Canvas Cheat Sheet: A Quick Guide to Remember
What value does your business bring to your customers? The answer to this question, in the form of a structured, methodically prepared matrix, preceded by research, will bring better predictability.
With the matrix, you will be able to establish a set of processes, for the continuous improvement of services and products that customers buy on the e-commerce platform. Although the application of the presented approach does not have to be limited to e-commerce only. It can also be applied to a traditional business. In the linked article you will find a ready matrix for building a Business Model in your company.
3. Lessons From Bed Bath & Beyond
We do not need online sales. Our position is too strong in the traditional market. Ignoring e-commerce and the power of the digital world, and accelerated by pandemonium, has led to a very difficult situation at Bed Bath & Beyond. In the current reality, to avoid this scenario, the digital world cannot be ignored. Of course, every owner makes decisions for his or her business. And he is responsible for those decisions. However, the data speaks for itself. E-commerce is growing worldwide year on year. More and more people have access to the internet and more and more people are choosing to shop online. We used to measure how many people buy through e-commerce. Now we are getting to metrics that say how many people buy at least once a week. This shows that consumers' shopping habits are evolving towards e-commerce. Let's act to meet customer needs!
Learn more: Lessons From Bed Bath & Beyond
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