eCommerce Guides
Magento B2B and B2C

What to Pick: Is Magento different for B2B and B2C?

Despite their technical and theoretical differences, B2B businesses, especially in e-commerce, tend to get affected by B2C strategies, as online retailers work harder towards better user experiences, setting benchmarks of B2B enterprises to follow and align themselves to the changing buyer demographics and behaviors. B2B e-commerce is more about a strategic opportunity for enterprises while B2C is more objective-oriented.

For enterprises to meet their user expectations, they need to understand and assess the space they want to be in and design their ecommerce store accordingly.

B2B vs. B2C e-commerce

B2B e-commerce

B2C e-commerce

Fewer but large-sized clients.

 

A broad customer base of all sizes.
Highly customized sales or post-sales process Standard operational and sales procedures across all customers
Higher order value. Average order value is generally lower than B2B
Flexible payment options depending on buyer. Simplified payment process with standardized tools.
Big order values call for more information, details, before finalizing a purchase. Products come with fewer attributes and offer basic, fixed information to all customers.
Longer lead to conversion time. Most retail products have a shorter conversion time.
Involves personalized pricing and negotiations, subject to quotations and contracts Except for promotions, discounts, or special offers, prices are fixed and standard for all customers.
Purchases are based on business and functional needs. Purchases are based on personal preferences or emotion-driven needs.
Have long-term relationships with clients for reordering opportunities. Clients have multiple choices and most purchases are one-time from the same source.
More emphasis on brand value, trust, and relationship with clients. More strategic marketing and analytics-driven.

E-commerce Development Company for B2B & B2C businesses

Whether you are catering to enterprises or consumers, you need to have a state-of-the-art e-commerce solution for your business. Thankfully e-commerce development platforms like Magento do not differentiate in B2B and B2C e-commerce. Magento offers the same instance to run both B2B and B2C storefronts. With Magento’s smart solutions you can now have mobile-first store designs and branding, without the hassle of managing multiple techniques. Seek the expertise of a Magento development company who can help you establish your e-commerce store for B2B, B2C, or both on the same platform.

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Ecommerce frauds

E-commerce Frauds: Risks, measures, and online implications

Online fraud is one of the biggest risk faced by e-commerce enterprises with global retail frauds rising to 30% by 2017. E-commerce fraud typically refers to any illegal or false transactions that take place across online stores. Hackers usually source card information of random users and use the data to make fraudulent transactions or share the data with other hackers

Assessing risks and measures of losses

As an online retailer, here are few ways to assess if there is a fraudulent transaction has taken/is taking place on your web store.

  • The order value and size is bigger than your store average
  • There is a request for fast shipping.
  • The delivery address is a little unusual.
  • The shipping and the billing addresses are not the same.
  • There are several cards used on the IP address
  • The user has multiple shipping addresses.
  • There are large quantities of the same product or multiple transactions in a short span of time.

The total cost of fraud can be measured as Direct Losses to fraud + Lost sales + Cost of manual review + Cost of technology (tools used to detect and solve).

Implications of frauds

No matter what causes the fraud, the implications are usually borne by the retailer.

  • Most frauds end up in a ‘chargeback’ to the retailer. Since the hacked card details might belong to a customer, the retailer must return the same amount to the cardholder once a fraudulent transaction takes place.
  • Chargebacks usually come with processing fees, transaction fees, legal fees, or currency conversions, if any, surmounting to a huge sum for the retailer. Along with chargebacks and refunds, retailers also need to measure the overall impact of frauds on their store.
  • Sometimes, if there are too many fraudulent transactions occur, leading to a large amount of chargebacks, the retailer is usually considered to be a high-risk merchant.
  • Furthermore, the product/s fraudulently sold is a product lost, since there is no ‘return’ of the physical product.

To prevent such scenarios from occurring on your store, always have clear shipping, refund, and return policies and address any unusual activity right when they occur. For smarter store management, resort to a trusted and reliable e-commerce development company like Magento and enjoy a safer retail business.

The 7 unspoken laws of ecommerce success

The landscape of ecommerce in India is growing leaps and bounds with every retailer vying for their unique space in the industry. While online marketplaces are getting their fair share of success, ecommerce a lot of potential for new businesses. Unlike marketplaces, retailers have a lot more freedom to integrate innovative ways of boosting their business and join the bandwagon of rising ecommerce trends. Besides the mainstream technical knowledge and market insights, there a few tips that can help retailers and marketers to succeed in the ecommerce space.

Treat your ecommerce business as a thriving offline business
Except for the tangibility of your store, there’s not much difference between the efforts and time that you need to invest in a brick-n-mortar store and your ecommerce business.

Find the right software for your business
While it is important to make your ecommerce website really stand out, you need the most appropriate platform to build it on. Look at software that supports your creative idea and is sustainable.

Be where your customers are
The old trick of the trade calls for tapping right into the needs of your audience and fulfilling it. To do the same you need to be visible in places where your customers are.

Build Buyer Trust
Empower your customers through personalized communication and allow them to share their experiences with your product/service through reviews, feedback featured blogs etc. This not only builds trust with them but also makes them your brand ambassadors.

Keep the checkout process easy
Majority of conversions drop at the checkout point. Integrating a popular payment method and minimizing the page loading time can help reduce friction at the point of sale.

Offer Excellent Online Support
Think beyond calls and emails and consider live chat support on your site, across the user journey to enhance your customer support strategy.

Partner with other brands
Even if they are small local brands, partnering with complementary businesses add value to your brand and enhances your reputation among your audience.
There is no ideal model for a successful ecommerce business. With innovative business ideas, trial and error, and steady growth, your business can see the future of ecommerce, provided you are ready to take the leap of faith.

Why your site needs an eCommerce audit

Why your site needs an eCommerce audit?

If there’s one common goal for all e-commerce sites, its conversions. With the online marketplace dominated by retail giants, it becomes essential for e-commerce sites to stand out among the clutter and get their share of the pie. Hence an e-commerce audit, to help you understand where you stand among the crowd. It not only helps you boost your organic traffic and drive quality visitors but also spike up your conversion rate.

Reasons for considering an e-commerce audit:

Stay ahead on Search Engine Results Page (SERP)

Once you run a review of your content marketing strategy, you will know where you need to improve upon- whether it’s the content or the SEO strategy that needs revising. And if you are striving for that first page of search results, then your site needs to be well-optimized to start with.

Better On-page SEO

An audit of your e-commerce site will relook at the Meta Tags, keyword frequency, HTML headers etc. to see if your target keywords are at the right places on your site. This will increase your searchability to your users and search engines.

Check for mobile optimization

Needless to say, almost every user today uses their mobile phones for shopping. And that is why your e-commerce site needs to be user-friendly or optimized for a better experience of your customers. An audit can help you with ‘touchscreen readiness’, ‘mobile viewport’, UI/UX feasibility etc. so your audience gets the best experience on your website.

Enhanced site performance

This is probably one of the most important deal-breakers for e-commerce sites. Sites are evolving in their designs and integrating the best in class images, layouts, etc. But if these enhancements create a handicap for your users, by slowing it down, then you can lose as much up to 40% of your site visitors. User experience is essential for e-commerce success and site speed and its performance play make for an important element of it. When you run an audit, it can tell you which parts or pages lag in speed. It can also give you ways to elevate your site performance through techniques like compression, minification, image optimization and caching.

From content upgrade, keyword check, to restructuring product placement, and site analysis, an e-commerce audit is the key to a successful online retail business.

5 Reasons you should hire an expert to enhance your user

5 Reasons you should hire an expert to enhance your user’s shopping experience

The millennial shopper is always on the lookout for the best experience irrespective of what they shop for. That is why marketers and brand owners need to enhance the user experience and the customer journey while they browse through your site. And all this requires an expert, who can use his/her understanding and expertise to take your users’ shopping experience to a whole new level.

Here are our top 5 reasons to hire a user experience expert-

Help understand the human element

The best sales happen when you are in sync with your customer’s buying behavior. For that, you need to pay more attention to the user psychology. In other words, knowing what works for them, what they like, what improvements they are seeking, etc. This makes for a scientific study using consumer insights which can be best conducted by an expert qualified for the same.

Better customer relationship management (CRM)

User experience and CRM are not mutually exclusive. A customer complaint is usually seen from different perspectives, depending on where the fault was, which can lead to multiple inferences. An expert in such a case, can pinpoint the problems and help in problem-solving of consumer concerns. By assessing and analyzing their feedback, they can help in improvement of a product or the seller service, thus enhancing customer relations. CRM is one of the most important aspects that helps a business grow. And using expert knowledge to resolve their issues can ensure long-term relations with your users.

Contributing to Innovation

With a more scientific approach to consumer behavior, user experience experts can provide better insights into R&D and assess if a new concept or a strategy will work or not. And that too without exhaustive experimentation.

Keeping up with market changes

People change and so their habits. Surveys and focus groups stick to demographics and are not enough to assess the psychological reasoning behind such changes. Experts in user experience go beyond the theory and apply a deeper understanding of human nature which helps in better brand outreach.

Better marketability forecasting

Before a product is launched in the market, user experience experts can analyze if it will work with the brand users or not, thus providing the right marketability forecasting. By availing such expert knowledge prior to launches, brands can save the time and money on trials and errors

Make your eCommerce website secure – Change from HTTP to HTTPS

Google Chrome is the world’s most popular browser, boasting a 66% worldwide usage share of web browsers on desktop and a 50% share on mobile devices, making it the most used browser in the world, according to StatCounter, 2018.

Google keeps updating their algorithms and methodologies to best suit the user’s needs and this over the years has helped them stay on top of their game. After the big Google Speed Update, the next big step from the tech giant is the securing websites by marking non-HTTPS sites ‘insecure’. If you are looking to keep your eCommerce website secure and up in the long run, it is the right time to make the shift from HTTP to HTTPS.

What is the difference?

HTTP is the building block of the world wide web, the protocol over which data is sent between your browser and the website that you are connected to. After years of pushing for ‘secure by default’ websites, the tech giant – Google will now identify insecure sites in the Chrome browser beginning and mark them ‘insecure’ starting in July 2018.

Why HTTPS over HTTP?

  1. More Secure
  2. Helps with SEO Rankings
  3. AMP requires HTTPS
  4. Better referral data
  5. Credibility factor
  6. Customer information remains intact

The big shift

Google intends to mark all non-HTTPS sites ‘Non-secure’ starting July. This has been followed with a campaign by Google providing ‘Rank boosting’ incentives to sites that make the shift to HTTPS. Results of the campaign are.

  • Over 68% of Chrome traffic on both Android and Windows is now protected
  • Over 78% of Chrome traffic on both Chrome OS and Mac is now protected
  • 81 of the top 100 sites on the web use HTTPS by default

How to migrate from HTTP to HTTPS?

  1. Buy an SSL certificate (An SSL certificate contains both public and private encryption keys that are long strings of alphanumeric characters used to encrypt data in a way that’s very hard to crack thus making it ideal for protecting sensitive data.)
  2. Install the SSL certificate on your web hosting account
  3. Change all instances of HTTP to HTTPS to ensure there will be no broken links once you switch the HTTP to HTTPS switch.
  4. Set up 301 redirects from HTTP to HTTPS so that search engines are notified that your site’s addresses have changed and so that anyone who has bookmarked a page on your site is automatically redirected to the HTTPS address after you flip the switch.

There you have it, 4 easy steps to making your eCommerce website secure and web-friendly.

tricks-to-get-more-sales-via-Amazon-ads

5 tricks to get more sales via Amazon ads

As of today, it is nearly impossible for a retailer to imagine sales without being present on Amazon. With more than 50% of all retail product searches starting with this global marketplace, brands need to have an effective advertising strategy and make the most of their ads on Amazon. So how do you ensure more sales using your Amazon advertising?

Here are 5 ways to effectively generate more conversions, beyond ‘Sponsored Products’:

Optimize targeting options

When it comes setting targeting options while creating your campaign, the key is to use one for the benefit of the other. Use manual targeting to keep control over your campaigns but run a test with automatic targeting. You can create a keyword campaign using the manual version, like you would do for any search engine and then combine it with an automatic targeting campaign. By setting lower bids, you can use the latter as ‘keyword research’. Then if and when the search terms starts performing well, you can use that keyword in your manual campaigns.

Leverage Amazon Keyword Tool

Just like a search engine campaign, it is important to identify the right set of keywords for your Amazon advertising. Invest in extensive keyword research to get a better idea of how and what buyers are searching across the platform. Optimize your keyword bids based on their performance. This can make your campaign more efficient and opens up great chances of winning against your competitors.

Use the power of Feedback Five

Your customers are your best salespeople and their opinions have more impact on your sales. Leveraging the customer reviews using the Feedback Five tool, can put you on a 5-star rating and help boost sales. If you have abundant positive reviews, use it to showcase yourself. On the other hand, if you have customers with negative experiences, use for product enhancements or improve your marketing strategy.

Consider running discounts

Everybody loves a discount. And, from a marketing perspective promotions have always been a great way to increase traffic, visibility and yield reviews. Spread your discount strategy across ‘lightning deals’, price discounts, best deal, BOGO (buy one get one), hourly deals or even shipping discounts. Use these to leverage sales and highlight your products amidst the marketplace clutter.

5 Actionable ways to make the most of Marketplaces

Online marketplaces have grown to become one of the major trends in retail business. However, with more aware and knowledgeable customers, marketers need to be more strategic in their approach to reap the benefits of marketplaces.

Here are 5 simple, yet actionable ways to optimize your existence and make the most of marketplaces.

Consider product upsell

By bundling similar or related items, or offering add-ons at the point of purchase, can grab the attention of the buyer. For an effective product upsell, it is essential for retailers to have a diverse and exhaustive product offering, for the customers to choose, thus increasing sales opportunities.

Integrate Instagram

In the current digital landscape, Instagram, with its extensive user base, has grown to be an effective promotional platform for retailers. By using high-quality images of your offerings and related photos, you can target your audience right where they are. Also, by associating with such Instagram influencers, retailers can leverage their social followers and expand the customer base. This also develops a better connection between the customers and the brand.

Reduce ‘abandon carts’

This is one of the most prevalent problems for online retailers. Despite the most user-friendly and interactive site, attractive product listings, and competitive pricing, retailers often face unfinished transactions. That is why is important to revamp the point of purchase and increase conversions. For instance, integrating a live chat at the checkout stage can create interactivity and convince the buyer to complete the transaction. Similarly, offering a time-based discount at the POP can also help reduce abandoned carts.

Invest in an Email campaign

Emails might be a traditional marketing tool, but it is still relevant for the millennial shopper. One of the most budget-friendly marketing techniques, emails can be an effective email marketing campaign can result in conversions. Depending on your product and expected outcome, emails can range from drip mailers, image-based, or text mailers.

Use the ‘Wishlist’ Reminder

Most often than not, customers would indulge in window-shopping and not end up purchasing, but their product preferences are saved in the ‘wishlist’ for later use. This buying behavior makes for an excellent opportunity for retailers to reach out to their customers using a wishlist reminder through a text message, email or remarketing campaigns, by displaying products from the wishlist.

 

 

 

 

Understanding consumer behavior to improve sales

As markets evolve, so do consumers. With changing business trends, buyer behaviors also change which ultimately affect sales and revenue. Unlike earlier, the sole determining factor for buyers to make a purchase decision does not limit to the price-point but extends to more intangible ones.

The key factors behind shifting consumer behaviors:

Evolving online trends:

With evolving online trends, consumers look at ‘buying activity’ differently. Widespread social conversations, reviews, and an array of digital channels lead to more ‘informed buying decisions’. Also, being better connected to their favorite brands increases brand loyalty.

Cultural elements:

Even though their purchase technique and choice of products are different for the digitally savvy consumer, their decision is largely influenced by their society, social class, and its respective cultural elements. The cultural and social influences go hand-in-hand to define a consumer’s behavior. A classic instance of such behavior is how family habits and practices influence people. For example, if a family has had a ritual of buying precious jewelry on major festival days, the children tend to continue the practice, as a subconscious habit.

Personal preferences:

The personal preferences of millennial buyers largely impact their buying decisions. General demographics like age, occupation, and personality will determine what they are more inclined to buy and how. Also, since the modern lifestyle keeps radically changing, the consumer behavior also becomes more volatile. For instance, a sudden rise or drop in an individual’s annual income can change their preference in clothes, accessories, mode of travel, and even accommodation.

Psychological factors:

Lastly, psychology plays a significant role in defining a consumer’s behavior. As a marketer, to be able to successfully position your brand as a solution to your buyer’s need/s, you need to extract from their behavioral study which explains what they buy and how. Sentiments like needs, beliefs, attention, perception, and attitude can become motivational factors that drive the ultimate purchase decision of an individual.

The millennial consumer has more know-how and better connect with brands, and hence, is more perceptive and adept at assessing the brand value. This requires brand owners to have an in-depth understanding of consumer behavior and take a more customer-centric approach to drive sales.

 

5 sure-shot ways to increase your conversions

For the digitally evolved marketer, the success of their marketing campaign goes beyond website traffic and social media buzz. As much as these numbers look great on the monthly/quarterly reports, it ultimately boils down to the number of conversions that the campaign resulted in.

Find out how you can increase your website conversion rate with these 5 sure-shot ways:

Pay attention to search campaigns

Search campaigns have evolved to be one of the most popular techniques to increase conversions. Because PPC campaigns are paired with a website landing page, there are higher chances that users would land on the same and sign up. Provided, they are allured with excellent copy and right keywords leading them to your page.

Crack that perfect headline

The headline of your website landing page or of your search engine campaign is the first thing that your visitor sees and gets hooked on to. Ensure that your headline contains the most desired and unique benefit that your business provides and how it can solve a problem for the user.

Invest in landing pages

Besides capturing visitor data, landing pages also help boost conversions. Depending on how convincing and appealing the design, navigation, and content of your landing page is, your users would stay longer and take action. A landing page that leads to conversions should ideally be concise, direct and immensely attractive. With most users using smart devices for browsing, it is essential for marketers to also focus on optimizing their landing pages for higher conversions.

Make offers your audience cannot refuse

Who doesn’t like an attractive deal? However, depending on your business type, you could consider making your offer exciting. If your product or service does not call for interesting offers, then consider packaging it differently to create intrigue and appeal. For instance, an explainer video or animated info-graphic works as great marketing content thus helping brands generate more conversions.

Consider live chat

Customers look for experiences today. A live-chat application on your website can help transform your website conversion rate by turning your brand into an experience. By being a virtual ‘in-store’ support to your visitors and providing real-time engagement, live-chat influences their decision-making process.

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