Increase conversion rate in B2B checkout! This is how it works
Your online store has an attractive range of products and many of your prospects and customers visit your site regularly. The presentation of the goods is exemplary and the shopping cart is quickly filled with numerous products. Now comes the decisive moment for you as a store operator. Will the customer pay for the items collected in the shopping cart at the checkout during business-to-business (B2B) Checkout?
What is the Conversion Rate?
The conversion rate shows the activities of visitors on a website. However, it only includes visitors who download, fill out a form or complete a purchase, i.e. when a visit is converted into an activity.
How is the conversion rate calculated?
The conversion rate is calculated by dividing the number of conversions by the total number of visitors to a website.
The initial situation with the checkout process in the B2B area
Many operators of online stores are surprised that, despite lively visits and many items placed in customers' shopping carts, no sales are made in the end. Studies on this phenomenon have shown that between 40% and 80% of customers abandon their planned purchase during B2B checkout. This is very annoying, because without a payment transaction, no business revenue is generated for you. What are the backgrounds for such massive customer behavior?
Checkout B2B - clear and customer-friendly design
Limit the checkout in the online store to the essentials
Checkout B2B companies - offer as many payment options as possible
B2B invoice purchasing in combination with Billie Boost - a "win-win" situation
B2B checkout process - let customers choose from shipping options
B2B checkout - offer free shipping and free returns as an incentive to buy
Checkout online store - don't let abandoned carts expire
Continue to support the customer after the checkout process is complete
Regularly review and adjust the checkout process
Checkout B2B - clear and customer-friendly
After a leisurely shopping experience in your online store, the customer looks forward to a streamlined and clear B2B checkout process. Here, the customer would like to be guided to complete all necessary entries as easily and error-free as possible. A guided process that is limited to the essential data is best. A single form with a plethora of input fields is demotivating and deters some potential buyers. It is better to divide the process into, say, four to five steps that form a logical structure. For example, the individual steps in the checkout process could look like this:
Registration with personal data
Scope of delivery from the shopping cart with details
Verification of the information provided with subsequent order
Reward for successful order with option to print it out
In each of the first three input fields, the information provided by the customer should be checked for plausibility to avoid input errors. After successful data entry, the customer is taken to the next field in the row. This gives the customer a small sense of achievement after each step if the entries were correct. At the end, it is important to see all the data again clearly at a glance in step four before the order is placed. Many people have a good feeling when they can print out the order they have placed after successful online shopping.
First and last name
Valid postal address
Cross-selling-relevant information such as age information or the question of interest in further offers should be omitted during the B2B checkout. The process should be limited only to data that is necessary for purchase processing according to legal and data protection requirements. A good idea is to mark mandatory fields when entering data in the B2B checkout. This gives customers the opportunity to limit themselves to only relevant minimum data. In the case of input fields that contain multiple options, every customer is happy to receive assistance. An explanation window with brief information is helpful in these cases to clarify open questions. Professional online stores offer customers the opportunity to receive extensive information in a live chat when questions arise.
Checkout B2B companies - offer as many payment options as possible.
Studies have shown that seven out of ten customers abandon the purchasing process. One of the main reasons for this is that the desired payment option is not available during the checkout process. This affects around a third of all purchases started in the online store. Here is a selection of the most commonly used payment methods for online shopping:
Payment by invoice
Use of coupon codes
The richer your selection of payment options, the greater a successful checkout process. In this context, it is a good idea if you already point out the variety of payment options on your store's homepage. This information motivates many customers to visit your store.
Increase conversion rate with B2B invoice purchase
Payment by invoice is one of the most popular payment methods among your business customers in Germany. For you as a merchant, this payment method is associated with risks, as you first deliver the goods and only receive your money later. With Billie Boost you can eliminate many risks and at the same time offer your clientele a convenient payment term.
Billie Boost's modern store system is quickly installed for you as a merchant in just a few steps. In real-time, your B2B clientele will be identified at the store's checkout when the "pay by invoice" option is selected. In just a few seconds, the system tells you, based on a digital scoring algorithm, up to what amount goods can be ordered from you. This applies equally to new customers for a first order. Another advantage is the agreement of payment terms for your customers. The store system offers you as a merchant the option of receiving a payment from Billie Boost as early as the seventh day after the invoice is created. Want to learn more about B2B payment by invoice? Then schedule a demo now. Our B2B experts are happy to consult you:
B2B checkout process - let customers choose from shipping options.
A shipping company's messenger has dropped a note in your mailbox about a failed delivery, even though you were home all day. Now the package is waiting for you to pick it up at a faraway storage facility. Has this ever happened to you? Regionally, there are differences in the quality of mail delivery. Give your clientele the opportunity to choose from different shipping service providers. This will definitely increase the conversion rate during B2B checkout in your online store.
B2B Checkout - free shipping and free returns as an incentive to buy.
Psyche plays a significant role in the ordering process in online retail. Many customers are willing to buy products that reach an order value of several hundred euros. When it comes to shipping costs, the clientele is then thoughtful and cancels the purchase completely even at low costs. Of course, you as the store operator have to bear the shipping costs. In almost all cases, these manageable costs are no comparison for you as a merchant to the margin on a sold item. Be generous and offer your customers free shipping. A good tip is to tie free shipping to a minimum order quantity. By doing so, you create customer incentives for a fuller shopping cart at checkout.
The same principle applies to return shipping. Often, for example, items are ordered in different sizes or colors. The customer is not sure what exactly suits his needs. With free return shipping, you offer your customer the opportunity to return unsuitable goods. This is a better alternative to an abandoned purchase in B2B checkout.
Checkout online store - don't let abandoned shopping carts expire
Now it has happened after all! Your customer has abandoned the purchase at the checkout and left your online store. Just like in a department store, the filled shopping cart is standing next to the checkout, unemptied. The reason for abandoning the purchase does not always have to be dissatisfaction. Maybe the doorbell rang or a decision-maker in B2B had to rush off to a meeting. Maybe your customer returns to the store on the same day and is happy that his order process is still visible to him. This gives your online store a huge advantage over normal shopping.
In case your customer's shopping cart is not picked up promptly, there are useful tips. If the email address is known, you can use an unobtrusive message to remind the customer of their abandoned purchase. Listing all the items in the shopping cart will spark renewed interest in your business partner. In many cases, the aborted order process is forgotten by the customer in the hustle and bustle of everyday life. With a direct link in the mail to the cancelled order process, you may facilitate the renewed checkout process B2B. Perhaps a discount on the ordered items will increase your chances of successfully closing the deal.
Continue to support the customer after the checkout process
Your customers enjoy a small sense of achievement. Congratulate your customer after the successful checkout in the online store. Let them know that the goods they ordered are already on their way to their destination. This pleases people and makes them feel good. Many customers like to use online stores that also offer additional services. For example, it is interesting to know:
When was the package shipped?
Where is the shipment currently located?
When exactly is the delivery expected?
Studies have shown that the click-through rates in relation to this information are very numerous. Your clientele feels well informed and thus gains additional trust in your online store. This increases the probability of the next order.
Regular review and adjustment of the checkout process
An optimal process at all levels is crucial for the success of your online store. In addition to the presentation of goods, the checkout for business customers is an important component. Here, you should create customer loyalty while enabling the most efficient checkout process for your clientele. Additional trust is conveyed by the recommended seals of approval in online retailing, which can be obtained through test certification.
A good presentation of high-quality goods is the basis for your successful online store. The moment of truth comes at the checkout during the B2B checkout process. Studies have shown that between 40 and 80 percent of potential customers abandon the purchase during B2B checkout and subsequently leave the store. The reasons for this are often due to a lack of options or poor guidance during the checkout process. If you succeed in improving your checkout process with our suggestions, the conversion rate in your online store will increase significantly.
Do you have your own online store for business customers and would like to implement payment by invoice as a payment method? Or do you have questions about B2B payment methods and payment by invoice? Then get in touch at firstname.lastname@example.org. We look forward to hearing from you.