Magento Commerce is one of the best platforms to build a wholesales business. No doubt.
And this is contributed by the beauty of Magento – its scalability.
FOOD FOR THOUGHT: Best Magento B2B development tools to build your B2B from scratch!
However, to tap into and make full use of these potentials, you need a plan. And we here to build it with you.
In this post, we’ll review the map for a Magento wholesale building with a focus on phases one and two of such a journey. Noted that we will make a different approach from the common ones about Magento 2 B2B development, not focusing on technical concerns but exposure business aspects of the process.
Magento B2B Development – The Full Map
So, this is going to be a little bit academic-y but bear with me.
For anyone who wants to start an online wholesale business, you need to climb on this ladder steadily. Here is how you apply Maslow’s Hierarchy of Needs for Magento B2B development.
MUST CHECK>>> Magento 2 B2B company structure full explanation.
Let’s quickly go through each stage.
Start with your presence. No matter what, your online store is essential to your business, just like water is essential to humans.
As a mean of survival, your Magento website design needs to be clean and crips all around the edges.
Next, your business needs to have a safety net. And by that, I mean a flow of purchase that is easy to:
- Find the product of need
- Access to other attached services
INSTANT KNOWLEDGE: Magento 2 B2B quick order – importance and how to set up!
Keep all of the bunky and nasty at your backend and make sure your frontend is impeccable.
Loyalty and customer lifetime value are crucial to the success of your wholesales business. So far, we’ve talked about crafting an experience of purchase but what after that?
Your loyalty-building project! There are two rules:
- Make it simple to access + easy to understand.
- And make the rewards count.
We’re moving towards how to maximize order values and conversion rates.
And the answer is simple: Make your Magento website design fills with personalized options!
You can see this sentiment echos in the arguably biggest wholesales business – Amazon. They reinforce the idea of personalization with their product recommendations, shipping-and-payment preferences, and many more.
“New is always better” – you can disagree with the statement but can’t do the same thing with the message.
Any responsible Magento B2B development agency will tell you that their result with your business is temporary and you need to be aware of the curve. In other words, keep yourself in-check with new updates, new trends to apply and improve your business.
Now, let get to the main discussion of this article: How to build the perfect phase one for your Magento B2B website.
#1 Phase One – Presence: Basic vs. specialized
It’s a bit of a dilemma for any new business, let alone, wholesales. For any given ecommerce set up, there is a debate between what you need for starter and what you need to stand out.
Here is how you figure it out:
Magento is no different. That being said, Magento website design takes into account both easy-to-do features and time-intensive customization.
Essentially, the ratio between these two will depend on your ambition for the business. However, when it comes to purchasing experience, hassle-free is indispensable.
Every single product and service that ever been created all but from the demand for making life more comfortable. And you want that for your B2B store. Empty the road to purchase, make it smooth, make it enjoyable, make it opened for updates.
#2 Phase One – Safety: Strike For Simplification
Once again, let’s talk about Amazon.
Do you know that they have a 1-click order option available? And how it affects your goal for the whole purchase experience?
Now, that should tell you the current bar for ecommerce simplification. Now let’s project that to the customer journey and find out what you can do at each stage:
Awareness – Capture leads
This might sound completely unrelated to the core value of simplification. But remember the earlier guideline we laid out? Yes, easy to find was one of the criteria.
And you need to perfect this characteristic of your site to:
- People searching for your type of product/service
- People maneuvering on your site for product/service
How you are going to do it? SEO! And here are over-simplified best practices for SEO for every Magento ecommerce website.
FULL VERSION >>> Magento SEO checklist – From A to Z Criteria to get higher rankings!
Consideration – Diversify options (especially pricing!)
Now that you have the visitor’s attention, it’s time to put it to work.
The number one rule for any Magento ecommerce website is to keep the visitor occupied. In other words, extend the time on page with engaging information/options to increase the conversion rate.
Previously, we’ve talked about how cross-linking is a data-proven successful tactic (case in point Amazon), now, let expand on that.
How about allowing side-by-side comparison. Like this?
>> STEP UP THE GAME: Magento 2 Improved Configurable Products!
By offering every available option up front, you create a seamless purchasing experience that all happens on one single page. And that’s how you simplify the process to maximize the outcome.
Conversion – Perfect the checkout flow
Let just cut to the chase. Here is what you need to do with your Magento checkout process:
- Make it fast.
- Allow complex orders.
- Enable reorder options.
While the first one holds true to any type of transaction, the other two are supported by the B2B buyer persona.
As a Magento wholesale business, you’re working with a company/a collective of buyers. This type of customer has a more complex demand and a very imprinted pattern of purchase.
That’s why you need to put extra effort into smoothening the checkout process.
Loyalty – Enable post-sale program
There is a reason why B2B customization starts and ends with the buying account.
At the get-go, you want to control the stream of wholesale buyers with force login. That way, you can separate to offer exclusiveness.
Here, after the purchase is placed, you want to provide an interface that is easy to:
- Track order
- Pay invoice
- Check report
- Monitor reward points/credits
Once again, this is adaptive to the characteristics of B2B buyers with the aim of a long-term relationship.
So that’s how you jump start your Magento B2B with a perfect phase one. Now, let’s quickly cover what will be your next step afterward.
Phase Two – Maximize Order Value And Keep on Update
Lift up your average order value
The key strategy here is to learn your customer preferences and develop bespoke offers for them.
After phase one, you’ll have a solid database of previous customers. It’s time to put it to work.
Start to look for a pattern in their purchases. It could be their product attributions, their preferred payment/shipment, or even the time of purchase. And that’s on micro-managing your customer persona.
This works phenomenal for a small B2B business, but if you have a bigger sample pool, it gets trickier.
The challenge for your business here is to develop a protocol that allows you to automatically group customers based on order frequency, monetary value, and recency. This way, you can handle the volume of customers by segmentation and matching the best offer for each type of customer.
At this stage, I highly recommend you to hire a trusted agency. You’ll have the best of both worlds – a great plan of action and amazing experience to move forward.
Use a head to stay ahead
Now that you have a system that works excellent, the only thing left is to stay ahead of the game.
One might argue that the B2B market isn’t a constant flux. Yes, you’re absolutely correct. But it’s not the excuse to stay still and be unaware of the technology changes that happen every single day.
Once you decide to go digital, it’s extremely dangerous to ignore its trends and updates. Moreover, you can capitalize on them to make your turnover bigger.
Therefore, keep an eye on changes in SEO, in market demands, regulations, technology. Question how you can incorporate them into your e-commerce.
Pay attention, the business that faster to adapt always get the longest end of the stick
We’ve just learned about the basic building block for a successful Magento wholesale startup. What’s next? Turn on your post notification and wait for the next blog on filtering through the marketplace for a partner, aka choosing Magento B2B development extension!
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