New Year’s resolutions are fickle old things. As much as it feels like a tradition to make them, we’re not always the best at sticking to them. However, according to Forbes, one of the most essential things a business can do is to goal plan and set achievable targets to promote business growth. Consider it a goal more than a resolution than a target that should help your business have an even more successful year in 2022.
Below, you’ll find three New Year’s resolutions we think your brand should stick to.
Focus On Rewarding Purchases
Everyone likes to be rewarded when they do something, and spending money is not something we naturally associate with being rewarded for – more like punished for as our savings go down. Nonetheless, b2b brands can set up various rewards programs, from a channel loyalty programme to vendor rewards that are proven to work.
They’re proven to work because they promote a positive buying experience. 93% of customers will more than likely return for future purchases if they think their experience with your brand was excellent – and a b2b rewards program can make that experience perfect. There’s a great example of a b2b customer loyalty program through this link www.incentivesmart.com/customer-loyalty. A good rewards program should dish out returns for more than just purchases – think about the benefits for your business if you’re offering rewards for referrals.
Rewards programs are a sure-fire way of ensuring customers spend more with your company by retaining them – and existing loyal customers are behind 65% of a company’s business, according to Forbes.
Make Business More Like B2C
B2C sales have perfected the art of streamlining shopping – from one-click purchases to saved card details, the online shopping experience for a B2C buyer is easier than it has ever been before. And, with a shift towards eCommerce that we’ll touch on, further along, B2B brands should consider how they can make their buying experience more like that of a B2C shopping experience.
One way of doing so would be to include one-click purchases. One study found that buyers only meet with suppliers for 17% of the entire buying experience. There doesn’t have to be a lengthy phone call or meeting to make a B2B sale – brands should look to adopt one-click online purchases to make buyers’ life easier.
Shift Towards eCommerce
A New Year’s resolution for all B2B brands should be to focus on the shift towards eCommerce. A third of all sales are now made through eCommerce marketplaces because of their simplicity. Gone are the days of ancient buying methods like purchases over the phone – the rise of eCommerce has allowed B2B buyers to make their purchases through brand websites and marketplaces.
Optimize your website with a call to action and clear directions that help customers locate and order products without the need to speak to an advisor over the phone. Although the transactions are more substantial, there’s no reason why purchases online can’t be made in the same way B2C sales are.
‘This is the season to think about the things we want to change and achieve in the New Year, and the resolutions above should help your business work towards efficient and profitable sales. Emphasis should be placed on the buying experience and how it can be streamlined and simplified to mirror the B2C buying experience, as 80% of buyers are now demanding this.