WEBVTT NOTE This file was generated by Descript 00:00:00.449 --> 00:00:01.930 Hey everybody, I'm Ryan with Magento. 00:00:02.389 --> 00:00:05.510 You know, not everything that gets sold online goes right to an end consumer. 00:00:05.920 --> 00:00:08.680 In the past decade, there's been an accelerating trend of business 00:00:08.690 --> 00:00:13.000 to business or B2B commerce moving its way online, with 93 percent of 00:00:13.000 --> 00:00:16.360 business to business buyers saying they prefer to purchase on the internet. 00:00:16.489 --> 00:00:19.619 If you've got businesses as your customers, even if it's just a small 00:00:19.619 --> 00:00:22.959 portion of your buyer base, it's time to start paying close attention. 00:00:23.270 --> 00:00:33.639 Today, I'm going to show you six ways to do B2B commerce right. 00:00:33.640 --> 00:00:36.929 So just how different is B2B commerce from traditional online selling? 00:00:37.390 --> 00:00:40.360 While a lot of the process seems like it should be similar, there are touch 00:00:40.360 --> 00:00:43.090 points throughout where the right technology makes all the difference. 00:00:43.195 --> 00:00:46.015 First up, Quotes. 00:00:46.734 --> 00:00:49.415 The B2B buying process can be completely different from a 00:00:49.415 --> 00:00:51.044 traditional customer experience. 00:00:51.525 --> 00:00:54.764 Business buyers often require an itemized quote of everything they're planning 00:00:54.764 --> 00:00:58.484 to buy, so they can get approvals or funding to complete the transaction. 00:00:58.614 --> 00:01:01.605 This means you need the ability to lock in both the contents and the 00:01:01.605 --> 00:01:04.555 price of your customer's shopping cart, and arm them with the materials 00:01:04.555 --> 00:01:05.925 they need to finish their process. 00:01:06.375 --> 00:01:09.814 Now this does represent a pretty major feature enhancement to the cart, but 00:01:09.814 --> 00:01:12.085 it could bring in some huge orders. 00:01:12.085 --> 00:01:14.205 The Number two, negotiation. 00:01:14.785 --> 00:01:17.465 B2B customers spend a lot of money, and that means they'll want to 00:01:17.465 --> 00:01:21.115 negotiate, which is something you rarely see in the direct consumer world. 00:01:21.355 --> 00:01:24.235 If you have a sales staff that negotiates special rates for your B2B 00:01:24.255 --> 00:01:27.894 customers, for example, you'll need a tool where the sales staff can log 00:01:27.894 --> 00:01:31.795 in, manage quotes, and apply these special discounts and negotiated prices. 00:01:32.184 --> 00:01:37.505 These manual overrides empower your staff and are critical if you want B2B player. 00:01:37.965 --> 00:01:39.564 Number three, multiple logins. 00:01:40.390 --> 00:01:43.590 If you're a B2B buyer, you might need many people at your company to be able 00:01:43.590 --> 00:01:47.840 to log in and add items to a quote, submit approvals, or review details. 00:01:48.060 --> 00:01:51.550 Sharing a password or huddling around a single computer screen are pretty bad 00:01:51.550 --> 00:01:55.409 practices, and that's why the best B2B sites offer individual logins for each 00:01:55.409 --> 00:01:59.380 employee, an ability to set roles and permissions, and a way to manage them 00:01:59.380 --> 00:02:01.250 all through a master company account. 00:02:01.250 --> 00:02:07.469 We're all used to browsing product and category pages on websites, but what 00:02:07.469 --> 00:02:09.219 if you want to buy hundreds of items? 00:02:09.830 --> 00:02:12.600 This happens to business buyers constantly, and they usually 00:02:12.600 --> 00:02:15.980 already have CSV files or lists of items they want by SKU. 00:02:16.300 --> 00:02:19.590 A great B2B commerce site allows shoppers to upload a bulk list 00:02:19.590 --> 00:02:20.670 of items they want to buy. 00:02:21.010 --> 00:02:24.129 The items go right into the cart, saving potentially hours of 00:02:24.130 --> 00:02:27.629 procurement time, and increasing your chances of closing the sale. 00:02:28.210 --> 00:02:34.970 B2B customers are often buying in bulk, and have strict requirements around how 00:02:35.010 --> 00:02:36.329 and when they receive their products. 00:02:36.775 --> 00:02:39.985 So it pays to have visibility into your inventory and orders. 00:02:40.225 --> 00:02:44.015 This means knowing real time inventory from across your supply chain and using 00:02:44.035 --> 00:02:47.495 automated business rules to optimize fulfillment costs and delivery times. 00:02:48.085 --> 00:02:50.755 With this in place, not only will you deliver a better experience 00:02:50.755 --> 00:02:53.775 to your B2B customer, you'll also increase profitability. 00:02:54.225 --> 00:02:56.075 And finally, B2B analytics. 00:02:56.515 --> 00:03:00.115 When dealing with business buyers, the whole customer journey changes, and 00:03:00.115 --> 00:03:01.645 so your analytics have to change too. 00:03:02.235 --> 00:03:05.625 Everything we've talked about here impacts how you study and optimize your business. 00:03:05.995 --> 00:03:07.625 Quotes are an extra conversion step. 00:03:07.885 --> 00:03:09.674 Negotiation impacts margins. 00:03:09.954 --> 00:03:12.775 Multiple users means new actions and handoffs that could 00:03:12.775 --> 00:03:14.055 trigger specialized marketing. 00:03:14.500 --> 00:03:17.420 You have to make sure your analytics are optimized for B2B. 00:03:17.859 --> 00:03:20.690 So how do you get all these best practices rolled out on your site? 00:03:21.130 --> 00:03:22.529 Well, Magento 2. 00:03:22.769 --> 00:03:23.519 2 has it all. 00:03:24.109 --> 00:03:27.530 Magento is named a B2B commerce leader in the Forrester wave and powers 00:03:27.540 --> 00:03:31.769 more businesses on internet retailers B2B 300 than any other platform. 00:03:32.100 --> 00:03:35.170 And with our complimentary tools like Magento order management and 00:03:35.170 --> 00:03:39.500 Magento business intelligence, you can become an unstoppable force in B2B. 00:03:40.160 --> 00:03:41.120 Head on over to Magento. 00:03:41.170 --> 00:03:41.929 com to learn more. 00:03:42.469 --> 00:03:43.299 Thanks for watching.