September 27, 2018
The world of ecommerce has exploded during the past 10 years. In fact, according to Ad Week, several million dollars of business is transacted every 30 seconds on ecommerce sites today.
While much of the current online business being done revolves around B2C spending, B2B ecommerce is rapidly growing as a significant marketing channel for many companies. There is no doubt that there are significant sales and revenue growth opportunities for businesses of all kinds and sizes in B2B ecommerce.
In online B2B selling today, a company’s on-site search engine plays a significant role in achieving the goals of increasing sales and revenues. A major component of successful search engines is that they provide personalized and relevant search results to site visitors that prompt them to convert from mere shoppers into loyal customers. One of the ways in which a search engine can personalize the shopping experience for visitors is by bringing onboard a product recommendations tool. Hawksearch calls this optional feature Relevant Recommendations and it can serve as a great way to maximize the number of products and dollars that shoppers spend on your website.
In this blog, we will look at the Hawksearch Relevant Recommendations tool, how it works and the ability it has to increase sales by changing the way B2B companies interact with one another.
What Is The Relevant Recommendations Tool?
Relevant Recommendations is an optional tool within Hawksearch that allows your B2B ecommerce site to make suggestions of additional or alternative products for your shoppers to consider. These suggestions are based on items that already appeal to them, sourced from known data. This technology unleashes the power of suggestive selling by including sections on your landing pages with headers such as “also viewed” and “more like this”. By giving visitors more options to purchase, the chances of conversion increases in both the areas of product quantity and sales revenue per transaction.
Machine Learning – The Power Behind Relevant Recommendations for B2B Ecommerce Sites
Machine learning is a technology that is a form of artificial intelligence. Search engines such as Hawksearch have the ability to analyze huge amounts of data regarding the shopping, search and purchasing patterns of B2B customers. From these evaluations, predictions can be made about what products and items would most likely appeal to these shoppers. It is this predictive analysis that allows Hawksearch to make product recommendations that can effectively “upsell” every transaction.
How Relevant Recommendations Is Changing The Way B2B Business Is Done
Historically B2B companies did business off of the internet by contacting a sales rep and working out of a catalogue. While this process was successful for many years, ecommerce and tools such as Relevant Recommendations are changing the way that B2B businesses conduct transactions with each other. Selling methods and customs that were once mainstays in the B2B marketplace are now becoming more obsolete. The B2B ecommerce website can now act as a virtual sales person by suggesting products based on known needs and prior purchase history. When specific products are targeted to a predetermined audience, the chances of additional sales and revenues increase greatly.
The world of B2B ecommerce has an enormous amount of opportunities for businesses who make the investment of time and resources into doing it effectively. Your search engine will play a crucial role in directing the right products and services to the proper audience. The Hawksearch optional feature Relevant Recommendations is a powerful tool for B2B ecommerce sites to increase sales and revenues by displaying to buyers the products that they are most likely to purchase.