Top 6 key indicators of success in B2B eCommerce

KPI (key performance indicators) or key success indicators are important for measuring efficiency of B2B ecommerce. On one hand, they create a clear image of the affect that eCommerce has on the whole business, but at the same time they help in recognizing strengths i.e. weaknesses of your online business much easier. Also, B2B eCommerce KPI significantly helps in defining a future business strategy.

So, what does B2B eCommerce KPI actually relates to? Key success indicators in a B2B web shop include data like turnover range, CR (conversion rate), average value of eCommerce orders and the rate of keeping visitors. The KPI you choose have to be in accordance with your eCommerce goals and your business goals in general.

For example, practice has shown that cost savings, the increase of efficiency and client satisfaction are some of the most important issues for B2B ecommerce companies in 2019. Is your goal a higher rate of client satisfaction?

Then B2B eCommerce KPI such as the rate of keeping visitors or repeated visits can indicate the level of satisfaction of your clients. If your goal is increasing sales, focus on a KPI like the number of online orders and the average order value.

In order to help you manage your online sales channel more easily and efficiently, we give you on overview of the top 6 B2B eCommerce KPI, i.e. key business indicators.

B2B eCommerce KPI 1: The rate of keeping visitors in a B2B web shop

This key indicator of success indicates the ways you can improve the user experience in your B2B eCommerce. Because a pleased client will surely buy from the web shop again.

For a great number of B2B companies, eCommerce is still an alternative to “classical” sales channels.

That’s why many of them want to analyse when and for what reasons clients “switch” to the online sales channel.

For example, if certain buyers start ordering products or services online more often, it can mean only one thing. B2B eCommerce fulfils their expectations and needs. On the other hand, if clients switch back to offline ordering after some time, it is a clear indicator that a B2B web shop needs improvements.

B2B eCommerce KPI 2: The percentage of repeated visits and purchases

The number of buyers that return to a B2B web shop and repeat buying is a very important KPI for B2B sales. Namely, this key indicator of success indicates how much the online sales channel fulfils their expectations in the period after placing the order.

An integrated B2B eCommerce system can help you significantly. Along many other advantages, these systems enable your clients an insight into real-time information on the condition of the inventory 24 hours a day, seven days a week. Client has a unique approach to viewing previous orders and the possibility of creating new orders from the existing ones. That means that a B2B buyer can repeat an order he was satisfied with in just a few simple clicks.

Also, when creating an order, the integrated B2B ecommerce system checks the actual condition of the inventory directly in the Microsoft Dynamics NAV system. So, it is impossible for the buyer to create an order for a product that isn’t currently available. Also, the inventory condition in the MD NAV system is updated when creating every new online order.

B2B eCommerce KPI 3: Client satisfaction with their buying experience in a B2B web shop

Online analysis tools and measuring the level of buyers’ satisfaction are more often used by smaller sellers than big suppliers, manufacturers and goods and services distributors. However, the implementation of such online tools can significantly help B2B companies to measure more efficiently the actual levels of satisfaction in their clients.

One of the biggest advantages is the fact that the relationship with B2B clients is generally much more personal than it is in B2C eCommerce. B2B clients know exactly what they want and have specific requests and expectations. At the same time, they are more open to detailed surveys and questionnaires regarding their user experience.

The benefits of such a relationship with clients in B2B eCommerce should definitely be utilised. They are a proven great source of new ideas for providing the best possible buying experience in a B2B web shop.

B2B eCommerce KPI 4: The frequency of online orders

This key performance indicator indicates the range in which an online channel improves the efficiency of sales and user support teams.

Namely, various combinations of smaller orders make a big part of sales. Still, in the offline sales channels, the processing of such orders is time consuming and depletes significant business resources. If they switch to an online sales channel, where clients can create them themselves, it will significantly disburden the sales team and the user support department.

That is precisely one of the biggest advantages of an integrated B2B eCommerce system, which enables better sales results with less costs and without increasing the sales team.

Thus, if you want to determine how profitable implementing the online sales channel actually is, it is necessary to measure the frequency of online orders and compare those numbers to the total number of orders.

B2B eCommerce KPI 5: The average value of online orders

The average value of online orders is an excellent indicator of changes in consumer habits of B2B buyers. This B2B eCommerce KPI indicates whether you are using cross-sell or up-sell potential of the eCommerce platform. Additionally, it also shows whether buyers are finding the products they are looking for but also the ones they may not be looking for, but need them.

An integrated B2B ecommerce can be of great help here. These systems track B2B buyers’ behaviour themselves and offer them related, i.e. alternative products if wanted ones aren’t available. Also, every client has the possibility of live chat and adding comments with their orders, which significantly helps in recognizing buyers’ needs.

B2B eCommerce KPI 6: The number of online orders outside working hours

With the help of an integrated B2B eCommerce, business becomes simpler and more profitable. At the same time, buyers get approach to detailed information on products, 24 hours a day.

That is exactly why the number of orders outside working hours is a clear indicator that you are fulfilling B2B clients’ expectations and that you should keep investing in a B2B web shop.

You can even take it a step further and compare the average value of offline orders where a buyer has researched your offer previously, with an average value of offline orders that have been placed without previously researching the offer. This information clearly indicates whether a B2B web shop enables its buyers accurate and detailed information on the available products.

Why is it important to track B2B eCommerce key performance indicators?

The answer to this question is very simple. B2B eCommerce KPI help you analyse the return on investment in the online sales channel much easier, and to recognize trends in B2B eCommerce on time. Trends you can capitalize on in order to attract a higher number of buyers that will shop in your B2B web shop more often.

You are looking for a quality ecommerce platform that makes all of this even simpler? Then contact us today to be presented with the best solutions for pleased buyers and a successful B2B web shop.