3 ways to identify which of your products will sell online

By Victoria Dyke on Thu 28 August 2014 in Web & eCommerce

It is currently reported that 93% of B2B customers conduct their research on the internet and 88% of which would actually prefer to buy online.

Now, you may be saying ‘none of my products can be sold online’, but in my experience, it is very rare to find a company who has nothing to sell online. These products may not be jumping out at you, but ask yourself the following 3 questions and you may discover you need an online sales channel.

  1. Which products have the highest volume in sales?

These are usually low value products that customers want to order quickly and easily, at a time convenient to them. Extending your business hours online, combined with providing your customers with relevant account details (such as sales history and their own pricing), will offer the same service to your customers, at a lower cost that is not restricted by working hours.

  1. Which products have the lowest margin?

These products often cost the most to sell – moving these products online will lower your cost of sale and free-up sales force time. An online shop is also often cheaper than telesales staff.

  1. Are there complimentary products you could sell, but don’t because of the high cost of sale?

I worked with a company who provided high value machinery but not the spare parts. Why? Simply because the cost of sale was too high. Unfortunately, their customers would still phone for advice on which spare part to buy before ordering elsewhere. Combining this expertise with a cheaper order taker (an online shop) meant that their cost of sale was no longer an issue. Now, their customers can simply log in to find the piece of equipment they have, click on the part that is broken and be taken to the correct spare part on their online store.

Around two thirds of B2B organisations are already selling online – with products ranging from electrical parts to bespoke solar panels!

It is clear that B2B customers want to order online. They can place orders out of hours, access relevant account details and view up to date stock availability thus making it easier for them to do business with you at a time that suits them.

ProspectSoft offers B2B portal and B2C web shop solutions, helping your business run more efficiently. Our solutions integrate with the valuable customer information stored in your Access Dimensions, Exchequer, Pegasus Opera or Sage 50 accounts system. This provides your customers with the same excellent service online that they would get if they were to call.