Today's B2B buyers expect the same eCommerce experiences that they have when shopping as consumers. You may be thinking; clear product pages, rich content, easy navigation & fast loading web pages. But one of the most important yet overlooked aspects of an eCommerce site is the checkout.
As B2B buyers demand a more streamlined, consumer-like purchasing experience, optimising the checkout process has become a crucial differentiator for businesses looking to align with the evolving expectations of their buyers and stay ahead of the curve.
In this article, we’ll break down 5 ways you can ensure your checkout experience meets & surpasses the increasing expectations of your buyers.
1. Offer Flexible Payment Terms
One of the most common pain points for B2B buyers is the lack of flexible payment options at checkout. We all know offering payment terms is commonplace in B2B commerce, particulalrly for offline sales, but eCommerce platforms rarely provide suitable solutions for these agreements.
Our research shows that offering payment terms has a clear impact on eCommerce growth
- Conversion: 82% of customers are more likely to purchase
- Basket size: 68%+ increase in average order value
- Loyalty: 2x increase in repeat purchases
With Kriya’s PayLater solution, B2B merchants are able to offer flexible payment options at checkout, giving buyers the choice of 30, 45 and 60-day terms all within a single flow. Authentication, buyer onboarding and credit risk is all handled by Kriya. Learn more about B2B eCommerce payments with Kriya.
2. Provide a range of payment options
As a merchant you may think you’ve got a good understanding of the most common payment methods your buyers want to see at the checkout, but there may be a range of payment preferences you’ve overlooked that could drive further growth in conversion.
Research shows that buyers consider payment options so important that they’ll take a look at them before making a purchase..
Merchants should consider integrating a range of payment methods, including credit cards, direct debit, and B2B Buy Now, Pay Later (B2B BNPL) solutions specifically designed for the B2B market. By offering a diverse array of payment options, businesses can cater to the diverse needs and preferences of their buyers, ultimately driving higher conversion rates and meeting the needs of a broad range of potential buyers.
3. Streamline the Checkout Process
Speed and simplicity are two critical tenets of those increased B2B buyer expectations we’ve been talking about.
It’s all too common to find B2B checkout experiences today that involve lengthy forms, unintuitive page designs and confusing steps to follow. Streamlining the checkout experience involves reducing the number of steps required to a minimum, pre-populating customer information where possible, and providing clear and concise instructions throughout the process.
With B2B payments through Kriya, we provide a streamlined, frictionless checkout experience:
And for merchants that require buyer authentication, this can be a clunky process as part of the checkout experience, adding unnecessary friction to the checkout flow. With Kriya, authentication is handled seamlessly in a single payment flow. Credit checks and spending limits are provided instantly with minimal requirements from the buyer. Learn more about how we handle authentication.
4. Provide High Quality Customer Support
Effective customer support is another key element in delivering a best-in-class B2B eCommerce checkout experience.
By providing readily available and responsive customer support channels, such as live chat, email, or even AI-powered chatbots, merchants can address buyer queries and concerns in real-time, build trust, and potentially save conversions that might otherwise be abandoned.
Not only does this drive conversion, but it gives the merchant an opportunity to build a relationship with the buyer. A successful customer support interaction will prove to the buyer that the merchant is there to listen and support buyers with their specific needs.
5. Leverage Data-Driven Insights
In order to fully optimise the B2B eCommerce checkout experience, merchants need to adopt the same data-driven approach that is standard practice on the B2C side.
By analysing customer behaviour, pain points, and purchase patterns, they can identify areas for improvement and make informed decisions to enhance the overall buying journey.
This may involve conducting user feedback surveys, tracking checkout abandonment rates, and monitoring key performance metrics such as conversion rates and average order value.
Armed with these insights, B2B businesses can make specific improvements to their checkout process, payment options, and overall customer experience.
Are You Innovating or Leaving Money on The Table?
Give buyers the choice to pay on their own terms and provide a seamless checkout experience with Kriya Paylater. We handle the transaction from end-to-end, with a frictionless buyer journey.
- Instant buyer authentication & spending limits set
- Flexible payment terms
- Kriya pays you in full on delivery of order
- Kriya takes on the risk & handles payment collection
PayLater is driving real growth for our merchants:
- 40% Buyer Adoption
- 45% Revenue Growth
- 4x Increase in acquisition of new buyers
Talk to our team today to find out more about how we can help you
