- Card Payments
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The dichotomy between eCommerce vendors in both the B2B and B2C realm has been discussed at great length in this blog. Ultimately, while B2B vendors have their own set of policies they must follow, the goal is to create an experience that blurs the lines between the two sectors of business.
Knowing that there were some roadblocks preventing it from reaching customers the way its B2C counterparts could, ID Wholesaler - a leading provider of business badge accessories - decided to implement innovative strategies to better engage the customer base. The creative team at the company orchestrated a gamification strategy to further engage customers by promoting some friendly competition.
Jennifer Clancy, marketing manager at ID Wholesaler, sat down with the online publication Virtual-Strategy to discuss her company's efforts, which consisted of three badge accessory design contests, which paid winning entries. This got customers' creative juices flowing and it also sparked conversations between the company and potential clients.
"We reach out to the online community - however, like many B2B businesses, our products aren't typically shared socially online," Clancy said. "We wanted to do something that would create buzz and get people talking online. "What better way to do that than with a little healthy competition!"
Campaigns like this can generate a lot of business, but that doesn't mean companies accepting B2B payments can afford to forego best practices when it comes to processing invoices and transactions. Accounts payable best practices includes a streamlining of invoice processing, which could become more challenging when businesses improves as a result of successful campaigns.
Moreover, as transactions pile up, it's crucial for organizations to optimize the value of each one. This can be done by processing level 3 data with line item detail.
Ultimately, B2B providers are not adverse to innovative strategies to engage customers and increase business, but they must be prepared to handle increased payment processing.
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