When a vendor embraces the online sales and marketing environment and truly succeeds with this initiative, it can really take off as an organization.
Suppose a company spent most of its time selling out of a brick-and-mortar facility or conducting business sales over the phone. It would have to rely on word-of-mouth and other traditional marketing strategies, which can be difficult in an increasingly online community.
When a vendor is able to successfully adopt the principles of online interaction with customers, succeeds in building a web presence with the use of content marketing and implements an eCommerce solution to conduct sales over the web, the influx of new business can take an organization to places it may have never dreamed it would go.
Unfortunately, with new business comes new challenges. In the digital information age, we have come to expect instant gratification in all areas of our lives. Customers who buy online will expect that too, which puts pressure on vendors to meet a demand that didn't exist before they increased their sales outreach.
After obtaining a large online following, vendors could suddenly encounter customers looking for a more efficient transaction processing and a more secure way to protect their information. By entering the world of online sales, these expectations will have to be met. If not, a vendor's entire operation could suffer.
This concept can apply to virtually any type of seller, starting with the biggest B2B suppliers in the world, all the way down to an individual starting an eBay or Amazon account. Hernan Moyano is an Amazon user that used the site to facilitate business for his jewelry company. He gained more exposure online and suddenly had a bevy of new orders to fulfill. He understood the importance of satisfying each and every customer, because the rewards for doing so were huge and the repercussions for failing in that effort were severe.
Speaking with the online publication News Observer, he stated that he used his potential rewards as motivation to provide the best in online customer satisfaction.
"The more you sell the more exposure you get," he said. "The better reviews you get, the more sales you get."
Let's apply this idea to the business sales process. While vendors will likely rely on their own sites and eCommerce solutions to fulfill orders and process B2B payments, the concept is still the same. Because customers have come to expect a certain level of service, vendors that provide products and services to other companies must ensure they can at least meet this expectation. If it is exceeded, the vendor will likely see even greater benefits.
Payment tokenization is one solution vendors can use to exceeded their customers' expectations. The digitization of information has increased security risks because hackers tend to evolve with technology. Vendors are typically the ones that suffer when a breach occurs, but they shouldn't allow that concern to limit their customer service efforts. If customers want to buy and pay online, vendors need to make sure they can let them.
Payment tokenization allows merchants to keep data offsite and protected from targeted attacks. This can help improve the quality of service, because vendors will remove the burden of information security risks falling on them. This gives vendors the ability to offer the eCommerce features their customers want, such as one click checkout.