Webinar ib_supply - Dec' 2016
Transcript of Webinar ib_supply - Dec' 2016
[WEBINAR] Winning in B2B e-commerce: How ibSupply grew Site Search revenue by 40%
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Monal PatelSVP & CBO, Unbxd
Harley ThomasSr. Director, Corporate & Digital
Marketing, ibSUPPLY.COM
GUEST SPEAKER PRESENTER
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MEET TODAY’S SPEAKERS
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Harley H. Thomas is a Senior Director of Corporate and Digital marketing at ibSupply. An award-winning, customer-centered marketing executive, Harley lends his strategic expertise to drive business development and marketing communication functions that increases brand awareness and ensures revenue growth. He is also the host for ibSupply’s Blind Living Radio Podcast and has over 25 years of experience in the e-commerce and retail industry.
Harley Thomas - Sr. Director, Corporate & Digital Marketing - ibSupply.com
MEET TODAY’S SPEAKERS
At Unbxd, Monal helps eCommerce companies solve their product discovery problems and create growth by providing new and improved approaches to decision making. Monal has 15+ years of experience in the software & retail industry and is a seasoned speaker at major eCommerce events like Etail West, MivaCon, Fashion Digital, Etail East, etc. Monal holds a Masters degree in Engineering from the University of Southern California.
Monal Patel - SVP & CBO UNBXD Inc.
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ABOUT UNBXDLEADING PRODUCT DISCOVERY PLATFORM FOR ECOMMERCE
1200+ eTail customers in over 40 countries. 400+ eTail customers in US.Over 1.5 Billion Interactions/Month
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CUSTOM
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On ibSupply and site search The higher stakes of B2B site search Unbxd’s Site Search solution Evaluating and choosing a site search technology partner Meeting consumer expectations in the B2B world
AGENDA
Leading office and industrial supplies online retailer operated by ibMilwaukee, which was founded in 1952.
$100M revenue. Over 13 stores across different parts of the USA
Significant portion of repeat customers are from the US Government and Military
Launched online store (earlier BaseSupply.com) in 2001
ABOUT ibSUPPLY
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Why did investing in site search become so important?
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B2B SITE SEARCH HASHIGHER STAKES
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Our customers are buyers not shoppers
Extremely high lost opportunity cost
Essential to engage potential buyers
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THE GOAL Delivering a robust search experience at scale, specifically for B2B buyers
What are the key changes that improved site search experience on ibSupply.com?
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THE SOLUTION
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DELIVERING THE BEST B2B SITE SEARCH EXPERIENCE ON ibSUPPLY.COM
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Addressing Unique B2B Buyer Behavior
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OPTIMIZING THE SEARCH EXPERIENCE FOR REPEAT BUYERS
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Problem: Part number searches not supported by standard search platforms
What we did with Unbxd: Supporting part number searches with Intelligent Visual Autocomplete
Accomodating multiple errors and variations common with part number searches
Reducing the buyer’s path to purchase with Intelligent Visual Autocomplete
Part Number Search
ENABLING EASIER DECISION MAKING FOR B2B BUYERS
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Problem: Numerous product choices with only slight variation in specifications
What we did with Unbxd: Helping buyers make informed decisions with relevant and dynamic facets and filters Assisting buyers in identifying
important comparison parameters Reaching the right products faster
with easy drill down
Customized Filters for the Searched Query
An End-to-End Superior Site Search Experience at Scale
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AN END-TO-END SUPERIOR SEARCH EXPERIENCE AT SCALE
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Connecting buyers to the right products
Helping buyers reach these products faster Seamless search experience at scale
HOW UNBXD’S TECHNOLOGYWORKS
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ENHANCING PRODUCT DATA TO IMPROVE SEARCH RELEVANCE
Examples of Crucial Meta Data in Product Descriptions
Product data now made searchable: Thickness property type : Thin Visual property type : Transparent Weight type : Lightweight
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MACHINE LEARNING ALGORITHMS MATCH SEARCH QUERY TO SHOPPER INTENT
Shopper searches for “Logitech Black Wireless Keyboard”
Stage 1: Query gets split into Logitech ‘Black’ ‘wireless’ ‘Keyboard’
Logitech ‘Black’ ‘wireless’ ‘Keyboard’Stage 2: Processing & Data Enrichment
Keyboard : Product TypeBlack : Color AttributeWireless : Product AttributeLogitech : Product Brand
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UNDERSTAND SHOPPER INTENT BY LEVERAGING DIFFERENT QUERY PARAMETERS
Query Spectrum
Exact Search Product Type Symptom Non Product Search
Query Qualifier
Feature
Thematic
Relational
Compatibility
SubjectiveQuery Structure
Slang, Abbreviation & Symbol Search – ‘MTB’ for “Mountain bikes” Implicit – Search for “brown tops” when in “women’s” category Natural Language – “Women’s Dresses for Office”
– “Kitchenaid mixer”– “Women’s Tshirt”– “Diabetes”– “Free shipping”
– “Black dresses”– “Party tops”– “Michael Kors Miranda collection”– “Moto X case”– “High quality speakers”
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UNBXD’S MACHINE LEARNING ENGINE CONSTANTLY SELF-LEARNS AND OPTIMIZES YOUR SEARCH
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ELIMINATE ZERO RESULT PAGES WITH AUTOMATED, MULTI-WORD SPELL CHECK CORRECTION
Unbxd : A Successful Technology Partner For ibSupply.Com
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RESULTS: B2B SITE SEARCH DIRECTLY DRIVES REVENUE GROWTH AT SCALE
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“I don’t look at Unbxd as just a technology platform. It’s a partnership to develop my
business, which ultimately means we’re meeting our customer’s needs better and
faster. This partnership helps us focus on our core business.” – Harley Thomas
40% INCREASE IN TOTAL REVENUE FROM SITE SEARCH
35% INCREASE IN REVENUE PERSEARCH SESSION
22% INCREASE IN SEARCH CONVERSION RATE
11% INCREASE IN AVERAGEORDERVALUE
POLL
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What made you choose Unbxd?
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MANAGING SITE SEARCH INTERNALLY: NOT FEASIBLE ANYMORE
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We realized working on SOLR would require:
Extensive manual configurations on an ongoing basis
Involvement of a full-time dedicated resource
Months of programming and still we might not be able to deliver the expected search experience
WHY UNBXD STOOD OUT DURING THE EVALUATION PROCESS
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Superior technology solution
Strong engineering-focused sales team
Added great value to our B2B business with consultative, solution-oriented approach
Experience Before and After Unbxd
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INFLUENCING PRODUCT RANKINGS IN SEARCH RESULTS TO MEET BUSINESS GOALS
Easily set up Boost/Bury rules based on product parameters
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AUTOMATICALLY REDIRECT SEARCH QUERIES TO YOUR CATEGORY PAGES
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ACTIONABLE INSIGHTS TO CONSTANTLY OPTIMIZE FOR USABILITY AND REVENUE GROWTH
Clear overview of how search is impacting your topline
growth
Drill-down to spot missed opportunities at each stage of
the conversion funnel
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DEDICATED CUSTOMER SUCCESS TEAM
Pro-active involvement to help us achieve the desired outcome
Quick response time
MEETING CONSUMER EXPECTATIONS IN THE B2B WORLD
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GIVE THEM WHAT THEY WANT
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60% B2B buyers said they’d like better site search on suppliers’ e-commerce sites
GIVE THEM WHAT THEY WANT
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83% B2B buyers like to research products on sellers’ websites (Google being their second choice)
QUESTIONS?
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THANK YOU!MONAL [email protected]
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