B2B eCommerce consists of transactions between businesses via a website or a mobile app, oftentimes in which the purchase decision is significantly influenced by product research, reviews, and ratings.
B2B eCommerce, when compared to the B2C industry, is projected to be two times bigger than B2C in 2020. In fact, it’s anticipated to be the area of the largest eCommerce growth from 2020 to 2025.
It’s high time that you start or move towards B2B eCommerce business, reach more people, get new customers and boost your profits exponentially
Let’s look at the 9 massive benefits offered by B2B eCommerce:
Your organization can easily open new sales channels and continuously reach new market segments with an effective eCommerce solution. You will see a massive difference in your company’s profits and growth potential.
- Enhanced Efficiencies:
Integrating ERP (Enterprise Resource Planning) and other back-end business systems can help in improving the efficiencies of B2B organizations. Customers can place an order anytime; instead of simply tracking orders, customer service can primarily focus on actual customer service functions, and the need to rekey data in an independent system is removed, which eliminates the possibility of errors. Thus overall, you will see enhancements throughout the internal supply chain.
- New Customers:
One of the most powerful ways to reach new B2B customers is through catalog pages. A B2B buyer visits an eCommerce site to find the best prices, manufacturers, and distributors. This way, they are ready to index pages of their site to find new visitors and convert them into customers.
- Increased sales:
eCommerce solution will allow you to implement the up-sell and cross-sell program for the customers quickly. Your customers will also get suggestions for related products or products with more features and functionality, which can encourage them to buy those products.
Organizations can launch an analytics campaign through their B2B eCommerce sites. With the help of eCommerce, any business can easily measure and evaluate marketing campaigns, customer sales effectiveness, inventory turns, and product mix. Google Analytics offers eCommerce tracking, and when you integrate it with your ERP, you get more valuable data actionable insights.
- Exceptional customer service:
B2B organization has an exceptional opportunity to improve its customer service through eCommerce. Customers can access their self-serve portals on the eCommerce site, which has their account details, order history, and tracking information. With the help of an integrated ERP and based on customer login credentials, a robust eCommerce site can showcase customer-specific products, services, and pricing.
- Improved sales engagement:
A comprehensive eCommerce site can benefit your physical sales team. Even while working remotely or on the road, you can improve your sales teams’ visibility into customer orders, pricing, and history.
- Lower Your Costs:
You can grow your revenue while reducing your costs. Yes, you read the right. B2B eCommerce can make it happen. Through automation and streamline, you can cut down the undue expenditure because entire work is done online like order entry, client information provisions, and customer service, which eradicated chances of errors.
- Changing Online habits of Millennial:
Today, millennials are the new buyers, and B2B sellers should focus on them. Their shopping pattern keeps changing, so B2B sellers need to be on the platform where they are, and that is online. It’s no secret that the B2B audience is everywhere. In fact, 89% of B2B researchers browse the internet for their B2B research process.
eCommerce has become the most integral part of the B2B industry. B2B buyers are more interested in buying online, and selling online helps you to offer the buying experience that they are looking for. Now, it’s time for you to get ahead of the curve by developing your ideal B2B eCommerce site.
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