Top 5 reasons why your B2B Business Needs an Ecommerce Website.
What is B2B eCommerce?
B2B eCommerce refers to online order transactions between two businesses. Orders are processed digitally, buying efficiency is improved for wholesalers, manufacturers, distributors and other types of B2B sellers.
Types of B2B eCommerce are:
- Going wholesale from being customer focused
It was not long before that B2B relationships existed on a face-to-face with more of personal interaction rather than online. Before the advent of eCommerce and digital marketing all businesses were based on a personal level with the customer. While this type of B2B relationship still exists, more companies are looking to eCommerce solutions to increase the ease and transparency when transacting with other businesses or customers.
According to a study, B2B eCommerce growth shows an upsurge since 2015. The report also suggests that these numbers will continue to climb. With growing numbers like these, it may be time for you to consider building an eCommerce-enabled website to catch the wave of this digital transformation in B2B commerce. It is advisable to keep up the pace according to the times. Adapting to changes in the market will help your business sustain and be ahead in the market scenario.
I agree it may be overwhelming and intimidating for business owners to find the right time and connection to jump onto the eCommerce setup. The comfort and security of a successful offline operation keeps many potential entrants out of the B2B eCommerce marketplace. The thought of venturing out into a new game is always threatening. But the challenge here is to come out of the comfort zone and jump into the trends of the latest market. An eCommerce offering can make your business easier to discover and more accessible to a broader pool of potential customers.
So, why create boundaries or limitations for your business when spreading out your reach can be easily accessed within the comfort of your home or office.
Here are 5 reasons that your business needs to launch eCommerce capabilities.
1. Makes repeat orders easier and seamless
.As a preferred supplier of your current B2B customers, you’ve earned their repeat business and can count on their sales to generate income. With an online presence, why not make it easier and more seamless for them to buy from you without having to go through the same procedures each time?
An eCommerce platform allows repeat customers to automatically purchase and re-purchase your products and services speedily, without an extra step of getting in touch with a representative. This saves time for you and your customers.
2. Beats the competitors
In all probability your biggest competitors are already on the online trend, keeping you way behind in the race. Indeed, B2B buyers are increasingly more comfortable with purchasing their products and services online. And as more “digital natives” move into roles where they are making B2B purchase decisions, B2B online shopping will become more commonplace. It is a guarantee that your eCommerce B2B website is a surefire way to future-proof your business.
3. Data Will Help You create a differentiator
In the times of clutter, finding a differentiator is a challenge. A new and/or improved eCommerce-enabled website can help you find new opportunities or customers easily. When you create a comprehensive B2B website, you are providing your customers with a more convenient way to research and purchase products. In return, you get a plethora of data about their preferences, what types of information leads them to buy, and more. This information can then be used to guide your marketing strategy for new business, and it can help you streamline and perfect your customer experience so that you are meeting the needs of these B2B buyers.
For example, if you attach a robust analytics feature to your B2B eCommerce website, you can compile data to help you understand how your customers behave online, and catalog what their unique needs are. This will help you understand the needs of the customer and therefore create a unique, customised product. The saturated business market that you find yourself in may begin to thin out, since you can gain a competitive advantage through your data.
4. Heightened Customers Expectations
The concept of B2B ecommerce offers better management of both the suppliers and customers. Going digital means you can leverage software solutions for ecommerce business management. This will show you data about how your customers shop.
You’ll be able to use this information to create better, more personalized shopping experiences for your customers. Essentially, the whole initiative is a win-win for both parties.
Transforming your business through B2B eCommerce and digital marketing will offer your more digitally-minded customers the same type of transactions they are used to in their B2C purchases, while providing them with B2B products and services.
5. Upgrading your website
Technology never ceases to innovate. Many older B2B websites are not equipped to handle the latest requirements .Regardless of your product offerings, potential customers might pass over your business for another if your website is outdated, lacks functionality and/or mobile-enabled.
While some of these older websites were the backbone of initial B2B processes, many are now challenging to navigate, full of cumbersome forms, and are more hassling. The cost of trying to keep these types of B2B sites up and running in today’s market far outweighs the price for creating a new eCommerce website platform. Other challenges with older sites are that they aren’t typically mobile-enabled, and they cannot support emerging touch points such as chatbots and 360-video, for example. By creating a latest eCommerce website you will be at par with the latest trends of online business.
The common belief that online ordering is cold.
One of the best ways to make sure a customer doesn’t go to a competitor is by building a long-term, personal relationship with them. This is why so many B2B businesses are family-owned and operated by owners themselves. There’s a personal touch to being one of the family.
Whereas an online store can seem cold in comparison, but it doesn’t have to be. Especially now that Millennials are at the forefront of many B2B buying decisions, buyers are looking for a streamlined digital purchasing experience.
With 24/7 chat technology that can turn an online chat on your store into a text on your phone, the new generation can communicate efficiently and effectively in their preferred communication channel: text, Facebook /Instagram messenger or a variety of other options.
In fact, this type of customer service is not only easy to set up, it is highly desired by customers across the board.
Increasing your speed to respond to a customer is today’s version of quality, face-to-face interactions.
What are you still waiting for? It is time to make the plunge and delve into the nuances of the market and explore new ways to expand your business.
It is time to move your business into the B2B eCommerce marketplace. Holding back could hold your company back from experiencing an entirely new group of potential buyers and stagnating business growth. Offline businesses may begin to lose their competitive advantage as they continue to rely on older methods, while new entrants and competitors fly past them with more innovative technology and eCommerce platforms. It is time to embrace the change and dive headfirst into B2B eCommerce. Expand smERP is India’s best fit solution for your eCommerce needs.
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