The B2B ecommerce landscape has experienced exponential growth in a short period of time. This has only led to higher expectations among buyers. Understanding the B2B ecommerce system and its significance is crucial to ensure its smooth adoption.
According to a survey conducted in 2018, it was found that about 48 percent of companies conduct around 50 to 74 percent of all their corporate purchases over the internet. The remaining 25 percent of the companies do some form of purchases online. This should be reason enough to be interested in the B2B ecommerce system and what it has to offer.
What Is B2B Ecommerce?
The first thing that you need to understand better is B2B ecommerce. B2B ecommerce stands for business-to-business electronic commerce. In the simplest of words, it refers to online transactions between businesses. As orders are digitally processed, purchasing efficiency is improved considerably for manufacturers, wholesalers, and distributors.
Benefits of Using a B2B Ecommerce Platform
When you use a B2B ecommerce system, you get to enjoy a ton of benefits as mentioned below.
- Reach New Customers
One of the main advantages of using a B2B ecommerce platform is that it allows you to reach out to new customers. Public-facing catalog pages can help you reach new B2B customers in no time. Going online helps ensure that you utilize digital marketing strategies for increasing your reach. Not only do future buyers prefer shopping online, they demand it and if you fail to provide them the convenience, they would simply look elsewhere. Besides, making online purchases is a lot more efficient and allows for repeat purchases.
- Improved Suppliers and Customers Management
A great thing about the B2B ecommerce ecosystem is that the concept is based on better management of suppliers and customers. When you go digital, you get to utilize business management software for gaining valuable insights such as how customers shop. Thus, you can use the information gathered for providing a better and more personalized experience.
- Sell More to Your Existing Customers
By using a B2B ecommerce system, you can expect to sell more to your existing clients. Take advantage of the automated cross-sell and up-sell recommendation program to offer a personalized experience. You would get to help them find products that they desire. It would be similar to an in-person sales associate.
- Better Data Analytics
Organizations will find the B2B ecommerce platform to be extremely useful. It would allow them to launch comprehensive analytics campaigns for making better business decisions. The feature is offered by just about every B2B ecommerce platform. Hence, you can use in-depth analysis for increased sales and more. Generate various types of reports for understanding your customers better.
Types of B2B Ecommerce
The following types of B2B ecommerce platforms are available.
- B2B2C (Business-To-Business-To-Consumer): It acts as the middleman between the B2B organization and the B2C.
- Wholesale: With wholesale ecommerce, you get to use a B2B ecommerce platform that allows you to sell goods in bulk.
- Manufacturers: Since manufacturers produce finished goods by utilizing raw materials and parts along with machines and labor, the B2B model enables manufacturers to sell finished goods to wholesalers.
Since ecommerce is the future of B2B sales, it is important to turn to Agora. You can head on the website to learn more about how it can help you get started with B2B ecommerce.