. A B2B transaction is made between two companies, such as wholesalers and online retailers. With expectations for digital experiences at an all-time high, here are 10 important benefits of launching and maintaining a complete B2B e-commerce website for your organization. A McKinsey report states that the effects of the COVID-19 pandemic have caused a permanent digital transformation in the B2B market.
Data shows that 80% of B2B buyers don't plan to sell in person again even after the pandemic. While the expectations of B2B shoppers have been affected by the experiences they are used to in their personal shopping lives, B2B and B2C e-commerce have important distinctions that companies must understand if they are to succeed. B2C e-commerce is based on maximizing sales. While business-to-business e-commerce generates revenue, it's also about allowing your team and customers to be more efficient.
Business-to-business e-commerce websites offer a way for your customers to buy your products online and a host of other benefits for your organization. Imagine that your customers, dealers or distributors see their orders online and offline in one place, manage their orders, budgets, see their prices and promotions available through an online experience. In addition, with the integration of a specially designed B2B e-commerce digital experience platform, companies can maximize efficiency, increase sales and improve customer experience. An effective B2B e-commerce digital experience platform will allow your organization to easily grow and scale to meet market demand and customer needs, opening up new sales channels and continuously reaching new market segments.
By creating and testing engaging content for your target B2B buyers, you can deliver value and respond quickly to changes in the market. In addition, by adopting scalable B2B e-commerce cloud solutions, you can renew your existing technology and significantly improve your marketing and marketing capabilities. By integrating with enterprise resource planning (ERP) and other underlying business systems, e-commerce provides remarkable efficiency to B2B organizations. Since customers can place orders online when it's most convenient for them, companies can focus on actual customer service functions instead of simply taking orders.
A B2B e-commerce site with public-facing catalog pages is a powerful tool for reaching new B2B customers. Your future buyers don't just prefer to shop online, but they'll also demand it. As B2B buyers connect to the Internet to compare products and find the best prices, manufacturers and distributors can harness the power of search engines to connect with them. By developing a responsive B2B e-commerce site with rich SEO-friendly content, you can locate new visitors and convert them into customers.
A B2B e-commerce platform provides your company with an online presence, giving you control over your brand. While other external b2b market channels can generate additional brand recognition benefits, your brand's e-commerce website is the primary marketing tool for sustained online presence and visibility. A B2B e-commerce site not only helps you reach new customers, but it also allows you to easily implement an automated cross-sell and upsell recommendation program. With this, you can increase sales by offering relevant suggestions to customers on the site and encouraging them to buy related items or items with more features and functionalities.
A well-designed e-commerce platform provides the right information to your customers, making the ordering process easier. Not only does this increase sales, but it also improves average order values. B2B e-commerce provides a perfect platform for organizations to launch comprehensive analysis campaigns. Through e-commerce, organizations can easily measure and evaluate marketing campaigns, sales effectiveness, product combination, inventory changes, customer sales effectiveness, and customer engagement.
Google Analytics offers e-commerce tracking, but integrating analytics with your ERP also gives you much more valuable data with actionable information. While there is no doubt that there are differences in the experiences of retail shoppers and B2B buyers, B2B organizations still need to employ intuitive design, rich content and interactive functionality on their websites, such as product recommendations and trends based on previous searches, products based on holidays or topics, and easy access to previous orders, account settings, profile and wish lists. Your physical sales team will also benefit from the launch of a comprehensive e-commerce initiative. A B2B e-commerce site or portal will improve your sales teams' visibility of customer orders, pricing, and history while traveling or working remotely.
While we recognize that current buying trends are mostly non-linear, it's important to provide an omnichannel experience to your customers with a B2B e-commerce platform. Typically, B2B shoppers move from device to device and across multiple platforms as they search for the products they need. Launching co-branded or channel-specific e-commerce sites is easy with the right B2B e-commerce platform. This capability allows you to offer co-branded websites or microsites for each of your key distributors or customers, as well as sites that target a specific international audience by presenting content in alternative languages or currencies.
Using the right B2B e-commerce platform is the key to improving customer experience and increasing sales. Optimizely's DXP is a centralized and scalable B2B e-commerce platform that allows companies to create and optimize e-commerce operations at multiple digital touchpoints. The platform is a combination of content cloud, commerce cloud and intelligent cloud solutions. B2B e-commerce solutions can transform the way companies do business.
As B2B sales increasingly move from traditional outbound channels to inbound online platforms, companies must respond to meet customer expectations and remain competitive in the market. The way shoppers buy is changing. Shoppers want to be able to research and buy online. This is part of the reason why B2B e-commerce is growing so fast.
B2B e-commerce software is an incredibly effective way to reach new customers, strengthen your online presence and, as a result, help potential new customers find you through search engines. In addition to reaching more customers in your current markets, B2B e-commerce solutions will allow you to reach new markets. When you publish your B2B sales channel online, your sales activity is no longer dictated by the availability of your sales team. Your online sales channels are available 24 hours a day, 7 days a week, 365 days a year.
This makes it much easier for customers from different markets and time zones to buy your products. B2B e-commerce software will not only allow you to reach a wider customer base and attract more buyers, but it will also help maximize sales by implementing automated cross-selling and upselling programs. A large wholesaler that used our B2B e-commerce solution, for example, experienced an average sales increase of 10.5 percent. B2B e-commerce solutions not only make the sales process more efficient for the seller, but they also speed up the process for buyers.
Another advantage of B2B e-commerce software is the potential to minimize costs while increasing revenues. Since B2B customers are increasingly switching channels to buy online, if you don't keep up to date and offer this service, you run the risk of being left behind. As e-commerce sales become the norm, we'll in turn see shoppers stop calling, emailing, and visiting; they'll want to do everything they can online to improve efficiency and reduce costs. If you don't offer an effective B2B e-commerce service, you run the risk of losing your customer base and being left behind by your competitors.
E-commerce platforms make it much easier for companies to acquire, analyze, and measure basic data, including customer engagement metrics, sales, product combinations, inventory shifts, and more. With the help of an effective B2B e-commerce solution, your company will be able to grow and scale in response to market demand. TrueCommerce offers an intuitive B2B e-commerce platform that has been specifically designed in response to the complexities and specialties of B2B e-commerce. The TrueCommerce B2B platform is used in many sectors, including clothing, food, electronics and industry, to drive increased sales, greater profitability and better customer service.
Claire Gibbons is marketing director at TrueCommerce. With more than 15 years of experience in the IT industry, Claire's specializes in market analysis, supply chain strategy and educational items. Claire works in our Coventry office. Business-to-business sales usually involve more expensive or technologically more advanced products.
Business-to-business customers order more products and spend more money than retail customers. This means that business-to-business sales have the potential to generate more money than business-to-person sales. Business-to-business sellers need fewer customers than retailers because of the amount of money a single business customer can generate. This means business-to-business salespeople can focus more efforts on each business customer.
The most powerful advantage of B2B e-commerce software is that it makes it possible to streamline and automate time-consuming processes. It also provides unique information about the data that is important to your sales and marketing operations. This is especially true if you integrate your B2B e-commerce platform with your ERP system. B2B commerce can reach a wider market, exclusive to the existing market.
This is because B2B models can sell to both consumers and resellers. It is also possible to sell to both online and direct customers, thus increasing your market. Business-to-business (B2B), also called B to B, is a form of transaction between companies, such as one involving a manufacturer and a wholesaler, or a wholesaler and a retailer. Enterprise resource planning (ERP) is a trend in B2B commerce that has led to efficiency in a company's operations.