The benefits of B2B eCommerce
B2B eCommerce services can revolutionize the way companies conduct business.
As B2B sales are shifting from traditional channels that are outbound to online platforms, businesses need to react to meet customers’ needs and remain competitive in the market.
Alongside giving your customers the ability to purchase your items online B2B eCommerce solutions bring numerous advantages to businesses, allowing them to increase sales, boost efficiency, and connect with new markets and customers.
Here are the main advantages of a specialized and customised Software for B2B eCommerce:
1. Make use of a vast and expanding market
The B2B eCommerce market is massive. It’s double the size of the B2C market. Within the US alone, it’s estimated to hit $1.8 trillion in 2023. Customers are now finding the selling online easier than purchasing from an agent, which is what they did in the past.
This is a huge chance for companies.
2. Get to more buyers
The way that buyers purchase is evolving. Buyers are looking to search and purchase online. According to the Merit B2B report, millennials are taking on more the role of decision makers within their organizations and are expecting to purchase online. This is a major reason B2B eCommerce is increasing at such a rapid pace.
B2B eCommerce software from OrderCentral is a highly effective method to attract new customers, increasing your online presence , and as a it happens, helps potential customers find you through search engines.
3. Reach new markets
Alongside bringing in additional customers within your current market, B2B eCommerce solutions can help you reach new markets.
If you bring the B2B channel for sales on the internet, your sales activities are not limited on the schedule of sales staff. The sales channels you have online are available 24 hours per day, seven days 7 days of the year. This makes it easy for customers from diverse countries as well as time zones purchase your products.
4. Sales increase
B2B eCommerce software not only allows you to expand your audience and draw more customers, but it can aid in maximizing sales by using automated programs to up-sell and cross-sell. Large wholesalers who use the B2B eCommerce solution, for instance experienced an average sales growth by 10.5 percent.
The programs can provide relevant suggestions, or to encourage customers to purchase more related items, or to upgrade the products they are interested in to ones that have higher specifications. They can also offer customised promotions and include price maps so that the most savvy customers can see the correct prices at the right date.
5. Improve efficiency
The B2B eCommerce software is able to be integrated into your ERP to get rid of paper-based processes as well as decrease the time and resources needed to manage your business. Integration with your ERP will allow your ERP to provide you with the most accurate the sales figures of your customers including sales, totals of orders discount percentages, profit percentages and more.
Furthermore you can also connect your customer’s procurement systems to attract new customers and boost customer retention.
Furthermore, since customers can place orders online, your customer support team can concentrate on primary customer service instead of taking orders.
6. Faster delivery
B2B eCommerce solutions don’t just improve the process of selling efficient for the seller but they also improve the efficiency of the buying process for buyers.
Instead of being required to manage and track manually inventory and orders, an online system that is synchronised lets brands sync their data across all channels, automate fulfillment or inventory changes, and manage complicated orders. This will result in speedy efficient, precise and transparent delivery, and ultimately, happy customers.
7. Reduce the cost
Another advantage that comes with B2B eCommerce program is its ability to reduce expenses while increasing revenue.
Through bringing all of your commercial operations online, the software can save time and money in areas like ordering as well as customer service and transmission of customer information.
Processes that are automated and streamline improves efficiency and cuts unnecessary costs.
8. Stay on top of the game
With B2B customers increasingly shifting channels to purchase online, if you fail to maintain such a service, you could risk being out of the game. When eCommerce sales become more commonplace then we’ll customers will not calling, emailing, or visiting . They will be looking to shop online for everything to increase efficiency and reduce expenses. If you do not provide an efficient B2B eCommerce platform you could lose your client base and risk being out of step with your competition.
9. Enhance analytics
Data is the most important aspect in B2B sales. eCommerce platforms let businesses gather, analyze and quantify essential data much more quickly such as sales metrics, customer engagement mix, inventory turnovers and many more.
Through integrating analytics into your ERP, you’ll be able to gain valuable data and useful insights that can take your understanding of customers to a new level.
With the assistance of a reliable B2B eCommerce solution your company can grow and expand in response to the market’s demands.