As online purchasing increases in popularity, it has benefited B2B eCommerce for distributors by making it more straightforward to contact an expanding number of online B2B buyers. According to Google, B2B buyers want to be able to see and purchase things at any time of day or night, not just during business hours, and from any location, including their homes.
B2B distributors may benefit from using on-premise and SaaS solutions to provide their clients with sophisticated, tailored online buying experiences. If you want to expand sales, penetrate new markets, get new clients, or improve internal efficiency with advanced automation features, you’ll need a versatile and trustworthy B2B e-commerce platform.
Shoppers are more likely to utilize search engines and social media to find out more about your items than they are to visit your website. Individuals would like not to talk with a salesperson while placing orders online, which would be ideal. According to a recent study, modern B2B customers conduct an average of 12 web-based research sessions before making a purchasing decision.
In this book, you’ll learn how to recognize and overcome the most significant difficulties and approaches for growing your B2B business and avoiding falling behind your competitors as they make the shift to e-commerce.
For distributors, business-to-business e-commerce offers several advantages.
B2B trading is undergoing a significant transformation. It is estimated that the sector would expand to $6.7 trillion in gross merchandise value by the end of 2020, more than doubling the size of the business-to-consumer (B2C) market. This is a terrific opportunity to learn something new.
According to a recent study by Merit Research, Millennials account for 73 percent of B2B customers today. The study’s findings show that 44 percent of millennials make buying decisions, and 33 percent claim to be critical influencers or recommenders during the shopping process. According to millennials, companies that offer unique shopping experiences are more likely than others to earn their loyalty.
Why does this matter? When it comes to B2B transactions, millennials have the exact expectations as they have when it comes to consumer-to-business sales. Demos, meetings, and sales calls may or may not be able to stimulate their interest in some cases. They are seeking a quick and straightforward method of researching, evaluating, and purchasing the things they are interested in and align with their needs.
The potential for growth for distributors is enormous if they can develop a successful online sales platform. Because of the large number of potential customers and the simplicity they may be contacted, B2B distributors have a tremendous opportunity to expand their reach outside traditional sales channels. Self-service is preferred by 40% of B2B clients, and distributors may save money on operating costs by making this option available online to their customers.
Offer your consumers unique services if you want to see your business flourish
Every business-to-business organization that wishes to increase the number of paying clients must customize the purchasing experience. In the case of B2B e-commerce wholesalers, the same may be true.
In comparison to other platforms, the right e-commerce B2B platform for distributors offers more incredible customization options and unique B2B capabilities, allowing you to build relationships more effectively with your online clients. In addition, creating appropriate online product catalogs, establishing client-specific pricing, and designing customized customer procedures are all ways to ensure that your clients have the most significant possible experience.
The usage of mobile technology enhances B2B distributor sales
According to Google and the Boston Consulting Group, mobile has a significant impact on more than 40% of sales in top B2B firms. With mobile devices accounting for 70% of all B2B search queries, online warehousing and e-commerce for distributors are positioned to benefit from this trend.
Look for an e-commerce platform featuring fully responsive themes, allowing users to access and utilize the program from any device, including mobile, desktop, and tablet computers. Customers may also place orders using mobile applications, which are made possible by the platform’s versatility in accommodating a variety of ordering methods.
You can also deliver outstanding customer service if you have a CRM system attached.
Offering good customer service is a significant source of pride for e-commerce B2B distribution companies. For instance, find a platform that offers a comprehensive customer relationship management solution that enables teams engaging with customers to quickly keep track of interactions, reply to support questions, and manage accounts.
The ability to communicate effectively with your stakeholders is essential, regardless of the sort of business you are in. Having a consolidated view of your marketing, sales, and customer service data may assist you in developing long-term relationships with your customers.
There are several difficulties distributors may encounter
Although there is a plethora of data to assist the wholesale move to the Internet. Yet, distributors have been unable to keep up with the demand for digital shopping experiences from customers. What are the roadblocks to their professional advancement? Continue reading to learn more.
The complexities of B2B trading
They believe that e-commerce is not a viable alternative for B2B firms because of the broad and diverse customer base they serve. The following are some of the most often voiced concerns and objections:
- Pricing for long-term contracts
- Clients who are required to adhere to a set of rules and regulations for compliance
- Finding finest and the brightest in the industry
- Ensuring there are a variety of payment and delivery options available
Even while these are crucial subjects to discuss with your e-commerce technology supplier, they should not hinder your company’s expansion. If you have the right e-commerce solution, you should have no trouble overcoming these challenges.
Purchases that are made within the organization
Although B2B clients have expectations comparable to those of B2C purchasers, they do not purchase in the same way.
B2B service providers must meet the following technology standards:
- A punch-out solution is required in combination with the buyer’s procurement application or enterprise resource planning system
- Demands for payment on purchase orders
- Obtaining internal administration approval before placing orders
An e-commerce platform may be able to manage all of these different purchase scenarios. Yes, to put it briefly. The quick answer is that it depends on the platform and the number of connectors made available to the user. As a result, it’s crucial to implement a platform that may be used by businesses that serve B2B and B2C customers to provide multiple pricing lists or catalogs to different customer groups.