| 6 ADVANTAGES OF B2B E-COMMERCE - NEW SELLERS NEED TO KNOW! | Assalamualaikum and hi hi hi everything. Since the advent of B2B in the industry, essential business activities have been carried out by external parties instead of using internal staff. Within the business-to-business model, businesses and organizations exchange goods and services. Hence, one business may contract with another to provide the raw materials needed to manufacture a product or vice-versa.
Just so that everyone knows, B2B is not the only business model involved in the supply chain. While B2B companies sell products and services to other private companies, public sector organizations, and charities, B2C (business-to-consumer) or DTC (direct to consumer) companies sell products and direct-to-consumer services. Moving forward, consumers are an essential part of B2B business collaboration even though they are not a direct actor in B2B transactions.
NO CUSTOMER, NO BUSINESS!
Businesses are adopting online shopping, especially after the global pandemic broke out. The thought of running a business-to-business (B2B) e-commerce business can be considered overwhelming. We can see many organizations starting to establish their presence on the World Wide Web. It's a tight competition, indeed. However, if you continue to learn, act, and add value to your customers, you are bound to see growth in your B2B initiatives.
OVERVIEW OF B2B E-COMMERCE
B2B e-commerce business model is the activity of buying, selling and exchanging products between businesses through online sales channels. These channels can come from a free or even paid platform. It focuses on delivering goods and services from one business to another. Since the parties are all business entities, B2B e-commerce transactions are sensible, need-based, and thoughtful rather than impulsive. They are often associated with long-term benefits.
With a B2B business model, product prices are more flexible, order volumes are larger, and deliveries are more complex. Often included in this niche are software as a service (SaaS) companies, document storage companies, office furniture and supply companies, and of course the healthcare segments. health and beauty.
NOW, HERE'S THE CATCH!
1) CREATE AN EXCEPTIONAL CUSTOMER EXPERIENCE
B2B customers are now looking for a business-to-consumer (B2C) buying experience, includes a slick website design and features designed for a B2B setup. B2B e-commerce platforms offer website personalization, customer automation, price segmentation, punching, order fulfilment, shipping and payments, including after-sales service. . B2B e-commerce sites have streamlined their operations with backend enterprise systems such as enterprise resource planning (ERP), order management systems (OMS), third-party logistics (3PL) and customer relationship management (CRM).
With the use of such a complete system, orders are processed more smoothly and quickly, with fewer errors, more sales, and operational including economic efficiency for customers and operators.
2) INCREASE REACH
A B2B e-commerce website with publicly visible product category pages allows you to reach more customers. While businesses search for the best B2B vendors through online research, B2B stores can use search engine optimization (SEO) tactics to increase their visibility. on the Internet.
When a B2B vendor ranks on search engine results pages (SERPs) for relevant keywords, it's easier for their potential customers to find them. It would be better for them to rank on the first page after being searched.
3) SCALABILITY
An effective B2B e-commerce digital experience platform will allow your organization to easily grow and adapt to meet market and customer needs. It will then help open up new sales channels and continuously reach new market segments. By creating and testing engaging content for targeted B2B buyers, you can create value and react quickly to market changes.
Furthermore, by adopting scalable B2B e-commerce cloud solutions, you can enhance your existing technology and dramatically improve your sales and marketing capabilities.
4) IMPROVING EFFICIENCY AND PRODUCTIVITY
E-commerce delivers significant efficiencies to B2B organizations through integration with enterprise resource planning (ERP) and other back-end business systems. Since customers can easily order online, businesses can focus on actual customer service functions rather than just taking orders. In addition, automated workflow and control eliminate the need to reconfigure data in standalone systems, reducing the risk of errors. Shipping process and order throughput can be increased and further improved efficiency.
5) FEEDBACK SHARED BY CUSTOMER
How will you feel after experiencing a great online shopping journey? You will be back, right? A great online shopping experience keeps your customers coming back and can even help increase sales. After all, what would you trust more: clear marketing from the manufacturer or wholesaler or a compelling review from another buyer? A positive customer review has marked a subtly different level of persuasion from current buyers to potential buyers.
By offering a special B2B online store, you can turn your customers into evangelists. Research shows that customers spend 31% more when a business receives a positive review. The simple act of leaving a review and customers sharing their enthusiasm can have a significant impact on your business, with reviews often creating a significant boost in sales.
6) IMPROVE ANALYTICS TO BETTER UNDERSTAND YOUR BUSINESS
Another aspect of e-commerce websites is that they can help track KPIs. By integrating your e-commerce website with the analytics system, you can see a complete breakdown of your business sales. This can give you insight into what aspects of your business are doing well and where you need to improve.
Some key metrics to watch include:
• Monthly recurring revenue
• Bounce rate
• Sessions per user
• Session duration
• Organic traffic
• Average order rate
• Rate customer retention
CONCLUSION
Implementing B2B e-Commerce in your business assists you to streamline the processing and further increase your revenue while minimizing costs. Web-based business-to-business (B2B) e-commerce improves coordination between organizations, resulting in transaction cost savings and competitive sourcing opportunities for the purchasing organization. Therefore, you will also be stimulated in boosting your customer satisfaction levels, and there lays the foundation for future success.
xoxo
nice
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