As the world becomes increasingly digital, companies are looking for new and inventive ways to reach their target markets. One of the most efficient and effective ways of doing this is through B2B eCommerce websites. These platforms provide a number of advantages that are not available through classic business-to-consumer models. In this article, we will discuss some of the key benefits of B2B eCommerce websites. We firmly believe that B2B sales channels will become a critical part of eCommerce in 2022 and beyond!
Convenience over everything
The B2B eCommerce market is enormous. It’s twice as big as the business-to-consumer industry. Inside the US alone, B2B sales are expected to reach close to $2 trillion by 2023. B2B consumers have grown acclaimed to the convenience of online shopping that retail customers have been used to for many years already.
Extend your customer reach
By making the shopping experience a breeze even for big wholesale orders, your easy-to-use interface will result in customers regularly returning to to business with you. Customer retention is extremely important, as it is much easier to keep a customer coming back, than it is to find a brand new one. This is why your user experience is critical, as a visitor's first impression will make or their decision to buy from you or the next best option.
B2B eCommerce will not only allow you to appeal to a wider customer base and consistently retain buyers, it will also help maximise sales by implementing automated programs to cross- and up-sell. There are several wholesale solution apps available accross all eCommerce platforms – you can utilize these apps to offer relevant suggestions, encourage customers to buy additional, related items, or upgrade their chosen products to ones with a higher spec.
Another benefit of B2B eCommerce is the potential to minimize expenses while growing revenue.
By moving the bulk of your business processes online, your CMS (content management system) will save you time and money on areas such as order entry, customer service and the provision of client information. Streamlining these processes boosts efficiency immensely while also ridding unnecessary costs.
There is a reason data is one of today's most sought-after commodities, as it proves priceless to any business looking to grow. eCommerce platforms are no stranger to helping you acquire, analyse and measure crucial data for sales, customer engagement metrics, inventory turns, and more.
One of the strengths of having an online store, is the infinite scaling possibilities. With an effective B2B integration, your online store will be able to scale and adapt in response to the every-growing market demands.
Implementing a B2B model in your online business will help you streamline your processes and expand your profits while minimizing costs and providing you with very useful analytics. What's not to love?
Click here to read our Wholesale Pricing Discount app review for Shopify