The Importance of E-commerce Platforms and Why Your B2B Business Needs One
E-commerce is on the rise and is leading the commerce business today in our modern and rapidly changing world, and business-to-business (B2B) e-commerce is no exception. B2B commerce sales are expected to grow more this year, with 17% of it to be online through B2B e-commerce platforms. According to studies, B2B e-commerce growth is expected to be 20% by 2030.
B2B retailers are leading the way by launching wholesale deals, but B2B retailers using e-commerce platforms are seeing increased revenue on wholesale sales than B2B retailers who don’t.
Why Are B2B Sales Happening Online & How Online E-Commerce Platforms Are Helping?
B2B buyers are one of the most profitable and demanding customers. They are always prepared and tend to research online before heading directly to a particular seller. These buyers are knowledgeable with a particular vision of what they want to buy.
Converting these customers to your brand requires more than just a brand name. You need an e-commerce platform that can effectively communicate your products and campaigns, demonstrate social proof, and show why you are chosen over a multitude of options. You need a strong and effective e-commerce platform.
In this blog, we will go through the advantages of B2B e-commerce platforms and how they can positively affect your business. Whether you own a (Direct-to-Consumer) DTC brand in the country expanding into B2B for the first time or as a traditional retailer transitioning from B2B sales from face-to-face to online sales.
1. Increasing Customer Base
Back in the time before the internet and e-commerce, B2B retailers used to rely on their network and face-to-face branches. People used to ask around for referrals and references, but today everything is different, and online search engines are the source of all information. Your business can’t grow or expand without a strong website and an online presence. B2B e-commerce platforms don’t only increase your local customers but also open your business up for the global world, giving you access to new customer bases.
Potential customers are out there searching for everything online. You just have to show your business and products.
Among the many B2B e-commerce benefits is increasing your brand’s recognition. Brand awareness is a battle for pure D2C brands. How much attention you get depends largely on your customer's willingness to promote your product publicly or by spending thousands of dollars on D2C marketing and launching huge campaigns. So if you’re a business owner thinking about how to increase brand recognition, here is how B2B e-commerce can help you without spending a fortune on marketing.
An easier and more effective way is selling your products through B2B channels and platforms such as B2B wholesale, which will greatly increase brand awareness. Resellers who buy your products at wholesale prices will promote your products for you in order for them to sell more and increase their profit.
Product packaging, including your logo, brand name, and trademarked slogan, will do the job when displayed in different stores and channels managed by your retail partners, whether in separate online stores or physical stores.
3. Achieving Higher Order Quantities & Increasing Sales
What differentiates between B2B and B2C customers is the volume and frequency of their orders and purchases. B2B buyers don’t buy single units or minimal quantities like B2C customers, they are always looking for wholesales and bulk orders with large quantities to get better prices and increase their profit margins.
B2B buyers make orders more frequently in shorter times, especially if the ordering process is streamlined and easy for buyers to self-serve through your B2B e-commerce website or platform. It’s not uncommon for buyers to reorder large quantities on a regular basis.
You can’t say the same for B2C consumers, especially in industries like fashion. It’s extremely unlikely that end consumers buy products from the same brand every week or month.4. Enhancing Business Management, Analytics & Inventory Tracking
B2B management systems are now more advanced than ever. Business owners can now easily track all their orders and business through detailed B2B order systems and software. Using these systems gives a comprehensive view of all forms of business, allowing owners and managers to quickly understand bottlenecks, make critical business decisions, and manage activities quickly. Improved analytics for better insights leads to digital transformation achieving higher revenue generation, profitability, and market rating.
Moreover, these are some key factors that can help improve brand analytics using B2B e-commerce platforms.
Communication with clients via social media channels, the brand’s website, and regularly updating content.
Improving customer experience with interesting and rich content, characters, and graphics.
Optimizing B2B e-commerce websites or platforms for mobile devices.
Creating a brand story that strengthens relationships with existing buyers and sells the product or service to new customers.
Providing a seamless online ordering gateway with several payment options.
5. Achieving B2B Sales Automation
Managing B2B sales offline is a process with many moving parts and needs a lot of personnel. Traditional B2B online business requires salespeople to build relationships, enter orders into the system, issue invoices, and notify customers when payments are due.
Emigrating to a B2B online platform can help with all of that and even provide more benefits, such as reducing human error, decreasing the risk of shipping the wrong product, mis-invoicing a customer, or forgetting to notify an upcoming payment. B2B e-commerce automation provides greater flexibility and improves overall sales.
On the other hand, expanding your B2B business and sales strategy by minimizing errors and increasing efficiency by providing a DTC-like style selling features such as upsells and product recommendations is much easier with B2B sales automation. These DTC-like customer experiences are the main reason that drives repeat orders.
Take Advantage of Dubuy’s E-commerce B2B Power
The power of B2B e-commerce is immense. Forget about traditional processes and allow B2B buyers to use e-commerce solutions on their own terms.
If you're new to the B2B business and thinking about expanding to the B2B e-commerce world, you should know that it's not as complicated as you might think. The advantages of B2B e-commerce far outweigh the time required to create a B2B platform with Dubuy.com.
As a part of the logistics giant DP World, Dubuy.com can help you manage your B2B business, increase profit margins, eliminate human error, decrease costs, and much more. What are you waiting for? Sign up now and enjoy the endless possibilities.
Frequently Asked Questions (FAQs)
Why is E-commerce important for B2B?
Incorporating e-commerce in your B2B business can strongly increase brand awareness and recognition by selling your products easily and effectively and introducing them to the mass market. Online B2B e-commerce platforms allow existing and new B2B buyers to self-service their purchases at any time and anywhere from their computers or mobiles.
Why do B2B businesses need B2B E-commerce platforms?
B2B e-commerce websites and platforms give B2B business owners and managers better overall analytics, such as better visibility, knowledge of market prices, and customer history through their laptops or mobiles. You don't have to be confined to an office anymore. Furthermore, there are many benefits of B2B e-commerce, such as increasing brand awareness, recognition, and overall profit margins.
What is a B2B E-commerce example?
Dubuy.com is a B2B e-commerce platform example that can help you export, import, and sell your products worldwide. Dubuy.com can also help you connect with global suppliers and buy wholesale products at unmatched prices.
