Want to take your enterprise a level up with B2B eCommerce solutions? In today’s digital age, having an e-commerce solution for your B2B business is essential. It not only provides a more convenient way for your customers to do business with you but can also help increase your sales and revenue.
However, building a B2B e-commerce solution can be a complex process. You need to consider factors such as the features and functionality you require, the user experience you want to provide, and the security and reliability of your platform.
In this blog post, we’ll guide you through building a B2B e-commerce solution for your enterprise. From understanding your business requirements to choosing the right platform and designing an engaging user experience, we’ll cover everything you need to know to build a successful B2B e-commerce solution.
So, let’s get started!
B2B eCommerce Statistics
Statista’s study depicts that the North American B2B eCommerce market will surpass $4,600B by 2025.
It’s precise that eCommerce is no longer a fashional new channel that B2B organizations are discovering. In fact, a study by eMarketer predicts that B2B sales will boost to around $1.5 trillion this year and $2 trillion by 2024.
Still, to thrive with B2B eCommerce, having a crucial website or a bad customer experience isn’t acceptable at all. Yet, 52% of B2B buyers report being annoyed with the online purchasing experience.
Also, 90% of B2B buyers would move to a contender if a supplier’s platform couldn’t fulfill their demands. To offer the shopping experiences purchasers have come to anticipate, B2Bs must focus on their digital transformation in 2023.
It’s crucial to note that with the growing B2B eCommerce marketplace, the demand for a trusted eCommerce software development company is also increasing. These software companies are aware of the latest trends that you must know for better business growth.
B2B eCommerce Upcoming Trends to Watch Out
01- Omnichannel Experience
B2B buyers aren’t only driving to omnichannel, they’ve reached. Purchasers have revealed they wish them all presented with the option of in-person, eCommerce, and remote platforms.
Customers are the actual kings of today’s digital market. They have access to unlimited data and are encompassed by various shopping options, both offline and online. Customer experience is essential for B2B organizations like never before.
Engaging and attracting users is quite competitive as they utilize diverse channels and devices daily. An effortless and consistent omnichannel experience is necessary in the modern B2B eCommerce landscape.
02- Social Commerce
30% of all digital users in the USA finish purchases via social media, compared to 50 percent of users in China. The quality of advertising and selling products via social media channels is a compelling game changer in 2023. Hence, it makes it more logical to know why social commerce sales may triple by 2025.
B2B companies can set up their eCommerce shop on Pinterest, Instagram, or Facebook. Here’s a superb instance from Bulk Bookstore, the wholesale book retailer:
Purchasing and selling are no longer limited to dedicated sites. Organizations can market their products on social media channels that suit their domain best while maintaining the general customer experience they wish to offer.
03- Digital Supply Chain Management
The COVID-19 pandemic impacted worldwide supply chains by revealing most B2B eCommerce organizations’ loopholes, particularly the ones whose supply chains depend entirely on China to achieve their requirements for end products.
Hence, over 60% of B2B eCommerce firms prefer to lower their reliance on explicit nations like China and improve their current centers’ ability.
B2B managers across all domains must concentrate on incorporating their foundational supply chain abilities with proven digital tactics. This is how they can protect against worldwide supply chain irregularities and stay competitive.
04- Mobile Wallets
It is a general truth that B2B buyers are consumers too. Even B2B shoppers require a similar effortless digital experience offered by their famous B2C enterprises in today’s overcrowded market. B2B eCommerce organizations that fail to satisfy such digital requirements will lose to competitors quickly.
“All my marketing strategies failed when one of my potential buyers abandoned her shopping cart because of the unavailability of a checkout option through the mobile wallet.”–Pranav Jain, Head of Business Development, Adinath Dyeing Finishing Mills.
This is why B2B needs to change digitally, and it’s occurring now. You can find the best app developers in India to use this trend and boost your business like never before.
This is why B2B needs to change digitally, and it’s occurring now.
05- Organizations Lean Into Sustainability
As sustainability raids into the middle of everything an organization does, more businesses must embrace a similar perspective to develop initiatives near sustainability.
And while sustainable objectives are perfect for the surroundings, they are equally advantageous for businesses. Studies show eco-friendly companies draw 4.3 times more loyal consumers than others, and their conversion speeds grow to 20%.
Avery Dennison, the eCommerce B2B brand—a label manufacturer— skillfully took over the strategy in their company to ensure a delightful customer experience.
06- Personalized Customer Experience
Customer segregation by demographic detail will not be useful anymore. If you want to take your users’ experience to a level up of personalization, you must dig into their attitudinal and behavioral attributes.
Simultaneously, this will assist you in tracking when, why, where, and how consumers shop. Besides, it allows you to provide tailored, end-to-end, and seamless experiences.
To increase customer dedication, you must develop a few customer-centric moments, build them to memorize you for a long, and improve your brand commitment.
B2B eCommerce Marketing Strategies
- Kickstart Development With Targeted Ads
Paid ads are still there. In spite of social media’s popularity as an advertising platform for not just DTC users but B2B consumers, paid ads are among the quickest ways to achieve traction in the initial phases of development if you hold the startup fund for it.
Example: Bravo Sierra, a personal care brand for men, utilized paid Facebook advertisements to boost its user base.
- Leverage Associations
Sometimes, the best development path is leveraging collaborations with other organizations. The key is striking a win-win deal that both firms are happy with.
Example: Beis, a travel brand built by public figure Shay Mitchell, associated with Beach House Group to launch its products. Shay had the leverage to sell a travel brand since their online presence. Beach House Group held the industry connections and expertise to make it happen.
- Provide Speed
Providing more rapid product delivery to customers is a specific value proposition that can deliver substantial sales growth and customer retention advantages. Implementing this technique can be one of the most practical methods to accomplish these objectives.
- Use a Distributor to Complete Orders Reasonably
Moving direct-to-consumer is increasingly becoming expensive across industries as inflation rants, and everything costs increase. To remedy completion payments and keep a small budget, consider utilizing an intermediary distributor to handle the completion process.
For Example- A beverage organization, Swoon, moved its backend shipping to the fulfillment solutions of Amazon to decrease costs.
What are Different Types of B2B eCommerce?
If you’re just beginning in B2B eCommerce, here are the fundamental types that you’ll see:
Business-to-business-to-consumer (B2B2C) markets directly to the user without utilizing a middleman. Manufacturers or wholesalers produce goods. Those items are then dealt to B2B commodities that trade them directly to the customer.
In a wholesale arrangement, businesses purchase goods in bulk from manufacturers to then provide them for trade to the customer at retail costs.
If you’re into wholesaling, B2B marketplaces are a profitable method to market your products to retailers and buyers with less advertising effort. Buyer-oriented markets exist where there are several buyers and fewer sellers.
In such a scenario, buyers have their online marketplaces. They invite manufacturers and suppliers to display their products and get bids from multiple sellers.
Manufacturers create items in significant amounts that are then marketed to other manufacturers, suppliers, or wholesalers. For instance, a manufacturer might build specialty shoelaces. Then those shoelaces are sold to a shoe manufacturer, which constructs the shoe and adds its branding. From there, finished shoes can be traded in proportion to wholesalers.
Distributors handle packaging, marketing, and shipping, which a manufacturer may wish to do outside of in-house. Manufacturers have the possibility of associating with distributors to market their products.
A distributor and manufacturer association can be built online. As you can think, collecting market share by providing a leading customer experience is a competitive search. This makes optimizing reasonable distribution initiatives a must.
The Future of B2B eCommerce
Statista reveals that 17% of B2B sales will be done online by 2023 end and those complete B2 B eCommerce sales will surpass $1.8 trillion.
Multiple B2B players are moving everything to digital sales to serve their users better. Over the next couple of years, B2B eCommerce will continue to rise and will offer several benefits:
- More rapid order processing.
- Smart self-service options.
- Better third-party fulfillment.
- Better social engagement.
- Smart self-service options.
- Better social engagement.
B2B eCommerce Examples
- Picky Bars
This health food company offers retailers a B2B e-commerce platform to purchase their products. The platform provides a seamless buying experience for businesses, allowing them to easily browse products, place orders, and manage their accounts.
- General Electric
Although primarily known as a B2B company, General Electric (GE) has recently launched a direct-to-consumer (D2C) plan for its industrial products. Through their e-commerce platform, customers can browse and purchase products directly from GE rather than going through a third-party distributor.
FireRock is a B2B e-commerce platform specializing in home-building products, such as fireplaces and outdoor living.
The B2B eCommerce industry is booming without any signs of slowing down. So, if you want to build a B2B eCommerce solution for your enterprise, this is the right time. However, accomplishing a dream store is only feasible with an expert team. Thus, you must hire a b2b eCommerce software solution provider to help you throughout the process. This will make your journey smoother and help you get the best outcomes. If you still have doubts, feel free to comment down below.
How do you select a B2B eCommerce platform?
Here are some tips for picking a b2b eCommerce platform:
- Ensure it’s cloud-based for simple access and scalability.
- Search for a customizable and flexible platform.
- Make sure that your tool offers support.
- Incorporate your eCommerce solution.
- Assess partner programs.
What are the upcoming B2B eCommerce trends?
The upcoming B2B eCommerce trends are:
- Increased Personalization
- Mobile Optimization
- Omnichannel Selling
- AI and Machine Learning
- Sustainability and Social Responsibility
How do you commence with B2B eCommerce?
To start with B2B eCommerce, analyze eCommerce software choices and pick one that suits your business. Create your eCommerce existence and customize it for your enterprise and business model. You can even hire a leading eCommerce development company for better results.