Top 10 B2B eCommerce benefits
The Benefits of B2B eCommerce
B2B eCommerce solutions can transform the way that companies do business.
As B2B sales is increasingly shifting from traditional outbound channels to inbound online platforms, businesses must respond in order to meet their customers’ expectations and remain competitive in the marketplace.
As well as allowing your customers to purchase your products online, B2B eCommerce solutions also offer numerous benefits for businesses, enabling them to increase sales, optimise efficiency and reach new customers and markets.
Here are the key benefits of dedicated and tailored B2B eCommerce software:
1. Tap into a huge and growing market
The B2B eCommerce market is huge. It’s twice as big as the B2C industry. In the US alone, it’s predicted to reach $1.8 trillion by 2023. Buyers now find the online sales experience more convenient than buying from a sales representative, as they would have done in the past.
This represents a significant opportunity for businesses.
2. Reach more buyers
The way buyers shop is changing. Buyers want to be able to research and buy online. In fact, according to the Merit B2B report, millennials are increasingly taking on decision-making roles within their organisations, and they expect to be able to buy online. This is part of the reason why B2B eCommerce is growing so quickly.
B2B eCommerce software is an incredibly effective way to reach new customers, strengthening your online presence and, as a result, helping potential new clients find you via search engines.
3. Reach new markets
As well as reaching more clients within your existing markets, B2B eCommerce solutions will allow you to reach new markets.
When you take your B2B sales channel online, your sales activity is no longer dictated by the availability of your sales team. Your online sales channels are available 24 hours a day, 7 days a week, 365 days a year. This makes it significantly easier for customers from different markets and time zones to buy your products.
4. Increase sales
B2B eCommerce software will not only allow you to reach out to a wider customer base and attract more buyers, it will also help maximise sales by implementing automated programmes to cross-sell and up-sell. A large wholesaler utilising our B2B eCommerce solution, for example, saw an average sales increase of 10.5 percent.
Programmes can be used to offer relevant suggestions, encourage customers to buy additional, related items, or upgrade their chosen products to ones with a higher spec. They also run personalised promotions, and feature price mapping so the right customers see the right prices as the right time.