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The Importance of B2B E-Commerce - ChannelOnline
  • The Importance of B2B E-Commerce

  • Friday, August 17, 2018

Business to business commerce is a rapidly growing part of the e-commerce market, and it's clear that businesses are broadly moving to a pure B2B e-commerce environment. In 2015, worldwide spending on software for digital commerce platforms reached roughly $4.7 billion, and this is expected to grow an average of 15% for each year from 2015 to 2020. A wide range of tools are available to optimize prices, ensure accurate quotes, and automatically provide incentives that match with client needs.

B2B E-Commerce Is Critical to Success
The B2B e-commerce market is roughly twice the size of the business-to-consumer market, so companies that make full use of the B2B market are more likely to succeed. This means establishing what your products offer to businesses and ensuring that you have separate marketing processes for B2B than you do B2C.

Driving this growth in particular are manufacturing and wholesale, as wholly customized systems are generally tricky to adapt to other localities, particularly with respect to internationalization and localization. Systems that are available off the shelf, however, as cloud solutions are generally much more adaptive, as they must automatically cater to a variety of countries worldwide.

In addition, cloud solutions scale, so you can take a relatively small business and gradually expand it without having to completely overhaul your departmental processes while doing so. Instead, you gradually add licenses or options so that you gradually grow your software in line with your business.

Online Means Visibility
The integration of the online world into everyday life means that the first thing most people do when they are looking for a product is search online. This applies to houses, books, laptops, and staplers equally. This is because the online experience makes it easy to compare multiple options from the comfort of your seat. Consumers who do this at home bring this trend to the corporate world as well. Companies that are not visible online now rarely get sales.

In addition, the overall buying experience should be roughly comparable to the experience you get from major shopping portals. This generally means reviews, plenty of detail with respect to the product, and an easy-to-use software interface. There is absolutely no reason why modern e-commerce stores cannot provide such functionality.

B2B Sales and Customizability
One of the key areas where B2B sales flounder is in the ability to configure, price, and quote products and bundles in line with customer requirements. Most B2C software lacks this ability simply because it's not required, and if this software is used with B2B sales, it's less likely to entice customers.

This always means accurate data, and it's vital to have software that can accurately price bundles and offer appropriate discounts according to your needs and your client needs. ChannelOnline is a cloud-based SaaS solution that provides an e-commerce store that is customizable and is populated with CNET DataSource comprehensive product data. This makes B2B e-commerce sales faster, more effective and easier to manage thanks to accurate information, potentially leading to improved sales results.