B2b ecommerce allows businesses to offer customers an engaging digital experience, potentially increasing customer loyalty, customer lifetime value, and streamlining business operations.
B2B ecommerce allows businesses to expand their market reach, which can increase revenues. Furthermore, an effective web store can turn clients into brand advocates who bring new business.
Co-branded or channel-specific ecommerce sites
Co-branded ecommerce websites allow companies to collaborate on marketing, sales, customer support and more personalized shopping experiences through collaboration on marketing, sales and customer care activities.
B2B buyers now require more powerful digital experiences. They seek greater convenience and efficiency during the buying process and desire the ability to track orders and payments online.
When selecting a B2B ecommerce platform, choose one that supports the individual needs of your business. This may include being able to customize pricing and delivery options for different customers as well as restricting catalog access for certain buyer types (for instance only registered businesses can access coffee offerings from BlueCart). Furthermore, password-protected sites for sales channels and distribution can also be created using BlueCart.
Subscription-based or traditional one-off purchases
Subscription models have grown increasingly popular over time as they provide both businesses and customers with numerous advantages. Subscription models can provide businesses with predictable revenue while helping to strengthen customer relationships for an increase in customer lifetime value (CLV) than one-off purchases alone.
B2B ecommerce refers to the use of online sales portals for business-to-business commercial transactions. Manufacturers, wholesalers and retailers all use B2B ecommerce platforms to improve their sales processes while expanding their customer reach and selling more products or services.
Consumers expect an effortless and personalized ecommerce platform experience, and modern platforms provide that with ease. A top-tier ecommerce platform will enable buyers to easily find products of interest without being directed by sales agents; learn about them further without ever needing to contact an agent; place orders without speaking with anyone; easily navigate different policies and restrictions imposed on purchases; as well as automate processes within companies.
Multiple payment options
As B2B ecommerce expands and B2B technology expands, platform owners must provide buyers with swift and convenient payment options – such as credit cards, ACH transfers, wire transfers and even cryptocurrency payments! Some sellers are even accepting cryptocurrency payments!
Buyers have grown accustomed to paying on terms, with prices often being negotiated as part of the payment agreement. Online payments with digital wallets have also become more and more popular among younger buyers like millennials and Gen Zers.
PayPal and Apple Pay, two e-wallets used to minimize fraud risk, require either facial scan or fingerprint authentication before purchases can be completed. Furthermore, many mobile payment systems now feature built-in biometric authentication for added protection. BNPL (Buy Now, Pay Later) financing option also helps increase conversion rates; though traditionally used in B2C sales environments. BNPL is now making waves in B2B too!
Tracking and analytics
B2B ecommerce is an increasingly popular trend, and offers numerous advantages such as centralised data, efficient ordering processes and simplified customer service. Furthermore, it can help build relationships with potential buyers while building trust between you both parties involved. Unfortunately there are some misperceptions surrounding this form of doing business that should be addressed before taking the leap into this new frontier.
So for instance, some businesses assume they cannot afford an ecommerce platform. Although this may be true for smaller brands, flexible, customizable solutions that enable customer satisfaction can still benefit them greatly.
Personalization and automation have also become trending topics in B2B ecommerce, which AI-powered tools can assist companies with. AI can assist companies to understand their buyer audience better and enhance customer experiences through relevant products and content delivery. Furthermore, such tools automate back office operations, streamline order processing and help minimize inventory levels through optimizing pricing models or forecasting demand forecasting capabilities.