5 Reasons Why You Should Invest In A B2B eCommerce Platform In 2019
The unanimous call to get things in one single click has been a very useful case for the business to customers (B2C) market. It is slowly being implemented in the business to business (B2B) industry as well. People are showing more and more interest and reliance on ordering online which makes eCommerce sites very useful. Technically, buying online and online stores are not new. They have been around for a couple of years now. However, the perks of serving and contacting customers directly online, these features are slowly expanding into the B2B industry. Let’s dive into 5 benefits of investing in B2B eCommerce in 2019 and why it is a good decision for every business regardless of business nature.
1. B2B eCommerce is Growing
B2B eCommerce is growing exponentially. More and more business owners are getting their services available online and this is good because, in order to meet a strong market request for online stores, more investments are going to eCommerce platforms.
A report has shown that the B2B market is anticipated to be worth $480 billion in the coming year. Another survey also reveals that 85% of the B2B companies realize that eCommerce is a crucial revenue stream that they haven’t fully tapped into.
These clearly show that today’s B2B buyer has evolved. Instead of turning to traditional sources like sales reps and vendors, they now turn online.With this, it is very sensible to invest in B2B eCommerce platforms.
2. Higher Conversion Rates
Investing in eCommerce platforms is expected to result in higher conversion rates and order rates as compared to traditional processes. This is one of the main reasons why B2B markets grow more than the B2C market. B2B buyers have the tendency to be persistent in purchasing their orders and more likely to make repeat orders in the following days to come. This is the type of buying pattern where businesses can thrive through B2B platforms and in return create higher conversion rates.
3. B2B eCommerce Solves Changing Buyers’ Persona
Buyers preferences are always changing. Millennials are increasingly dependent on online stores and are slowly joining the B2B industry. These type of buyers make up a large market portion of those who have strong buying urgencies. Nowadays, it’s hard to compete with so many brands while making sure that your prices are competitive and having a strong presence online.B2B eCommerce platform solves this problem as it offers wide visibility to business owners for their products and makes it easier for them to adjust to the changing buyers' persona from time to time.
4. Improve Customer Service
In a normal commerce industry scenario, the customer service representative takes a look at the product on the system, makes sure to place an order online and helps the customers to use the system. Now, B2B marketplace platforms offer a friendlier user interface and easy access to place order and checking stocks, etc. This makes customer service easier and assures a satisfactory service. Through B2B eCommerce, business owners and retailers will have easy access to all that they need in just one click. This way manufacturers and suppliers can assure that their customers get the products they wanted and the process will be seamlessly effortless.
5. Increase in Sales Performance
B2B eCommerce helps improves the sales performance of a business. User-friendly interface, easy-to-use ordering system, and highly accessible platform are some of the factors that improve the efficiency of the buying process and in return creates more sales online. Instead of hiring people to do sales for your business, B2B marketplace platform will do the job for you but faster and cheaper. Now, it will be easier to check product inventory, stock count, and product status online. No more paper brochure or expensive print ads. Business owners can attest that B2B marketplace can do so many things for their businesses and makes their sales funnel even bigger.Check out our previous article on Top 5 B2B Marketplaces That Can Help You Grow Your Business.
Invest in B2B now
As the B2B eCommerce industry expands, it is very important to invest now. It is a perfect time to reap the potential of digital eCommerce platform.Recently, Dropee introduced a new web interface to further streamline communication between suppliers and retailers. Dropee is now able to support any number of suppliers and retailers. The new interface features an improved dashboard with greater functionalities to help speed up documentation processing and better manage relationships with customers.Dropee is a B2B marketplace that connects suppliers and retailers on a digital platform, enabling both to digitize sales orders, track inventories, process fulfilment of goods, and access to real-time data.