B2B eCommerce: How to Reduce Costs and Increase Sales?
Proven to be effective, more and more commerce and business transactions now are migrating online. This shows that the B2B eCommerce is indeed providing good support and business to owners and sellers.
This has become a major behavioral trend and is seen to be steadying in the years to come. Adopting B2B into one’s business model can be very beneficial. Many business leaders have amplified their sales, marketing, and customer service efforts while minimizing costs.
For manufacturers and distributors, B2B eCommerce has immensely provided business sales, marketing, and customer service that matches their desire to provide online convenience to their buyers and customers.
Surveys and reports revealed that 67% of respondents preferred self-service over speaking to a company representative and nearly 75% of B2B buyers now say that buying from a website is more convenient than buying from a sales representative. - Forrester
Furthermore, at a 2018 Forrester survey, B2B buyer’s appetite for digital ordering tools is continually increasing, and self-service methods are overwhelmingly preferred.
Customers today have higher expectations for a seamless experience along with the ability to find information and to receive responses immediately. We live in a world where instant gratification is the quickest way to succeed.
The power to change the customer journey online lies on every decision an organization takes while at the same time, making sure marketing and sales strategies are in sync.
With this, we have listed down 5 ways on how your business can be digitally relevant and earn more through B2B eCommerce.
1. Marketing Operations
Viewing from the marketing and operation standpoint, B2B eCommerce is the primary key to solve all marketers problems in operations. Whether it’s about brand consistency, brand messaging across all channels, or memorable customer service, B2B eCommerce can help.
Marketers now use B2B eCommerce to deliver marketing content easily and to downstream go-to-market channels in all shapes and sizes. This type of content can be customizable or co-branded by any distribution partner as long as it is compliant and consistent with the company’s marketing direction.
B2B eCommerce can also simultaneously provide easy access and control to all sales channels. All in all, both parties will spend less time dealing with internal transactions and more time to develop other strategic efforts in growing the business.
2. Sales Operations
In respect to sales, B2B eCommerce has many uses too. It can be used to manage vendor’s data, manage sales of brands or products and can even clean up any tech-related problems in relation to managing the sales report.
It provides solutions to many problems including how to support multiple brands and at the same time, offer unique customer service in one single platform.
Modern B2B solutions are all about the advantages of an administrative environment that makes sure all the built-in branding, permission and approval, and complex customers’ needs are met.
Furthermore, other tasks such as order confirmation, product update status, stocks listing, and shipment tracking is also provided by B2B eCommerce. Now, salespeople will spend less time on non-strategic activities.
3. Custom Solutions and The Cloud
Software as a Service (SaaS) is the foundation of B2B eCommerce solutions. This means that it is being delivered from the cloud and no licenses, no hardware, and no management are needed for it to be deployed instantly.
This is one way to reduce cost especially in automating sales and marketing operations with the help of B2B cloud-based platform that solves any challenges in an organization. It’s a huge cost saving that is beneficial to any company and it should be harnessed extensively.
4. Growing Business Network
B2B eCommerce won’t just give you product and brand visibility, it will also grant access to a wide pool of business network that you cannot find anywhere that easily.
eCommerce marketplace can be a tool to create and increase business network that would be very beneficial to the business moving forward. One of the interesting aspects of being a business owner, entrepreneur or salesperson is that every day is full of new opportunities to meet new people.
Even in B2B eCommerce, you might have great chances to network and connect with people who could potentially be your next customers. It becomes a great source for staying abreast with the latest trends and opportunities within the business industry and getting to know them and who they are.
5. Visibility, Infrastructure, and Trust
B2B eCommerce offers greater visibility to your products and this can be seen by millions of people. (Read our previous article on brand visibility here)
Any successful platform like Amazon, eBay, and Dropee offer not just online presence but daily traffic to your products. eBay alone has 172 million active users globally.
This is a huge benefit to the company’s marketing and sales initiatives as all efforts are rolled into one platform. Plus, no more hiring issues on finding suitable marketer for your brand.
B2B eCommerce platform will also provide all-in-one shopping experience including product and price updates, product comparison, seamless checkout, hassle-free shipping experience, return policy, and payment system.
Moreover, all of these B2B eCommerce entities have terms and conditions for sellers to make sure that customers can receive safe and quality products while at the same time, being protected and legally bound.
B2B eCommerce offers a vast opportunity for brands to increase sales volume and expand their market and customers. For Dropee, sales, marketing, and technology strategies are very important and we value customer satisfaction and experience to make sure all brands stand out and grow.