The eCommerce industry has revolutionized how people find and buy products and services, and the B2B (business-to-business) segment is no exception. The rapid development of technology makes buying online easier and faster than ever before. In 2023, 42% of B2B distributors generate at least half of their revenue from eCommerce. If you run a traditional B2B company, now is the best time to take advantage of eCommerce possibilities.
To ensure your smooth transition and keep your B2B website up-to-date, this blog aims to present crucial features that every B2B eCommerce should have in order to stay competitive and successful.
Key characteristics of B2B eCommerce
Firstly, let’s look at the characteristics that differentiate B2B eCommerce from a standard eCommerce website, as B2B platforms are designed to cater to the specialized needs of business buyers.
Business relationships
Business relationships are an integral part of B2B eCommerce. It often involves long-term relationships between businesses that are built on trust and understanding, unlike B2C (business-to-consumer), which often has one-off transactions. These relationships are often formalized through contracts, and there is a significant emphasis on reliable, consistent service delivery to maintain good business relations. Moreover, interactions in B2B eCommerce are more complex due to the negotiation of terms, quantity discounts, and even customized solutions, which requires a deeper level of engagement and understanding between the involved parties than the B2C model. It’s worth noting that some meetings happen face-to-face, along with handshakes and dinners.
Bulk transactions and purchasing methods
The second characteristic of B2B is that the transactions usually involve larger quantities. The average order volume and, in turn, its value is bigger than in standard B2C stores. Such online stores usually use minimum order quantity (MOQ), which specifies what is the minimum number of products that a business is willing to sell.
Also, there is more room for negotiation and convincing the buyer you are the best solution, whereas B2C transactions are generally straightforward with fixed pricing and immediate payment. In transactions between businesses, being cost-efficient is vital to staying relevant in a highly competitive market.
Complex logistics
Selling large quantities of products requires effective order and inventory management, as it can pose challenges in terms of storage, packaging, and transportation. Besides that, there might be customized orders based on the specific requirements of business customers, requiring a flexible and responsive supply chain. B2B transactions may also be subject to various regulatory and compliance standards, especially when a company sells internationally.
Essential B2B eCommerce features
Here are the features that are vital to properly operating a B2B eCommerce store. Carefully read each one, and consider their implementation in the online store if they have been omitted.
Access control
Access control is a crucial security measure employed on B2B eCommerce platforms to ensure that only authorized individuals or systems can access certain information or perform specific actions. In B2B scenarios, safeguarding sensitive data such as pricing information, proprietary product details, and customer data is really important. For example, many B2B stores allow only pre-registered clients to access products and content.
Segmentation of customers
In contrast to B2C eCommerce, the B2B segment usually involves segmenting customers into groups, as it helps comprehend and cater to diverse customer needs, given the complexity often associated with B2B markets. This segmentation also helps in targeted marketing or sales campaigns by developing tailored messages and pricing plans for each group, hence improving the efficiency of these efforts. Dividing customers into groups makes them feel unique, and through effective customer relationship management, the selling company can find similarities and utilize them to better connect with potential customers.
Customized pricing plans and delayed payments
As mentioned above, pricing is very often customized depending on the client. B2B eCommerce is focused on more orders with a smaller margin compared to B2C. Taking this into consideration, business buyers have to understand possible pricing plans by analyzing flexible payment options and comparing them to other sources. Due to customer segmentation, they are offered different pricing based on repetitive purchases, average order volume, and other factors. Furthermore, businesses that buy in bulk often receive trade credit. Trade credit facilitates the purchase of goods and services by allowing businesses to obtain goods on credit to be paid for at a later date.
Purchase history
The purchase history feature in B2B eCommerce is essential as it allows both buyers and a seller to track past transactions and avoid wasting time. It also supports easier reordering, understanding of purchasing trends, and possible returns.
Dedicated contact person
Another great feature that can be a deal-breaker is a dedicated contact person. Direct contact with a person who represents another business is crucial as they serve as the primary communication link between the businesses involved, ensuring that information is relayed accurately and promptly, which in turn minimizes misunderstandings and mistakes. Additionally, a dedicated contact engages in relationship building by providing consistent and personalized interaction and understanding the specific needs and concerns of the other party, which can lead to better negotiation and collaboration.
Detailed product information
B2B eCommerce websites often need a specialized content management system (CMS) in order to support product information management and presentation of products. Products need to be classified into specific categories and equipped with photos and even videos that showcase them. Another useful eCommerce tool is product information management (PIM), which helps keep product descriptions, images, and pricing information up-to-date across many channels.
Flawless user experience
Last but not least, create the website with user experience (UX) in mind. Ensure that the website is intuitive and easy to navigate. A well-designed B2B eCommerce platform can lead to reduced customer support costs, as users are more likely to find what they need effortlessly. Remember to implement the above-mentioned advanced search engine to make searching for products easier and faster.
Customized B2B eCommerce Solutions for Wholesalers, Distributors, and Manufacturers
B2B features in Sylius
The SyliusB2B Plugin is a part of modular Sylius Plus. The plugin have with features tailored for business-to-business operations. Here’s a brief description of its functionalities:
Elasticsearch
B2B kit utilizes Elasticsearch with extended B2B cases to enhance the speed and precision of searches, enabling quick narrowing down of options using product names, attributes, categories, and more. This feature replaces the default search function of the Sylius. When customers input a phrase, they instantly receive suggestions from the store, saving time and helping in product discovery.
Order Management
Allows customers to browse, add products to their cart independently, or contact the customer service team for assistance with their purchase. The intuitive admin panel facilitates customer order management, enabling quick creation, customization, and making changes with just a few clicks. Also, it enables one to reorder products easily.
Organization Management
With this feature, organizations can streamline their processes and save time. By creating one master account, billing information, address books, and order histories can all be shared, granting access to the entire organization. Furthermore, roles can be assigned to members to ensure the security of sensitive information, e.g., the admin may only have the ability to add new customers and adjust billing data.
Quick Shopping
Designed with B2B customers in mind, this feature facilitates the placement of wholesale orders with many items and variants on a single subpage, eliminating the need to browse through numerous categories. By simply entering the SKU code or beginning to type the product’s name, users receive suggestions from the eCommerce site. Once the desired quantity is specified, all items can be added to the basket with a single click.
Multiple Wishlists
With multi-wishlists functionality, you can easily create, manage, and share multiple wishlists tailored to different customers or departments. Quickly add items to different lists, move them between them, and add them directly to the basket, specifying their number or variants (e.g., size, color) for an efficient and personalized shopping experience.
Customer Groups Pricing Lists
This feature is useful for businesses that have different pricing for different customers, such as wholesalers or distributors. It can also be used to set special discounts or promotions for certain customer groups. Administrators can create tailored pricing lists for specific customer groups, adding products and setting individual prices for each. Customers who are logged in and belong to the selected group will see the tailored prices instead of the default prices.
Organization Pricing Lists
Organizations can take advantage of custom pricing lists created by administrators to provide tailored pricing for their users. Administrators can quickly and easily create pricing lists with specific products and set individual prices for each; organization users will then be able to view these custom prices instead of the default prices. Custom pricing lists are a great way to reward loyalty, offer discounts to customers, or incentivize sales.
Import/Export Integration Layer
Your company relies on many systems to power your daily operations. With real-time data updates, you can maximize efficiency and save time. Accurate stock levels, product prices, and order synchronization are essential for production and distribution. No matter if you want to implement CRM, ERP, PIM, or any other system, this developer-friendly feature allows you to quickly create custom importers and exporters that will streamline your migration process.
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Summary
As the B2B eCommerce world expands, adapting to technological advancements and evolving customer preferences is essential to be successful. By adopting a customer-centric approach and integrating key features, B2B enterprises can not only meet market demands but also achieve sustainable growth and a competitive edge in the digital marketplace.