Nowadays, it’s hard to imagine that something we’re looking for isn’t available on the Internet, especially when it comes to today’s living – when the pandemic exists. Still, it isn’t just about this time. As it turns out, many companies, despite high revenues (over 10 or 50 million EUR and more), still do not use the potential offered by the online channel in any way. Very often, they are just beginning to realize that competition and digital transformation are escaping them!
Many companies that operate in the B2B area are still of the opinion that their customers are traditional and will always rely only on the phone, fax, or email orders. However, the reality is that we live in a time of digital revolution without dividing the industry. We are moving towards an economic model in which we are self-sufficient.
Customers no longer want to search the paper or digital catalog or place orders and solve problems over the phone. Of course, there are situations in which such activities will bring more benefits than no direct contact. The most important for customers is efficiency and the time they can save! Access to the current product offer at any time and the possibility of its quick comparison (for example, with your competitors), becomes the key. Have a look at some statistics (based on Google 2019 report).
What’s more, modern internet sales systems targeted at business customers are more and more reminiscent of well-known online stores characterized by intuitive operation. Customers want to complete their purchasing process quickly and efficiently directly on the website using a well-functioning search engine, additional functionalities such as shopping lists, where with one click, they can order. If your company doesn’t offer those solutions on a B2B platform, customers can start looking for such convenience at one of your competitors, regardless of the price.
Positive digital customer experience with your website builds awareness and increases loyalty to your B2B brand.
Let’s get to the point!
The dynamics of the B2B market development in eCommerce
Mostly, we identify e-commerce with B2C and traditional online stores. However, industry reports show that the highest growth dynamics is in the B2B segment. It can easily be seen that for several years the Global B2B e-commerce market has been several times larger than the B2C market. As you may see the potential in this sector is enormous. That’s why it’s worth not to miss the moment when the competition leaves you far away because then the financial outlay you will need to try to chase it will be many times higher. It is worth using prophylaxis rather than emergency measures :).
Automation of processes in the company
With a very well-organized e-commerce B2B business, you get a significant competitive advantage in terms of speed of operation and simplification of procedures that you have in your company. A well-created B2B platform for e-commerce should give you many opportunities. How about dedicated shopping lists for your customers, where with one click, they add all products to the cart or provide them with the opportunity to select a specific delivery date for a selected day. Also, solutions such as well-configured chatbots, which will automatically answer the most critical question and problems that your clients have. These steps can lead you to the position of a leader. Process automation will translate into every area of your business.
Society is aging, and your client is getting younger, which in short means that they use new technologies more often, whether you like it or not. The world is moving towards online development, and you have no way back.
Key business benefits
- More Business Opportunities. Let potential clients and resellers find you, create targeted marketing content, publish your catalog pages.
- Reduced costs. Sounds impossible? Here are some examples which processes may be cheaper: inventory costs, sales costs, personnel expenses, prevention of lost revenue due to order errors, web store/product catalog maintenance costs, cost of new customer acquisition. It depends on your needs and current company organization.
- Customer Feedback. A positive review from another buyer has a real impact on your power. Almost everyone checks opinions before purchase.
- Getting New Markets. B2B e-commerce platform can help you reach more clients – that’s a fact. What’s more, is that those clients don’t have to be in your existing markets. When your business doesn’t rely on the availability of your sales team, your digital sales channel can be available 24/7, even time differences.
- Data-Centricity. If you integrate your ERP system with the B2B e-commerce platform, it lets you grant insight into the data that means to your sales and marketing operations.
You might face the decision that is crucial for the successful conduct of the entire enterprise. It is about choosing the right and experienced implementation partner who will help to determine the right direction of project development. At BitBag, we provide solutions tailored individually to the customer. If you’re starting your way with B2B in e-commerce, or are looking for practical solutions, feel free to contact us using this page or contact form below.