The number of online enterprises is increasing in tandem with the fast expansion of digital commerce. According to Statista.com, the worldwide B2B eCommerceindustry was worth USD 12.2 trillion in 2019 and was six times larger than the B2Cmarket.
The value of the B2B eCommerce sector is expected to rise rapidly. As a result, more merchants will start up their online businesses, increasing the need for B2B eCommerce platforms.
What is B2B eCommerce Platform/Customer Portal?
In other words, a business that sells its products or services to another business is engaging in a B2B transaction.
In terms of buying patterns, order values, volumes, and procedures, B2B eCommerce trends, requirements, and problems differ dramatically from B2C.
An excellent B2B eCommerce platformshould include the following characteristics to deliver a smooth customer experience:
Among B2B eCommerce capabilities, customized B2B catalog management is arguably the most different and distinctive. It enables sellers to personalize product catalogs for businesses, company units, divisions, and even individual buyers or clients.
Customer expectations for tailored experiences are substantially greater now, according to 73 percent of B2B executives than only a few years ago.
B2B eCommerce stores frequently fail to owe to their rigidity and use of a common template. There is no such thing as a one-size-fits-all solution when it comes to company requirements.
The ideal B2B eCommerce platformfor you is one that meets your company's needs and allows you to give a personalized experience rather than simply developing based on templates.
B2B transactions are complicated, and making them simple necessitates a lot of specialized capability that isn't often seen in a B2C eCommerce experience. The complexity and urgency are in providing a B2C-like buying experience, with slick site design, capabilities for vast catalogs, and segmented pricing.
Flexible payments, which are an important aspect of B2B Digital Commerce Platforms, lead to a better user experience. While providing various payment methods and installment techniques, ensure that offline payment alternatives, such as credit cards, NEFT, IMPS, RTGS, and so on, are also available online.
This feature is not limited to B2B platforms. Every eCommerce platform should enable responsive design in order to appropriately render your site contentacross numerous devices.
New-age purchasers want to switch between several ways of payment during the purchasing process, and this technology enables such behavior.
Some B2B companies allow pre-registered consumers or sellers to order things from their online stores or shops. If your firm sells through a network of vendors, for example, your website should be constructed such that only approved merchants can access it.
Make sure your eCommerce platform is password-protected and only accessible to consumers. You may also restrict unregistered consumers' access to certain areas of the site, implying that the landing page and product list are available to everyone.
The self-service purchase feature is a huge benefit in B2B eCommerce. Before completing a purchase, B2B customers want the relevant information to decide on their preferred product/solution, such as shipping details, quote approvals, and so on. Ascertain if the platform permits your eCommerce website to provide the aforementioned functionalities.
In addition to platform kinds of features, integration is an important component to consider when selecting a B2B eCommerce platform. It should interact well with your other systems since this will guarantee that your online and offline channels perform in tandem.
A well-integrated website can help you become a more efficient multi-channel vendor and provide a better client experience.
When comparing systems, consider how they will integrate with your ERP or POS system. "Will your platform be able to manage information that comes from your suppliers?" ask yourself.
Not all eCommerce systems are simple to integrate; some are more straightforward than others. It will be easier to arrange a cloud-based platform with a rich API than a self-hosted solution.
Some service providers will combine all of your systems to enable consolidated order and inventory management.
To save time and money, be sure to inquire about connectivity with your B2B eCommerce platform provider ahead of time. Don't make the mistake of investing in a completely new eCommerce platform only to discover that it cannot interact with your ERP.
While the basic B2B eCommerce characteristics described above are important to look for when selecting a platform, let's now look at some of the key questions that will help you make an educated selection.
It takes time and effort to launch a successful B2B eCommerce app. It takes time, research, and money. You must provide sophisticated features to your clients to ensure that it functions as planned.
This article has given you a general overview of how toselect the best B2B eCommerce platform for your company. To create a flawless purchasing experience for B2B buyers, however, you must work with a top B2B eCommerce website developmentfirm. They will understand your company requirements and will assist you in growing your b2b eCommerce business.
The goal of digital B2B commerce is to provide a consistent, relevant, and personalized purchase experience. OroCommerce software is designed for mid-market and enterprise B2B organizations, whether they are new to eCommerce or need to enhance their present B2B website.
What sectors may benefit from B2B e-commerce? B2B e-commerce is no longer exclusive. Anything may be sold online if there is a market for it and an appropriate platform to support it.