10 benefits of a robust B2B ecommerce website
70% of B2B leaders prefer digital "do-it-yourself" or remote options for making business purchases. But, many B2B customers still stick to old-school phone & fax orders. It's clear why - online ordering systems aren't quite up to their standards. Keep scrolling to find out how you can improve your e-commerce presence and why it's a smart move for happier customers and healthier profits.
Nowadays, manufacturing and distribution customers are looking for the same shopping experience they get from Amazon - customized based on past buys and a simple interface to navigate efficiently.
If your customers aren't naturally drawn towards your online portal, it could be because it doesn't offer this type of experience, usually flunking in one or more of these three areas:
- Simplicity: The whole point of websites is that they should make ordering a breeze compared to former methods like calling or in-store purchasing. Smart use of user-friendly design ideas and AI-powered site search can make your site superior to traditional buying channels.
- Personalization: Platforms that ignore specific needs lack and intelligent targeting fail in comparison to those that do feature personalization. For example, let buyers choose their favorite way to order—through uploading a purchase order form, firing off a quick email, or just sending a text message. It's also better to only display specific products that they are permitted to order (based on factors such as location, contracts, licenses, etc.) along with recommendations centered around their past purchases.
- Trust: If your site's missing dependable product info or real-time inventory and exact pricing data, your customers will probably stick with the tried-and-tested routes of verifying orders before placing them. Using Product Information Management (PIM) tools, data feed tie-ins and AI-generated product content can help you scale accurate and complete info all over your website in an easy way that builds trust with customers when buying without needing any human help.
A tailor-made B2B online sales solution can offer endless pluses if you roll it out the right way. Don't miss out on these benefits thinking that low digital adoption in your business right now means your e-commerce investment won't pay off!
Top 10 advantages of having an e-commerce site purpose-built for B2B businesses
1. Increased self-service
A top-notch B2B e-commerce platform lets your customers take charge, making it easier to keep up with ever-changing market trends and what your customers want. Features like PIM for comprehensive product info (pictured below), order management tools customers can handle themselves, and simple checkout processes help crank up self-service orders.
Image source: Optimizely
Websites that make finding the right products and buying them a no-brainer, ditching the need for anyone else to step in, benefits your customers and profit margin alike. By boosting what your customers can do by themselves, you're set to take on more orders and keep more customers happy—and that means long-lasting, money-making relationships.
2. Reduced cost to serve
A top-notch B2B e-commerce platform lets your customers take charge, making it easier to keep up with ever-changing market trends and what your customers want. Features like PIM for comprehensive product info (pictured below), order management tools customers can handle themselves, and simple checkout processes help crank up self-service orders.
Websites that make finding the right products and buying them a no-brainer, ditching the need for anyone else to step in, benefits your customers and profit margin alike. By boosting what your customers can do by themselves, you're set to take on more orders and keep more customers happy—and that means long-lasting, money-making relationships.
3. Increased operational efficiency
An E-commerce integration with the enterprise resource planning (ERP) system and other backend business systems offers substantial efficiencies for B2B businesses. Since customers can place orders online at their convenience, businesses can shift focus to providing superior customer service, moving beyond mere order taking.
In addition, automating order processing and workflows eliminates the need to manually input data in separate systems, thereby minimizing errors. This further enhances the shipping process's efficiency leading to increased order throughput.
4. More revenue per customer
A B2B e-commerce platform isn't just about reaching more customers with a digital channel. It's also your ticket to supercharged upselling or cross-selling, thanks to smart recommendation systems that know exactly what your customer needs when they're on-site.
Think about it... with a top-notch e-commerce tool, you can zero in on and channel your resources for campaigns that'll really make a splash. You can focus these efforts on folks based off where they live, how they behave online, and what devices they use to amp up engagement (pictured below). Plus, you've got the power to notice when customers start getting bored so you can reel them back in with targeted content that gets them clicking and buying again. This way, you're increasing the cash each customer brings in.
Image source: Optimizely
5. Better customer retention
You know what's cool about running a B2B business on an ecommerce platform? It lets you take your customer service game to the next level. With an ecommerce site, your customers get their own self-service corner where they can check out their account deets, past orders, and keep tabs on their shipments. This handy feature often leads to more repeat orders, fewer abandoned shopping carts and makes your customers happier because it's so easy to use.
6. More market share
Having a public catalog on a B2B ecommerce platform is a brilliant way to attract new customers. These eager buyers are not only loving the ease of researching and ordering online, but they also want it big time. As these B2B customers use the internet to scope out products and chase after the best deals, manufacturers and distributors can ride the wave of powerful search engines, connecting with potential customers faster than ever before.
According to MasterB2B's '2024 State of E-Commerce' report, about 33% of B2B shoppers start their buying research on a brand manufacturer’s website while 64% say that they do most of their purchasing homework online before deciding to buy face-to-face. This info really highlights how vital your website is for grabbing new customers, no matter who you are.
Image source: Optimizely
7. Boosting your brand's fame
Having your own ecommerce platform is like having a home for your brand on the internet. It allows you to promote your goods both near and far effectively, making sure your brand rules its own game. While third party B2B outlets might chuck a bit of extra spotlight on you, nothing beats having your own branded ecommerce site as the main tool for staying in people's sights online.
8. Better insights
In today's digital world, companies need to get their hands on data instantly and dig deep into it to make smart choices. B2B e-commerce platforms are a lifesaver for this need. They let businesses run all-out analytics campaigns to fish out useful insights - something you don't usually get with old-school phone-sales or face-to-face selling methods. Then businesses can strategize based on real, solid data - a feature often missing in traditional sales tactics.
9. Improved sales engagement
Hey, guess what? E-commerce is also a game-changer for the folks working in your sales team too! A good B2B e-commerce site or portal helps our sales team get real-time insights on how customers place orders, what kind of pricing works, and heaps of other valuable past info. It's basically like giving them an X-ray vision into customer behavior. Plus, it offers a brand new way to get customers to notice us in this day and age where thanks to caller ID we might be getting the cold shoulder! This is even more of a sure thing if your e-commerce platform is all hooked up with email, text messages or other digital channels.
10. Better everywhere-at-once online presence
Customers in the manufacturing and distribution industries nowadays employ various methods to conduct research and make purchases. It's critically essential to ensure that your customers can access the optimal version of your business, regardless of the mode of contact — mobile or laptop, email or Google. Think of your website as your primary online headquarters. If this headquarters isn't supported by stellar technology, it can severely damage your online reputation. However, having a well-functioning ecommerce site with everything consolidated under one umbrella will only enhance any additional digital channels you utilize - providing an edge over competitors and operating seamlessly.
The benefits of a simple, personalized, and trustworthy website can't be understated! By leveraging the advantages outlined above, businesses not only meet the evolving expectations of their customers but also unlock new avenues for growth and efficiency. A robust B2B e-commerce platform is the key to embracing the future of online B2B sales and propelling your business forward.
