Though the term eCommerce is familiar, only a few have realized its actual implications. Business transactions through the internet are known as eCommerce. The global market today is very competitive. Hence, raising an online presence has become a necessity for every organization. No matter whether you are running a small business or a B2B enterprise, starting an eCommerce portal can introduce your brand to the markets far beyond those which are currently in reach.
If you are running a B2B business and still not online, it's high time that you show your online presence. This article is to give an insight into the benefits of taking B2B business online or to a digital platform.
Why Go Online?
Companies not investing in digital platforms today are struggling to compete with the existing and emerging rivals. This is a costly mistake that can reduce your potential customers and lose out on millions of dollars in revenue.
Today, customers purchase more online than through other channels. By going online a B2B business is expanding its reach from a neighborhood customer to a national, or even international base of potential clients. This immediately affects the sales and marketing efforts.
An eCommerce website will bring more advantages to a B2B eCommerce trade. Market opportunity available for the B2B eCommerce sector is currently over 6 times the size of B2C (Business to Consumer) eCommerce business.
According to the researches conducted by Forrester, 74% of B2B buyers choose websites over a sales representative as it is more convenient. 93% prefer to buy online when they have fixed their choice. Again the studies also show that B2B E-Commerce is expected to generate the US $12.2 trillion market opportunity in the industry. If you don’t think this will affect your business, you are wrong.
- Online orders
- Offline orders
- Product data
- Customer data
- Shipping and tracking information
- Backorders and many more.
Benefits of B2B eCommerce
The B2B eCommerce platforms will make you a familiar brand in the business directories all over the world. Thus increasing the reach and making the brand name more familiar among potential customers.
The online presence of your organization through web pages, social media campaigns, or public-facing catalogs can increase the chances of getting more and more B2B clients and brings imminent business opportunities as well as sales.
Streamline Potential Customers
Making the interactions more reliable and efficient in the B2B eCommerce can streamline potential customers.
Transparency and Efficiency
Integrating the ERP software with the web portal can reduce the gap between the order and dispatch of a product or service, thus enhancing efficiency. This integration provides the up to date counts from the warehouse. Hence, the seller agent and the customer always know what is currently available. It helps to avoid the mistakes of ordering and the inaccuracy in fulfillment.
Better Customer and Supplier Management
B2B eCommerce websites facilitate the effective management of both your suppliers and your customers. The custom made B2B eCommerce portals on the internet assists the customers to manage their orders and update the information. This eliminates the need for taking feedback directly from the seller.
You will get up to date information regarding the raw inventory in the warehouse and the order in progress. Thus you can also manage your suppliers effectively.
More Sales And Sales Engagements
eCommerce facilitates quick implementation of the automated up-sell and cross-sells program of recommendation. This will gradually provide suggestions to clients on your site and make them buy related products containing more functionality and features. Thus increasing sales.
eCommerce facilitates easy evaluation and measurement of sales effectiveness, product mix, marketing campaigns, inventory turns, client engagement, and client sales effectiveness. Thus it acts as the perfect platform for launching an analytics campaign.
Integrated B2B eCommerce
Integrating the eCommerce platform with your B2B organisations ERP(Enterprise Resource Planning) system can streamline the operations and simplify the buying process. This ensures customer satisfaction. This provides a unique insight into the data that matters to your business. This includes:
An integrated eCommerce portal evaluates the detailed sales statistics for each of your customers.It also calculates the order totals, revenue, profit percentages, or even discounts within a specific period. This detailed data eliminates the need for vague estimates.
What Do You Need To Go Online?
You need a platform that significantly adheres to all your business requirements and with effective capabilities and functionalities. You need software that is flexible and budget-friendly with self-service tools and integration availability and B2C- like experiences.
For this, we are happy to introduce Netsuite SuiteCommerce’s advanced facilities for your business. Netsuite is the #1 cloud ERP offering suiteCommerce support from the legacy of Oracle. Sometimes you must possess an ERP and with Netsuite, you can easily migrate your data and online order.
The primary objective of every business is to generate more revenue. eCommerce is an integrated online platform to serve the stakeholders effectively. Moreover, it reduces the cost of a sales representative. Hence, it is important to upgrade yourself for a digital transformation. If you are searching for reliable assistance to take your business online, Jobin and Jismi IT services is the right choice for you. Schedule a free consultation today and discuss your concerns with our experts. We help you go online.