Reasons to add e-commerce to your B2B business
If you’re planning to revamp your company, with a focus on growing and cost reduction It’s the perfect time to think about installing an e-commerce B2B system. You can take this one step further by connecting with your ERP and you’ll have an unidirectional stream of information that is live. There are many advantages of this, such as simplifying your business processes as well as generating satisfied customers and employees. It’s a win-win for everyone, and satisfaction for everyone.
What are the benefits of incorporating e-commerce into your B2B company?
A B2B online business involves wholesaler, distributor or manufacturer that sells through the web to companies which in turn sells to other companies or the end customer.
Because of their nature, B2B business transactions tend to be more complicated than transactions in a retail store. There are typically contracts that are specific to the customer and, since large quantities of inventory are typically involved controlling inventory levels is essential. The risk of making mistakes or, at the very minimum, inefficiencies, are extremely high if you don’t have a B2B e-commerce solution in place.
The best part is that B2B is easy to setup with OrderCentral and can be tailored to fit your business’s processes and existing technology. There aren’t any hidden charges and you’ll know in advance what you’ll get (and paying for).
Let’s look at how this will benefit you.
1. Increase your sales by offering an open catalog
Increase your presence on the internet by moving from a closed platform that is restricted to customers who are current and to an open and public one. That means that when you create an online marketing campaign, your products will be listed on search engine results. Customers who are interested in your products can discover you, regardless of either as resellers, or customers looking for a retailer of your product.
2. Sell deeper and wider
The well designed B2B portal lets customers view the variety of products you offer in a glance, much better than a traditional hard catalog. This means that they can consider other items that they might not have considered in their regular purchases. With a great search feature, and they’ll locate exactly what they’re looking for. B2C features like reviews, or recommended or related products are increasingly expected by B2B customers. These features can help enhance you’re worth of purchases as well.
3. Increase Your Average Order Value (AOV)
Your B2B eCommerce system must provide customers with specific (volume) discounts in order to attract more orders. It should also accommodate up-selling and cross-selling related products, reviews and recommended ones at an absolute minimum. Furthermore, it should be able to be integrated into a marketing automation platform to send personalized emails that offer free shipping or gift cards over certain thresholds and/or bundles of products that might be beneficial for your client.
4. Increase the sales of your customers (and your own)
Even if you decide not to implement droppingshipping completely like we have described in our B2B123 model managing your product’s information throughout the line can have many advantages. Making sure that your customers are using your B2B online e-commerce solution provides them with appealing product images, detailed information about the product and accurate inventory levels. The system is proven method to boost sales on your items. Automate as all the steps as you can in order to maximize the benefits of this.
5. Your sales team can be freed up to increase sales
In many businesses sales or customer service teams are able to spend the majority of their time serving an extensive number of small customers, handling questions, orders, and delivery. With an e-commerce B2B system it is so that the process can be automated so that these customers can manage their own needs. Your sales team is free to have a more impact by providing support to customers who are looking to expand or who are in danger of being evicted or require attention. The customer service team can concentrate on providing high-quality assistance where it is needed.
6. Increase efficiency and speed of fulfillment, and reduce the chance of errors or delays.
If your customers make orders on your B2B online electronic commerce system, those orders will be automatically reflected in your ERP system, too. Don’t have to wait for someone in your team to enter information to the ERP system There aren’t any mistakes in translation. The order fulfillment process starts immediately, which results in quicker delivery to the customer.
7. Manage stock levels closely
Once an order has been placed into B2B, instantly updating your ERP system, the inventory will also be updated automatically. This is not only the case. If your stock levels are adjusted by the ERP system, your B2B system is also adjusted. In turn, the stock levels of both systems remain up to date and exact, allowing clients to trust your information and allowing the ability to control the re-ordering process (and consequently your cash flow) more precisely. If you connect to the suppliers you use, you could even automate order processing when inventory drops to a level that is below the minimum.
8. Connect your product and customer information
A B2B-specific e-commerce solution that is integrated into your ERP, gives you the central location for every customer and product information, eliminating the need for silos within your business. This includes information about the customer’s specific price levels, discounts, and the history along with the specifications of your products and levels of stock. Customers and team members can access the pertinent information through an easy-to-use user interface that is friendly and affordable that ensures everyone sings from the same hymnal regardless of where they may be.
9. Reduce administrative burden and streamline work through automation
When customer information needs to be entered in the system by staff members and costly errors are possible, wasting time and cost. Automating and integrating with your ERP will result in less errors, meaning that more orders can be completed in less time. This can save you money and builds your clients trust and confidence in your company.
10. Maintain customers through self-sufficiency and an omnichannel
With online access to all details they require and the option to place orders at any time of the day even at night. The shackle of business hours disappears. Customers can manage their own needs and this results in less paperwork and fewer calls and emails for your staff to manage. If they require personal assistance, or would prefer to utilize a different channel it should be possible to get it. To ensure they are happy be sure to provide choices for them to select from.
The final word…
Implementing B2B e-commerce into your company will allow you to simplify your processes and increase your profits while reducing expenses. Beyond the obvious benefits for you it will also improve your customer satisfaction levels and that’s helping to lay the foundation for success in the future.