Recent research shows that the B2B eCommerce in the United States is projected to grow up to $1.8 trillion by 2023, which will be 17% of the B2B sales. The rapid growth of eCommerce in recent years has prompted many businesses to consider online solutions. If you’ve not made the transition, you’re missing out on a host of benefits. As your company continues to grow, you need to identify the online tools that will help you grow. Here are the reasons you need to use B2B commerce for your brand.
1. You’ll Reach a Wider Pool of Customers
Selling items online has been gaining significant attention, especially in the last decade. With B2B commerce, going digital is one of the best ways to reach a wider pool of B2B customers. The rise in internet use has increased the number of potential consumers searching for products online.
Once you create a B2B website, you can access buyers anywhere, anytime. B2B eCommerce allows you to reach people in different locations, new stores, and product catalogs, among others. Your B2B selling will be more relaxed, and you will access people that you’d never reach with your offline selling.
It would help to get Google indexing for users to find your website. Given that 85% of all internet users do online searches every month, you can be sure that your site will get the right attention if you’ve worked on the optimization. With time, your website’s traffic will convert, giving you a chance to sell your products to many other businesses.
2. Online B2B Commerce Helps to Understand Buyers’ Behavior
A website allows you to understand your market’s different needs. When running an offline business, it’s almost impossible to track information such as the items specific buyers keep purchasing, the quantity, and the buying cycle. Keeping up with the trend can be complicated, and you might have to deal with endless documents.
B2B eCommerce, on the other hand, allows you to monitor buyers’ behavior. You will be able to tell the products in higher demand and the quantities ordered by most clients. More importantly, you’ll know where you’re getting most customers to establish areas you need to expand the business.
The information will further help you establish whether it’s the best time to consider direct-to-consumer sales strategy. Your findings might make you realize that you’ll get more sales if you combined B2B with D2C. Analyzing your site visitors will give you insights that you’d have never obtained with physical stores.
3. Improved Customer Service
Adopting a digital marketing strategy is one of the easiest ways to have customer-centric support. A website gives you a range of opportunities to provide customers with a delightful experience. From timely feedback to valuable content, you can appeal to your customers in different ways.
Today, users often search for services online before visiting a physical store. B2B websites provide self-service portals, product descriptions, product shipping, history, and delivery details. The sites are informative, and customers tend to have a commendable experience. Customers can send their queries through the website for prompt assistance.
Ensure that your site has valuable content, interactive functionality, and a great guide for optimal customer experience. If your B2B commerce has been struggling to maintain exceptional customer service in offline stores, creating a website will allow you to redeem yourself.
4. Boost Your Online and Offline Sales
For B2B companies that want to improve their salesforce, going digital is a wise move. B2B eCommerce sales are growing at a high rate. You need to take advantage of this shift to improve your online and offline sales.
You can boost your eCommerce sales by launching campaigns with reward points based on the orders. Exclusive discounts to customers placing their orders online will also increase your online purchases. Your strategy should be attractive enough to prompt clients to make online orders.
The B2B website also increases offline sales as customers finding you online can walk to your stores for purchase. Ensure that the services you offer online are consistent with your online offers. The last thing you want is negative reviews after a visit to your physical shop!
5. It Is Easier to Retain Your Repeat Customers
The dream of every business owner is to retain their loyal customer as they attract new ones. Repeat customers are essential to a business as they help to maintain the flow of revenue. When you create a customer profile, it will be easier to track customer activity, such as repeat purchases.
B2B eCommerce sites allow you to identify some of the customers’ pain areas. You can address the concerns for increased customer loyalty. As a result, the clients will feel more valued, leading to repeat visits and higher revenue generation.
Businesses with high repeat customers can allow their clients to subscribe to the services they deem helpful. Such subscriptions make it easier to serve your repeat customers.
6. Compete Favorably
Wholesale businesses are prone to competition, just like retail. Unfavorable competition makes B2B commerce get limited profit margins. However, taking advantage of online spaces will allow your business to be more efficient, be unique, reduce costs, and outdo the competitors.
Online spaces give a myriad of opportunities to differentiate your business from others. From the valuable content on your site to the appealing website design, you can work your way around to attract more customers. If you’re unsure how to go about the whole process, seek professional services to make the transition.
Online B2B Commerce Has a Significant Impact on a Brand’s Growth
The best time to move your B2B commerce online is now. As it stands, more and more people are opting to shop through the internet. You will experience considerable business growth as the potential buyers increase.
If you haven’t taken advantage of this innovative technology, your competitors are having a field day! Online platforms provide businesses with a range of opportunities. Embracing the change will have unimaginable benefits for your B2B commerce.
Are you in need of B2B commerce services? Contact us today for digital solutions that will make your company a household name. 6 Street Technologies has been a Salesforce B2B Commerce Partner since 2012.