What did the B2B world look like before the appearance of the internet? Of course, all transactions took place offline. In order to meet new contractors, it was necessary to establish personal relationships and exchange business cards. Then, networks of contacts were built and transactions were made most often among people recommended by friends. Although it is still worth attending business meetings and meeting people from various industries, the style of transaction looks completely different. Thanks to the Internet, entrepreneurs have the opportunity to expand their audience and establish relationships with very diverse contractors. E-commerce solutions have considerable merit in this. That is why so many companies willingly use them.
As the data collected during Forrester Research, the increase in B2B e-commerce shows no signs of slowing down. The opposite is true. It turns out that in 2018 in the US, USD 1 trillion was achieved in online B2B sales. This represents a 17% increase over USD 969 billion in 2017. What’s more, these numbers are projected to grow steadily, reaching $ 1.8 billion in 2023.
What’s the conclusion? If you operate in the B2B sector, you should invest in a modern e-commerce website. Thanks to this, you will join the unflagging trend and digital transformation in trade between companies. To find out that it’s really worth it, find out the reasons why your business needs e-commerce!
Your company’s activities and e-commerce platform
True, running an offline business has its advantages. You often know your contractors better, enter into close relationships with them, and understand their needs well. However, although such relationships are good for the proper functioning of the company, it is not said that nothing should change. Thanks to the introduction of the e-commerce offer, the company becomes easier to find and more accessible to a wider group of potential customers.
When is the right time to digitise your business? Probably never. There will always be a “problem” that gets in your way. That is why it is worth realizing that everyone, even a large company, is accompanied by a fear of change and it is he who causes the blockade. However, when it catches you, think about the transformation effect – new markets acquired and satisfied customers.
Find out 5 reasons why a B2B company needs an e-commerce platform
There are many advantages of implementing an e-commerce system in B2B operations. However, we focused on selecting the most important ones so that you can make the right decision easier.
Your clients’ orders are repeatable
You certainly have contractors with whom you have been working for some time. By observing repetitive transactions, you may come to the conclusion that you are their preferred supplier. So you get profits from their constant activity. Maybe it is worth creating a space for them so that they can order the same amount of products without unnecessary formalities?
According to McKinsey research, only 15% of customers want to talk to the seller when purchasing identical products or services as before. To meet your customers, on the e-commerce platform you can create the opportunity for them to quickly buy new products again. Without having to contact a sales representative. You can also offer them similar products or services to those they have already used. Thanks to this, both parties will save time and make a satisfying transaction.
B2B customers like to make transactions on the internet
Do you have days when you don’t have time to go shopping and order the products you need with delivery? Similarly with your clients, for whom online transactions are a great help. If they do not find this opportunity from you, they will go to your competition, and in the end they do not care about your company.
It even turns out that B2B purchases are becoming more common and slowly outperform offline transactions. So if you want to remain visible in the industry, you need to create the right conditions for it and take care of the convenience of your customers.
Better than before adjusting the offer
Do you know who your competition is? How big is the number of products similar to yours on the market? Do you want to expand your customer base, but you don’t know how to reach them? All the above questions are answered by the e-commerce solution.
Thanks to a professional and comprehensive website, you will guarantee your clients the ability to quickly reach the products they are looking for. This in turn, in combination with appropriate analytical tools (e.g. Google Analytics) will allow you to collect data on them. With this information, you’ll be able to design your entire marketing strategy and identify the needs of your audience. From market analysis, through creating advertising campaigns and customer acquisition, to improving customer service and the entire purchasing process. Thanks to such activities you will certainly meet the needs of B2B contractors and gain an advantage over your competitors. It will also enable your company to grow.
Satisfying the growing expectations of customers
The availability and ease of making purchases in the B2C sector is largely shifted to customer expectations for B2B transactions. Everyone wants to achieve their goal as quickly and as efficiently as possible. Therefore, the real convenience is when without leaving home you can order the selected product directly at your door.
Although B2B purchases are often more significant than occasional retail purchases, the latter have had a huge and irreversible impact on the B2B industry. Expectations have risen and we can do nothing but match the quality of services to those to which our clients in the B2C sector have already become accustomed. By offering this type of experience, you gain an advantage over other entrepreneurs still operating in the old business model.
Updating an outdated website
Technology advances in every area of life. It happens regardless of whether we are ready or not yet. The same is true for companies. This situation particularly applies to websites that are often not adapted to support transactions or are completely outdated.
If a new customer finds your site that seems outdated, does not have the appropriate functionalities or is not adapted to mobile devices, it will leave it and go to the competition. Why? Because this is how your site looks, translates into your image as a professional. Unfortunately, the outdated website is associated with low quality of services and general incompetence.
Although your B2B website originally helped you spread your wings, today it can be an obstacle. Many of the old pages are difficult to navigate and unintuitive. They cannot be equipped with modern contact points such as chatbots. There are also problems with the presentation of products on them, e.g. in the form of videos and 360 photos. Sometimes it turns out that this type of service is more expensive to maintain than creating a completely new e-commerce platform.
Do you already know that it’s time for a change? If so, you have definitely made the right decision. Put on the new e-commerce platform now and take your business to a higher dimension of business! Gain new customers, develop individual company segments and increase your profits.