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11/01/2019 Bella Hilton

THE IMPORTANCE OF B2B ECOMMERCE WEBSITES

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It’s 2019, and if you haven’t upgraded your systems to include a B2B eCommerce site, then now is the time.

The thing is, your consumers are changing. You may have been in business for 100 years and have a good reputation but if you don’t change with the times your consumers will find easier means to purchase the things that they want.

More and more your consumers are going to be millennial who have grown up with technology and don’t just want it, they expect it. In fact, 89% of B2B research takes place online*.  So, if they can’t find you online and can’t purchase it online, in coming years, then they probably won’t.

Reaching more potential businesses and growing your customer base

One of the biggest advantages of having a B2B website is the ability to be more visible and have greater reach – which essentially means reaching and acquiring new customers more easily and increasing your customer base and bottom line.

The facts remain, B2B eCommerce sites have higher order values and higher conversion rates (10%), than B2C sites (3%)* so your marketing dollar goes a long way online in attracting new customers.

And the biggest advantage is that it is 24/7, 365 days a year, not just at the stands at the local trade show twice a year.

Communication is enhanced with an eCommerce solution

If you set-up your systems right, communicating with your customers will also be much easier.  

With a B2B website, your customers will have clear visuals of exactly what they are purchasing, know what is in stock and potentially, for popular sold out items, when it will be back in stock. They can do this at any time of the day or night. Meaning you could be making money after hours not just from 9am-5pm. Who doesn’t like making money while they sleep?

Your customer will also be inputting all their details and will receive clear instant invoicing, cutting down the need for many manual processes.

You will also be able to easily create campaigns for stock on-sale which encourages stock turnover.  Your product pages also create the opportunity for a cross-sell or up-sell – which a plain spreadsheet ordering form doesn’t.

Faster order fulfilment

A B2B eCommerce website also allows for faster order fulfilment with cloud-based eCommerce systems.

Old complicated purchase order forms make it almost impossible for your customer to know exactly what they are purchasing, let alone what is still in stock. We’ve had a client tell us it is almost a wing and prayer to order stock from some companies and see what turns up that month.

The manual labour involved in then having to decipher the form at the business end, fulfill the order with pick and pack and get it all off to the right address in a timely fashion is next to impossible.

Changing to an online eCommerce system doesn’t have to be daunting – in fact, it can be exciting and change the efficiency with which you do your business and allow you more time to work on your business more effectively.

A change to an B2B eCommerce system can provide a seamless platform from ordering, payment, confirmation, shipping and tracking.

Get ahead of the competition

Not everyone is embracing the change to doing business online, so you have the opportunity to get ahead of the competition, improve your business operations and work through any teething issues well in advance of it becoming a complete necessity.

Some other pros and cons

Cons
Not having a B2B eCommerce site
Pros
Having a B2B eCommerce site
Difficulty in reaching potential
customers in a timely fashion
losing out on customers and sales
Stay ahead of the competition and
reach more customers all year
round where your customers are
searching for you
Complicated ordering forms that
don’t allow customers to see how
much it is all going to cost

Being able to cater to millenials (aswell as other clients who might
prefer the old-fashioned ordering
method)
No real visual for the customer of
what they are purchasing
Customers know exactly what
products they are purchasing and
how much it costs
More customer and office manual
labour
Ensuring that clients can
self-service at any time of the day
or night
Having to call customers when
items are out of stock
Up-to-date stock levels online so
your customers always know whatyou have on hand
Having to call customers to advicewhen stock will be inClear catalogues so the customer
can actually see what they are
purchasing instead of guessing
Limited knowledge of stock levels
and how they are selling in real
time
Less manual errors for the business
Separate payment systemsAutomated confirmation emails to
the client of exactly what was
purchased
Manual notification of shipping
and tracking or not advising your
customers at all
Transparency of service
No transparency of serviceGreater ability to communicate anddevelop relationships with your
consumer base.
More room for error to creep in
with all the manual processing
Makes business operations more
efficiently
Lack of communication Up-selling and cross-selling
opportunities

The benefits of having a B2B eCommerce site are too high to be ignored – in fact, with the way things move it could just mean you start to see a serious downturn in your profits in the coming years.  If you aren’t constantly innovating in the digital space then you are running the risk of being out of business entirely.

If you want to stay ahead of the game and seriously talk about getting your B2B business online then talk to The Playhouse Group.  You can also check out some of the work we have had the pleasure of completing with B2B businesses such as Taylors and ADMA.  Call us on +61 2 8096 3469 today  for a free consultation to discuss your needs.

*https://b2xpartners.com/b2b-ecommerce-trends-and-statistics/