ADVANTAGES OF B2B E-COMMERCE

The B2B companies are seen to think of using e-commerce differently apart from using it only in a consumer oriented way. The online selling is seen to have become one of the famous ways of getting an increased amount of revenue and draw new acquisition of customers. In this situation, the various advantages faced by the B2B marketers in the e-commerce field are as follows:  

The B2B e-commerce is seen to be one of the largest marketplaces with the prediction to reach $1.2 trillion in the US by 2021 and would account for 13.1% of total sales in the B2B marketing. This informs that B2B e-commerce is going at a faster rate and more sales in the future are going to participate in online transaction and buying of goods. The massive growth has been possible as a result of the involvement of the wholesalers and manufacturers. This is because it is offering them a better and more effective experience in operating their communication in the B2B context.   

The B2B market has been able to grow to such an extent because they have high average order values and the B2B buyers are quicker in making buying decisions. This is advantageous for the firms as they have the opportunity to collect increased amount of revenue for their firm in minimum time. The B2B sellers are seen to experience high conversion rate than the B2C which makes the B2B buyers develop greater confidence to buy. This is another advantage as high conversion rates are allowing more B2B buyers to pore in allows the B2B sellers to get increased consumers for their products without much effort. 

The B2B e-commerce is beneficial because it offers high speed for fulfillment of order by using the cloud-based e-commerce platform. In the previous era, B2B sellers often face hindrances with information regarding when orders are to be processed and in tracking their inventory status. However, with the present could-system, the B2B sellers are able to have direct conversation with buyers regarding when to process order and it even helps them to keep a track of their inventory. Moreover, the B2B sellers are able to execute complex process such as multiple warehouse shipping, partial delivery and others through e-commerce which is advantageous for them to execute their business in a smooth manner.

In the present era, millennial are the buyers who are required to be the main customers for B2B sellers to be attracted towards them. It is reported that 89% of B2B researchers use internet services for identifying B2B marketers. Moreover, e-commerce allows daily supply of new buyers with increased online habit which is advantageous for B2B marketers. This is because they are able to draw an increased number of customers towards their favour with ease.

The B2B websites are being developed more like the B2C websites where attractive contents are posted for the buyers and information are given regarding products by providing comparison chart to show how the products are better than the others. This is offering B2B sellers with opportunity to collect increased revenue and new customers. Moreover, this has led many of the e-commerce sites such as Shopify, Magneto and others to increase better B2B functional features in their platform. This has led the B2B sellers to have added e-commerce sites which are appealable to e-commerce savvy buyers.

The B2B e-commerce is still at the initial stage of growth and thus the B2B sellers at the present have increased opportunity to be above the competition in the market. This is because there are few competitors in the e-commerce industry related to B2B market thus each one has the opportunity to dominate others to become the leaders in the industry through delivery of improved services. Thus, the companies in this field can easily develop competitive advantage and use it for the better success of the business.

The use of e-commerce in the B2B market is advantageous because it has provided the opportunity to drive more new consumers. Since there is opportunity for the sellers to compare online thus they through detailed comparison chart they showcase their benefits related to the products in turn able to appeal to more buyers.  Moreover, the reach can be extended in this case from verbal to face-to-face communication allowing to develop an effective platform to increase followers for the business.

In the previous situation, the B2B sellers are only concentrated to attract B2B customers because they lack reach to the general consumers. However, with the rise of e-commerce, it has given the opportunity to the B2B consumers to extend their services not only to B2B customers but also to the general individuals. This has helped the B2B sellers to have an extended market. However, to execute this B2B sellers require developing attractive content and need to have a strong presence in the social media and in the digital market.

The addition of e-commerce has led B2B consumers to have a better buying experience and have provided improved selling experiences to the B2B merchants. This is because the online presence has allowed the consumers to find their required products easily, compare prices with others, detailed knowledge of processing their order and others. Moreover, it has lead consumer to have faster delivery of their products in an accurate manner. Thus, the involvement of e-commerce in the B2B market has led the sellers to offer better customer experience to the consumers.

The e-commerce has helped B2B manufacturers to effectively manage as well as control different supplier at once without fail. The manufactures just require having knowledge regarding what is the level of their current inventory and when the orders are going to come in flow. Moreover, the B2B e-commerce is advantageous because it has helped B2B manufactures to effectively suggest suppliers regarding what to order when so that they can experience the best prices for the products they buy. The e-commerce presence has also lower the time and money previous required by the B2B manufactures in managing their business thus allowing to have the opportunity to higher amount of profit to themselves without investing.