A Comprehensive Guide to B2B E-Commerce Platform Options
B2B e-commerce involves online business between two companies or businesses, say a wholesaler and a retailer. Hence, it is commonly known as wholesale e-commerce that serves other businesses as customers.
A portal that facilitates this type of business is known as a B2B e-commerce platform. These platforms are the next frontiers in e-commerce with an estimated market share of about $12.2 trillion.
These platforms come with numerous benefits to any business that makes good use of them. According to business analysts, here are some top benefits.
· Your business will enjoy a new set of customers from the marketing efforts facilitated by these platforms. Large B2B e-commerce platforms enjoy big brand names that are known all over the world. Hence, it is easy to get new customers. After all, they are consistently marketing their brand and gaining a positive reputation. Customers (businesses) come looking for businesses associated with them.
· Distributors using reputable B2B platforms are not only at an advantage to streamline their businesses but also to interact with other sellers who motivate and inspire them to aim high. The competition on the platforms encourages B2B companies to grow and scale up very fast.
· Using a known and popular B2B e-commerce platform increases your business profitability within no time. If you are looking to grow your online wholesale business, this is the direction to take. Since this is the bottom line of any business, it is important that you choose a B2B e-commerce platform to work with well.
· It helps you to leverage big data and make the right decisions for your business. These platforms have the right AI to keep data and share it with the B2B companies that use it. For instance, you can easily know how your competitors on the platform are doing, the number of customers you have been serving, and a lot more details.
If you are researching the best B2B e-commerce platform or software to use for your business, then you must have come across a lot of information talking about the features to look for. Yes, it is important to make this consideration, whether your business is new or not.
That said, let’s go through the important features to look for.
· Detailed product information and images – When using a B2B e-commerce platform, you will have an easy time adding information for every product, removing the unneeded details at any time, and even adding high-quality images. However, there should be a guideline on the type and size of images to add for the website to function properly.
· Responsive search button – B2B customers should find products fast and in an easy way. This is why your preferred B2B e-commerce platform should have integrated search functionality that will locate any product they type within seconds. There should be a search bar that can make suggestions.
· Order tracking engine – Still, this is a feature to benefit your customers. Make sure that the order tracking feature maintains accuracy to gain customers’ trust. Fortunately, modern technology synchronizes even GPS and maps to locate where your orders are in real time.
· Secure payment-processing engine – B2B companies might not work like B2C companies, where customers must pay at dispatch. They sometimes use credit terms, especially with their repeat customers. Hence, the software or platform they use must provide a detailed, secure, and flexible payment feature.
· Real-time inventory management – To increase accountability and transparency in a B2B company, it is important to have a functional inventory management feature. It is the same feature to help you in reordering stock and maintaining a minimum order level so that your customers will never miss goods.
· Customer support – When you offer appropriate customer support, you are likely going to retain them. Hence, you need B2B software with tools to communicate with clients in real time and respond to their queries. The platform should simply manage your website’s contact page and FAQs page. It is a simple integration if you use an appropriate B2B e-commerce platform.
· Virto Commerce – This is an e-commerce solution platform with many solutions including B2B e-commerce solutions such as web shops, management tools, and marketplace synchronization for goods. According to their website, which you can click to investigate, they are capable of handling any e-commerce ERP to digitize their operation. With Virto Commerce, your B2B online company can build a viable website, sync with markets, or better still, sell directly to customers.
· TradeGecko – If you are looking for a B2B e-commerce platform to enable you to customize your wholesale business operation, this is a reliable platform to use. Your customers can enjoy customized discounts and click secure payment systems. It is available worldwide, which means connecting a business globally. With regular updates, your B2B online business is assured of new features every now and then.
· 3DCart – This B2B e-commerce platform is known for its focus on marketing. It has tools for SEO, email marketing, and social media enhancement among others. With hundreds of templates and themes, you can easily design and customize your store in the right way. It connects your business and ensures that your customers enjoy a secure payment system.
· Magento B2B Commerce – When looking for integration with marketplaces and numerous online B2B operation capabilities, try Magento B2B Commerce. It is equipped with search and inventory management features to ensure the smooth operation of your business. With this platform, the power to grow your business online is right in your hands.
· Oracle SuiteCommerce – Any entrepreneur will admit that any solution from Oracle is very capable. Their B2B e-commerce platform is recognized by the Forrester Platform for helping businesses set up e-commerce shops, manage them, and market to new customers every day. Oracle’s B2B e-commerce platform is all you need to scale up your business.
With such an extensive guide on B2B e-commerce platforms, it is easy for any online wholesaler to make the right decisions and take their business to the next level. Are you planning to start an online wholesale shop? A B2B e-commerce platform is what you need. It could be a paid or a free platform, but what matters is the features it will deliver to your business. So, choose well.