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What is B2B ecommerce?

January 24, 2020
Asfand yar

Introduction

B2B ecommerce Marketing

What to Look for When Evaluating a B2B E-Commerce Solution

Introduction:

B2B stands for Business to Business. While (Business-to-business) B2B ecommerce means the electronic transaction between two or more businesses over the internet. The main features of a profitable B2B e commerce business include:

  • Utilizing the online sales.
  • Utilizing the CRM systems.
  • Focusing on the buyer’s intention and the journey from lead to the revenue.
  • Identifying and figuring out the buyer’s behaviors.
  • Working on the diversification of the sales channels, with online components

At the end of 2017, Business to Business ecommerce was calculated to be worth a global total $7.661 trillion. That is more than three times the B2C ecommerce market. In 2018, that number hit $10.6 trillion: over five times that of B2C.

B2B ecommerce Marketing

There is a huge shift towards the B2B e-commerce market. Most of the B2B buyers do a lot of research online before reaching out to a supplier. There is a huge rise of self-service among B2B customers. They want to access their orders and accounts online. Most of the people want the orders and deliveries to be made online. The B2B ecommerce industry has a lot of business models. In the past few years, the distributors grew exponentially, manufactures exhibited rapidly, so many retailers were acquired and a lot of whole sellers were gained.  

The global B2B ecommerce had a market value of $10.6 trillion in 2018. The growth has only increased now.  A huge majority of manufacturers who haven’t stated an e-commerce site plan to start on pretty soon.  B2B e-commerce has become very significant to the global economy. According to the most recent predictions, by 2020, the B2B e-commerce revenue will be around 6.7 trillion US dollars. 

To completely understand what business to business e commerce is, suppose a complex network of cross-company transactions and supply chains that stand before the range of goods in a supermarket. Every purchase is supported by B2B sales. B2B (business to business) works on sales of the services, products, or information to other businesses, and stands in contrast to B2C (Business to Consumer) and B2G (business to government) models. These principles of the ecommerce marketing include the same concepts, but B2B depends importantly on the important business relationships to get long-term involved consumers. The success factors of the B2B leaders include the impressive account management team, perfect optimization of the process, and the valuable elements from the innovations of the technology.

The Internet lets the organizations to focus on their prospects. The online presence helps the companies to get a lot more customers via advertising on the internet.  According to the researches, more than 90% of the searches of the products on B2B level start with search engines. The internet is a major part of the trade channels for the B2B e-commerce. The companies have to spend a lot of money and time on the digital marketing. They have to work with the Search Engine Optimization too for increasing their rankings in the search engines. They have to make sure that they are easily discoverable. The website should be user friendly and it should provide all the information a user is looking for.  

What to Look for When Evaluating a B2B E-Commerce Solution:

Can the solution accommodate these business models?

– Moving from physical sales to a subscription model

– Altering focus from enterprise to SMB customers

– Offering Complex, highly configurable products

Find out if it will:

– Ensure a seamless customer – Omni-channel – experience across touchpoints

– Provide all users with a single view of the customer information

– Generate automatic and accurate invoices

– Allow customers to start a transaction online, but finish with an AE or sales rep – while seamlessly passing the needed information between each

– Allow collaboration with partners and resellers

For further details get in touch today.

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