B2B stands for Business to Business. While B2B e-commerce means the electronic transaction between two or more businesses over the internet, the main features of a profitable B2B e-commerce business include:
At the end of 2017, Business to Business e-commerce was calculated to be worth a global total of $7.661 trillion. That is more than three times the B2C e-commerce market. In 2018, that number hit $10.6 trillion: over five times that of B2C.
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 in 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 e-commerce 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.
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 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 e-commerce 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 organizations 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 B2B e-commerce. The companies have to spend a lot of money and time on 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.
– 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
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