So what do your buyers expect from you?
One of the most important and challenging is to have an online e-commerce store and use digital channels to showcase every information about your products or services online. It helps out to make a buying decision.
And maybe you are expecting immediate sales. This is often not the case B2B and happens only in the B2C space.
We present you with some interesting B2B eCommerce statistics to show:
95% of B2B buyers want to buy online, with self-sufficient information, directly from producers.
The International B2B market is expected to reach $8.7 trillion by the end of 2020.
Great, these are typical B2B eCommerce statistics that will be sufficient for you to understand the need for online.
Outperform the Competition
Wholesale markets are indeed very competitive. this has a direct impact on profit margins and at times it feels like survival for the fittest race. That is one reason producers need to be different, innovative and more efficient. Furthermore, having an online B2B store for your business is a quick method to beat the competition.
Understand your buyers and their behaviour
It’s not easy to monitor how many buyers are interested in a certain product for an offline business. You cannot analyse the buying cycle for your customers. But in a B2B online business, you can monitor this thanks to the insights that the platform can provide you.
Your B2B online store helps out you to understand:
- which products are in demand
- What is the quantity ordered for each product?
- What discounts are appealing to customers and when?
- What’s the scope of expanding your business in a specific location?
Boost Brand Reputation
“If there is a business, there is marketing.”
If you want to become a well-known brand, you have to reach a much bigger audience. Moving online will get you just that as potentially anybody can visit your store without any geographical restrictions.
Once you have an online B2B store you can easily target your customers anywhere at any time. this will boost your brand and returns.
Boost offline sales
Customers can have difficulties navigating your store and making orders. if you have an online store and have full information about your products. He can discover the product and then finalise the prices by ordering in a classic way i.e. directly from you.
Subsequently, and with some guidance, customers will move little by little to the online channels as it is more convenient overall.
5. A 24×7 store
If your B2B business is offline, you cannot be always. However, when online, this is no longer a problem and orders can happen anytime, anywhere! Your business will be open even when you are sleeping, travelling, eating, biking, hiking, etc. if you get that more and more automated, imagine the potential impact on your success!
Automate your sales workflow
In an offline store, you have to manage all the processes from product buying to get payment. You have to manage and maintain the inventory. But with an online store, everything is managed at one place automatically by developing an online e-commerce store.
Boost Overall Sales
B2B eCommerce sales are expected to reach 8.7 trillion USD by the end of 2020 and will outgrow B2C sales (Source, CMS-Connected).
So how you practically achieve this shift:
- you can ask every customer to look for the product online on your eCommerce store and then place an order.
- You can offer a special discount for every customer to place orders online.
- You can run campaigns that should be limited to the customer who buys products online will get a reward.
Business growth globally
With an online business, you can get customers globally. Your business knows no borders potentially. Of course, you need to get the product, price and all logistics right, but in terms of visibility, everyone with an internet connection can see your store!
Improve Overall ROI
Every business wants to boost its Return on Investment or “ROI” with limited resources. In the case of an offline business, it’s too much complicated and investment of time and hard work daily. But with the online B2B eCommerce store you can get this within limited resources within a short interval of time.
Now is the Right Time
So, when are you coming up with the online B2B eCommerce store?
After looking at such huge benefits of having an eCommerce store for your B2B business, this is the right time to invest in it.
well, the B2B industry is growing and you will also.
And, if you are convinced to start and grow your business through an online store, Prowexx has precisely developed a solution for you so you don’t have to be too technical, you don’t need to invest in digital marketing yourself and you already have a UK buyers base on the platform so all that you have to do is to get your marketing material right and open a free account to be exposed straightaway to the UK audience initially and to a larger B2B audience very quickly after that.