In addition to being much more than just online trading of products and services with other businesses, online B2B sales represent a very attractive business prospect for B2B organizations. It facilitates the entry of new markets and increases the number of purchases made by existing clients, for which b2b sales consulting also might be necessary.
E-commerce capabilities in B2B enterprises enable them to be more efficient and better positioned to differentiate themselves from their competition. Besides that, they can take better advantage of data and interactions and convenience, and new online partnerships to leverage commercial activity and distinction in hybrid business models.
There were times when a company bought raw materials from another for use in the manufacturing process, but today B2B transactions are a far broader operating model that encompasses more than just the supply chain. For that, today a B2B sales funnel is almost always needed to capture the leads, and you can click here to learn more about it.
These days, a company’s customers are defined not only by its product or service but also by how it communicates with them and how it uses the internet to sell itself. B2B comprises a wide range of businesses, including consultants, specialists, and providers of intellectual property, which are often structured through platforms where supply and demand meet.
So, what are the types of B2B eCommerce that a company can adopt?
Business to Business to Business (B2B2B)
The B2B2B (business to business to business) e-commerce model adds new links to the B2B supply chain, extending its reach even further. If, as an example, a normal B2B product journey would involve a manufacturer and a retailer, a B2B2B model might involve a manufacturer, a distributor, a second distributor, and a wholesaler, among other parties.
Business to Business to Customer (B2B2C)
The E-commerce model known as B2B2C (Business to Business to Customer) combines the B2B and B2C business models, allowing B2B companies to establish a safe link with the end customer. In turn, this enables the B2B vendor to make greater use of downstream consumer data in order to better target promotions directed at end customers.
Direct to Customer (D2C)
Because it bypasses the B2B paradigm, the D2C model allows typical B2B companies to sell directly to the consumer, as opposed to the B2B model. This assists the B2B vendor in increasing market share, brand awareness, and customer loyalty among end customers while maintaining their B2B sales channels in parallel operation.
Business to Many (B2M)
The B2M (business to many) e-commerce models enable businesses to offer their products and services through several channels simultaneously. This provides additional advantages and benefits for B2B enterprises. It allows them to sell to a broader range of target markets, thereby expanding their brand and customer reach and increasing their revenue.
Business to Employee (B2E)
Business to employee e-commerce is the most appropriate approach for major enterprises that want to centralize e-commerce for their staff and customers. In business-to-consumer e-commerce, businesses can sell office supplies to their office staff or specialized gear to their field employees.
Business to Government (B2G)
Business-to-government (B2G) e-commerce models are best suited for businesses that serve regional or national governments as consumers. For example, a company in the Defense Industry selling to law enforcement, a tool distributor selling to the building inspection department, or the maintenance and cleaning departments of local government are both examples of what I mean.
Several firms embrace digitalization models based on growth through eCommerce to communicate with other businesses with which they have entered into commercial contracts.
The advantages of B2B eCommerce can be divided into two categories:
- It lowers costs while simultaneously improving operations and external procedures.
- It aids in scaling the business and ensures its long-term viability and sustainability.
How does B2B eCommerce help us according to the type of industry?
Manufacturers must engage with a large number of suppliers at the same time to meet the demands of their production cycle. This necessitates a significant amount of time and many human data entry activities.
The ability to integrate their ERP to manage inventory and forecasting, develop customer portals, and sell directly to consumers (D2C) allows them to save costs while increasing the value of each transaction.
To ensure that supplies to stores and through B2C eCommerce do not halt, multi-brand retailers must integrate their purchasing and procurement operations, as well as their warehousing and logistics processes, amongst their many points of sale. This entails overseeing a comprehensive sourcing strategy that is linked with marketing management and sales activities.
Aspects to take into account in B2B eCommerce
When developing a B2B eCommerce site, it is essential to consider the site’s overall design. These tips can assist you in ensuring that it is implemented correctly:
- Consider how you educate clients about your items, their features, and your specials and discounts.
- Consider how to transition customers from an offline to an online environment and the implications for the firm.
- Process and automation design in situations when technology is required to address customer concerns.
- Programs that encourage customer loyalty, high-value orders (both in terms of volume and price), and increased purchase frequency are being developed.
- Align business procedures with teams to scale up operations.
- Reduce the costs of back-office operations and the inefficiencies of antiquated systems.
- Incorporate eCommerce into the business model to complement other company strategies and serve as a growth strategy appropriately integrated into the business model.
- Create a plan for how value will be created on the human side of the transaction and document it.
Storytelling is also an aspect of B2B:
- Concentrate on people who are now utilizing your product and describe how they feel.
- Sell the concept of what your product does rather than the actual product.
- Demonstrate to your B2B customers how much you value them and how much time you devote to fixing their difficulties.
- Make B2B customers feel like you are there for them (share values and culture).
- Keep messaging concise and relevant to the organization’s needs.