Why Investing in B2B eCommerce Marketplace Sounds like a Good Plan?





The days of bargaining, taking orders face-to-face or by phone are over. Online shopping today is not only limited between business and customers; in fact, businesses are finding hooking up online, more comfortable, and convenient.

The growth of the B2B eCommerce sector since the past few years has become a threat today to the B2C eCommerce sector due to its surprising figures. According to Statista, the global B2B e-commerce market is worth $7.7 trillion and is now dominating that of the B2C business. So, you can see, how far the B2B eCommerce marketplace has reached for anyone to ignore it.

Looking at the ease of a click and buy, order placement, shipping, and payments; manufactures, wholesales, and distributors thought of why not implementing the same into their way of dealing business which is no less than a big headache. The old-fashioned method of conquering new markets, expanding the assortment, getting more new customers did nothing but kept retailers and manufacturers run miles and stay awake at night.

Thankfully, with the fever of eCommerce, the present B2B online business models have started adopting automated ordering frameworks, putting more emphasis on connections and less on transactions. It is fostering relationship-focused B2B ecommerce business which means higher unpredictable sales, multi-party deals, and expanded collaborations with long haul business clients while decreasing the effort spent on low-value works.

So, why B2B eCommerce Marketplace is becoming a tempting dessert for manufactures, wholesales, and distributor to dig-in? Well, the reasons are many. Hence, without further ado, let's dive into the benefits of investing in a B2B E-commerce platform in 2019.

1. B2B eCommerce is in the limelight

Earlier investing in B2B eCommerce would have been a risky business due to its benefits unknown to the people thoroughly. Today, after looking at the growth rate of B2B, investment in it has suddenly spiked. In fact, it can be said that they are even close to beat B2C in terms of growth rate. About 85% of the B2B companies have realized the importance of eCommerce and are now quitting traditional methods then why not you?

2. Old, existing, and new customers, there's something for everyone.

B2B eCommerce has in store for everyone, your old, existing, and new customers. By funding in a b2b multi-vendor marketplace e-commerce software, you can retain your customers from falling for other B2B marketplaces as no one has time today to waste calling, waiting for a response, etc. The instant, the better. This may also bring back your old clients or customers who had left you earlier. In short, with the latest technologies and techniques of the B2B eCommerce marketplace, you can pull in new clients, keep the clients you already have, and pitch more to every one of your clients.

3. Enhanced customer service

A wholesaler, retailer, whoever it may be, a buyer is a customer, and he/she expects customer service too. Right from ordering products up to its delivery and after that, how you treat your buyers, what you offer, how you help them, communicate and respond to them, all matters. Positive customer service not only depends upon you but also upon your B2B eCommerce marketplace. The ease of use, navigation, order and shipping process, support, all these decides the future of your business which can be easily achieved with a well-built Magento marketplace software solution.

4. Seamless business operations

There's so much in a B2B sales like wholesale ordering, delivery, and billing, order management, inventory integration, finance, logistics, etc., which must be as seamless as possible. Automating them all will not only streamline business operations but will also make it easy for your buyers to shop hassle-free and keep coming back to you.

Here are some of the highlighted individual benefits of B2B eCommerce marketplace for each;

Manufacturers can;

•    Interact with their customers, track customer data and own customer experience
•    Connect suppliers and customers without a necessity for them to visit multiple distributor sites
•    Build high-quality supply chain by verifying and vetting suppliers
•    Automate the sales process
•    Incorporate multi-channel strategy

Retailers can;

•    Get inventory visibility
•    Buy straight from the manufacturers
•    Have access to a large client base
•    Offer long-tail assortment
•    Give B2B customer B2C shopping experience
•    Provide a better choice and service to your customers
•    Become a leader in their niche
•    Test new products and categories
•    Increase in-store visits
•    Increase assortment by adding 3rd party sellers
•    Open new categories without investing in warehousing and logistics

Wholesalers can

•    Enjoy expansion of the business network
•    Tap into new markets
•    Relish low operating costs
•    Carry out a seamless sales cycle

Conclusion

For all these to happen and to reap maximum benefits out of a B2B eCommerce marketplace, it is necessary to get it designed as such well. For a B2B eCommerce marketplace to give B2C eCommerce experience, it has to have some of the aesthetic design, scheduled re-ordering, organization grade scalability, integration with third-party workplace structures, high-quality images, detailed product description and catalog, ease-of-use, efficiency, and clarity, etc.

The crux lies in choosing the right Magento marketplace software solution for this. We at MobiCommerce start from concept development, that includes the product analysis, landing page development, wireframing, and prototyping all developed with a customer-centric approach and latest features to help your business tap open new horizons of success and break into new markets and become a leader in their niche.

Author Bio

Audrey Zack, Marketing Manager at Mobicommerce. She writes about anything and everything that makes modern e-commerce mobile apps, web apps and websites possible. Passionate about coding in any language including Magento, Swift, JavaScript, PHP, Java, Android & iOS dev, not excluding CSS/HTML.