The B2b e-commerce market is said to be four times larger than the B2C market. The United States Department of Commerce states that in 2-3 years’ time the market will have matured and its worth will be to up to 0ne trillion. The choice of platform that you choose for your B2b market can build or destroy your business. The B2b market and B2C are different from each other and cater for different types of customers. The B2C e-commerce business is slowly assimilating the standards of the B2C market.
The website interface, customer service, order requirements and payment integrations are quite the same in both the B2B and B2C e-commerce market. The two markets only have several differences from each other.
Hence the choice of B2B platform that you select should be in a position to cater for all the above requirements.
Choosing the best B2B e-commerce platform for your business
There are a lot of platforms today in the market that any business person can select from. Different e-commerce platforms offer a variety of different level experiences and different capabilities.
The catalog is one of the leading e-commerce platforms that simplifies tasks like inventory management, order management, and product management with minimal effort.
Main features of Catalog platform include bulk invite to its customers, customer-specific pricing, and dual order creation process. Catalog also alerts its users when it’s time for making reorders. It also informs the business owner when stocks are almost finished, and this helps to maintain the stock levels all the time.
Inside soft business to business portal acts as a catalog management program that aids in managing different pricing matrix for all the orders that are processed. Insite portal is considered as a critical tool that can meet all the need of distributors and manufacturers.
It comes with various inbuilt techniques for merchandising and promotion that will lead to the growth of your business. Insitesoft also has a content management system that manages different sites from one interface and even for approval of content and in context editing.
NetSuite is among some of the top B2B e-commerce platforms which provide special B2b e-commerce facilities such as real-time inventory tracking and real-time shipment tracking. NetSuite offers many languages, more than 37 foreign currencies and also provides a flexible tax management system.
SAP Hybris is a universal EPR solution. It houses an ecosystem of different suppliers, distributors, and partners in the great B2B e-commerce management. SAP Hybris isn’t a good option for small business enterprises. It’s an excellent choice for enterprises with a vast network of suppliers and distributors who are widely spread out across the country.
It has excellent scalability and performance too. The only disadvantage with SAP Hybris is the fact that it’s hard to use and operate especially for an inexperienced person who doesn’t know how to use the B2B e-commerce software.
The tradegecko platform is popular for its scalability and user-friendliness. It is envisioned as a SaaS product; hence it gives the B2B users the chance to increase or lessen their usage according to the specific requirements. The platform has various options for reordering, custom pricing, customization and other features that enable complete order management.
Tradegecko can also be incorporated with numerous e-commerce channels for order processing and tight inventory management. The main highlights of tradegecko include expiry tracking and inventory reports.
These are some of the best B2b e-commerce solutions to streamline your growing business. They come with inbuilt B2B platform features that smoothen the lives of the business owners as well as of the B2b companies.
If you are looking for more growth for your business you can do it through an online store, find in the following article the best indicators to determine what type of online store you need.
4 Indicators You Need To Create an Online Store
Maybe this is you: you have a small or medium brick and mortar store in New York City. The store has been in existence for the last 10 years. During that period, you have been enjoying substantial growth in your sales level. Also, your customer base reached several thousand which enabled you to open a new business. However, for the last few years, thing are changing slowly. You store growth is stagnating. Sales level are declining.
Recently, you closed down one of your stores to reduce your costs. This is happening even after investing a significant amount of cash in marketing. But have you thought about creating an online store? Could these happenings be indicators you need one? Well, here are four indicators you need an online store:
In the united states, online shopping is now a norm. Every person is turning to the virtual store to make a purchase. The idea is people do not want to waste time walking and queuing in the in-stores. Even though walking is a health remedy, sometimes you need to invest time in other productive affairs.
Some of the customers turning to the online shops are the ones you used to provide your products and services. Hence, if you notice a decline in your customer’s base, such that queues are continuing to reduce, it is the time to take a step to avoid losing them. This step is creating an online store where they can shop right in the comfort of their homes.
When your customers decline, it means your sales will follow suit. As digitization continues taking shape, more customers are turning to online shopping. This means that only a few customers will visit your physical store. As a result, the sales level for search stores will continue declining while the ones for the virtual shop will be surging. If your sales are facing a downward trend even when you have maximized your marketing efforts, it is the time to change your tactic and create an online store. Remember, if you fail to take action at this stage, you have a higher chance of closing down as online selling is the future.
Stiff competition in your locality
Certainly, your business may not be experiencing reduced sales or declining customer. However, the number of vendors offering the same products as yours in your area are increasing each dawn. By this, chances of growing your sales are diminishing daily. If this is the current situation, you can change your fortune through launching a virtual store. The virtual store does not have limitation to the number of customers you can serve.
For instance, if you are selling shoes in New York, the demand for those products may be high in Beijing China compared to the local. To enable potential customers from China to purchase your shoes, you need to offer them a platform where they can place their orders. This can only happen through the creation of an online store. So, if you are facing stiff competition in your locality, it is time to cast your nets wide through launching an online shop to reach out to customers in other areas.
You want to open new branches in other countries, but laws are prohibiting you
At times, you might be thinking of opening international subsidiaries to reach out to target customers. But the legal systems in those countries are limiting you. As you know, each nation has rules and regulations that govern how business people run their affairs. Some prefer locally made products. If the legal processes are a barrier to your international selling, creating an online store can offer you a shortcut. There are no laws that can limit you to sell in a given country as long as what you are offering is legitimate and is allowed for use in the said country.