10 major benefits of B2B E-commerce
E-commerce has grown exponentially since the beginning of the Digital India campaign. A trend that blossomed globally has now forayed into India as well. While B2C E-commerce is rather well accepted, B2B e-commerce is still a niche category. We as a country are at the cusp of a digital boom, it makes sense for organizations to now venture into B2B E-commerce growth. Listed below are the 10 major benefits that B2B offers, here’s why you should try them.
- Larger customer basket
The old model of selling has proven to be much more time consuming and laboriously ineffective. With a B2B E-commerce platform, one can have a direct reach to a larger basket of customers. It enhances customer experience as well. Good marketing strategies will invite a larger customer base as opposed to regular B2B marketing strategies
- Improved Brand Visibility
There is a constant shift in the online segment. Each day more and more customers are logging into the internet. Therefore it makes sense to be up to date with times. Improved and enhanced brand visibility can be successfully achieved only through smart E-commerce setups.
- Improved sales
The basic principle of the sales funnel remains – Larger the top of your sales funnel, better are the chances or rate of conversion. Going the online way definitely will show a stark increase in sales.
- Better analytics
Data is everything! The same data can be used in a hundred different ways to arrive at a hundred different conclusions. All of which can be used constructively to drive sales. Analytics is the best thing to come out of digital marketing. Data analytics has taken customer understanding to a whole new level.
- Improved customer engagement
‘Know your customer’ has always been the Mantra. Driving a business without knowing the pain of the customer is a major faux pas. Going online simply helps you by improving your visibility, the platform always allows you to have a much more free-flowing open-ended conversation with the customer, with shorter response times. Benefits both the seller and the buyer.
- Improved conversion rates
E-commerce for a particular business set up is made as per the requirements of that particular business pattern. Therefore most of the manual glitches or lapses can be overcome by going online. Thus, improving productivity and consequentially conversion rates.
- Data storage, back up
No more worry about saving emails, data and tons of paperwork. The online system is connected to cloud-based systems that initiate auto back up. Your data is almost 100 percent safe.
- Enhances supplies and planning
In business units where planning and forecasts are key, maintaining supplies and stocks is essential, it becomes extremely easy with B2B e-commerce set up
- Reduced handling costs
Resources can be handled much more efficiently when it comes to E-commerce platforms thus, reducing the handling and other costs.
- Direct insights into B2B markets
Being a part of the B2B industry demands in-depth knowledge and know-how of how the business functions.
Therefore, it becomes important to be in touch with market insights. And nobody gives insights like customers. B2B E-commerce portals allow a better framework to understand market insights.
The growth of the B2B E-commerce marketing trend is only going to witness sharp growth. Make sure you are on the right side of the growth curve.
Get in touch with us, a web development company in Mumbai for setting up your own E-commerce platform.