What is B2B eCommerce - A Guide

B2B branded eCommerce, or business-to-business electronic commerce is all about the online transactions between the businesses. The order processing is done digitally. It helps in improving the buying efficiency for the manufacturers, wholesalers, distributors, and all other types of B2B sellers.

Types of B2B eCommerce 

B2B branded eCommerce has been getting a lot of recognition lately. According to a survey taken place in 2018, 48% of the companies conduct around 50-74% of the online purchases online. Also, 23% of the companies conduct 75% of their purchases online. Now let us read about the different types of B2B e-commerce models.

B2B2C 

Business-to-business-to-customer e-commerce takes out the middlemen involved in the B2B organization and B2C. It means the business will directly be in contact with the customers. You can better understand the B2B2C model by looking at how a manufacturer or a wholesaler interacts with the old B2B or B2B models.

In those cases, a business sells goods to B2B. Those goods are then sent to the final consumers. But in the B2B2C model, the manufacturer will directly connect with the consumers. He does it either by selling directly to them or partnering with B2B. THE B2B2C e-commerce transactions take place on an e-commerce website, apps, or virtual storefronts. In these models, the consumers know that they are getting their products from a business different from where they purchased them.

Wholesale

Businesses usually buy goods in bulk at lower prices and then sell them at the retail value the entire year. These goods are usually bought from either the manufacturers or the distributors. That is called wholesale business and is one of the most popular forms of B2B. Wholesale, in simple words, is the sale of goods by businesses to other businesses.

The wholesale B2B models are present in industries like retail, construction, medical, food service, and many others. Traditionally, the B2B transactions occurred over the phone, through emails, or by order forms. Now with the wholesale eCommerce platforms, everything has gotten digital using a B2B e-commerce platform. It helps the wholesaler to display their products in a much better and seamless way to provide an improved customer experience.

Manufacturers 

The manufacturers produce on a large scale using raw materials with manual labor and machines. In a B2B model, the finished goods are sold to the other manufacturers and wholesalers. The auto industry is a good example here in the B2B arena. The manufacturer creates individual car parts like fuel pumps and engines. Then the manufacturers sell these parts to the automotive companies that complete building the car using these parts and sell it to the customers.

Just like the wholesalers, the manufacturers are also taking their businesses online. The B2B buyers want the same buying experience just like the B2C, and businesses keeping that in mind are working on it.

Distributors 

A distributor works closely with the manufacturers bringing better visibility to the goods. A distributor has the main motive of increasing sales. The logistics of the sales take place online, mostly through an e-commerce platform.

How Can Wholesalers Benefit From Using E-Commerce 

Previously, the B2B sales process worked and relied on the salespeople to build a long-lasting relationship with the prospects. However, the times have changed now. With the rise of e-commerce, the status quo is changing. It provides so many benefits to B2B companies moving their sales online. Here are some of those benefits: -

Automate Manual Process

An e-commerce platform for selling goods is a great way to automate time-consuming manual processes. Using the right platform, processes like billing, inventory, checkout, etc., are done using the apps instead of just doing it by hand.

It allows the employees to devote the resources to the other crucial parts of the business, be it digital marketing or customer service. Also, the sales team can focus on the complex accounts rather than working and handling the bulk order processing through the self-service model on the website.

Reach More Customers 

Wholesale e-commerce businesses are not just refined to one physical location. They can reach customers all around the world through their websites, and social media channels. Because of this omnichannel experience, your customer will have more opportunities to find you easily between devices and channels.

Also, if you are looking to expand your business, wholesaling online would be a great option for creating brand awareness.

Get Insights, Data, and More Useful Information 

When you have a website and have your business online, you will have access to granular levels of customer data and insights like: -

• What pages have been viewed the most each day, week, or month?

• The number of people who viewed the specific coupons.

• Average time spent on a web-page

• What numbers and percentage of people bounced from the site and stayed throughout.

You can use this data to know more about your marketing campaigns, discounts, product mix, and pricing. Also, it will help you better understand your customer's needs.

Conclusion

B2B branded e-commerce is a great way of expanding your business to new markets. It is a tremendous marketplace for businesses to be part of. If you are looking for a B2B commerce platform to increase sales and grow your business, you must get in touch with MarketTime.