Whether you’re a seasoned online sales expert or just starting on your journey towards e-commerce success, you probably already know what a massive difference an online sales portal can make. But are you aware of just how much a web store can do for your organization? Read on to learn more about the six key benefits of B2B e-commerce and see how your business can flourish.
Benefit 1: More Business Opportunities
Who doesn’t want to grow their potential client base?
A web store can help strengthen your online presence, letting potential clients and resellers find you through search engines. This is especially effective if you choose to make your catalog pages public. However, even if you decide to keep your catalog private, you can use targeted marketing content in your web store to grab the attention of new clients.
Benefit 2: Improved Sales
Attracting more clients can help boost your sales, but that’s not the only way a B2B e-commerce platform can help improve your business performance.
Choosing the right B2B e-commerce solution lets you display relevant and specific product recommendations for your visitors. You can make sure your clients see related products, but also items with more features, unlocking powerful cross-selling and upselling opportunities.
Benefit 3: Lower Costs
Growing your revenue while minimizing your costs might sound impossible, but it’s a very real benefit of B2B e-commerce.
Modern technology lets you take almost every aspect of your business online, including order entry, client information provision and customer service. By automating and streamlining these various processes, your company can cut down on unnecessary costs – even while you make your business processes more efficient.
Benefit 4: Customer Reviews
A great online buying experience keeps your clients coming back for more, and it might even help drive sales. After all, what would you trust more: promotional text from a manufacturer or wholesaler, or a positive review from another buyer?
By offering an exceptional B2B web store, you can turn your clients into evangelists. By simply leaving a review, clients sharing their enthusiasm can have an incredible effect on your business, with reviews producing an average of 18% uplift in sales.
Benefit 5: New Markets
We already mentioned that a B2B web store can help you reach more clients. And those clients don’t necessarily have to be in your existing markets.
Because your online sales portal won’t rely on the availability of your sales team, your digital sales channel can be available 24/7, 365 days a year. By eliminating the challenge that time differences often pose in the order process, B2B e-commerce makes it easier than ever to serve a wider international market.
Benefit 6: Data-Driven
Powerful B2B e-commerce software lets you streamline and automate plenty of processes, and it can also grant unique insight into the data that matters to your sales and marketing operations – especially if you integrate your B2B e-commerce platform with your ERP system.
If you have an integrated e-commerce setup, your ERP can calculate detailed sales statistics for each of your clients. Order totals, revenue, profit percentages, or even discounts within a specific time period. With so much data available, there’s no need for vague estimates.
And that’s not all: you can even use client data to create customer segments and enhance your marketing, making it more targeted and more effective. Download the definitive guide to personalizing the B2B customer journey for more information.
Get More B2B E-Commerce Insights
Want more details and statistics about the benefits of B2B e-commerce? The Digital Transformation and B2B E-Commerce Report uses data from a survey of over 300 B2B companies to dive deeper into the benefits and challenges of launching a B2B web store, and other aspects of digital transformation projects. Download your free PDF copy and get access to the data that makes the difference.