B2B (Business-to-Business) e-commerce was quickly adopted as a result of the epidemic. By 2022, e-commerce capabilities would be offered by almost two-thirds of B2B enterprises across all industry sectors.
Many B2B businesses encountered a challenging learning curve and made certain errors. Companies without e-commerce platform selection knowledge were unaware of the significant operational differences between B2C and B2B e-commerce.
Many crucial components that are necessary for business-to-business merchants are missing from a traditional B2C e-commerce platform.
Consumer needs differ between B2B and B2C
Facts vs. emotions in purchasing decisions
In contrast to many B2C transactions, B2B e-commerce purchases are deliberate, rational, and value-driven rather than impulsive and motivated by emotion. Business demands are the main factor in B2B purchasing choices, which frequently adhere to a cyclical timetable.
Individuals versus groups as decision-makers
B2B purchasing choices are made by teams of people. An established procurement process must be followed when making a B2B purchase, and it can also need the permission of several managers and departments.
In business-to-consumer transactions, a single person makes the decision and typically buys something to satisfy an emotional need or a single precise demand.
Long vs. short buying cycles (or complex vs. simple)
The buying cycles in the B2B environment are frequently drawn-out and intricate. The vendors and the buyer, as well as numerous departments, are all involved in the B2B purchase process. Information that is most pertinent to various decision-makers must be accessible to them.
In contrast to B2C relationships, which often don’t entail many repeat purchases, B2B buyers can negotiate a long-term deal and stay with their suppliers for a lengthy period.
Due diligence on the part of purchasers is also required because of the quantity and cost of the orders to assure product quality. The B2C procedure, on the other hand, is quicker and simpler.
Important characteristics that every B2B entrepreneur needs to succeed
A storefront with more emphasis on the user/customer experience
Business-to-business buyers anticipate a buying experience that is on par with that of contemporary B2C internet retailers. Customer satisfaction in your B2B store must be on par with or higher than that of other sales channels.
Here are some necessities for retail tools:
- Created templates that are simple to utilize
- Brandable and customizable
- Mobile, desktop, and tablet devices all respond well
- Simple to add features to, such as product configurators, lead capture forms, personalization plug-ins, and incentive schemes.
Customers’ prices and wholesale prices
To decide which products to buy, business purchasers must be able to comprehend product costs and compare them to those from competing vendors. Customers with current accounts and all other customers may view the various pricing for the same goods.
Customers from a company that has a volume discount agreement may notice lower prices than all other store patrons. Ensure that the pricing for each client segment is supported by your e-commerce platform.
Catalog of detailed content
A customized content management system (CMS) is required by the B2B e-commerce platform to assist in the management of product information and online presentation.
A product classification must be supported by the CMS and include all relevant hierarchy levels, product descriptions, images, specifications, and prices, as well as PDF manuals and videos. To choose the required parts and options, specific configurators may be required for some product types.
Get a price quotation
Customers frequently need to call and request a quote because the pricing of a product in a B2B business depends on some variables, including product configuration, quantity, a specific client or customer group, delivery schedule, and others.
The online feature for requesting quotes makes it possible to speed up the procedure and minimize back-and-forth contact.
Sales agents can generate a quote after receiving a request and offer consumers additional reductions in addition to the pre-negotiated pricing. Once the quote has been accepted by the business, they may also place an order on the client’s behalf.
Repeat purchases made by purchasers in the business-to-business sector frequently occur in cycles of inventory replenishment. The base pricing for each company-level item previously purchased must be visible to B2B store users.
Other elements that make reading simple include:
- Keep track of and store several shopping lists. To effortlessly purchase previously stored products, you can retrieve these for later use.
- To add a product list to a company’s unique quick order website.
Successful B2B platforms
The top 10 B2B websites in the world that operate as a successful B2B platform including: