eCommerce has taken the business-to-business (B2B) world by storm. Initially, B2B buyers and suppliers thought eCommerce was a trend that wouldn’t last. They didn’t envision it in their future, nor did many B2B companies invest in it. However, the future has arrived and eCommerce is here to stay.
Online portals have become a game changer for B2B companies. With an online presence, businesses can showcase their inventory stock with ease. It serves as a platform to set them apart from competitors and allows other B2B companies to contact them with ease.
Historically, B2B sales involved a sales representative that would go outside and meet with prospective buyers. Nowadays, the internet channels sales through an online portal. Although there is still a need for relationships with suppliers, inbound sales are much more common.
Benefits of a B2B eCommerce portal
B2B are constantly growing. The industry is nearly double the size of business-to-consumer (B2C) sales. Everyday more and more sales are being channelled through online portals. Manufacturers and wholesalers with bulk inventory stock are faring favourably in this market. Having your inventory stock online is efficacious for many reasons. Prospective buyers can search any time of the day and can view the product through numerous angles and watch videos of it in use. This leads to satisfaction and ease for both sides of the B2B transaction.
An online portal can make your B2B business very scalable. It allows you to have an online presence that is comparable to bigger companies. If you can create a professional and user-friendly site, you can display your inventory stock in a competitive environment. B2B buyers are looking to purchase products in bulk. If your business is able to supply it, there are B2B companies willing to buy it.
Another advantage of using an online eCommerce portal is the opportunity to see inventory stock availability in real time; a cloud-based system can automatically update the quantity of inventory stock is on hand. By combining the sales portal and inventory portal, you can have a streamlined ordering process. Historically, this data has not been connected and this often halted orders from being fulfilled.
As millennial buyers come to the forefront of B2B roles, online sales are a must. This generation is used to instant gratification and searching for everything quickly and seamlessly on the internet. With a plethora of product information online, B2B buyers are increasingly researching and purchasing products over the internet.
Lastly, with an online eCommerce portal for B2B buyers, it allows a business to provide a better overall customer experience. They can get in contact with you faster and have stock updates in real-time. There are plenty of perks with B2B eCommerce, so make sure you’re a part of it.