B2B eCommerce is one of the fastest-growing sales channels. According to some estimates, the global B2B eCommerce sector is worth more than $12 trillion, accounting for 13% of total B2B sales in the U.S.
These platforms' innovation and technology have aided the eCommerce movement. Traditional B2B sales and marketing operations were labor-intensive and manual. The introduction of digital commerce helps these organizations decrease costs and increase productivity by automating eCommerce processes. Here are some ways to start a B2B eCommerce Store for small businesses:
Determine your business needs and goals before beginning your eCommerce project. Ask yourself questions such as, "Why do I want to build an eCommerce website right now?"
Consider who you want to sell to, what you want to sell online, whether you want to branch out into other markets (for example, B2B2C), etc.
Finally, make sure your eCommerce KPIs (key performance indicators) align with company objectives and plans. Having specific KPIs allows you to assess the effectiveness of your eCommerce website project and identify any gaps that need to be addressed, all while maintaining a constant focus on your eCommerce objectives.
Their shopping preferences and experiences determine your online store's success. Customers will only utilize your online store if it is convenient for them. As a result, it's critical to design your eCommerce strategy around your customers. This entails understanding what they want and expect and meeting their expectations.
Begin with your most important customers. However, be sure to include a decent mix of clients who are enthusiastic about B2B web stores and those who are hesitant to order online. Then see if you can uncover any common ground among these disparate requirements.
It's important to know that someone should be in charge of eCommerce. For smaller enterprises, this does not always imply a full-time eCommerce specialist. However, you will require one person to oversee the launch and operation of your online business.
Because eCommerce affects so many, if not all, aspects of your business, you'll need individuals from every area to contribute the relevant knowledge and abilities.
Internal support and alignment are critical to the success of any eCommerce project. Ensure that everyone in your company is on board with your eCommerce strategy and knows the advantages.
You should inform each department about the benefits of eCommerce, emphasizing aspects that are relevant to each stakeholder. Will it help you earn more money? Will it assist you in expanding your market? In other words, explain what's in it for them and set mutual objectives.
Consider what you want to get out of your eCommerce website. Begin by determining your absolute need. Consider the minimum features and capabilities that you and your clients require: your minimal viable product (MVP).
Only then, if time and finances permit, should you consider any further nice-to-haves. eCommerce user stories are one technique to create a thorough eCommerce MVP. User stories assist you in defining the many actions and journeys that customers may take on your online business.
Despite its indisputable popularity in B2C shopping, B2B enterprises have mostly ignored social networking. Facebook, Instagram, and even LinkedIn are typically considered direct-to-consumer platforms.
While social media may not be effective for direct sales in B2B, it is an effective tool for outreach and building the kind of agreement that B2B decision-making requires. Why? People connect with people; hence consensus is about people.
According to Gartner, by 2025, digital channels will account for 80 percent of B2B sales interactions between buyers and suppliers.
Furthermore, new eCommerce technologies make it easier for historically B2C firms to incorporate a B2B component (B2C2B) and for traditionally B2B organizations to sell directly to consumers (B2B2C).
You'll most likely fall into one of the following categories as a B2B company:
B2B eCommerce isn't only about targeting current clients; it's also about expanding into new areas and attracting new customers. There are practically no restrictions for merchants wishing to go digital with many eCommerce platforms, marketplaces, and digital solutions.
This makes it easier for B2B enterprises to expand worldwide or enter new product markets. Investing in B2B eCommerce for small internet firms is a grassroots initiative aimed at long-term growth potential. Read our Bliss Drive blogs to learn more about eCommerce and digital marketing.