The business-to-business landscape is dynamic and changes with time as it shifts from the traditional and offline territory to a more digital world. And this shift happened quite rapidly, as the B2B eCommerce value in the United States doubled from 2009 to 2019. It leaps from $3.1 billion to $6.7 billion.
Because of this substantial growth, eCommerce technology has quickly become the top of mind of business to business.
B2B is evolving digitally quickly, and several opportunities are here for the already established business and new startups and entrepreneurs to mark themselves in the market. But what is B2B?
What Is Business To Business?
Business-to-business or B2B is a transactional form between businesses. For example, it involves a manufacturer and the wholesaler or a wholesaler and the retailer. B2B refers to a business conducted between two companies rather than directly connecting with an individual. Business-to-business is different from business customers. There are many online B2B marketplaces in this digital age where business-to-business has grown significantly.
What is The Difference Between B2B and B2C?
In B2B, the business deals sell and buying goods from other businesses. While on the other hand, in B2C, the business directly engages with the customers.
Understanding The Business To Business
The B2B transaction is usually common in a typical supply chain, such as many companies purchasing the components and the products like the raw materials for use in the manufacturing process of their food. Then the finished products are sold to individual customers, known as a B2C transaction.
B2B refers to a method through which employees from various companies can connect, like through social media.
This kind of communication between the personnel of two or more businesses is called B2B communication.
The internet offers a healthy environment where a business can find out about products or services and lay the groundwork for future business-to-business transactions. Company websites allow interested parties to learn about the business product and service and initiate contact.
Digital products and supply exchange websites allow businesses to find products and services and initiate procurement through e-procurement interfaces. The online directories provide information about industries, companies, their products, and services. They also offer B2B transactions.
Type Of B2B business
There are different types of business-to-business companies that have different needs. Therefore, you must first understand their differences when researching a solution, company, or organization.
B2B2C: Business-to-business-to-consumer eCommerce takes the middleman from the process, usually between the B2B and B2C organizations, putting the business directly in contact with the customers.
Wholesale: The wholesale eCommerce is a B2b model where instead of selling the product individually to the consumers, the business sells them in bulk and at a discount to other businesses.
Manufacturers: The manufacturers produce the finished good on a large scale by utilizing the parts and raw materials in combination with manual labor and machines. In this B2B model, the finished goods are sold to other manufacturers, suppliers, or wholesalers.
Distributors: The Distributors work closely with the manufacturers to bring visibility to the goods they produce. It is for increasing sales or moving their products along the distribution channel.
Factors To Select The B2B Platform
To start your business with the business-to-business eCommerce platform, you must check the following factors to select the B2B platform.
Getting The Sales Team Buy-In And Adoption
The first thing you have to check is your team’s ability to use the platform you will choose. It will center around a few things;
- The user interface of the platforms.
- The knowledge level required to utilize the platform fully.
- Your team’s skill level before using the situation.
Every B2B platform has a different and tailored interface for the users with a specific level of Knowledge of coding and developing. Therefore, not every B2B platform will work for you or your team. That is why you need to pick the best according to your utilizing power.
Have Plan For Onboarding Customers
The switch from one eCommerce platform to or from an old propriety platform to a new one is not a seamless transition, especially for the customers.
When you implement a new solution, ensure a clear plan for onboarding your preexisting customers. Indeed, you don’t want to surprise your customer with a new platform in which they have no idea how to operate.
To streamline the process, some eCommerce B2B marketplaces provide extensive launch services to make it easier for you to transit and offer real-time training for the customers and your in-house staff who are still getting used to the new workflow.
It is the number one priority of many customers when selecting a platform to shop. Ensuring that their data is safe is critical to implementing your services and is an ultimate success. An Ecommerce platform dedicated to B2B must provide security regarding credit card data, customer data, fraud protection, administrative security, and SSL certificates.
Each of these items is safeguarded, and the customers will be more likely to select your service.
Cost Of The Platform
Here the cost doesn’t only mean the monetary cost but also the internal cost of getting the site up and running, maintaining it, and more. One significate differentiator is how the SaaS platforms compare to on-premise platforms.
On-premise platforms offer an extraordinary number of customizations. However, they require full-time developers to work through the complex nuances of the buildout. Additionally, an on-premise solution brings the heft of security and agreement, which can also get expensive.
But with the SaaS platform, the extracurriculars can bog down the process and are handled by the third-party vendor, simplifying the process and lowering costs.
The difference is the overall cost may end up one-sided.
Best B2B Platforms To Start Your Business Now
Here are some of the best B2B eCommerce platforms on which you can start your business.
It is a comprehensive B2B marketplace with the expertise of over a decade as the online B2B marketplace. eWorldTrade currently caters to over 500,000 registered users and expands the database of manufacturers, suppliers, and companies frworldwideThe digital platforms are designed and developed to address the fierce business competition by offering a safe, fast, reliable, and authentic trading medium. eWorldTrade is designed with all new advanced features and functionalities that any B2B platform has never offered. As a result, it is the only B2B marketplace that helps millions of traders express their presence globally.
You can start your online shopping store at Shopify. The marketplace was launched over a decade ago and started to sell snowboards online. Businesses of all sizes now use Shopify Plus to expand to reach a new audience. It is the all-in-one commerce platform to start, run, and grow your business. In addition, the platform has advanced features that can help the business and the customers create a win-win situation for both. As a result, Shopify Plus has multiple advantages for its users.
BigCommerce started to help merchants sell more at every growth stage. It is for everyone, from small startups to mid-market businesses to large enterprises. BigCommerce is the leading SaaS solution and empowers businesses to build, innovate, and grow online. The marketplace focuses on being the best commerce platform so that users can focus on expanding their businesses.
BigCommerce is transparent, honest, and committed to what is best for the customers and the company itself. They openly cooperate in pursuit of certainty. The platform has no tolerance for politics, hidden agendas, or passive-aggressive behavior. BigCommerce contently works on being the best and providing the solutions that can make an impact through talents.
WooCommerce B2B is the best solution to build a comprehensive, complete, and advanced hybrid B2B or B2B/B2C store. It is a single, credible, powerful plugin that solves the diverse needs of a B2B or a B2C store. WooCommerce takes care of everything – management of payment, shipping methods, separate registration forms, minimum purchase quotes, discounts for quantities, and much more.
WooCommerce doesn’t require annual renewals. You can buy the license for a lifetime. The marketplace is transparent and constant with honest prices, providing a complete suit in a single payment. Their team work constantly to add new features with the targeted updates.
Pepperi has over 1000 customers in over seventy countries and offers consumer goods and brand manufacturers, distributors, and wholesalers a complete solution that can help businesses increase sales figures, reduce inefficacity processes, and speed up operations.
The Pepperi provide high-end solutions to the users and allows them to use modern features that can help to run the platform more easily and efficiently. Customers can rely on the Pepperi plans and analyze their B2B sales with out-of-the-box techniques. In addition, it supplies an integrated plan to the users to grow their reach audience around the world.