B2B marketplace: 10 benefits of creating your platform

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If you want to make more sales, why not launch a BtoB marketplace that is unique to your business identity and can complement your business on your physical outlets?

An increase in revenue 5 times faster than previous levels is the profit scale that B2B e-commerce businesses can expect. This is a booming industry, with strong growth potential.

The benefits of B2B e-commerce are numerous. Let's talk about them !

B2B marketplace statistics speak volumes

  • 94% of B2B shoppers search online before making a purchase decision.
  • 71% of B2B buyers prefer not to interact with a seller.
  • 57% of the purchase process is completed before committing to a seller.
  • 59% of B2B shoppers report that personalized recommendations have influenced their purchasing decision.
  • 70% of all B2B decision makers today are web-ready millennials.
  • Agile B2B people are 70% more likely to achieve better organizational health than their peers.
  • More than 69% of B2B businesses plan to stop printing catalogs within five years.
  • More than 98% of B2B shoppers are looking for the same shopping experiences across all channels. As a result, more than 80% of companies invest in omnichannel experience.
  • 41% of buyers are frustrated by incomplete pricing information. 74% would make a purchase from a competitor if the experience on your marketplace does not match the purchase expectations.
  • Improving the user experience with this data can bring you an additional 9% revenue creation.
  • 86% prefer to use self-service tools to place orders rather than talk to a salesperson.
  • Strong brands outperform weak brands by 20%, on average. 77% of B2B customers make purchasing decisions based on brand name. 84% of B2B buyers are willing to pay more for exceptional branding experiences.

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The 10 benefits of e-commerce

  1. Flexibility, scalability and growth

 

One of the main benefits of B2B e-commerce remains its flexibility, allowing companies to open multiple stores and grow into other sales modes such as B2C. In addition, a successful online store strengthens your online presence, attracting more potential customers to your services.

  1. Custom and customer-centric features

 

Well-designed e-commerce solutions give customers access to self-service portals with product descriptions, reviews, shipping and processing information, and their account, order history, and delivery tracking information. They can also customize their page. It will also allow you to collect data on each customer and their transactions to better identify their needs.

  1. An opening to new markets

 

Your customers are already online looking for the best prices, comparing products and buying from companies that meet their requirements. You, too, can benefit from new sales channels: go where your buyers are looking for their purchases and take advantage of the power of digital marketing. Putting catalogs online not only allows you to reach new markets, but also to centralize data.

  1. Digital agility

 

B2B businesses need to be able to quickly launch their marketplaces, move into new markets, or expand their e-commerce business to meet growing demand. Today's technology allows brands to easily build long-term relationships or create their own customers. B2B retailers are also able to grow beyond their local area and reach new customers.

  1. Significant increase in productivity

 

A self-service portal can take orders 24 hours a day, 7 days a week and provide customers with personalized rates, view order status, and more. Automated ordering workflows reduce the risk of errors and misunderstandings while increasing the efficiency of sales processes. In addition, digital order processing costs significantly less than manual processing.

  1. An omnichannel experience

 

One of the great strengths of B2B e-commerce is the online sales experience that transcends the sales barriers of physical stores. Today's customer journeys are rarely linear, as they move between technology devices and web platforms. Brands rely on e-commerce to offer platform-specific offerings and conversion experiences in their stores.

  1. Flexible payment options

 

A typical large-scale B2B business can handle a variety of terms, payment, and billing options. Another feature offered by B2B platforms is the ability to offer built-in payment methods and integrate with payment processors; billing systems, accounting software, to take care of physical checks, thus simplifying the payment process for customers.

  1. Obtaining accurate data to better fit your offering

 

Nowadays, with so many choices of physical and virtual outlets to shop for, customers are becoming more and more demanding. Businesses cannot afford to make mistakes that can cost them dearly. With the right data at hand, back-office staff can get accurate inventories and use them to deliver a better user experience. Software including ERP, PIM, purchasing or CRM software can improve business processes.

  1. An improved sales process

 

Your online sales platform is able to quickly become your bestseller because it can provide customers with the right information and make it easier for them to place their order. When customers can use, order and reorganize according to their negotiated terms, previous quotes or custom prices, you simplify their lives. In this way, you promote an increase in sales and the average value of orders.

  1. A stronger brand

 

With your own online presence supported by an e-commerce platform, you are able to fully control the growth and promotion of your brand. Be strategic and take advantage of third-party B2B marketplaces as additional sales channels, not as a substitute for your own e-commerce site.

 

Esokia: B2B e-commerce site creation agency

Esokia creates, develops and maintains B2B e-commerce sites for its customers. We are able to advise you, assist you and make your marketplace project a reality.

To do this, we put at your disposal a team of professionals, including a project manager, web developers (front-end and back-end specialists), UX / UI designers and QA (Quality Assurance) engineers.

Our digital agency will expand your marketplace in several phases and introduce you to MVP features. We apply the Agile-Scrum method to develop our clients' IT and digital projects. This method of project management is based on the ability to include changing requirements as the project progresses; while encouraging regular feedback from end users of the product and customer involvement at every stage of the project. In addition, it promotes intra / inter-team collaboration; the accountability of each actor in the project and better communication between all stakeholders.

Once developed, we take care of launching your marketplace and provide support for the first two weeks to fix the project if something goes wrong. We also offer our clients additional service packages for project support. Such a package includes the required team members, the length of attendance, and the response time. This includes application maintenance of your service through a support contract and TMA; and developing your online presence with digital marketing activities including SEO and SEA, as well as an effective content strategy.

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