A plethora of B2B eCommerce are thriving in the marketplace. It has become a solid catalyst in economic development.

However, sometimes B2B eCommerce feels an unsolved mystery. Many B2B companies are still stuck in the stone age as they use traditional marketing channels to do business.

But on the other end of the spectrum, B2B eCommerce sales have hit $6.6 trillion globally in this year, 2020.

When pandemic broke out in the beginning of 2020, many business industries especially business-to-business took advantage of it and upscale their business by launching it on an eCommerce platform.

There are still many who’re skeptical and confused about B2B eCommerce. If you’re one of them, don’t worry.

In this article, we’ll walk through the details and every aspect of B2B eCommerce.

What is Business-to-Business eCommerce?

Business-to-Business (B2B) eCommerce is defined as the sales of services and goods between two companies via online business channels. Insteading of taking orders in an old-school way like via email or telephone, the transactions are made online.

Some people often confuse B2B with B2C. But let us clear this misconception that these two business types are entirely different from each other.

B2C is the process of selling products directly to customers. Whereas, in B2B the deal is made between two organizations or industries.

Big brands like Amazon are now expanding their business through B2B eCommerce and it’s predicted it will grow much faster.

Adding more to it, B2B buyers are not similar to B2C ones. Some business strategies are effective on B2C customers but if applied on B2B, they won’t be that efficacious.

It doesn’t mean that business owners should build new eCommerce websites to facilitate their B2B eCommerce customers. All you need to adjust your business  plans and strategies that will work for your B2B customers.

Now we know what B2B eCommerce and B2B eCommerce buyers are, now let’s look at some B2B eCommerce statistics of this year that illustrates the current status of the B2B eCommerce industry.

B2B eCommerce statistics of 2020

It’s hard to believe the global B2B eCommerce market is twice larger than B2C. Frost and Sullivan predicted last year that in 2020 B2B eCommerce sales will hit $6.6 trillion by 2020 which it did.

Currently U.S is leading the B2B eCommerce market as it is predicted by 2023, the B2B eCommerce sales in the US alone will hit $1.8 trillions.

The traditional sales channels are going extinct as more millennials are stepping into the B2B eCommerce world.

The commonly used marketing channel used by B2B eCommerce industries is LinkedIn. It’s a significant marketing tool as it’s 277% more effective in generating B2B leads compared to social media platforms.

After looking at the current situation of B2B eCommerce industry. Now let’s check out the ins and outs of B2B eCommerce.

Some business-to-business organizations are still skeptical about switching from traditional marketing channels to digital sales channels.

So it’s important to understand the advantages and disadvantages of B2B eCommerce.

Advantages and disadvantages B2B eCommerce

B2B eCommerce is an excellent opportunity for those brands who want to expand their existing business by using a powerful sales channel.

There are plenty of advantages of using a B2B eCommerce platform.

So without any further ado, let’s check them out.

Easier to reach new customer

With a B2B eCommerce website it is easier to reach new customers and expand your consumer base. Users can take advantage of the digital marketing strategies to increase your consumer reach.

Buyers these days not only look for a stable shopping platform but demand for it. Those B2B eCommerce brands who are not available online cannot take advantage of new marketing technologies. Thus, they miss on a lot of customers.

Shoppers also now prefer to make purchases online because it’s easier and convenient. They don’t have to leave the comfort of their house and get stuck in traffic jams. All they have to do is visit your B2B eCommerce store and buy what they want.

Better customer and suppliers management

The B2B eCommerce platform makes it trouble-free to manage customers and suppliers easily. Taking your business on a digital platform gives you the opportunity to manage your business through a management software.

Using management software helps in keeping the records of customers like how much they have shop etc. You can utilize this information to personalize their shopping experience. This automated management concept is a win-win for both the parties.

Up-scale your B2B business by selling more to existing customers

With B2B eCommerce you cannot only just expand your consumer base but you can sell more to your existing customers by implementing an automated up-sell and cross-sell recommendation program.

This is more like providing your existing customers a highly personalized shopping experience. With this recommendation program you can offer them those products which they’re actually looking for.

In this way you’ll be able to assist them in-person without even talking to them.

A cut above data analytics

Using a B2B eCommerce platform is a perfect platform to launch any comprehensive analytics campaign. With Data Analytics, B2B organizations are able to make better decisions for their business.

Through this feature you can easily generate reports only on a daily basis to get insight of how well your business is doing in the market.

You’ll be able to identify with analytics which marketing strategy or business idea is working for you and which is not. You can also find what your customers are looking for in terms of customer experience as well.

All in all, using this new feature can facilitate running a successful business in this techno-centric world.

Now let’s look at some disadvantages of using a B2B eCommerce platform

A completely different shopping experience

If you’re switching from B2C to B2B even if the platform is eCommerce still remember it will be a whole new experience for you and the shoppers as well. To create a B2B eCommerce platform you have created a completely new eCommerce platform using all the B2B features to run your business.

Compared to B2C, B2B customers look for a fast-pace shopping experience. Initially, it’s quite intimidating to manage your business on this new platform.

Limited number of customers

Well, if you’re old in this business then it’s easier to shift your B2B business on an eCommerce platform. However, if you’re new in this business then it will be really difficult and frustrating for you to find B2B shoppers and start a business relationship with them.

Understanding the B2B equation

If you’re keen on succeeding in the B2B eCommerce world then you need to have this in your mind that B2B buyers are always looking for products or services that are created with incredible talent and skill. They never compromise on the quality of the product or services.

They also look for some tremendous flexibility so they can efficiently scale-up their business venture. If you want to crack a deal then you need to offer them outclass service.

This can be pretty challenging for any business as there are a lot of competitors so standing out in the market is difficult.

Complex Market to Setup

Starting a B2B eCommerce business isn’t as simple as it looks. Every B2B customer is always in search of something unique. You’ll have to keep chasing them in order to sustain your consumer base. You’ll have to make modifications according to their business needs.

When you own a huge consumer base this task becomes really intimidating because it is somewhat impossible to fulfill each and every customers’ unique needs.

Therefore, a B2B eCommerce business is just like a cat and mouse chase, never ending one.

By showing you the other side of this industry we don’t mean to discourage you but to give a complete picture of this business.

If you’re confused whether you should digitize your B2B brick-and-mortar business, don’t worry.

Below we’ve listed some of the most popular B2B eCommerce Businesses. All of these business organizations took the risk and invested in this new industry and today they’re making trillions.

Let’s check them out. Shall we?

Successful B2B Examples

Flexfire LEDs

A popular B2B eCommerce brand that is generating 80% of its revenue from its B2B eCommerce store. They focused on educating their customers thoroughly and providing a quality customer experience. They receive a good number of organic traffic on their store and they convert that into sales.

Berlin Packaging

Another successful example of B2B eCommerce who uses chats to make sales. They target the new visitors and communicate with them so they don’t leave the store without purchasing anything. They make full use of digital channels to generate leads and later on turn them into sales.

BulkBookStore

Similar to Berlin Packaging, BulkBookStore offers immediate assistance to visitors as they have enabled a pop-up chat widget on their eCommerce store. It allows customers to easily inquire about the product they’re looking for, they don’t have to spend time searching the product on the store.

Essential Takeaways

Well, this was just a short guide on B2B eCommerce.

B2B eCommerce is a huge digital platform, it will take you several months to ex[plore the dynamics of this industry.

Since, the society is becoming more techno-centric by each passing day, it has become a necessity to digitize your business in order to reach the pinnacles of success.