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The B2B eCommerce market is experiencing rapid growth. A survey shows it is projected to reach $60.62 trillion by 2034.
As the B2B eCommerce market expands, customer expectations rise too. Here are Gartner’s key findings that indicate the change in B2B customers’ buying behavior.
As the B2B eCommerce market expands, customer expectations rise too. Here are Gartner’s key findings that indicate the change in B2B customers’ buying behavior.
These are just a few. The list of expectations is long.
Is your existing eCommerce solution capable of meeting these expectations?
If not, you need a digital platform with futuristic B2B eCommerce features. Enable your B2B buyers with a faster, streamlined, and engaging buying journey that improves customer engagement and conversions.
Ready to explore essential B2B eCommerce features?
Let’s get started!
By developing and integrating advanced eCommerce features, B2B organizations can optimize their tedious and time-consuming processes with dynamic ones. Build B2B eCommerce solutions with the following features to deliver intuitive customer experiences.
B2B businesses often place large orders. Searching for each product manually from the online catalog takes too much time and effort.
Instead, provide your buyers with a bulk ordering form, where they need to fill in
Once the customers submit the form, they should be redirected to the checkout page for order confirmation and payment.
One of the most essential B2B eCommerce features that helps you increase your sales.
With each passing day, the B2B market becomes more competitive. Thus, brands struggle to attract a large customer base and increase revenue. Tech-savvy buyers expect personalized product recommendations and content experiences.
Opt for a B2B eCommerce platform with AI-based product recommendation algorithms. It analyzes customer behavior and suggests the most relevant products that drive sales opportunities.
Ensuring product availability is crucial in the B2B industry. Inventory tracking and management are essential to avoid overstocking and understocking situations. It allows you to share updated inventory information with clients.
The client feels frustrated if they realize the product is out of stock during checkout. Instead, show them the product availability status while they explore the catalogs. It helps them focus on ordering available products.
If your eCommerce solution does not contain a real-time inventory update feature, it may hamper your sales, brand reputation, and customer trust.
Real-time inventory updates ensure smooth supply chain operations, too.
Furthermore, access to accurate inventory levels is essential for businesses with a just-in-time strategy.
B2B companies have a wide range of products to sell, and B2B buyers need to shop for a large volume of multiple products. Thus, the product discovery process becomes complicated.
To simplify product search, you can integrate the catalog management feature.
Modern B2B eCommerce platforms contain advanced catalog management features. It allows you to
Cutting-edge eCommerce platforms manage all product data in a single platform and generate tailored catalogs with accurate attributes, variables, and restrictions for different B2B eCommerce website solutions.
Typically, a B2B buying group involves 6 to 10 stakeholders.
Involvement of multiple decision makers results in a complex and lengthy B2B buying process.
To simplify the purchase, facilitate each stakeholder with separate login rights to the B2B eCommerce solution. Provide the data access permissions based on their role and responsibility.
Manage all the user accounts from the admin console of B2B eCommerce solutions. It allows you to define account hierarchy based on roles and responsibilities for sub-accounts.
User permission is one of the essential B2B eCommerce features that
Value-added offerings of the feature are
Allow your buyers to send a Request for Quote (RFQ) using an online quoting system to streamline the process and reduce the back-and-forth. Once your sales team receives quotes, they can review the quotation and negotiate the price by considering the best possible discounts for the final pricing.
Enhance the customer experience by establishing an effective quotation and negotiation process.
Most B2B purchases are in bulk. You cannot pack every single product separately. You need to deliver the products in packs, cartons, pallets, cases, etc. While packing the large orders, check for the discounts you can offer.
Considering advanced B2B eCommerce platforms, you can define customized discounts and pricing for each customer and customer group. Based on the order quantity, you can offer bulk discounts that help you increase your customer base and profitability.
B2B businesses have complicated product catalogs. It is difficult for your sales team to navigate customers through all the products.
Leverage the built-in search and navigation capabilities of B2B eCommerce platforms and let your customers reach their preferred products effortlessly.
Modern functionalities that you can consider for product search are
Drive up-sell and cross-sell opportunities by offering personalized search results based on inventory level and customer preferences.
As we have already discussed, multiple stakeholders are involved in decision-making while you work with other businesses. To manage all the users under a single corporate account is critical for an effective buying process.
Go for a digital platform that facilitates you with robust B2B eCommerce features like corporate account management. Manage different buyers of the same organization under one business account and help them make purchase decisions faster.
Attract large-scale organizations with multiple stakeholders by facilitating them with
In the B2B domain, pricing is complex as it is calculated dynamically based on the specific pricing and business rules. Moreover, the pricing depends on various factors, such as
Using the pricing lists feature, you create and customize pricing for each company, customer, and business unit that purchases products from you. The price lists become more complicated due to
Ensure the defined pricing is synced with your ERP system to improve data accuracy across the systems and simplify the pricing-related operations.
Shopping lists are a “wish list” for B2B customers.
By integrating this feature into a B2B eCommerce solution, you can allow buyers to create and save a list of products they buy frequently. They can place an order for individual products or the entire list. Reduce the ordering time for corporate buyers by simplifying repurchasing.
Most B2B merchants receive inquiries for large orders. They define the customer group and segmentation based on the products and quantity ordered. By classifying the customer groups, B2B companies can define
While defining a customer segment, you need to consider different aspects, including
Create a tailored shopping cart experience based on customer segmentation and profile. Improve conversions by providing personalized content, pricing, payment, and delivery options to the right customer profiles.
B2B merchants use analytics to understand customers’ buying behavior and improve their inventory management, supply chain, and delivery operations. Custom reporting is an integral part of eCommerce analytics.
Custom reports provide the marketing team with exclusive insights about customers. Analyze the buyers’ purchase patterns and run the marketing and sales campaigns accordingly. The data-driven sales and marketing approach helps you gain better results.
Automation is taking over the world, and B2B eCommerce is no exception. B2B workflows are complex. The merchants need to streamline and automate them for faster business operations. The popular examples of B2B companies using automated workflow are
Look at the key findings of BCG regarding the mobile usage across B2B buyers.
These numbers indicate an increasing use of mobile commerce among B2B customers.
Ensure your B2B eCommerce solutions work seamlessly on mobile.
With advanced eCommerce platforms, you can leverage solutions like
Unlike B2C customers, B2B buyers have also started buying the products from different digital channels such as marketplaces, social media, websites, eCommerce portals, and more. Select a B2B eCommerce platform that allows you to sell your products across all the popular channels.
The B2B eCommerce features, like multi-channel sales, ensure
Expand your presence across all digital channels and meet your buyers where they prefer to purchase. Promote your products and business on various online platforms to increase brand awareness and customer engagement.
With the emergence of digital space, B2B buyers also want an online shopping experience, unlike B2C buyers. Self-service is one of the popular B2B eCommerce features that play a key role in buyers’ decision-making and attaining business objectives.
Self-service portal significantly impacts customers’ buying decisions.
Ensure the portal has a user-friendly interface so buyers can navigate the solution and place orders without contacting sales reps. The portal should facilitate the B2B buyers with
While choosing a platform, ensure it contains analytical capabilities and provides exclusive insights about the various business aspects that impact your strategic growth. Advanced analytics provide B2B merchants with exclusive insights into
In the B2B industry, monetary transactions are complicated as payment depends on predefined terms and conditions. Moreover, there is no standard price for all corporate customers. It varies from customer to customer.
To make a payment, companies can opt for a suitable way from the different options, which involves
You can make a payment through traditional ways such as credit cards, checks, bank transfers, electronic fund transfers, etc. However, with modern B2B eCommerce platforms, you can have access to more advanced payment options, such as
Once the payment is done, you can transfer that information to other systems to optimize the operations. Thus, along with payment gateways and processor integration, ensure synchronizing orders and payments to financial and accounting systems.
Integration capabilities are crucial in a B2B eCommerce business to streamline, optimize, and automate various operations. Select a platform that allows you to add enterprise systems and all third-party apps/software.
Cross-system integration ensures access to updated and accurate data across all systems. Correct data provides critical insights that help you refine your business strategies and gain a competitive edge.
The eCommerce platform should allow you to integrate systems like
If you are building a new B2B eCommerce solution or portal, or want to optimize an existing one, these features are essential to integrate to attain optimum results. Enhance customer experience by facilitating B2B buyers with intuitive buying journeys.
ioVista, a leading B2B digital transformation provider, helps B2B brands build feature-rich eCommerce stores that appeal to B2B customers and drive better sales opportunities. Leverage our proven expertise in developing and implementing custom features to meet your business-specific B2B eCommerce needs.
Are you ready to pave the path to B2B eCommerce success with ioVista? Connect with our certified experts to start your journey towards immense growth and expansion.
In the B2B eCommerce domain, several payment options are available for the buyers. The most popular e-payment mechanisms are credit cards, debit cards, purchase orders, electronic funds transfers, wire transfers, and more.
In the United States, ACH payments are considered an efficient and cost-effective payment mechanism.
By integrating the corporate account management feature in B2B eCommerce solutions, B2B brands can nurture, maintain, and strengthen relationships with corporate buyers. Allocate dedicated account management to your business account to deliver a better experience. It helps you understand your client’s needs, identify opportunities, and provide personalized support.
Integration of CRM and ERP systems in your B2B eCommerce website solution improves customer experience, enhances efficiency, and provides better visibility of your business operations. Moreover, you can make faster decisions, achieve accurate inventory management, and streamline order management, as the integration offers a unified view of business processes and customer data.
Mike Patel is the Founder and CEO of ioVista, a leading digital commerce agency specializing in eCommerce solutions. With a strong background in business and technology, Mike Patel has been at the forefront of driving digital transformations for businesses. He has successfully navigated the ever-changing landscape of eCommerce, helping companies leverage the power of online platforms to grow their brand, increase revenues, and optimize their digital presence. Under his leadership, ioVista has become a trusted partner with major technology companies: Adobe/Magento, Google, BigCommerce, Shopify, and Yahoo. He is dedicated to staying ahead of industry trends, adopting cutting-edge technologies, and continuously improving strategies to provide clients with a competitive edge. Mike’s commitment to excellence and client satisfaction is evident in every project ioVista undertakes.
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Mike Patel
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Mike Patel
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30 Apr 2024
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30 Oct 2023
Mike Patel
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Mike Patel
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Albert Wood
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29 Mar 2023
Mike Patel
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Albert Wood
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Albert Wood
12 Jan 2023
Albert Wood
05 Jan 2023
Mike Patel
20 Dec 2022
Albert Wood
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Mike Patel
09 Dec 2022
Albert Wood
24 Nov 2022
Albert Wood
17 Nov 2022
Mike Patel
17 Nov 2022
Albert Wood
04 Nov 2022
Albert Wood
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Albert Wood
07 Oct 2022
Mike Patel
27 Sep 2022
Albert Wood
15 Sep 2022
Mike Patel
10 Sep 2022With 20+ years of industry experience, ioVista understands your eCommerce needs and delivers best-in-class solutions that help you gain a competitive edge.
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