A look around and one can find thousands of startups following the B2C business model. With so many businesses to compete with for the same set of consumers, growing and scaling in a consumer-serving venture can pose a challenge for the businesses. Unlike B2C culture, B2B e-commerce is itself growing at a very fast pace and is pulling the businesses along with its growth. As this market is looking for innovation, businesses are now moving from the B2C e-commerce towards the B2B e-commerce platforms where they can use their advanced and innovative business ideas with a more targeted audience. Not just that, a business-to-business e-commerce system also facilitates multi-system integration to businesses and offers ease of order and customer relationship management. And it does not stop here. Below, we are giving 5 principal reasons why businesses should move from B2C to B2B e-commerce.
According to a Forrester research report, B2B e-commerce would expand and touch $1.2 trillion by 2021 from the $889 billion estimated by the end of 2017. The increasing size of B2B e-commerce is luring various businesses from the B2C ecosystem to clutch lucrative gains. The massive increase in the size of the B2B industry has doubled in size as compared to B2C e-commerce market. The incorporation of the state-of-art distribution channels and excellent omnichannel customer experience by manufacturers and wholesalers are leading to a growth in the e-commerce market. The cloud platforms are also transforming B2B ecosystem and increasing the selling and scaling speed with integrated CRM, order management and other systems. This growth in the B2B e-commerce industry is compelling the businesses to move from B2C to B2B e-commerce.
Data is money in today’s digital landscape and B2B enables the businesses to gain access to millions of bits of data surrounding their customer behavior. There are several powerful e-commerce software that lets the businesses streamline and automate their development and marketing strategies as per the customer insights. It assists the marketers in launching a successful analytics campaign to analyze the results of the marketing efforts and mold the strategies accordingly. Integrating the B2B e-commerce platform with ERP systems proves even more effective in calculating the sales statistics for each individual client. This access to client data is not possible in B2C e-commerce and that’s why many businesses are moving from B2C to B2B e-commerce.
B2B e-commerce is transforming, all thanks to the state-of-art cloud technology. It is helping the businesses expand, disentangle complexities, onboard trading partners, automate the order management, and substantially reduce the cost of operations. The multi-device and omnichannel approach offered by cloud integration is enabling the businesses to improve the collaboration efficiency and opening up new avenues of business networking. The cloud-based e-commerce platforms have built-in systems that ease the complex processes and enable the B2B sellers to offer fast, accurate, and transparent delivery. B2C e-commerce is still untouched by the cloud technology. Thus, this ease and automation is compelling businesses to move from the B2C to B2b e-commerce.
The business scalability options offered by the B2B e-commerce ecosystem are plentiful when compared to the scalability option in B2C e-commerce. B2B e-commerce solutions enable the companies to scale their business concurrently with the increasing customer and market demands. The B2B e-commerce opens up new sales channels for the B2B sellers and supports them to cross the chasm of isolation and reach out to a new market segment. It creates an online presence for the businesses and opens up a path to new business opportunities, thus helping them scale to new heights.
B2B e-commerce can certainly facilitate the B2B sellers to reach out to new clients and increase their overall sales. Not only does it help the B2B businesses find new clients, it enables them to pave a way to new markets. The modern technologies inculcated in B2B e-commerce drive new customer acquisition from the existing market as well as newer markets. Selecting the right e-commerce platform is crucial to ensure that it is laced with the technologies that open up opportunities for new market and clients. Businesses trying to expand their reach to new markets are moving from B2C to B2B e-commerce.
These are some of the reasons why businesses are making a move from the B2C e-commerce to B2B e-commerce. Indeed, the B2B e-commerce platform is empowering the businesses to evolve their overall offering to the market in sync with the advancing technologies and boost their online sales. So, make a move and show off your innovative business ideas for future growth.