One size does not fit all, particularly when it comes to the distinctions between business-to-business (B2B) and business-to-consumer (B2C) consumers’ purchasing processes. B2B buyers tend to make decisions based on logic and processes, while B2C buyers tend to make decisions based on how they feel. The professional buyer who transacts business-to-business must meet a particular business need. The decision to buy won’t be made on the spot. Instead, a buying calendar that is often in sync with organizational needs will be used to plan ahead. B2B eCommerce goes beyond anonymous, faceless transactions, so it needs a whole new way of selling. Working with a B2B-experienced eCommerce agency is essential if you’re a B2B merchant.
Here are four reasons why hiring a company with experience in B2B eCommerce solutions is essential to the success of your online shop if you are a retailer who sells goods to businesses.
B2B customers purchase differently
Customers who buy from B2C companies usually buy one thing at a time, so your eCommerce website and the customer will usually work together during the buying process. The decision-making process is more personal and takes less time. Most of the time, the sale is driven more by motivation, desire, and a need to be satisfied right away than by logic.
When choosing products for your personal use versus your business, the process looks extremely different. B2B clients frequently spend a lot more time researching products before making purchases, and emotions rarely play a large role in their decision-making. Once customers begin to experience some benefits, they will visit your site to find out more and look at all the relevant product information. They frequently investigate rival possibilities and seek out reliable third-party reviews. The stakes are enormous because any purchase has a direct influence on their business.
In conclusion? B2B clients make distinct purchases. You must change if you want to stay in business in the face of the explosive growth of the B2B eCommerce market.
- No such “B2B customer” exists. They are diversified in terms of geography and demographics across all sectors.
- For B2B purchasers, choosing to buy is not a simple “buy” or “don’t buy” choice.
- In order to succeed in B2B marketing in 2020, you must develop one-of-a-kind self-serve experiences that appeal to all sorts of buyers at every step of the buying cycle.
You should collaborate with an eCommerce agency with B2B experience because the whole buyer journey for B2B customers is different. If the agency you’re working with has expertise working with B2B clients, they are already familiar with the B2B buying model irrespective of the products you’re selling. With that knowledge, they’ll support your online success. Also, if you already have an online store, they will work with you to make it even better.
Customers of B2B Companies Desire to Be Educated
The B2B industry is becoming more digital, as 73 percent of millennials are now actively involved in making purchases for companies. According to the data, 70% of B2B purchasers start their shopping process online. While looking for answers, they look for facts and data to help them decide what to buy, and they can easily get too much information. The following educational statistics are significant to B2B buyers:
- 48% of B2B buyers do research on vendor websites to decide what to buy and figure out the return on investment (ROI).
- Compared to 2019, 77% of B2B buyers claim to have spent more time conducting research before making decisions.
- Mid-stage buyers are most concerned in case studies (40%), webinars (50%) and evaluations (58%)
Business-to-business buyers appreciate vendors who make it simpler for them to complete transactions. Whatever industry you are in, you need to always develop new ways to inform your existing and potential customers. Over three-quarters of B2B buyers think that providers should give them information that fits their needs. What they value most is
- Cost and competitive information are readily available.
- information that is relevant to their industry and demonstrates their vertical expertise
- easily accessible, ungated information Research papers and product data sheets from vendors
- White papers and other research-based thought leadership materials
- Gartner research shows that buyers are three times more likely to be happy with a big purchase and have a high level of buying ease when they think the information offered by suppliers will help them with their purchase.
Orders from Businesses Need Special Processing
Unless you’re selling cars or other expensive things online, the ordering and delivery process is mostly automated. In addition, if it isn’t, it needs to be, and an expert eCommerce company can put it into practice for you.
Automation is uncommon for typical B2B orders. In general, products cost more or are purchased in larger quantities when they are purchased in bulk. The majority of purchases are larger and necessitate more intricate logistics. If you’re selling office furniture to businesses, for instance, you probably won’t take an order for just two chairs and a table. They can pick those up at the neighborhood IKEA.
Small orders are unusual in business-to-business trade. When receiving orders worth tens of thousands or even hundreds of thousands of dollars, it is usual to need the client’s approval before sending or processing the transaction. Credit lines are more likely to be used with these larger orders than payment options like credit cards. Business-to-business transactions are different from business-to-consumer transactions in that they sometimes need dropshipping from manufacturers or freight delivery because the products are heavy or the purchases are large.
A business-to-business (B2B) eCommerce consulting firm can help you come up with a more efficient way to handle payment and order fulfillment.
B2B Marketing Needs a Different Approach
Because B2B customers are different from other consumers, you must sell your brand and goods in a distinctive way. For B2B commerce buying, everything is different, including the content you provide and the locations of your advertisements. You must nurture leads in order to successfully advertise your B2B goods and services.
Customers in the business-to-business sector may be interested in some of the same B2C perks, but they won’t be placing an order for $100,000 worth of goods because they saw an ad for them. This is simply not how things work. A personal touch is necessary for big deals. Your salesmen might need to have several touchpoints in order to seal the deal. The entire procedure has to be more clearly defined and run smoothly.
When you work with an eCommerce agency that has experience with B2B marketing, it’s more likely that you’ll come up with a good marketing plan. That’s especially true if the company you’re working with offers a full suite of services, including not only strategy and planning but also the technical implementation and management of your marketing campaign.
B2B or B2C are not always the case
On paper, it’s simple to distinguish between B2B and B2C enterprises. However, things aren’t usually that straightforward in real life. A business-to-business company need not sell its products only to other businesses in order to qualify. B2B sales include wholesale transactions, sales to other resellers, and sales to nonprofit groups that aren’t “companies.”
Even some companies use both B2B and B2C business models. A wholesaler that also does direct sales to customers may be found. As a result, there are times when it’s difficult to draw a distinction between these two opposing business strategies.
You need to find an eCommerce firm that has the expertise to help you define (and refine) your business’s B2B and B2C components and then create a unified eCommerce solution that can effectively serve both of them.
Nowadays, even the most traditional B2B companies are attempting to sell online. All businesses, whether B2B or B2C, are hopping on the eCommerce train. Additionally, when developing your B2B eCommerce website, appropriate experience matters just like it does with anything else.
Working with an eCommerce agency that has experience with B2B eCommerce platforms can make the process much easier and make it more likely that you’ll find the best integrated solution to meet all of your business’s needs. At Ceymox Technologies, the best e-commerce development company in India, we are having expertise in developing e-commerce stores from scratch for both B2B and B2C purposes. Let us know your requirements.