B2B companies are growing big and grasping more attention than B2C companies. It is the most overheard statement in the market these days.
According to the global survey, it is concluded that B2B eCommerce is predicted to grow two times bigger than B2C from the year 2020-2025. It is claimed that 73% of online buyers look forward to buying from the B2B platform. And that’s the remarkable result experienced by the B2B industry in these years.
With the growth of the eCommerce industry, B2B customers are considering spending on the strategies and solutions offered by B2B platforms which can help to experience a boom in their business. After the COVID-19 crisis, many enterprises faced a decrease in sales. Though now there have been changes noticed in the purchasing behavior of buyers, ultimately leading to an increase of sales scale.
The eCommerce sector might look like one universal market. But there is a huge difference that brings a change in buying experience.
The functionality of these enterprising and retailing platforms makes them different from each other.
- B2B helps the company to establish its brand and connect it to the right audiences.
- B2B involves customers with different needs and roles.
- B2B increases credibility by having larger influences in the market.
- B2B fulfills specific company needs, focused on bulk orders by Retailers from Wholesalers
Let’s understand why there is a demand in B2B online portals
Value-driven & Educational Approach
B2B platform reaches a wider marketplace. It offers customers with a customized store option that helps sellers to generate easy revenue. This also helps in educating buyers to understand what products they are buying. It gives a clear value of the products to the customers. B2B highly focuses particularly on the needs of every associated company and brand.
Maintain Long-term Relationship
In B2B, building and maintaining relationships is a crucial part as the trading cycle is longer than B2C. B2B avails real-time chat option before buying. Once the relationship is built and the buyer chooses to purchase from a particular seller, it builds trust within each other. Sellers receive a loyal and returning customer for life. Similarly, it becomes easy for buyers to choose trusted sellers for more successful deals.
Ideal Functionality
B2B platform functions step by step, helping customers for easy access to buying. Better marketing technologies help to handle the process of bulk ordering and pricing, account management, and multiple shipping/payment capabilities. Systematic planning and process are key for all the buyers and sellers to do business.
More Profitable
Buying or purchasing products in bulk give more profit as per the wholesale price. Whereas on B2C, buyers purchase products at the market price. B2C sellers earn bigger money after selling it to a thousand customers while B2B makes better money by selling larger products at once.
24/7 availability
Better customer communication improves growth in the businesses and simplifies the purchasing process for buyers. The efficient resources help to solve customer’s problems related to the products and services. B2B is always responsive and is available 24/7 for their customers.
