The reality is that the majority of manufacturers and distributors have recognized that businesses must adapt to survive. They’re just unsure about where to begin. As a result, we thought we’d share some tales of eCommerce for manufacturers and distributors that have transformed their companies. Now, let’s begin by reviewing some critical points.
Significant takeaways:
- While B2B eCommerce is dissimilar from B2C eCommerce, manufacturers may still make headway and improve profits via the use of a solid online marketplace.
- Manufacturing businesses of all sizes may profit from eCommerce, from HVAC and car components to timber and pet food.
- OroCommerce is a unified digital experience platform that provides a competitive advantage to your manufacturing company.
What is Business-to-Business eCommerce?
B2B eCommerce, or business-to-business electronic commerce, is the term used to refer to online transactions between two or more businesses. B2B eCommerce sells goods or services through an online sales platform or channel from one company to another.
B2B eCommerce is not to be confused with B2C eCommerce, which is a distant relative. B2B is much more comprehensive. A B2B website must address the particular difficulties associated with business-to-business sales, such as complex processes, customer-specific pricing, numerous personas, and multi-site instances.
Further, it is much more than a website. It is not just a matter of shopping carts and online purchases. B2B eCommerce is transformative when you consider the areas of influence inside your company. It’s about repositioning your business for the future.
What Manufacturers Gain from B2B eCommerce
Numerous manufacturers and distributors have existed for over 75 years. We have many discussions with businesses that are just not ready for digital transformation. As a result, we’re used to witnessing stuff like:
- We do not distribute to customers and therefore do not need an Internet presence.
- We’ve never taken this route in our 75-plus years in a company, and we’re doing just great.
- Contribute to sales? That is why we have a sales department!
- We have built our company on relationships; websites eliminate that element of customization!
When you’ve established a great company that’s been around for years, it’s natural to be hesitant to disrupt the status quo. However, companies who can anticipate where the industry is going will survive and thrive. Even if your company has been around for decades, eCommerce is an approach that future-proofs your business.
When we evaluate the outcomes our manufacturing and distribution clients have experienced since implementing eCommerce into their companies, we often find three broad categories of eCommerce benefits.
Also, manufacturers and wholesalers may achieve disruptive business outcomes via the appropriate eCommerce strategy and a powerful B2B eCommerce platform. These benefits include improved efficiency, increased engagement, and increased income.
Our Take on eCommerce for Manufacturers in a Post-Pandemic World
Your team is probably firehosed with duties such as monitoring order status or submitting a purchase order for a new order. These are all jobs that eCommerce for manufacturers might automate.
In addition, customers want and expect quick access to their account information, and your staff desires to free up time for more consultative duties and relationship development. With eCommerce, your employees and customers now have access to new tools and solutions that enable them to do their tasks more effectively than in previous years.
Here are four strategies for increasing efficiency via eCommerce:
- Reduce Your Customer Service Expenses
By offering robust administrative features and resources, you can reallocate your staff and reduce your total cost of ownership.
- Decrease the Cost of New Client Acquisition
Ecommerce allows you to acquire new consumers through digital marketing and provide channel partners with the resources necessary to discover new clients effectively.
- Increase Self-Serve Portals for Clientele
By allowing your consumers to self-serve via customer portals, you can save your CSRs time and money. They may check order status or history, make payments, get estimates, and access extensive product and technical product information through eCommerce.
- Increase Product Sales with a More Significant Profit Margin
Digital commerce enables you to sell higher profit, more comprehensive catalog goods that consumers usually purchase from other sources, including your rivals.
All About Engagement
As we all know, anything other than an Amazon-like experience will not be enough in today’s environment. Digital encounters that are frictionless are the expectation. If you do not provide the experiences that your consumers want and anticipate, your competitor will. B2B eCommerce enables you to provide a superior brand experience to your consumers, partners, and prospective customers.
Here are two strategies for increasing engagement via B2B eCommerce:
- Boost Online Engagement
Increase digital interaction with essential buyers, influencers, and channels based on personas. Additionally, contact them at the right time, whether in the field or at a desk, to increase income and productivity. Also keep in mind that in order to enhance your website’s organic performance and engagement, you must also consider optimizing your site for search engines.
- Facilitate the Transfer of Online Channels
With the addition of a new channel, you and your team can act as tactical guides, assisting with channel migration from offline to online and reporting KPIs to track performance and highlight weak points.
Let’s Discuss Profitability
Finally, there are many advantages to B2B eCommerce for your profit margin: income. You may achieve ambitious sales targets by taking your company online by establishing new channels, expanding into new areas, and giving data-driven suggestions to existing consumers. Here are four methods to increase income via manufacturing eCommerce:
- Sustain Loyal Clients
Make it simpler for consumers to conduct business with you and provide them more opportunities to interact with you through new channels and devices.
- Expand Your Client Base and Attract New Customers
With eCommerce, you can reach a wider audience than ever before. Moreover, when you are visible and discoverable online and provide comprehensive product information and engaging content, more consumers can find you – and your market share can expand.
- Impact the Value Generated Per Customer
Apart from acquiring new consumers and retaining existing ones, you may improve wallet share by offering intelligent merchandising and search capabilities, customized experiences, and tools to boost conversion rates, immediate purchases, repeat orders, and cross-sell and upsell.
- Maximize Income Generated by Each Product
Along with boosting revenue per client, you may maximize the value of your goods by offering better merchandising and data-driven suggestions for the next-best product, as well as online configuration.
In Summary
B2B eCommerce is just a massive industry. Indeed, Statista projects that business-to-business Internet sales in the United States will reach $1.2 trillion in 2021. Invariably, there are many advantages to B2B eCommerce that extend far beyond an essential website.
