B2B Online Store - Great Challenge with Huge Potential

B2B (Business-to-Business) is a term that refers to trade between companies, or legal entities, as opposed to B2C (Business-to-Consumer or Business-to-Customer), which represents the sale to natural persons by legal entities registered for that activity.

eCommerce expansion resulted in an increasing need for wholesale traders to showcase and sell their assortment on the web, aiming to facilitate the process of promotion, sales, and product delivery, while enhancing the efficiency of their operations. Neglecting the digital sales channel results in companies losing their customers, business processes becoming slow, and numerous opportunities are missed, while the competition progresses by turning to online commerce.

Online stores are open 24/7, 365 days a year. Purchasing for new and existing customers is significantly simplified, and it can be done anytime, from anywhere in the world, using any device.

Distinctions of B2B and B2C online commerce

Although at first glance it may seem that there is no difference between B2B and B2C online commerce, there are several factors that influence the setup and operation of these forms of online commerce::

• Decision-making process – individuals often make purchasing decisions independently or with close family members. On the other hand, the decision-making process for legal entities is much longer and more complex. A greater number of decision-makers prolong the procedure, which can last for several months.
• Payment methods – while individuals choose the payment method at the time of order, for business customers, this aspect often depends on numerous factors such as mutual trust, order quantity, and previous cooperation, and is often defined by contract.
• Prices – excluding loyalty programs, the prices at which individuals can order products in a web shop are the same for everyone. On the other hand, the prices and discounts of products for legal entities vary in practice.
• Purchase value – the average value of online orders in Serbia is around 3000 dinars, while the value of the average purchase for legal entities is significantly higher.

Key functionalities of the B2B online sales platform

The differences mentioned above complicate the online transaction process between legal entities, which is why careful planning of online channels is important, both internally and externally - through the selection of an online sales platform, as well as partners who will provide necessary technical and logistical support. A B2B online trading platform must operate seamlessly to reach its full potential. Several features of critical importance must be considered when choosing the platform on which the online store will operate:

1. Partner (buyer) registration on the portal. When a buyer registers on the portal, and their registration is approved by the merchant, the buyer is granted access to all relevant information - prices and discounts, delivery terms, order statuses, delivery deadlines, order history, credit indebtedness, discounts, and the like. The B2B portal addresses questions before the buyer even asks them, saving time for employees who no longer have to make repetitive phone calls.
2. Multiple price lists - Product prices often vary from buyer to buyer and are usually defined by contract. When a B2B buyer logs into their profile on the webshop, they must have access to a catalogue with sales terms that apply to them. 
3. Discount calculation – both in traditional and online commerce, there needs to be a capability to calculate discounts based on ordered quantity, order frequency, payment method, and other factors. The online sales platform should have discount calculation functionality to expedite the process and reduce the possibility of errors.
4. Real-time inventory status – the buyer wants to know how many products are available. Integration with an ERP system provides insight into the real-time inventory status, automating the verification process without the need for constant checks and contacting the merchant.
5. Creating and exchanging necessary documentation - online transactions are accompanied by documentation necessary from a legal standpoint, as well as for quick and easy order processing and sending. Automatic document processing functionality simplifies the entire process and increases accuracy.

In addition to this, B2B online stores should comply with the practices implemented in B2C online stores, which achieved great significant results in sales such as: 

1. Enticing design and content - An appealing design of an online store enables a company to present itself properly, while engaging content attracts new and existing customers, conveying as a professional, knowledgeable merchant. 
2. Precise and showcased information on products - product info should include specifications, warranty, high-quality photos, user manual etc. A merchant has the best knowledge of their products and customers and should keep the product information up-to-date and relevant. Product comparison is an additional feature that simplifies the process further. 
3. Simple webshop navigation - customers lack time and require information at a single click. Today, ease of use is critical, including effortless navigation, intuitive categorisation and product filtering by desired attributes. Today, swift search stands as an imperative and it must operate seamlessly to keep the customer satisfied. 
4. Responsive design - the webshop mobile traffic surpassed 80% a long time ago, while sometimes it reaches 90-95% of the total webshop traffic. Hence the design has to be amended to different devices and different screen resolutions
5. SEO and digital ads capabilities - one of the strongest advantages of B2B online sales is simpler promotion. There is no need to contact unacquainted companies from the phonebooks, sending catalogues, or for commercialists to travel across cities, holding long and exhausting presentations. With proper optimisation, as well as digital advertising platforms like Google and Facebook Ads, potential customers come to the online shop of the B2B merchant, just when they are searching for products from their assortment. Platforms that enable quick and easy content management on the public part of the website further make the promotion even easier, as there are numerous ways for merchants to present new products, communicate promotions, clearance sales, etc.
6. User-friendly platform - eCommerce platform along with all the features included, must be easy to use, both for merchants and customers buying online. 

Proper webshop setup, and integration with the ERP system, courier services, and other partners facilitates automation of numerous operational tasks. When the platform works for the merchant, they have more time to focus on further company development and expansion.  If there is a need and desire to establish a B2C online store alongside the B2B, there is no necessity to create two separate online shops. One portal can address both individuals and legal entities and enable seamless online purchasing.. 

If you are still unsure whether you need a B2B online store, you can always contact us, and together we will find an optimal solution for your business.