Posted On: Oct 28, 2021 By Tim
In this article we will look at why Magento 2 is the ideal eCommerce B2B solution, but first, we will look at why B2B
With lots of things moving digital, even in areas that have more normally conducted in person. For business to business, we are seeing shift towards a greater focus on being able to conduct business digitally.
This goes for more than simply allowing a business to place orders via a website, it is becoming part of the whole buying cycle, with people being partway through the buying cycle before having spoken to a salesman.
According to Google, 89% of B2B researchers use the internet in their research process and conduct 12 searches prior to engaging on a specific brand’s site.
So why are more B2B companies moving their business online?
The simple answer is, it opens up more doors for them. Having a B2B eCommerce website which lists their products, allows B2B companies to reach new customers and show off their wares.
This is because, we are doing more and more research online, which includes companies looking for new suppliers. This means that a B2B business having an online presence, which shows who they are and what they offer, they can reach new customers and get by getting them into their buying cycle.
It makes checking supplies simpler, with integrated stock management systems, whenever an order is placed, the stock will automatically be deducted and set aside on the stock system. If a lot of the orders are placed online, it can also make the whole process of sale and resupplying easier as alerts can be set up for when stock is low.
If B2B companies can get their customers to order online, a more seamless experience can be made for customers who want to make a repeat order. It is also much better for B2B customers to see the whole catalogue of what’s in and out of stock. For out of stock products, customers can be guided to alternatives via cross and up sells.
With all data accumulated in a single place, it makes reviewing and gleaning insights a much simpler process. Add on top of this, that a lot of eCommerce systems come with their own in-built analytics tools.
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For a successful B2B eCommerce store, it needs to have certain functionality that’s not necessary for B2C eCommerce websites. Magento 2 as a B2B platform offers all of these and more.
The catalogue can be tailored to your B2B customers. Magento 2 has the power to have greater control of your catalogue and set rules or your B2B customers
Unlike B2C, B2B companies normally sell in bulk. Using Magento 2 as your B2B system, each item can be set to have a minimum order quantity. You can also specifically sell products in packs, depending on the increment of your choosing for example, if you sell pens as packs of 10, you can set order increments of 10, so packs do not have to be split.
You are also able to set special pricing, this can include multi-buy discounts, where a percentage discount is applied to a product when a certain number is ordered, for example
Customer accounts can be used to apply specific pricing for that customer. Say for example, you provide a special price for a range of items that they order a lot of from you. On their customer account, you can set special price, only this customer will see when they are logged into Magento 2 site, this also goes for special incremental order discounts as well as much more.
The order process, whether you’re offering B2B or B2C, it needs to be simple and reliable. This can be more complex with B2B, as there is a higher likelihood that your B2B customers will want to place repeat orders. Customers, from their accounts will be able to see previous orders and select an order they wish to put through you again, making the re-order process very simple.
With the quick order functionality, the order process can be simplified for your B2B customers to a few simple clicks. This allows B2B customers to enter product SKU’s manually, or import them via a csv, with the quantity they wish to order. The system will then show what products are available to order and them to be added to the order.
With B2C websites, the checkout process only needs one option, the customer pays, the order is delivered. For B2B however, there are normally more options, which can make the process of finding the right B2B eCommerce platform more difficult.
Magento 2 provides multiple checkout options for B2B customers to help improve conversions, such as
Other than the normal, checkout and pay options, a streamlined quote request system can be added to the cart. This allows customers to submit an order and request a custom quote, which is then emailed to your team.
Many B2B customers offer credit to their customers, each B2B customer who has an account can given a credit limit, so they can checkout using the credit provided to them.
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