ECommerce Startup Consulting Firm YRC decodes a few myths of B2B eCommerce

As a B2B enterprise, should you adopt eCommerce? Is it possible to find business clients online? Is having a business website or social media pages sufficient to attract clients? Will you be able to deliver the right experience over the internet? If these or similar other questions are making you apprehensive about choosing eCommerce, you are about to discover some additional perspectives. This blog highlights 5 common misassumptions that prevent business owners and decision-makers from realising the true potential of eCommerce for B2B which eventually creates hesitation.

ECommerce is not popular with B2B

Unlike in the past, eCommerce is gaining quick popularity with B2B companies. Today, B2B brands are reaching out to their clients by means of not just print media or their websites but also social media platforms like Facebook. This is not to say that they have dumped the in-person approach. As providers of B2B omnichannel consulting services, we could say with a fair degree of conviction that B2B companies are now switching to omnichannel. They are putting eCommerce and related business practices as a part of their channel strategy. Even governments around the world are using the eCommerce model for tendering purposes and many other public sector services like the issuance of trade licences.

What must be realised is that eCommerce is a medium of selling or distribution via digital platforms. The product or service in question could be anything. The parties involved could be individuals or organisations. The moot point is that the distribution takes place via online digital solutions. For example, assume that a departmental store wants to invite suppliers who fulfil certain criteria. There is no justifiable reason why the store would not use digital marketing and eCommerce to reach out to potential suppliers and do business with them digitally. Franchisors often use this strategy in new markets.

B2B needs a more personal approach

We are at a crossroads between physical and online technologies. On the macro timescale, we are living in an era where we are fusing online technologies with our physical world. The need for physical presence is getting compensated with a digital presence. Today, we can communicate with brands and businesses via emails, social media, messengers, or any other suitable digital medium. Basically, we need not be there physically and we all get it. The same phenomenon is also affecting B2B companies. The need for a personal approach, at least in the initial stages, is getting replaced by digital makeovers. Today, we have AR and VR technologies, video conferencing, real-time document sharing/editing, videos and images, chatting, etc. These tools and technologies are compensating for physical presence to fulfil a given set of requirements. For example, we are a retail and eCommerce consulting brand with a global presence. We receive numerous service queries and interests via our website. Despite the geographical barriers, our communication or service delivery is not affected. Even when we are serving remotely, we can work in cohesion and our processes are not compromised. So, if you are the owner of a business enterprise, using eCommerce could help you reduce the dependency on physical representations.

Ecommerce only a formality in B2B

Many B2B companies are apprehensive about going for full-scale eCommerce capabilities. They simply maintain a website and business pages on social media platforms for informational purposes. Such half-hearted efforts are unyielding. Realising the true potential of eCommerce requires a dedicated and extensive approach depending upon the business requirements. For example, if a dark store is capable of fulfilling bulk business orders, restricting its eCommerce capabilities will do no good. It can have a separate order fulfilment process for its business clients or bulk purchases. This will also entail some efforts on the digital marketing front. The B2C order fulfilment process must be alienated from the one for B2B. But the exact same approach may not be necessary for a wholesaler. As a B2B entity, it needs to emphasise making the purchasing journey for its business clients easy and convenient with the use of eCommerce. These could be for placing purchase orders, initiating replacements and refunds, delivery tracking, suggesting personalised recommendations, etc. There are plenty of ways in which B2B companies are making use of eCommerce in enhancing their business and presence in their respective industries. Treating eCommerce as a formality is limiting the potential for the growth and development of business.

Not sufficient buyers in B2B ECommerce

The majority of new-age B2B startups realise the potential of eCommerce sales. Ecommerce constitutes a strategic element in their channel mix. Many renowned brands cutting across industries have adopted eCommerce to improve their market outreach and the capabilities of their distribution function. As retail customers seek multiple buying options, businesses also actively look out for suitable clients and associates. And eCommerce helps in this pursuit as it improves the networking potential of businesses via digital platforms running on the internet. It would be na?ve to assume that businesses cannot find clients through digital marketing.

Companies like DHL and FedEx have intensified their activities in providing services that facilitate B2B eCommerce. This is a big indicator of the growing B2B eCommerce industry. One of the main reasons for any sizable logistic company to be involved in B2B eCommerce is their capabilities and expertise in providing logistical services that also include for B2B trading.

B2B buyers are not open to online marketplace platforms

If B2B buyers never went to online marketplace platforms, then brands like Amazon or Alibaba would not have been successful at what they do. Every day, thousands of B2B transactions take place via online marketplaces. There is absolutely no reason why a company should not buy from an online supplier if there is a vantage point. Developments in logistical infrastructure further boost this reasoning.? The same reasoning is true the other way around. If you are a seller, your business objective should be to look out for buyers who are willing to pay your best price. If you find suitable business buyers on online marketplace platforms, then so be it. ECommerce is an added leverage and having a presence on the right online marketplaces only makes business sense.

About Your Retail Coach (YRC)

YRC is a retail and eCommerce consulting brand with over 10+ years of experience. Our journey covers working with 500+ clients in more than 25 verticals. As a growing global brand, we endeavour to uphold world-class standards in our B2B eCommerce startup assistance solutions and services. We engage professional and experienced retail and eCommerce consultants in every project.

To know about our B2B eCommerce consulting services or to speak to one of our B2B eCommerce startup consultants, please drop us a message.

To know more about this topic, do watch this video on: B2B E-Commerce Myths (You Must Know): https://www.youtube.com/watch?v=ZBnAa1cwNYM