What is B2B eCommerce and How it Works for Your Business?

How’s your business during the pandemic? Are you having a hard time sustaining your physical business? Well, have you known about B2B ecommerce Malaysia to sustain your online business yet?

Now, this is the sign for you to change your business direction and become involved in online business and use the method of B2B ecommerce. You might think doing online business is time consuming and a little bit of hassle because after your customers make payments through online transactions, you have to pack your products and deliver them to the post offices.

But, if you look at the bigger picture, doing online business has more benefits from physical business.

E-commerce Business Models

Before establishing an online presence for your business, it is important to choose an e-commerce business model that is suitable for your business. An e-business model is basically the strategy that a firm adopts in order to establish itself as a successful business on the web. There are four common types of e-commerce business models such as B2B, B2C, C2B, and C2C. 

For this article, you will find out more about Business-to-business (B2B) e-commerce business model.

B2B Meaning and Example

The B2B full form is Business-to-Business as a kind of transaction between companies, such as one involving a manufacturer and a wholesaler, or one involving a wholesaler and a retailer, or one involving a manufacturer and a distributor. Instead of referring to commerce done between businesses, business-to-business refers to business conducted between corporations and an individual customer.

B2B ecommerce growth from USD 7659.4 million in 2020 and it would be expected to reach USD 13630 million by 2027. The B2B examples are Amazon, Alibaba, Rakuten, IndiaMART, Mercateo, Magento (Adobe), and more. 

Benefits of B2B e-Commerce

Traditional B2B physical business would allow you to go to the physical store and buy in bulk quantities with a cheaper prices. However, during the pandemic, there is a limitation for you to buy straight from your manufacturer, wholesaler, or retailer. But with the touch of the Internet, you can buy and communicate on buying your products in bulk quantity. For example, bundle cloth buyers nowadays bought their items online. . 

B2B eCommerce solutions, in addition to letting your consumers buy your goods online, provide a slew of other advantages to companies, helping them to boost revenue, improve productivity, and access new clients and markets.

Anyway, here are the benefits of B2B e-commerce:

Profit from a Massive and Rapidly Expanding Market

The business-to-business eCommerce industry is enormous. It is twice as large as the business-to-consumer sector (B2C). The online sales experience has become more convenient for buyers, as opposed to purchasing through a sales person in the past. Companies will have a major advantage as a result of this development.

More Buyers, More Money

As a consequence, B2B eCommerce software is an extremely efficient method to reach new consumers, as it helps to improve your online presence while also assisting prospective new clients in finding you via search engines such as Google.

New Markets

As soon as you launch your B2B e-commerce site, your sales activity is no longer limited by the availability of your sales staff. Online sales channels are open 24 hours a day, seven days a week, 365 days a year for your convenience. Customers from various markets and time zones will find it much simpler to purchase your goods as a result of this.

Speedy Delivery

Rather than needing to manually monitor and track orders and inventory, a synchronised online system enables businesses to sync data across all channels, automate fulfilment and inventory changes, and handle complicated orders without any additional labour costs. This results in faster, more accurate, and more transparent delivery, and, ultimately, more pleased clients.

Strategy, Trends, and Ideas

Planning strategy for your business is a common thing. Without any strategy, your business probably does not have any mission or goals. So what do you want to achieve in your business? What are the goals and mission of your business?

So, here are some B2B e-Commerce strategy that you should consider:

• Adding more product information on your B2B website
• Make use of social media marketing
• Create a website that allows users to search for products based on the kind of product, the product name, or the SKU number.
• Provide customers with a variety of purchasing and pricing choices.
• Your company’s ratings and reviews should be made public so that potential customers may get confidence in your company’s worth and trustworthiness. Including the names and pictures of your reviews will help to create a feeling of trust and authenticity among your audience.
• Improving the functioning of your website on mobile devices may result in increased revenue.
• Improve your customer service by providing live chat options to your customers. 

Furthermore, to be more effective, there are some B2B eCommerce trends that you can follow such as:

• Instead of improving the existing online sales system, mobile B2B e-commerce would assist B2B businesses in developing a new online sales system. Business-to-business vendors will find it appealing to take advantage of the usual benefits of mobile commerce such as quick login, push notifications, and data analysis.
• Mobile applications and marketplaces such as Amazon are on the increase, which is a strong indication that B2B merchants are moving rapidly away from embryonic ecommerce channel testing and toward complete omni-channel sales methods.
• Customer loyalty programmes are often only seen in the B2C sector, but just as customers demand more from vendors, B2B buyers expect more from their suppliers as well, according to a recent study. In addition, loyalty programmes may improve brand recognition, new customer acquisition, and possibilities for cross-selling and upselling by providing incentives to existing customers.

What are B2B ecommerce ideas for business?  Here are some of the example of B2B product or B2B service that you can offer:

• Business guru or business coach
• Researching services 
• Writing services
• Content marketing or digital marketing
• Graphic design
• Social media consultant
• Bookkeeping services
• Event management and more

Future of B2B E-commerce

What is the future of B2B e-commerce? Will it stay longer on the Internet or will it fade away? 

The use of the Internet to facilitate commerce among companies promises vast benefits: dramatically reduced costs, greater access to buyers and sellers, improved marketplace liquidity, and a whole new array of efficient and flexible transaction methods‘

From the B2B ecommerce news on the Internet, in reality, B2B eCommerce is outperforming and will soon surpass B2C eCommerce in terms of growth. Over the next five years, the B2B eCommerce market in the United States will grow to $1.2 trillion, more than twice the size of the B2C market. With the right B2B marketing, you can achieve your goals and missions within a few years. 

Multiple Warehouses, One Ginee Malaysia!

Having different warehouses where you buy your products is a smart strategy. As you did not limit yourself to one warehouse with one price. Withmany choices of warehouse, you can pick which saves you the most.

With Ginee Malaysia, you can manage your warehouse inventory. It could help you to manage your warehouse’s details and you can add up to 100 warehouse locations on Ginee Malaysia website. Be smart and register to be part of Ginee-us for free!