As we all know, resellers or B2B wholesalers buy products from distributors/suppliers and resell them at a higher price to consumers.
As a reseller, you can price your products the way you want and make your business more profitable. However, reseller business is highly competitive and earning good revenue is not as easy as it seems.
Margins are pretty low, making it difficult to sustain business.
Having a strong base of loyal customers is your biggest asset to sustain your business. So if you have invested in B2B eCommerce, keeping your customers happy is critical for sustainable business growth.
Think about what all can be done to make their shopping experience enjoyable and convenient. Adopt a customer-centric approach that focuses on ways to add more value to your B2B customers.
If you can solve their biggest pain points, it can help to build trust and strengthen B2B relationships.
Here’s what you can do to sustain your B2B eCommerce business:
Simplify your B2B eCommerce Store
When there are complexities in your checkout process or payment transactions, you will have a tough time sustaining your B2B eCommerce business. The harder and more complex you design your online store, fewer sales you will make.
It doesn’t matter how many attractive features your eCommerce platform is offering. If your B2B buyers have difficulty navigating through your website, your online business will definitely suffer.
So it is important that you simplify the shopping experience of your B2B customers. Make the web pages clutter-free, streamline the checkout process and optimize your payment process for sustainable B2B business growth.
Offer a Personalized Experience
According to one study, 59% of B2B customers say that personalization influences their shopping decision.
So it is critical that you offer a customized B2B user to sustain your eCommerce business. B2B customers expect the same level of personalization that they receive from B2C eCommerce sites.
B2B customers are companies who often purchase in bulk. Hence, one lost sale can have an adverse impact on your overall business revenue. So make sure you adopt a customer-centric mindset when dealing with B2B customers.
Offer a customized B2B user experience by displaying customer specific catalog and pricing. Every B2B buyer will have his own unique set of requirements.
You will be selling different products at different prices based on the contract you have in place with the buyer. This ability to setup customer specific catalog and product pricing is an important feature of B2B eCommerce platform.
This customized product catalog and pricing will be accessible through unique login credentials given to the buyer. Also, access to payment and shipping methods should be based on logins.
You can also personalize their shopping experience by displaying up-sell and cross-sell recommendations based on their past purchases.
B2B customers often place the same order on a regular basis. In such a case, the buyer should not be required to reconstruct that order from scratch.
You need to simplify their reordering process by allowing them to access their order history. Offer a functionality to recreate past orders with a single click.
Many times, B2B indulge in bulk buying. Help your buyers order faster by implementing the bulk order functionality into your online store. Some of the top B2B eCommerce sites display the bulk order form which enables buyers to quickly add multiple quantities of a product to the cart.
In order to encourage buyers to place large orders, your B2B eCommerce site should have a volume discount feature.
This is an effective sales strategy that can help to boost sales. With this feature, you have the option to reduce the price of a product depending upon the quantity ordered.
B2B customers commonly setup approval workflows in their organization for purchasing products. Unlike B2C, B2B customers do not buy on the spot. Every order placed on a B2B online store passes through multiple approvers before finally getting accepted.
So make sure your eCommerce platform comes with an approval workflow feature that allows them to define a workflow tailored to their requirements.
Offer Quoting Capabilities
Many times, B2B customers who indulge in bulk buying, do not wish to make a purchase then and there. Unlike B2C, B2B customers usually do not buy on the spot.
For large orders, price considerations are generally important. So they might want to negotiate product prices so as to meet their budget constraints. In such circumstances, you need to offer request for quote (RFQ) functionality, which will enable your customers to request a quote for specific products through your eCommerce site.
RFQ functionality gives you an excellent opportunity to build potential orders that are crucial to sustain your B2B business.
Ability to Configure Products
B2B customers often have specific configuration in mind, when purchasing a product. One-size-fits-all products displayed on your online store doesn’t meet their business requirements.
They prefer to build their own custom solution. In such circumstances, you run the risk of losing sale.
If you don’t want to lose business, it is time to integrate a product configurator into your website.
A configurator will enable your B2B customers to create a customized product on your website as per their needs.
A study conducted by Aberdeen Group observed that configurators offer B2B resellers a range of benefits, including boosting conversions. Configurators give your B2B buyers access to a wide range of components so that they can create the right solution.
Go Beyond Traditional Payment Options
Payment options matter a lot to B2B online shoppers. It is time you go beyond the conventional credit card option.
Your B2B customers should be able to purchase from your site using their preferred payment methods. This is critical to sustain and grow your B2B eCommerce business. Many B2B customers might prefer to use digital wallets to make online purchases.
So make sure your eCommerce platform supports a range of digital payment options that includes Android Pay and Apple Pay. You should also allow your customers to make payments through company check and company PO.
Many B2B eCommerce store owners offer net 15, net 30 and net 60 payment terms to their customers. This payment option allows the buyer to make payments within15, 30 or 60 days after the invoice is received. You can set this payment method for B2B buyers who do not wish to pay immediately after purchase and can make this an easy automated option through a solution like Apruve.
On the whole, when you want to sustain your B2B eCommerce business, customers cannot be overlooked. Keeping them happy and engaged is the key to your success. So ensure that your B2B eCommerce platform has all features that enable you to provide the best customer experience.
How to be a successful reseller through eCommerce:
- Simplify your B2B eCommerce Store
- Offer a Personalized Experience
- Bulk Order
- Volume Discounts
- Approval Workflow
- Offer Quoting Capabilities
- Ability to Configure Products
- Go Beyond Traditional Payment Options
Shane is an American writer for various digital news publications. After being in the eCommerce industry for more than 15 years, Shane has a good understanding of what it takes to make an eCommerce business successful. His articles give insights on the latest trends in the B2C and B2B eCommerce industry. His eCommerce coverage is robust and provides everything from best eCommerce platform to improving your website site. He also likes to cover newsworthy events related to business management software, customer relationship management (CRM) and Quoting software.