There is a constant growth in the medical devices sector and the B2B e-commerce sector. By 2020 it is projected that B2B ecommerce is going to overtake B2C e-commerce. The main fuel behind the growth of the medical sector is an aging population. This is leading to a rise in the number of medical innovations. Medical companies have leveraged the rising popularity of eCommerce around the world in order to sell their products to other businesses. Companies that are forward thinking will see the trends of both these sectors bound to converge.
Benefits of B2B eCommerce
B2B eCommerce is a type of online transaction between two businesses. B2B eCommerce is better than a customer placing an order for medical supplies. The motivation to move online for businesses is to provide better services to their customers. The changes that have occurred in B2C have also impacted B2B.
Medical Companies are already in search of new Markets and New Customers. The best part about B2B eCommerce solutions is that medical device buyers are already searching for the device they want to buy online. A B2B eCommerce site is your 24/7 sales rep. It also allows businesses to sell products anywhere they are not located. In a sense, you could reach the furthest markets and customers in an instant. 76% percent of B2B customers are influenced by site information when making a purchase. Therefore without opening new offices you can reach new markets and customers. Ecommerce B2B allows you to serve global markets in their own language and currency. This can be done without the hefty investment of brick-and-mortar.
Brand awareness is another important aspect that can’t be overlooked. Brand awareness is important in content marketing and social media marketing. This can only be effectively done when eCommerce B2B is applied in selling medical devices and services. Through the optimization of products and pages to be indexed by search engines you have the ability to optimize your rank in search results and improve the chances of buyers visiting your B2B e-commerce website. Digital marketing makes it easy to identify and maximize the marketing ROI.
Customer experience is central to retaining customers in any business. In the medical business you will discover that return customers are a critical part of the business. Ecommerce stores are more than just websites to draw in new customers, they are also used as a tool to improve the customer experience for existing customers. At the comfort of their office buyers can view in real time their orders, track an order and place new orders. The best thing about B2B ecommerce is the fact that your customers have 24/7/365 access to your services through your website. This is the kind of self-service that medical buyers want.
There is no doubt that eCommerce businesses are more scalable than brick and mortar business. Having an ecommerce solution can be pivotal in growing your business and responding to new markets and customers. With an eCommerce presence businesses can support both omnichannel experience and B2B customer demands. Medical supply businesses with an eCommerce website report that their customers use mobile and computer device to access eCommerce sites.
Increasing operational efficiency is the best part of B2B eCommerce business. B2B e-commerce eliminates the need for extra manual labor. eCommerce shops ensure that customers input their orders online. The human error that usually occurs when a person is inputing an order manually is eliminated. Therefore a much smaller workforce is needed. It also frees up personal to actually conduct other tasks such as Customer services. To decrease order error you can integrate your eCommerce site with ERP. It also improves shipping, inventory process and it makes billing a lot easier.
Harnessing the incredible effectiveness of Data and Analytics may be a deal breaker in a medical business. Digitizing your business will make it easier to measure and evaluate certain aspects of your business. The most frequently evaluated aspects of an eCommerce business are marketing campaigns, customer services effectiveness, product mix, customer services effectiveness.
Selecting the right solution
In a survey done by independent distributors responded stated that the number one challenge to eCommerce was how much to spend and where to spend it. Choosing the right solution can be a difficult task for most people. Even if B2C taught people to buy products online it still doesn’t possess the necessary solutions for B2B. B2B eCommerce is much more complex than B2C ecommerce. Some of the most complex needs of B2B eCommerce are customized product catalogs, multiple approvals, and financing.
There are key features that you have to pay attention to. You need to look for solutions that are scalable and offer multi-access levels, the ability to add customer users. The platform should also include different users roles and permissions. In addition it must support different payment methods and checkout. Using an external gateway manager can be a great solution for your B2B ecommerce business. The solution should be user friendly and it should offer an easy way to order and reorder. One-page checkout can make the solution more user friendly. Data should be captured and be easily analyzed.
Sonia Bell, marketing consultant at Smart Pill Wiki says: “The best solutions in any B2B eCommerce should integrate. When choosing the right solutions you need to evaluate the B2B capabilities including the ability to integrate with existing ERP and other back-end systems. An effective solution has to have a high degree of flexibility. Yu will need a solution that is scalable in any kind of eCommerce business. In addition a solution that has strong technical support and a large partner network is great for eCommerce business.”
B2B eCommerce and Medical Companies
When tracing the development and growth of both the B2B eCommerce sector and the medical sector, there is a clear line of convergence. B2B eCommerce is going to become larger than B2C. Medical companies can take advantage of this and offer their products and technical support online. The right B2B eCommerce solution for medical companies has to possess aspects such as flexibility, and key features that attract buyers.
Why are medical companies perfect for b2b ecommerce?
- Brand Awareness
- Customer Experience
- Increase Scalability
- Operational Efficiency
- Measure and Manage
Topics: B2B eCommerce