An estimated $21 trillion will be spent on B2B e-commerce by 2027, according to a DHL Global report. Technological advancements and changes in buyer behavior brought about by the pandemic are driving this growth. A seamless buying experience, mobility, and responsiveness have become necessities across industries. Business-to-business and business-to-consumer e-commerce businesses must meet these necessities to remain competitive. Using Magento Enterprise can help B2B e-commerce create a powerful e-commerce site that becomes a competitive advantage.
Magento for B2B E-commerce Websites: 10 Unique Benefits
Listed below are ten reasons why Magento is the best platform for B2B e-commerce:
1. One Stop Shop
E-commerce Magento B2B integrates everything you need to run an online store – you can manage multiple brands through channel partners and key accounts, and offer multiple brands through channel partners. Your ERP or CRM solution can be quickly integrated with Magento B2B e-commerce. Manage credit, track quotes, and view detailed order histories online through the self-service facility. With a single platform, you can deliver a consistent brand experience to B2B and B2C customers across multiple brands and geographies.
2. Quick Order
Magento enables fast and convenient ordering and boosts sales with its vast purchasing options. For a fast checkout, buyers can either enter SKUs directly, use requisition lists, or copy a previous order. Orders can also be created for buyers, quotes can be tracked, and discounts can be calculated. Buyers who already know what they want can quickly place an order without having to browse – they can order the products they need without having to browse. Fast, frictionless ordering will accelerate the purchase process, facilitate rapid reorders, and drive recurring revenue.
3. Customer Segmentation
It might not be the best business strategy to provide a uniform buying experience to all buyers regardless of their size or industry. In most cases, one set of online buyers may not be interested in an online buying experience that appeals to another.
Using Magento B2B e-commerce, you can segment customers and tailor experiences to specific groups of businesses or individuals based on their browsing behavior or purchase history. Customers can be segmented based on their shopping cart items, the value of their products, or specific products viewed.
4. Credit Limit
E-commerce for B2B relies heavily on credit. By allowing buyers to use their credit balance at checkout, you can reinforce trust in your business relationships. Payment and purchase transactions can be stored with Magento, and credit limits can be allocated to credible buyers. During checkout, buyers can choose the “payment on account” option and make their payments as they go. Your ERP or CRM system can also be used to synchronize credit limits.
5. Smart Inventory Management
With Magento’s smart inventory management feature, you can manage orders effectively across all sales channels. You can optimize your delivery costs and times by being able to track inventory in real time across the supply chain. Distributors will be able to see how much inventory you have across multiple locations, which will lead to a better customer experience and an increase in sales.
6. Quotation System
A quote system that increases conversions and attracts more buyers is an important tool for B2B selling. Buyers can request quotes through the Magento quotation system, which is a fundamental part of B2B sales. Using a streamlined request, buyers can send quotation requests and price negotiations, add items to their shopping carts, initiate quote negotiations, and have their credit refunded once payment has been received. By managing quote requests efficiently, negotiating prices, and building your image as a trusted merchant, Magento helps you manage quotes efficiently.
7. Responsive Design
For a seamless shopping experience, B2B buyers also expect intuitive, mobile-optimized experiences. Magento B2B e-commerce allows you to build responsive and intuitively-designed e-commerce sites and allow buyers to place orders effortlessly from anywhere, anytime. By bringing new initiatives to market quickly, strengthening customer loyalty, and driving revenue growth, you can drive digital transformation.
8. Content Staging
Magento’s content staging feature can help you create dynamic product pages that automatically update based on predetermined schedules if you’re in an industry that sees highs and lows in sales and business. Edit content easily and create multiple versions of content for future updates by creating, previewing, and scheduling updates. The content is automatically reverted to its previous version once a period of time has expired following a content change. For products, categories, price rules, CMS pages or blocks, and widgets, you can schedule content staging.
9. Technical Support
Magento offers end-to-end maintenance services to keep your website running smoothly. Get quick solutions to any Magento problems: server overload, shopping cart issues, error messages, general troubleshooting, or product integration issues. You can focus on driving sales while the highly skilled team keeps your website up and running around-the-clock. Keep your Magento B2B e-commerce website up-to-date with the latest updates, security features, and extensions.
10. Rule-Based Product Relations
You can standardize targeted merchandising on a subset of products with Magento’s product relationship rules. Several permanent rules can be created or they can be applied for a specific time period. In addition, you can decide which products will be displayed as related products, up-sells, and cross-sells based on your rules.
What is the best choice for my business when it comes to Magento Commerce?
Some might argue that Adobe Magento Commerce isn’t profitable enough for B2B since it was originally developed for B2C. That’s not the case, however!
Since the release of a separate software package in 2016, Adobe Magento has evolved into a popular B2B eCommerce platform. B2B businesses can benefit greatly from Adobe Magento 2.3’s many advantages and core capabilities.
Native B2B functionality
With Adobe Magento Commerce, B2B customers get customer-centric catalogs, customized price lists, and content and promotions tailored to them.
With its self-service B2B tools, you can manage company accounts, buyer roles, permissions, workflow approvals, client credits, order and quote tracking, and account history.
In conclusion, Adobe Magento Commerce streamlines purchasing experiences with fast reordering, assisted selling, quote workflow, requisition lists, and order by SKU/CSV uploads.
Create a powerful and efficient buying experience
Creating resilient and effortless buying experiences is Adobe Magento Commerce’s best feature. It creates engaging and functional websites with its page builder CMS, headless commerce, segmentation, and targeting.
Aside from Adobe Magento-powered intelligent searches, layered navigation and filtering, and AI-driven product recommendations, users can discover products through Adobe Magento.
Adobe Magento’s drag-and-drop merchandising, automated sorting rules, promotions & coupons, rich product pages, and product availability information allow you to boost conversion ratios.
Manage client-based catalogs with a wide range of products
On a single dashboard, you can manage 1 million+ products and thousands of categories with Adobe Magento Commerce. Moreover, you can create new segments and customers according to your preferences. It is possible to integrate third-party PIM platforms, such as Akeneq, InRiver, and Jasper, with the Adobe Magento platform.
Reach your customers anywhere and everywhere
With Adobe Magento, you can reach customers around the world with mobile-responsive designs and email templates. EProcurement systems and marketing automation can be used to sell on several channels, such as Amazon. Further, you can communicate with your customers using real-time online chat, providing them with the information they need.
Fulfill orders from anywhere and optimize fulfillment across all channels
You can use Adobe Magento Commerce to:
- A centrally managed inventory system that allows you to manage and allocate your global inventory
- Through intelligent sourcing, orders can be processed across channels
- We provide omnichannel fulfillment with options for pick-up in stores, ship-to-ship, and ship-from-store
Enforce new business models
Using subscriptions, digital goods, marketplaces, and virtual goods, Adobe Magento Commerce boosts your revenue funnels.
Fuel business growth with actionable insights
Its powerful report-building and visualization tools enable Adobe Magento to enable data analytics. They can be integrated with multiple data sources, delve deeper, generate actionable insights, and allow access to data across teams. To make designing your files seamless and smooth, use the pre-built custom reports.
Scalable and secure Adobe Magento cloud commerce for future-proof operations
Embrace Adobe Magento cloud commerce solutions and prepare your business for the future with faster time to market services, higher performance, and optimized IT costs. In this way, you can grow your business according to your growing needs and demands and row safely into the eCommerce market.
Connect with ease to any 3rd party system such as Salesforce, Oracle, Manhattan, Informatica, InRiver, etc., using Marketplace extensions.
You will find everything you need for an online store in Adobe Magento Commerce. Managing multiple brands’ accounts through channel partners is seamless and seamless. Additionally, you can integrate your ERP and CRM solution with your Adobe Magento Commerce store online quickly.
Using their self-service facility, B2B brands can track quotes, view detailed order histories, manage multiple clients, and manage credit online. By offering your B2B customers a consistent experience across multiple brands and geographies through a single platform, such prospects can boost your business’s efficiency.
Today, the manufacturing industry is in a difficult position. The old way of doing things is either the right way to go or the wrong way to go. Alternatively, you can take matters into your own hands, adopt a digital model, and accelerate your digitization across markets. You make the decision!
Because of the current B2B eCommerce climate and the anticipated future growth, B2B manufacturers need to build stronger relationships with their targeted buyers. Using customer data, you can understand their evolving preferences and develop products based on those insights.
As well as ensuring higher profits, this plan also makes your business future-proof. Our Magento development services are specifically designed to help you create a robust and feature-rich online eCommerce store that drives conversions and boosts sales and revenues.