Forrester predicts that by 2021, the US B2B e-commerce market will hit $1.2 trillion! As mobility, responsiveness, and a seamless purchasing experience become a necessity across industries; the B2B sector is looking to revamp business models in order to keep pace with technological advances. Therefore, let’s discover some essential elements of a Magento B2B website with us in this article!
Multiple Brands, Channel Partners, and Key Accounts
Any e-commerce platform, whether B2B or B2C, needs to be self-sufficient to succeed. With Magento B2B e-commerce, you can offer a consistent brand experience to all your buyers across multiple brands and geographies. Set up multiple tiers of buyers with specific roles and permissions. Thus, buyers can easily manage their accounts and order histories.
Customizable Catalogs, and Prices
Offering a customized e-commerce experience to buyers based on their size, industry, location, order volume or order frequency will surely go a long way. According to Gartner, 2018 will see around 40% of B2B commerce sites using price optimization algorithms to deliver dynamic pricing. Magento B2B e-commerce allows you to tailor experiences and set custom price lists to specific groups of companies or individuals. So you can offer a uniform discount to a group of buyers; or offer a customized price for items purchased by specific buyers. You can also allow buyers to make purchases using their credit balance; boost relationships and sales.
Comprehensive Inventory Management Features
Every B2B e-commerce website has a very complex inventory system that needs to be efficiently managed. Magento B2B e-commerce offers comprehensive inventory management features. So it lets you improve your operations and efficiently manage orders from all sales channels. Thanks to real-time inventory information across the supply chain, you can optimize your delivery costs and times and deliver a delightful e-commerce experience.
Request for Quote
Being able to improve buyer relations is vital for most B2B organizations today. One way you can achieve this is by curating catalogs and prices that meet the needs of specific groups of buyers or individuals. Magento’s request for quote feature helps attract more buyers and increases sales conversion. Thus, by letting buyers request a quote, they can avail the best possible pricing on products. This two-way communication enables you to build your image as a trusted brand. Moreover, it also helps you enjoy higher conversion rates.
Detailed Search Capabilities
Being able to search for a product as quick as possible is a necessity for both commercial shoppers at physical stores and B2B buyers. Magento’s intelligent and intuitive search capabilities make it easy for buyers. It helps them to find their way through and search for the products they need; by filtering down to item, category, brand, or SKU level. The built-in recommendation engine delivers highly relevant content based on previous browsing behavior or assigned customer group and greatly helps in conversions.
Above are some essential elements of a Magento b2b website. Looking for a tool that involves some of these elements ? Check out Grit Global. A Magento b2b website that gives you multiple channels, flexibility in creating customizing catalogs, prices as well as Comprehensive Inventory Management Features. Thus, you will not have to worry and do tasks on your own with this genius invention. Let this be a part of your journey ahead.