The growth of the B2B industry over the last few years has been exciting. People are beginning to see the perks of playing in the B2B market, and they’re diving into it.
According to Tradeling, 82% of executives in the United Arab Emirates expect to use B2B eCommerce in the future. If you haven’t already carved a space out for yourself, it’s time to get ahead of the trend. In other words, you should have an eCommerce website.
Here, we’ll discuss the top benefits of owning a B2B eCommerce website for your brand:
1. Reach Customers Faster and With More Ease
With 30.3 million internet users in Saudi Arabia alone, it’s clear a lot of your potential customers will be looking to make purchases online. If you don’t have a web presence, they’re going to look elsewhere. But this isn’t the only advantage.
As well as being easy to find, you no longer have to worry about physical consultations with prospective clients. With the click of a few buttons, they can reach you and set up an online consultation. Your B2B eCommerce website can answer the questions clients have about doing business with your brand. On your part, you can make it easier for customers to find your eCommerce website through display ads, social media, and other digital avenues.
2. Improve Efficiency
Having a B2B eCommerce website helps to increase the efficiency and productivity of your business. You don’t need to have customers come into a brick-and-mortar shop to complete transactions with them. Instead, customers can conveniently order online whenever and wherever they want to make a purchase. These orders can be fulfilled automatically with order management software – and with companies like Saudi Digital Payments Company signing partnership deals, it’s easier to offer varied payment options to your customers.
3. Increase Sales
Efficiency and productivity tend to be directly proportional to conversion/sales. In other words, the more efficient your B2B business is, the higher your sales will be. This is why an eCommerce website offers several opportunities to upsell your brand.
For instance, just having the right content in your blog can bring new customers and increase sales. The numbers show content marketing efforts generate at least three times more leads than traditional marketing.
Not only that, eCommerce websites afford customers self-service capabilities from the comfort of their homes. Customers can order and reorder as much as they like without moving an inch and manage things like business invoices and past orders with the click of a button.
4. Enhance Analytics for Business Insights
Another aspect eCommerce websites can help with is tracking KPIs. By integrating your eCommerce website with analytics systems, you can see a comprehensive breakdown of your business sales. This can provide you with insights into which aspect of your business is doing well and the places you need to improve.
Some of key metrics to keep an eye on include:
- Monthly recurring revenue
- Bounce rate
- Number of sessions per user
- Session duration
- Organic traffic
- Average order rate
- Customer retention rates
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5. Improve Customer Service and Relationships
A key part of developing a B2B eCommerce website is optimization. Web optimization involves restructuring various website elements to satisfy both search engine bots and prospective customers. You can improve customer experience by making your website faster, easier to navigate, and loading it with relevant content.
While a call center IVR is one way to attend to your customers, your website can be another way to deal with customer complaints or queries. Customers can easily leave feedback regarding your product on your eCommerce website, and you can use the feedback to improve your processes and customer relationships.
6. Personalization Options
Ecommerce websites also enable B2B businesses to improve their customer experience initiatives. One key way to do this is through personalization. By having an ecommerce website and the right analytics software, you can improve the shopping experience for both new and returning customers.
For instance, you can suggest products for returning customers by using their order history and tracking information. Also, by integrating it with an omnichannel contact solution, customers won’t have to start from scratch when they use your direct inward dialing number. Instead, your team will be able to see their previous orders, any communication you’ve had previously, and personal preferences. This is a great way of maintaining that personal sales connection via the online world.
7. Increase Customer Retention and Scalability
Customer retention is what you get when you combine a customer-centric system with top-notch customer service. An eCommerce website enables you to set up your business to please every one of your customers. The more you’re able to satisfy your customers, the better your chances of retaining them.
It doesn’t end there; an effective eCommerce website will expose your business to new channels. With proper SEO optimization, your business will continuously find its way to new market segments through organic search results.
8. Explore New Products
An eCommerce website may also be what you need to push out a new product mix. It’s easier to offer various products in a digital space, as you’re not reliant on having room in a physical storefront. This is even easier for brands that sell digital products, as there are no warehouse costs either.
You can also accurately see how your new products are doing – do they have a high cart abandonment rate? Are people clicking through but then bouncing away? Or are these new products catching their eye and converting to sales? With metrics like this easily available, you’ll be able to tell whether your audience approves of the new product mix.
9. Improve Brand Identity
Having an eCommerce website bolsters your online presence and strengthens your brand identity. It puts your brand out there, making it easier for other businesses and customers to recognize it. That said, you want to pay attention to your website security. As your popularity increases, people will try to gain unauthorized access to it, so take the right precautions before it becomes a problem.
If you haven’t got a website already, you’re missing out. But don’t worry, it’s not too late! Spend some time finding the best B2B eCommerce platform and enjoy the full perks of entrepreneurship today. While you could make the whole thing from scratch, there are so many options out there to help you get set-up that you can create a whole online presence in no time.
-Grace Lau is the Director of Growth Content at Dialpad, an AI-powered cloud PBX phone system for better and easier team collaboration. She has over 10 years of experience in content writing and strategy. Currently, she is responsible for leading branded and editorial content strategies, partnering with SEO and Ops teams to build and nurture content. Here is her LinkedIn