Not more than five years back, the eCommerce landscape was only enjoyed by big companies like Flipkart, Amazon, etc. However, today the time has changed and e-commerce has evolved. The ecommerce landscape is now accessed by a series of small enterprises as well. The pandemic has only enhanced the utilization of online experiences.
Customers want to purchase online and sellers are finding a medium to reach out to customers through the internet. As a result, eCommerce is not optional, it is the need of the hour.
Are you trying to streamline your e-commerce experiences? If so, read on to understand how Liferay B2B e-commerce is designed to help you!
Understanding B2B E-Commerce Platform
A B2B e-commerce platform for wholesalers, manufacturers, distributors, and different B2B organizations is an optimum software solution. Through this platform, these businesses can sell products online to various B2B customers. It also ensures the management of inventory efficiency and payments.
One of the reasons why B2B eCommerce platforms are gaining popularity is because user preferences are changing as we speak. Even B2B buyers are B2C buyers somewhere. Hence, on a personal level, every B2B buyer expects seamless supply chains and accelerated customer query resolution.
We are used to the comfort and convenience of online shopping. Why not use the same in B2B commerce?
Features You Need in B2B E-Commerce
Do you wish to implement a B2B eCommerce solution designed to leverage the benefits of the online world?
Here are some features you should get in a solution like Liferay B2B eCommerce.
Catalog Configurations
Paper catalogs immediately portray an image of difficult operations. It is difficult and costly to design and transport.
Similarly, PDFs are a great tool, but not in B2B commerce. These are hard to manage and search for.
In a true B2B solution, you get a choice to create innovative and interactive catalogs, accessed and managed digitally. These catalogs can be created with certain permissions, such as user login, user access, etc.
Buying Workflows
When your organizational hierarchy is complex, customer purchase is haywire. One way to streamline this is using customized workflows that match customer purchase history and business needs. These processes and workflows should be automated to ensure a smooth product purchase lifecycle.
Self-Service Features
Don’t we have the power to shop from any B2C eCommerce website according to our timing and requirements?
B2B customers also require this flexibility. They should be able to purchase anytime without worrying about the representative who is not picking up the call. You can empower your buyers to handle their accounts via self-service, including order management, account details, reordering, and shipment tracking.
Pricing and Discounts
Unlike B2C, B2B pricing models are complex. There’s a distinction based on the account type, country, region, and other factors. To add to this, we also have subscription products and goods that we need to price differently.
Hence, to manage these configurations, a B2B platform offers pricing control features. Based on internal structures and subscriptions, you can control the pricing models.
You can also use discounts and common promotions on bulk orders. Overall, depending on your customer base, you can vary pricing models, validation rules, etc.
How We Can Eliminate B2B E-Commerce Complexities?
Similar to any other industry, B2B eCommerce also has a series of challenges. There are traditional barriers and geographical boundaries, but also unlimited opportunities and growth options.
Let’s understand complexities in B2B eCommerce first:
1. Straightforward Purchasing
As already discussed, B2B eCommerce buyers require an experience like B2C. In fact, most of the B2B buyers want to make direct purchases from the vendor along with reordering capabilities. They need self-service capabilities to access accounts, order, pay online, and enjoy a B2C type experience.
Here, we need software that allows account and process management, adding to the work of a sales representative and ensuring secure and timely payments. This software should also address common B2B complexities, such as online payments, bulk order management, schedule management, etc.
2. Optimized Product Management
B2B commerce businesses have complicated catalogs and difficult processes. They need an advanced search tool to help customers easily find products. Further, we also require advanced inventory efficiency tools to allow accurate information in the supply chain. For bulk orders, we especially need accurate numbers, details of in-stock items, and other data.
Fortunately, technology can help manage inventory, orders, and backorders. Every complicated backorder can be streamlined, but only with a state-of-art B2B eCommerce technology like Liferay.
3. Flexible And Personalized Configurations
There’s no doubt in the fact that B2B commerce is complex when we talk about configurable pricing options, workflows, and authorization roles. From pricing to delivery, we need a platform to not only accommodate these B2B purchase bundles but also ensure personalized experiences across categories and consumer groups.
What Is The Future Of B2B E-Commerce?
As a B2B commerce business, technology is the single element that can help capitalize on growth opportunities. This is why we need to understand how B2B eCommerce technology can help mitigate challenges, tailor user experiences, and ensure a smooth supply chain – improving efficiency and return on investment.
Only then we would be able to convert our users into loyal customers and attract new leads in this growing market.
1. Catering To New Online Buyers
Did you know that the US has a huge marketplace for B2B eCommerce but still its online sales are 20% or less?
However, right now, the situation is different and this number is improving. The pandemic has invited more B2B buyers into this landscape, and there’s no going back. Hence, we need a robust Liferay B2B e-commerce platform to cater to new user demands.
2. Adapting To Rapidly Shifting Buyer Expectations
The older generation has always been resistant to technological changes and digital experiences. But, millennials have been extremely adaptive to this change. Therefore, as millennials enter the workforce and make it to the top roles or senior positions, they would want to change our current B2B commerce situations.
They may want online experiences, authentic online purchases, and seamless information flow. We can’t rely on information delivery and in-company models of the current market. We need to expand and create an omnichannel experience for every B2B buyer.
3. Increased Emphasis On Digital Experiences
It is time for B2B organizations to start understanding buyers. They need to take feedback seriously to offer better B2B eCommerce experiences. For us to intertwine our marketing, CRM, sales, and IT operations with the eCommerce world, we need to start focusing on efficient and smooth digital experiences.
Liferay’s B2B Commerce Solution: Why Do We Need It?
Liferay’s B2B eCommerce solution is an innovative and powerful platform because of DXP’s ability to blend commerce, content, portals, and the entire B2B journey. With this, we can intertwine sales, marketing, and IT teams, encouraging seamless collaboration and state-of-art customer service.
1. Improved Customer Satisfaction Via Marketing
Liferay B2B eCommerce has so many tools that your marketing team can exploit to present content-rich, user-friendly catalogs to users, along with an immersive buyer experience. Marketers can also use advanced analytics that allows the delivery of highly personalized and targeted content to respective buyers and prospects.
2. High-Value Interactions On-Demand Via Sales
We already know that complex catalogs of B2B commerce organizations can confuse buyers. Hence, Liferay B2B eCommerce has in-built sales tools that allow your sales team to take action in place of the user as directed by the user only.
Further, advanced insights allow sales teams to consult and guide B2B buyers towards the right and optimum decision.
3. Lower Maintenance And Increased Value Creation Via IT
Generally, the IT team is packed with requests from marketing and sales teams. However, Liferay B2B commerce reduces resources and time spent on this activity, and your IT resources can focus on optimization, network security, and feature development.
The Future of B2B E-Commerce
The impact of the pandemic and other recent events have disrupted the B2B eCommerce market. We are experiencing a shift to B2B eCommerce, and these changes are here to stay. The only difference we can make in our strategy is to ensure a smooth buyer experience – to gain a competitive edge. Check how Liferay B2B eCommerce can streamline online purchases and customization techniques of your B2B commerce.
If you require help implementing and managing Liferay’s B2B eCommerce platform, AIMDek Technologies offers to consult support to a range of organizations in this industry. Our experience along with support from the expert team helps us ensure supply chain efficiency and smooth customer experiences in your organization. Connect with our team now!
