The world is online in 2023 and ecommerce is leading the charge, and not only in the B2C domain. In the B2B landscape, buyers are preferring to interact with businesses online because it’s faster and doesn’t involve liaising with third-party companies, but what are the benefits for manufacturers?
Improved Visibility
Manufacturers need to have a clear picture of what stock they have in the warehouse, as it allows them to upsell according to real-time stock levels. Fortunately, businesses that use an ecommerce platform can integrate it with ERP (enterprise resource planning) software, which accurately monitors inventory levels. Combining these two systems means that B2B buyers will never purchase out-of-stock products.
Easily Access New Markets
According to a 2021 Gartner survey, 83% of B2B buyers prefer using ecommerce platforms to pay and order. If a manufacturer does not have an ecommerce platform, they are segregating an enormous market of B2B buyers that likely won’t engage with their services, which is why an ecommerce platform is essential in 2023.
With an ecommerce platform in their repertoire, manufacturers can easily expand their customer base globally, and it does not need to involve building and managing several websites. Instead, B2B manufacturers can use an ecommerce multi store platform, which consolidates any number of storefronts into one hub for customers. For example, customers accessing the ecommerce website in America would see a different store to those in Japan, but it’s the same platform on the backend.
Easier for Buyers to Customize Products
As well as simplifying internal operations, ecommerce platforms simplify the customer experience, which is what business is all about. When buyers access an ecommerce site, they’re able to view all the products and can make customizations where applicable. Giving buyers the power to customize relieves the sales team, which can focus on more pressing matters including:
- Supporting high-risk buyers
- Generating leads
- Building a positive rapport with current buyers
Catalog Personalization
Alongside product customization, an ecommerce platform has the power to personalize each visit. For example, when a buyer searches for a product and it’s stored in their history, the ecommerce will display similar products and information on their next visit. This is a similar concept to watching Netflix, where your home screen is tailored toward your viewing habits, which helps to keep you on the platform.
Boosting Time to Market
Speeding up time to market is important for manufacturers, and an ecommerce platform can speed the process up. For example, you will have access to a range of market data, which can be used to inform product development. With the correct technology on your side, your operation will become central, which is much more efficient than siloed processes.
Now that you have seen the clear benefits of ecommerce platforms laid out in front of you, it is time to begin putting a strategy together. During this process, you’ll find that ecommerce allows you to easily navigate global issues including remaining Covid-19 restrictions and Brexit.
