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Home / Insights / Blog / 8 Key Components of a Powerful Magento Based B2B E-Commerce Site
March 7, 2022 - by Seema Nair
According to a recent study by DHL Global, B2B e-commerce will grow from $12.2 trillion in 2019 to approximately $21 trillion in 2027. This growth is propelled by the ongoing changes in the technological and buyer behavior brought about by the pandemic. Mobility, responsiveness, and a seamless purchasing experience have become a necessity across industries. E-commerce businesses, B2B as well as B2C, must cater to these necessities to hold their competitive positions in the market. Let’s look at how B2B e-commerce can leverage Magento Enterprise to create a powerful e-commerce site that becomes their competitive edge.
B2B buyers want to make organizational purchases as they purchase their personal products. A platform like Magento can help companies personalize user experience and offer features that can be leveraged to meet the distinct needs of the business. Let’s look at eight key features that a B2B site can have if it’s built using Magento.
Being able to search for a product in the shortest possible time quickly is a key necessity. Magento’s intelligent and intuitive search capabilities make it easy for buyers to find their way through and search for the products they need by filtering down to an item, category, brand, or SKU level. The built-in recommendation delivers relevant content based on previous browsing behavior or assigned customer group and helps increase conversions.
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 your buyers across multiple brands and geographies. Set up multiple tiers of buyers with specific roles and permissions and enable buyers to manage their accounts and view detailed order histories effortlessly.
Offering a customized e-commerce experience to buyers based on their size, industry, location, order volume, or order frequency go a long way. Magento B2B e-commerce allows companies to tailor experiences and set custom price lists to specific groups of buyers.
Organizations lose significant business because of an inefficient e-commerce purchasing process. Magento B2B e-commerce offers an intuitive user interface for a seamless shopping experience. Using features such as quick access to information, intuitive search, intelligent-validation, request-for-quote, and single page checkout, buyers can easily place orders from any device at any time. A comfortable purchase journey makes it easier for buyers to do business with you, reduces abandoned shopping carts, and helps strengthen loyalty.
Every B2B e-commerce website has a very complex inventory system that needs to be managed efficiently. Magento B2B e-commerce offers comprehensive inventory management features that help improve operations and efficiently manage orders from multiple sales channels. With real-time inventory information across the supply chain, it is easier to optimize delivery costs and times and deliver a delightful e-commerce experience.
Improving buyer relations is vital for most B2B organizations today. Businesses can achieve this by curating catalogs and prices that meet the needs of specific groups of buyers or individuals. Magento’s request for a quote feature helps attract more buyers and increases sales conversion. By letting buyers request a quote, they can avail the best possible pricing on products.
Integrating Magento B2B e-commerce platform with the existing ERP or CRM system is essential to knock down information silos. By connecting the ERP and e-commerce systems, businesses can link critical data related to orders, inventory, invoices, customers, shipping, and tracking.
According to a Digital Examiner report, 80% of B2B customers use mobile devices during their purchasing process. So, a smooth, omnichannel e-commerce experience is a must-have in today’s highly mobile world. With Magento B2B e-commerce, you can optimize mobile experiences and empower your buyers to place orders on any device, at any time.
B2B is witnessing a significant upward trend towards digitalization. With more businesses moving their operations to B2B e-commerce, a platform like Magento is perfect to meet the growing demands of the industry. Using Magento B2B e-commerce, you can customize catalogs and prices for specific groups of customers, enable negotiations for products, offer intuitive search options, leverage the comprehensive inventory management features, and easily integrate your e-commerce website with your existing ERP or CRM system and equip yourself for success.
Learn more about Magento Enterprise’s extensive capabilities for creating and running successful B2B e-commerce sites.
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