Why do spare parts businesses need a B2B eCommerce platform?
May 2, 2022
With the onset of digitalization and eCommerce rising rapidly, spare parts businesses are vying toward B2B eCommerce platforms as it boosts transparency of transacting with businesses with ease.
Most B2B entrepreneurs are aware of digital transformation and aim to stay updated with the current shopper trends. However, as B2B entrepreneurs are gradually adapting to online users' shopping tendencies and expectations, suppliers reaping the benefits of this opportunity are still limited to a minor segment.
Whether you've just started with or haven't even thought of B2B eCommerce as a solid wholesale medium yet, here are reasons why you must be a part of this new age of marketing.
Eight reasons why your spare parts businesses need a B2B eCommerce platform
Here are eight solid reasons why your spare parts business needs an intuitive B2B eCommerce platform:
1. Potential to reach customers anywhere and at any time
A B2B eCommerce website with public catalogue pages is an efficient tool to reach new potential B2B customers.
As B2B buyers turn towards online shopping to compare different products and get the best prices, manufacturers and distributors can make use of search engines to understand and connect with buyers.
You can locate new visitors and convert them into customers by developing a responsive B2B eCommerce website with SEO-friendly content.
With B2B eCommerce witnessing an upsurge, it gives more access to a large scale of B2B buyers who can be targeted on a global scale anywhere and at any time. B2B eCommerce also provides access to new demographics, product catalogues, divisions, stores, etc. This promotes B2B selling much more accessible than ever before.
2. Track Order Fulfilment with Cloud-Based eCommerce Systems
Cloud-dependent eCommerce platforms have built-in order management systems. Modern OMS ( order management systems ) deal with their supply chain as an interconnected ecosystem that gives suppliers the space to automate their internal processes, from placing an order to reaching customer satisfaction.
Order management systems can effortlessly integrate with other digital catalogue software that minimises order placement faults and enhances inventory tracking. This, eventually, improves your relationship with the customer by providing timely service and order delivery. In addition, this gives B2B sellers the ability to promise fast, accurate, and transparent delivery to the B2B customers.
3. Analytics for better insights
B2B eCommerce provides an apt platform for companies to launch complete analytics campaigns.
Companies can estimate and evaluate marketing campaigns, sales effectiveness, product mix, inventory turns, customer sales effectiveness, and customer engagement through B2B eCommerce.
And yes! Google Analytics provides eCommerce tracking, but integrating analytics with your ERP gives you much more valuable insights.
4. Allows you to offer a customer-centric approach
While retail shoppers and B2B buyers have their differences in shopping experiences, B2B companies still need to make sure that they employ intuitive design, rich content, and interactive functionality in their websites in product recommendations and trends based on previous searches and account settings, and wishlists. You can even configure your catalogue to create customer groups and offer different prices specific to each group.
5. Helps to retain repeat customers
Drawing in new customers and maintaining existing ones by keeping them engaged and satisfied is a motto that every spare parts business thrives on living by. Also, it is equally essential to preserve optimum revenue from brand new and repeat customers to maintain a steady growth of spare parts business and attain the necessary sales goals.
Creating and maintaining a customer profile dependent on CLV ( Customer Lifetime Value ) and Net Promoter Score (NPV) can help with keeping track of customers. Track repeat purchase orders and ongoing customer activity. This will allow you to analyse customers' requirements and areas of problem. Once you begin addressing them, the churn rate decreases, and the sales start to go up. Thus, generating higher revenue. And you increase the odds of your business becoming their most preferred supplier.
With the higher rate of repeat customers, spare parts businesses can begin to explore the option of giving out a subscription-like service. An eCommerce platform allows them to order and re-order the products and services instantly without the additional step of contacting a representative. This cuts downtime for you as well as your customers.
6. Opportunity to compete in international markets
Modern-day technology such as Artificial intelligence chatbots ensures the 24/7 presence of digital sales channels in B2B. Such availability makes sure to eliminate time zone differences. In addition, it allows a company to sell its products and services in almost any country and region of the world, significantly scaling and expanding the business's target customers.
7. Enhanced brand awareness for your business
B2B eCommerce platforms establish your spare parts business with an online presence, therefore giving you control over your brand. These platforms allow you to promote, grow and strengthen your brand both locally and internationally.
Although other external B2B market channels may generate additional brand awareness benefits, your branded eCommerce website is the primary marketing tool for a sustained online presence and visibility.
Developing SEO-friendly content for your eCommerce site is a fast way to improve your site's search engine ranking and improve the likelihood that your target audience will know who you are.
8. Your spare parts business gets more productive
Through integration to the "ERP" and other back-end business systems, eCommerce platforms provide significant productivity for B2B organisations.
In addition, since customers have the leeway to order online at their convenience, spare parts businesses can focus more on customer service functionalities than just taking orders.
Also, automated workflows eliminate the need to reshape data in independent systems, thereby limiting the probability of errors. Automation also further improves the efficiency of the process of shipping.
B2B eCommerce is a powerful strategy to capture your target audiences. The B2B buyers are shifting more towards the internet than ever before, and this is an opportunity for spare parts businesses to undergo digital transformation and capture the online market. In addition, embracing eCommerce for your business will help establish your brand's digital presence. Good luck!
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