If you are thinking of starting a new business, or you already run an established one, and you haven’t at least considered the possibility of B2B eCommerce as opposed to simply selling to the general public, then you should at least give it some thought.
Why? Here are some compelling reasons for doing so:
It’s a Growing Market
B2b eCommerce is a growing market. In fact, it is currently double the size of business to customer market, and it is set to be worth around $1.8 trillion in just two years’ time. More and more, companies are seeing the benefits of buying the products and services they need to run their operations online rather than from a sales rep, as was tradition, and if you get in on the ground floor with a B2B business of your own, that could be very good news for you.
Access Big Business
Another big benefit of selling B2B, which companies like Saniclean Strainers, who sell write cloth strainers to sanitation companies has already discovered, is the fact that you get access to much bigger businesses with big budgets who are reliant on the small parts and components that you sell. If you choose your niche wisely, these big businesses are unlikely to go out of business any time soon, which means if you can get your products and service in front of them and offer them a great price, you’re all but guaranteed a lot of ongoing, and potentially lucrative, business.
Boost Efficiency
The great thing about B2B eCommerce is not only that your business can be run online, but also that your business customers will come to you online for what they need too. That, combined with the fact that business customers are often more organized, and know exactly what they want, than the average consumer, and it is not difficult to see how much more efficient your business could be.
Go Global
Online B2B eCommerce allows you to tap into lucrative markets all over the world, which means you are more likely to build up a loyal client base and sell more of your products and services over time, This is especially true if you choose a product to sell that is in demand no matter where one may be in the world; things like medical supplies or agricultural equipment, for example.
Benefit from Increased Automation
Right now, it is possible to automate a lot of the processes involved with selling online, which means whether you sell B2B or B2C, doing it online is likely to be a more productive, and low-cost way of doing things once you have invested in all the necessary technology and software packages, anyway.
Higher Profits
Many B2B companies can demand a higher price for goods and services because businesses often have more money to spend and a greater need for products, which means a bigger bottom line for your business too.
As you can see, there are some very real benefits to running a B2B business that you would be foolish not to consider if you have the kind of products and services that may appeal to business buyers.
