In this blog, we’ll explain what an ecommerce portal is, how it works for business-to-business (B2B) transactions, and how having one is an important addition to your digital system.
B2B explained
Every business has a need to buy or sell goods or services from other businesses. These transactions are called business-to-business or B2B. B2B examples run from an insurance company having to buy its office furniture from a wholesaler, to a manufacturer having to get the raw materials for its goods. You get the idea: It’s one company selling something to another company rather than a business selling something directly to an individual consumer. That would be B2C.
B2B and B2C have similarities when it comes to doing business, but there are also many differences. Both require advertising of their products and services, and each needs to nurture relationships. But B2B is much more complex. B2B transactions often involve large quantities of goods and highly technical services. Plus, the personnel involved on both sides of the deal are usually highly knowledgeable about their respective products. One business dealing with another business can also mean several layers of approval before a sales deal can close, and partly as a result of that, extended periods of time for deals to be completed. This means that B2B sales have to be conducted with a greater understanding of the people involved on both sides of the deal.
Ecommerce and ecommerce portals
Ecommerce means buying and selling products and services online. When it comes to B2B, ecommerce has become the main way these transactions are conducted. In fact, B2B ecommerce has become a very big marketplace.
To give you some idea how big it is, Grand View Research has predicted that globally the B2B ecommerce market will expand between 2022 and 2030 at a compound annual growth rate (CAGR) of 19.7%. And that’s from a 2021 value of USD $6883.47 billion. That’s a lot of transactions and a lot of money.
The best way for a business to participate in the B2B ecommerce marketplace is by installing and using a B2B ecommerce portal. A portal gives access to a website page. It is a platform where information about products and services can be found and transactions can take place.
How can a B2B ecommerce portal take your business to the next level?
1. You’ll be able to reach a global audience
The digital world gives you access to more potential B2B buyers in your country and overseas, and you’ll be able to give the information presented on your platform an accessible, friendly design. When your B2B business is automated, communication between the two parties can occur despite differing time zones. It all adds up to the fact that a B2B ecommerce portal will make you more visible and help you develop your brand.
2. It will increase sales
A great advantage of ecommerce is that a potential buyer can discreetly be introduced to items in your inventory that are better and more expensive than the ones they’re considering, or they can be encouraged to add something to their purchase. In sales terms these are called cross-selling and upselling. These techniques can easily be facilitated on an ecommerce portal with the help of AI-based product suggestions. There’s no doubt, you’ll find them a great boon to your company.
3. Your customers will have a better experience
Ecommerce portals can be designed to look however you want them to look. In other words, depending on the products or services you’re selling, they can be presented in a way that will appeal to your target audience. Likewise, for the actual business of purchasing. Being able to tailor information to a specialized customer base means being able to communicate with them on their terms. It doesn’t matter if you’re operating in the tech world with millennials, the construction world, or the world of handmade Turkish rugs, our online sales platform will speak directly to whoever your customers are, and that’s something they’ll appreciate.
DEAR Systems’ online B2B portal features
DEAR Systems’ B2B ecommerce portal has useful features created to make your transactions smooth, stress-free, and customer friendly.
These features are:
1. A cataloging function that can be expanded and customized
DEAR System software allows you to have several catalogs for your goods at the same time. This provides a way for you to target your sales; some buyers can be directed to one catalog, while others can be sent to another. Each catalog can have its own design and branding and be given its own domain name. It’s the kind of feature that will get you noticed.
2. A platform that can be custom designed
The best ecommerce portals are visually appealing and easy to navigate. These features make it more likely customers will spend more time on your site. DEAR provides you with navigation bars and carousels that can be customized for each ecommerce portal you have. It’s a good way to give your users the ultimate surfing experience.
3. A seamless integration with DEAR inventory
This is very useful. By integrating your DEAR ecommerce portal with DEAR inventory, you’ll have a seamless sales process from beginning to delivery, and you’ll get it done faster. Completed customer orders will automatically show up as Authorized Quote, Authorized Order, or Authorized Invoice. From there, DEAR sales module’s pick, pack, and ship functionality takes over, managing the complete order fulfillment process effortlessly.
4. Integration with your accounting system
Because DEAR’s B2B ecommerce portal integrates with whatever accounting software you use, you’re able to monitor and track each one of your sales. By having this information in your system, you’re able to produce reports on sales past and present in any configuration, information that will lead to you making informed financial decisions.
5. Options for payment
Our B2B portal integrates with payment gateways like Stripe and Paypal. It’s a secure and trusted way for your customers to pay you for their goods or services on the spot.
6. Easy reordering for your customers
Reorders are common in B2B transactions, and DEAR’s ecommerce portal makes it simple. The platform also lets your customers view their order history and check their order status anytime from anywhere.
7. Getting promotions out and having different price tiers
DEAR’s B2B portal lets you make special offers to customers or target particular audiences. For example, if some of your customers have pulled back on their buying, you could offer them a special discount.
Final thoughts
We’ve explained the ins and outs of ecommerce and ecommerce portals, and shown how they fit into B2B dealings. DEAR System software provides you with automation that streamlines your sales process and actively engages your business customers. Because you can integrate DEAR’s portal with inventory management software, accounting software, and payment gateways, your B2B business is made easy for you and your customers.
If you want to learn more about DEAR’s B2B ecommerce portal and how it can help grow your business, call and schedule a consultation with one of our experts today.