B2B buying and selling online is growing fast and will remain so in the next few years. As much as consumers are buying online, businesses are buying more. According to research from Frost and Sullivan, the global B2B e-commerce market will reach $6.7 trillion by 2020, about twice as large as the B2C market.
However, it is important for you to know among others that B2B online selling is quite different from the B2C model. Here JumoreGlobal lists some of the notable points which make B2B e-commerce special, with a corresponding business tip for each point.
- Many B2B products are of higher intricacy than the B2C products. Visitors to your online store hope to search and find fast and conveniently the exact product they are looking for. Because of a relatively large purchasing volume and varying demands of target customers, product prices also differ much more than the B2C model.
Business Tip: Create a well-made product catalog with advanced search options and make sure the products sold on your web-store are presented with exact specifications and as many details as possible. Search options such as sorting and filtering are crucial for potential buyers to find the exact product they’re looking for. You may also try to enable your customer to customize their own order to their individual needs.
- Sales on the B2B market often involve multiple people.For the B2C sales, consumers may buy a product just because of impulse, but when it comes to B2B, buyers need to make the value and benefit clear to their company. Often, several people from a business get involved in the buying process. This includes engineers, managers, designers, and executives.
Business Tip: If you want to persuade everyone involved in a buying decision, make sure your product description contains enough technical details for the technicians and also shows obvious commercial benefits for the executives. Impressive images and videos of your products would also help to roundly show your offerings.
III. The B2B sales cycle takes more time. Since the products often have special nature and the purchasing amount is typically large, B2B sales usually last for long. Therefore, nurturing potential customers to keep continuous and steady sales in the future becomes as important as selling products.
Business Tip: Content marketing is an effective way to develop potential customers. Making efforts to present attractive and informative content will bring you contact information from those who are interested in your product and company.
IV. On the B2B market, your company is as important as your products.Long sales period and technically complex products makes company trust an outstanding concern that affects a buying decision. Your web-store visitors not only look for product information but also company information. Before they buy, they want to confirm that your company is trustworthy.
Business Tip: If you want to win trust and recognition, pay more attention to your “About Us” page. List key members of the company and tell a story about how their experience informs the products and corporate culture. Positive comments from partners or past customers also establish trust in the company as well as the product itself.
Anyway, the B2B market is definitely different from B2C, so if you want to find a way effective in growing your B2B sales, consider our tips on how to optimize your online store for promising B2B e-business! For more useful solutions that help you sell, please visit JumoreGlobal.com to see our professional trading platforms designed for global suppliers and buyers who are engaged in cross-border B2B trade.