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Why give your B2B e-commerce website a B2C experience?

Today if you’re a B2B distributor or retailer or even a manufacturer, it is a mandate to have a website. Preferably, with all your products displayed along with their tech specs, usage information and prices, leading to a payment gateway.

Your consumer has evolved over the years. With B2C Marketing through e-commerce websites making life easy and purchases fast, people now expect the same kind of service from B2B related brands/companies as well.

Being present in the online world ultimately increases your brand image and therefore sales, assuming you have a good product to sell.

Enhances credibility

The millennials are not ready to make a purchase from a store that has no online presence. With all your competition being present online, the same is expected out of you too. Most customers today search online before they even make a visit to a physical store.

If you have a store that has no online presence, it would rank low on the customer’s search engine results.  Research has shown that all customers do an online research of the company before they make the final decision to buy a certain product.

Ultimately, your online presence, only increases your brand image and ultimately sales.

Automate sales

With an online e-store within your website, you are also giving your website visitors the chance to make an immediate purchase of their necessary product.

After validating the technical specification of the product and looking at the usage and other information, customers can make immediate purchase through payment gateways within your website.

This way, there is no delay in sales. Time of purchase is not a constraint. Sales personnel is not involved and hence saves you cost. Online purchases are transparent, easy and quick.

Scalability

Having an e-commerce website helps you increase stock, provide more choices based on customer requirement, meet market demand, and open new sales channels.

Reaching out to new market segments is always a possibility with the absence of geographical constraints the online business boasts.

Customer centric experience

With B2C e-commerce setting standards to online shopping, customer centric experiences are of high demand even by B2B customers.

With the usage of B2B rich content, beautiful images , interactive designs, and basically giving a B2C look and feel to your e-commerce website could actually boost your sales considerably.

Multiple offers & discounts

With advent of many holidays through the year, the B2B e-commerce marketeer has more chances of running multiple campaigns, discounts and offers through the year.

Pushing sales with many kinds of discounts through the year, increases your brand awareness and sales. A brick & mortar shop always poses on constraint on running multiple campaigns or discounts through the year.

Improved efficiencies

Through the implementation of ERP ( any B2C CRM), and other back-end business systems, an  increase in efficiency is seen in many e-commerce organizations.

Customers can order online at the convenience, make informed purchases in a matter of time.

Delay is sales is largely eliminated since a customer does his product and cost comparison online. With automated sales, payment and dispatch, the order process is considerably reduced compared to a brick & mortar store.

The absence of physical salesforce cuts down cost to a very large extent.

With B2C e- ecommerce companies setting up a benchmark in the last 2 years, B2B e-commerce companies have a lot to catch up on. Treating and behaving like a B2C e-commerce company is the first step to success.

Great products, reasonable prices, interactive websites and a to- die- for dispatch and delivery, is  the  right path to your online success.

Get expert advice from Altius Technologies to curate your B2B website.
 
 
 
 
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How Artificial Intelligence will be helpful for B2B Marketers/Distributors?

Artificial Intelligence (AI) has grown in leaps and lengths in the last few years. Though B2C marketers were the first to use AI in their marketing efforts, B2B marketers are not too far behind.

Let us see the emerging B2B marketing trends in the area of AI.

Digital Marketing using AI

Businesses are forced to adopt evolving marketing trends to survive and be relatable to the end consumer. Using AI in digital marketing strategies, will lead the way this 2020.

The influence of AI can be seen in machine learning and automation of smarter B2B campaigns. Since B2C has been using AI to learn consumer behaviour, the same can be applied by B2B as well.

Marketers can use AI to map consumer behaviour and draw parallels to their marketing campaigns. With social media being thrown into this mix, the results would be extremely beneficial to B2B marketers.

Lead generation

With the advent of social media, the use of AI has only maximised. AI tools can instantly analyse huge sets of data, in search patterns, and find inconsistencies and opportunities.

By considering past learning, the conclusion and prediction accuracy is high. Hence, AI has high chances of identifying a B2B customer, at the same time also suggesting how to reach out to him.

Integration of AI in the sales process will only increase lead conversion. As a great time-saver, with the help of AI , sales teams can concentrate on other areas of business.

Digital marketing industry, by 2023, will spend almost 25.1 billion USD on automation tools. Also, 79% of top-performing companies are already leveraging AI-based marketing automation tools, thereby leading to a 10% bump in revenue in only 6-9 months.

Automating marketing processes

By embedding AI in CRM databases, tasks like cold- calling, cold-emailing, answering customer tickets can all be automated.

Research proves that 80% of the sales force’s time is spent in carrying out monotonous activities, that can be prevented with the inclusion of AI in their respective CRM.

SEO rankings

The use of SEO in B2B companies cannot be stressed further. If you don’t rank in Google, all is lost for your company. With Google being responsible for 94% of internet traffic, it only makes sense to be present in the search engine results.

Businesses must try to rank in the first page of the search engine results, since research shows that 75% of the users do not go further than the first page.

With AI’s use of website and keyword analysis, high ranking SEO words will be suggested. AI can also audit your website and provide suggestions on word inclusions across the site for better ranking SEO.

It can also make changes to your content for better optimization. With the use of AI’s machine learning capability, we see great potential for business growth.

Personalization

Customers have greater affinity towards personalized emails targeted to them specifically. AI can increase relevancy of email , messages and ads based on specific sets of data.

AI can carry out email campaigns, ads and pop-up messages to market specific industrial tools and services to those in needs. The potential of personalization for B2B clientele is virtually endless for AI.

Most of the above-mentioned tricks and trades are already in practice in some B2B companies.

Where as SME’s are yet to adopt AI based marketing tools. Considering the usage of AI in B2B companies’ marketing strategies, choosing t will be the right choice for those who believe in evolving their B2B companies to sustain and stay relatable in the future.

Get a free audit of your B2B company’s website and see if you can be AI friendly now.

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Choosing the right eCommerce Platform – Dos and Don’ts

Today, the best way for a business to reach out to its target customers is to go online. However, simply putting your product list on the internet is not going to be of any help. You need to plan and strategize in a way to offer your customers the same shopping experience that one can get while shopping in a physical store. And to do that, one needs to select the best possible platform to launch their eCommerce business. Once you get the right things right, you can then start off by putting the digital advantages to use like automation and streamlining of manual tasks. One must always remember that eCommerce can be as challenging and demanding as any other type of business. Choosing the right eCommerce platform is highly crucial to determine the success ratio of your business.In this article, we will look at the various dos and don’ts of choosing the right eCommerce platform for your online business. An eCommerce platform acts as a spine for any online retail business and helps you compete online. Forrester has predicted that B2B eCommerce transactions will reach a whopping $1.5 trillion by 2021. Whether B2B or B2C, eCommerce platform helps you streamline all your business facets like vendors/suppliers, customers, and employees. It helps you execute complex business functions like inventory management, CRM, payment, and so on. Before we figure out ways of choosing the right eCommerce platform for your online business, let us look at the different types of eCommerce platforms available.

Fully Customizable

This type of eCommerce platform requires you to appoint a team internally or externally in order to develop it. Only niche businesses that have their own specifications and requirements tend to go for this type of eCommerce platforms.

Traditional Platforms

This type of eCommerce platform has a license that must be purchased and renewed periodically. The team can then work on the platform to customize it as per their requirements and then install it on cloud or on-premise.

Open Source Platforms

They are similar to traditional platforms except there is no need to purchase the license. However, you may have to pay for the initial development, implementation, ongoing development, upgrades, and migration.

Cloud Platforms

These eCommerce platforms are hosted on the cloud. Like traditional and open-source platforms cloud platforms also require regular maintenance and installation of upgrades.

SaaS Platforms

This eCommerce platform is generally built on a single codebase. Hence, it offers the same technology for a fixed monthly fee. Once you make up your mind about the type of e-commerce platform that seems suitable for your business, you must start considering the following points to choose the right eCommerce. Here is a list of dos and don’ts you must take into account while choosing the right eCommerce platform.

Dos

  • The different types of costs – Direct and Indirect. Direct costs include license fee, renewal fee, development costs, and the initial cost of site-building. The indirect are maintenance costs, UI & UX changes costs, upgrading costs, and the addition of new features or improvement costs.
  • The different tools you will need to run the business. That will be the determining factor to decide the plugins for the eCommerce website. Some examples of useful plugins are Accounting plugins, Email marketing tools, Apps to help in shipping and reward the customers, etc.
  • The right eCommerce platform must be SEO friendly, allowing you to post a blog, or enabling your customers to leave a review. Being SEO friendly ensures that your website ranks high on the search engine.
  • The right eCommerce platform must allow you to mobile-optimize your website. Since more than 60% of the searches are done from mobile devices, and most of those searches end up in purchases, it is important to make your eCommerce website mobile friendly.
  • The right eCommerce platform must offer an exceptional user interface. Offering a memorable shopping experience to your customers will help you in customer retention. Always remember, having an eCommerce business online is no different from owning a physical store.
  • The right eCommerce platform must offer a secure payment procedure. Your customers must be rest assured that their personal information is safe and payment details are secured.
  • Always check to make sure your eCommerce platform supports HTTPS/SSLenabling a safe and secure checkout for the customers.
  • The right eCommerce platform must allow you to scale up your website as and when your business starts to grow.
  • Keep your product catalogs updated in real-timeApplication Program Interface (APIs) will help you do that with ease.
Once you know what to do to choose the right eCommerce platform, you automatically know what not to do. After choosing the right eCommerce platform, here are some don’ts to refrain from.

Don’ts

  • Do not stack your product images. Going online does not mean you have ample space to showcase all your product images.
  • Don’t make the product exchange or return process difficult for your customers. This will lead to customer attrition.
  • Don’t make false promises to your customers. Remember, you must follow what you preach, else you will be unable to retain your customers.
  • Don’t miss out on offering post-sales customer service. Efficient post-sales customer service goes a long way with customer satisfaction.
  • Don’t ignore customer grievances. Customers can complain for various reasons like poor website interface or poor customer support. Working on these grievances will eventually help you improve your business.
  • Don’t rush, be patient. It takes time for a business to transition from offline to online. It takes time to reach out to people and it takes time for people to reach out to you.
Starting a business always holds challenges; however, eCommerce proves to be a new channel that can be leveraged to increase business sales and revenue. Ecommerce is all about providing the right shopping experience to your customers. And, choosing the right eCommerce platform will help you a long way. So, plan for the future, choose an eCommerce platform for tomorrow.
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Will Distribution Business Survive Beyond 2022?

Distributors and wholesale dealers are not new to the B2B eCommerce industry. Throughout the eCommerce supply chain, distributors, manufacturers, and wholesalers face immense pressure and end up spending billions of dollars just to survive in the market. According to a recent market survey, almost 40% of the distributors feel the competitive pressure against manufacturers due to increased digitalization. This is because retailers can simply go online to get in touch with the manufacturers directly on the online wholesale marketplace. And this means that the eCommerce chain remains functional even in the absence of distributors. Due to technological ignorance, distributors feel left out. According to the market research in the last Fiscal year, 52% of the distributors have an eCommerce website, out of which 80% do not have a web store plan for the next two years. Despite the fact that the eCommerce industry is offering opportunities worth $6.6 Trillion to the distributors; more than 70% of the distributors are falling behind in the race due to eCommerce immaturity and lack of technology. Distribution is a costly sales channel because of
  • Inefficient work structure
  • Inadequate market coverage
  • Insufficient financial support from the channel partners
  • Inadequate online presence
  • Insufficient knowledge about technology and software
End-users reach out to wholesalers directly due to their competitive pricing and strong online presence. Distributors fail to offer a competitive buying experience to the end-users, which is one of the preferential factors for the end-users, according to a market survey. The reason being, a majority of distributors fail to apply a good Product Information Management (PIM) system. This makes the work structure inefficient, lowers employee productivity, and increases maintenance cost making distribution an expensive sales channel. This is a vicious cycle that will go on unless specific measures are taken to bring changes in the channel. If you are a distributor, you must get ready to face the cut-throat competition in the race of digital transformation and follow some steps which will help you survive beyond the year 2022. So, what is it that a distributor must do?

Go Digital

Due to the overwhelming trend of online business, the distributors of the B2B industry are trying their best to establish an online presence before their competitors. However, before going online, try to conduct market research, understand what your customers are looking for, how much they are ready to spend, and who their favorite suppliers are. Unfortunately, there is a large percentage of distributors who have been in the market for more than a decade, offering a good customer experience through physical stores but, lack the knowledge of online sales. Take small steps to make a bigger impact. Below are some steps that you can follow to prepare yourself for the fierce online competition.
  • Optimization. Optimize your website pop-ups to attract and retain new customers.
  • Online Channels. Identify the right channels for online sales for your business. Not all channels are suitable. Look out for channels that help you reach your target audience. Identify the top and bottom performing channels and optimize them based on their ability to support sales.
  • Connect. Help retailers and sub-distributors go online. Connect with them allowing them to reach out to you, whenever required.
  • Customer Satisfaction. It is important to maintain the same customer service as your physical stores for better customer retention.
  • Security. Have an eye on the hackers who focus on data leaks and cybercrimes

Reduce Costs

The next 3 years are critical for the B2B distributors. Over the years, distributors have spent hundreds and thousands of dollars on sales. From now on, they need to work smart and the first wise decision to make is to develop an IT infrastructure at low cost. Here’s how the distributor can make its mark over the online platform and also save money and time while doing so.
  • Reduce your IT infrastructure costs. You only require the essential features that will add to the functionality of your online setup. Including different types of add-ons and features will only increase cost.
  • Identify the right cloud platform. Cloud platforms offer a competitive edge over your competitors. An ideal cloud platform offers unlimited storage space, reliable and secure data management, automatic software restoration, high speed and mobility.
  • Cloud Vs On-Premise. Move your IT infrastructure to cloud rather than on-premise to reduce maintenance costs.
  • Make the right choice. Identify the right eCommerce platform to go online. The eCommerce platform must be user-friendly, flexible, customizable and cost-effective.

Outsourcing

Distributors can simply be left out if they do not show an online presence. However, focusing on online visibility is not the only task the distributor must focus on. They must also take care of logistics, vendors, sales channels, and much more. In order to increase the online visibility and simultaneously lower the burden from the team, you need experts who can take care of the Search Engine Optimization (SEO) and Social Media Marketing (SMM) activities. Let your team focus their time and energy on other important aspects of the business.
  • Outsource. Outsource your SEO and SMM activities to an external agency. You can view the monthly reports to see how the company is performing online.
  • Consistency. SEO activities must be a regular activity and have a periodic frequency. For instance, have strict timelines for your website to appear on the top page of the search engines, regular posts on social media pages, and so on.
  • Experts handling. Let professionals handle the various types of content pieces for your business. Effective content for an eCommerce website includes detailed product description, well-structured schema, and well-structured product taxonomy. All of these content segments are essential to provide a better shopping experience to your customers.
  • Content Management. Posting high-quality content with essential keywords is important for greater online visibility. Let your content be relatable to your readers. Include knowledge-sharing blogs, articles, infographics and images, vlogs, podcasts, etc., on your website regularly. In addition, content curation and management for products are crucial to building trust and reliability with your customers.

Exploring

Distributors rely on long-standing relationships with their existing customers but do not focus enough on creating a new customer base. Attracting new customers is as important as retaining the old ones. This can be made possible by exploring different markets and sales opportunities.
  • Expansion. Consider expanding to newer markets. Try to understand your customers’ needs, analyze the changing trends of shopping, and expand your business to related products. Diversion based on customer needs can contribute significantly to business revenues.
  • Exploration. A distributor must be open to exploring new markets and discovering the various importing options available. This allows the distributors to be more reachable to their retailers and end-users.

Conclusion

Let the retailers approach you, for unique services that the manufacturers are unable to offer, such as Vendor Managed Inventory (VMI) tools that automate the process of distribution and saves the retailer’s time and money. Retailers have to simply reorder, and the distributor provides whatever is being ordered, allowing the retailer to never run out of stock. This becomes possible when the distributor has a strong online presence. This way, distributors are bound to survive for many more years to come.
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The future of Industrial B2b e-Commerce

Research states that high digital-quotient (DQ) companies generate five times the average compounded annual growth rate and 8% higher shareholder returns as their lower-performing competitors. B2B customers now expect a B2C experience but have less time to spare.

Personalization of your service goes a long way

The last couple of years has seen a paradigm shift in the customers’ requirements and B2B companies’ investment priorities. More and more B2B companies have started to provide a personalized experience to their customers.

Account specific storefronts- Customers want to see their purchase history

Dynamic B2B pricing, digitized line sheets that prioritize reordering, and customizable orders are some of the recent trends amongst. Customers now expect accessibility of transaction history, payment methods and delivery options when specific products are clicked.

Product recommendations in the same window

When you buy one specific product, it makes sense to present another product that can be used along with the product being viewed currently. This could enable bunch selling and increase sales.

Customized price list for every customer

Customers like to be given preference over others. Customized price list could reflect the no. of products being bought, price with discount, delivery charge and the amount being saved by the customer. Some organisations work on app as well. The same can be reflected in the app as well.

Customized catalogs based on preferences

Every buyer is unique and different. Customizing your catalog as per the buyer’s industry and needs may prove beneficial for you in the long run. The customer feels valued and reflects well on your brand image.

Dynamic content- what do you stand for?

Content is key in any website. Your website content should reflect for who you are, what you do and what you stand for. Most customers will buy a product from you and not from anybody else, because of the kind of brand you reflect to be.

Customers can do it all on their own, all the way, on their time

Customers today do not want any assistance when they step online to purchase their shopping list. They like to do their research, look for the right product, at the right price and make the purchase. They do not like to be handheld to the checkout. Having a fast and reliable self-service feature plays an important part in your brand experience.

Valuable content for every purpose

Customers are always in different stages of the purchase journey.
  • Awareness-stage buyers-they require preliminary information about the problem they’re currently facing, and solutions they can rely on. These prospects will be looking for blog posts, white papers, and eBooks.
  • Consideration-stage buyers – they know their options and are now comparing and guaging People at this stage want to see product comparison charts and infographics, as well as product demo videos.
  • Decision-stage buyers – they want to know that your company is the one they should purchase the product Here, you will need to convince them that you give them more value for the product that they intend to purchase—and any information that you want them to know about your company.
You need a team to be working on your content all the time. Emails, chatbots, social media posts, blogs, whitepapers, case studies, articles etc., is the way to increase your brand value amongst customers.

Voice of the customer in AI

As Abbie Griffin and John R. Hauser explains in a report from MIT: “Voice of the Customer provides a detailed understanding of the customer’s requirements, a common language for the team going forward in the product development process, key input for the setting of appropriate design specifications for the new product or service, and a highly useful springboard for product innovation.” Today in most cases customers type what they are looking for. In the next few months/by 2021, you will see customers talking into computers looking to purchase products. With AI being used abundantly by Amazon and Google in the products, the same experience will be expected during B2C and B2B shopping as well.

Data is everything

As you track your customer’s behaviour through your website. You learn them and create content they love.
  • When you see a certain blog or content that is being ‘LIKED’ or “READ” multiple times, you know the content/subject is getting traction. You create more content around the same.
  • When you notice that more and more support tickets are being raced regarding a specific feature, you develop more informational content for your customers.
  • If your wait time for live chat support is abysmal compared to industry standards, you look for alternatives.

Product performance is key in any business

If your product is no good, you tend to lose a customer. Selling a top performing product will make you’re a top seller as well. Keep in mind you need to keep a moving stock. Hoarding non-performing products in the warehouse will only cost you. Keeping seasonal sales in mind, you need to figure your inventory accordingly.

Shorter sales cycle=more time for your sales team

The shorter the sales cycle, the more time your sales team gets to nurture new leads and work on generating more sales. Many B2B companies struggle to integrate their collected data into their various systems and processes. Specifically, only 47% of companies consider their ability to integrate data into their CRM system to be “intermediate” or better. Hence the sales cycle is interrupted with incomplete / obsolete data.

Don’t alienate your trust signifiers

Your “About Us” page, privacy policy, and legal page (also known as the terms and conditions.) are very important for every B2B e-store. While these often won’t be looked at until later in the process, they help confer legitimacy. Having the minutest details mentioned in these pages could take you a long way.

Use and update buyer personas

Different parties within the same organisation could be coming to your e-store to search for products. Make sure you speak a language all of them can understand. Also, since we live in an evolving consumer world, it is best to stay abreast with all market studies that reflect your buyer personas.

Follow up proactively

With B2C using cookies to understand and track buyer behaviour, the same can be used in B2B as well. Many a times, products a customer may have seen few days back may pop up in social media platforms as he is looking at the page wall. The same can be applied for B2B as well. 2020 is here in a few months. It is time you started to work on a plan that could make you stand out from the rest of the B2B crowd. Vision a future for your company that is customer centric and customer inspired. Looking for more inspirationsget in touch with us.
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Importance of adopting B2B selling strategies for eCommerce. Learn more at the National Hardware Show 2020

The obvious fact to boost your sales is to meet the needs of your end-user. 

However, in the case of Suppliers/Distributors/Manufacturers, their ultimate-Thule is another company rather than an individual. 

The usual B2C strategy is outdated in your case & you require a different strategy to manage your B2B business via eCommerce

Continue reading to learn more. 

The Upside of a dedicated B2B eCommerce

  • Get higher invoice volumes per client:Companies have a requirement of their own & they like to order in bulk.
  • Look more like B2C yet gather huge sales: The popularity of retail eCommerce has changed the habit of companies placing their order on an e-Commerce. Offer your clients the best customer experience by optimizing your -Commerce.
  • Stay ahead of your competition: B2B clients prefer to repeat purchases with the same supplier that they already know who has already met their needs instead of starting a new process of searching for new offers, validation, and decision-making. Build a website that retains them.

Optimize your website for B2B customer experience

You can find Altius Technologies at the National Hardware Show 2020 to implement the upsides of B2B eCommerce for you.

Your $1 spent on us= $4 ROI for you! Refer some of the common strategies followed to optimize a website to reduce website bounce rate & increase website referrals, website traffic rate and eventually sales conversion.

1 Give attention to your product page

A vibrant display of your product is an important part of optimizing your B2B e-commerce. It can be achieved with premium services from Altius Technologies like Product Catalogue ManagementProduct Data Management, Product Information ManagementEnriching product data or by developing product Taxonomy & basing all information on Search Engine Optimization (SEO). Visitors will very easily lose interest if the product information is not relevant. Essentially, the mentioned services will update your product page with missing or new attributes and high-quality images. Once such services are implemented well, the Non-technical buyers can also understand and will be motivated to buy the product.

2 Automate your Inventory Management

Companies order in bulk. Imagine a situation where you had received a bulk order whereas you have no adequate inventory to supply. It can potentially harm your brand image. Automating your inventory management can save you a great deal of your time, labor, and money. Implementing such a service will make it easy to update, sync, and monitor all of your products and variants while giving shoppers a clear view when a product is low or out of stock. Also, a tool to automate your price quotation is a worthy addition.

3 Give Attention to UX Design

Your B2B website has to also look professional and less annoying to the visitors. Tips like: 
  • Using color, size, white space, etc., to set your most important content easily identifiable;
  • Making clickable items obvious.
  • Having a clean background and plenty of white space makes it look more professional.
  • Make calls-to-action stand out.
  • Highlight the user’s current location on the site.
Altius Technologies offers all the above B2B e-Commerce & Digital Marketing services and the same are up for your validation, assessment at the upcoming National Hardware Show 2020 in Las Vegas. 

About National Hardware Show 2020

National Hardware Show 2020 brings worldwide professionals offering innovative products & services together on a global platform to promote the hardware businesses in all sectors. It is an excellent opportunity for businesses to gauge the current market requirements and adopt the best strategies to benefit their businesses. National Hardware Show 2020 is scheduled for May 05-07 2020 at Las Vegas Convention CentreLas Vegas, USA.
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Impact of Technology on eCommerce

eCommerce is gaining pace like never before. Every business is transforming itself from physical stores to online stores. 

Technological innovation is changing the way any business is being carried out. But what do we mean by technological innovation? 

How does it impact the business? 

What is the impact of technology on eCommerce? 

All these questions and more will be answered in this blog. 

Technology helps to Enhance Customer Experience

Thanks to technological advancements, businesses are able to create innovative ways to enhance user experience while shopping online.

Today online shopping is much easier and hassle-free. Products can be easily purchased, sold, and even exchanged. Shopping is a matter of few clicks on mobile devices and the product is delivered at your doorstep in no time.

Technology Provides Personalized Data

This is a relief for the B2B sector. Companies are switching to B2B eCommerce and need real-time procurement data. Technology enables gathering personalized data which allows B2B players to understand consumer behavior.

This eventually helps the business deliver data-driven services which enhances customer retention and attracts new customers.

Artificial Intelligence

Technology advancement has given us the gift of Artificial Intelligence. AI is more useful for B2B eCommerce players since they have a limited number of large transactions taking place from the consumer end.

AI allows businesses to work efficiently, automate manual tasks, provide critical insights for decision making, increase productivity, and lower costs by making business purchases intelligent.

Procurement Management

Procurement process is one of the processes that have a direct impact on the growth of the business. Technology enables procurement managers to understand business requirements and make effective decisions.

B2B eCommerce players can use technology to offer purchase recommendations to their customers. They can also make use of technology like the CRM platforms to make structure purchases.

Payment Process

Payment has been made completely digital by the eCommerce industry. Moreover, customers are liking this since it enables seamless purchases.

Corporates are making use of e-wallets and gift cards which is a technological reform. Technology has enabled transparent and secure payment methods.

The eCommerce industry has certainly been largely benefitted by technological advancements and shall continue to do so. Human needs have always given rise to innovation and this is a major reason for all the advancements we see today.

This upsurge of technological innovation shall keep benefiting both B2B and B2C eCommerce players, making the life of individuals simpler to manage.