Choosing the most appropriate B2B e-commerce solution to allow your business to stay abreast of the B2B e-commerce boom is very daunting for the beginner.
To make things more challenging, customers increasingly expect the best experience in online transactions, so it’s a juggle between internal needs and client demands.
There’s a myriad of solutions available. Knowing which one to plump for requires careful consideration of your and your customers’ needs and then finding a platform that caters to those needs.
This article details the features we consider to be essential when investing in a B2B specific e-commerce solution.
Ability to manage different corporate accounts
B2B relationships are often complex, and each customer may be very different, so an ability to personalise the user experience is essential. B2B accounts commonly have multiple users, each having unique roles and purchasing rights. This is particularly so with companies that have various sub-divisions or business units.
Internally, corporate account managers should be able to deal with complicated corporate accounts. Externally, B2B customers might want to personalise your system’s interface to suit their own internal structure and systems, such as adding authorised users or create their own purchasing rules.
Ability to create multiple stores, websites and organisations
B2B businesses that operate internationally face challenges with things like different languages, currencies and tax regulations. If your business operations span several countries, you will need a platform that can address such challenges.
Look for features like the ability to have multiple websites in different languages, multiple price lists in foreign currencies, flexible taxation rules, etc. Mercifully, many platforms have built-in functionality to cover the most common scenarios. However, suppose you are building a platform from the ground up rather than using a ready-made solution. In that case, you should be sure to include enough extra capacity to scale into overseas markets later on.
User access control
Every B2B customer is different. For each one, you may be dealing with various people, each with different roles and responsibilities. This brings challenges, as you will need to give varying access levels depending on what information each person needs to see.
Typically, an administrator sets up the permissions for each user needing access to the platform. In general, buyers are the most common users from the clients’ side who need access. Even then, differing levels of permission may be necessary depending on the seniority of those buyers. For example, the senior buyer may have access to detailed financial information such as orders and invoices, but a junior buyer probably wouldn’t. As such, your chosen platform must have the capability to offer customised levels of access.
Integrated content management system (CMS)
One of the most fundamental B2B customers’ requirements when buying online is easy access to appropriate detailed product information.
Unlike B2C customers who buy on an impulse driven by clever branding, B2B buyers are much savvier; they carefully consider all purchases and expect to have access to sufficient information to be satisfied that the product they are buying matches their requirements.
Alongside brochures, you may need to provide detailed product specification sheets, certifications, video clips – everything that will allow your customer to make the most informed decision from their computer.
Ensuring your platform has robust CMS functionality will streamline the process of adding or updating product-related content.
Catalogues personalised for different customers
Being able to offer catalogues that are personalised to them is one of the features most welcomed by B2B customers. Having such capability means you will focus on their needs without diluting the information you provide them with irrelevant products. Catalogues can be personalised for each level of your clients’ hierarchy, from corporate down to individuals.
Ability to create multiple price lists
B2B pricing is often highly complicated thanks to factors like discounts, order volume, credit terms, etc. Dynamic pricing using specific business rules can further complicate matters.
Therefore, when choosing a B2B e-commerce platform, find one that can create individualised price lists and keep those synchronised with your ERP system.
Allow clients to create multiple shopping lists
Just as B2C customers can create wish lists in their Amazon accounts, B2B customers like to have the facility to save multiple shopping lists for their various projects or business units. This allows them to control their projects and quickly make the purchases when they need to.
Streamlined interactions between you and your customers
Despite tremendous advances in technology and software, it is still tough to automate some activities such as sales. That said, there are features available in many B2B e-commerce platform solutions that can simplify and rationalise specific interactions with customers, and sales negotiation is one. This can be achieved, for example, by streamlining the order process by way of electronic submission of sales inquiries, purchase orders and Request of Quotations (RFQs). Your customers will be able to shop and buy directly through your platform, and your sales staff will be able to action all customer requests via the same platform.
Flexible workflows
Well-structured workflows are essential in any business. Without them, confusion sets in, systems collapse and customers get disgruntled. However, it is all fine and dandy having good workflows in place, but the burning question is, will they still be appropriate as your business expands?
When choosing a B2B eCommerce solution, bear this in mind whilst being conscious of the fact that your customers’ needs (and therefore their demands) can change too. Ensure that the solution you go for can create and manage create unlimited custom workflows.
Data collection and reporting
The great thing about the massive transition to online transactions we are currently experiencing means that data gathering is easier – and more essential – than ever. A good B2B e-commerce solution will collect analytical data on so many metrics relating to your customers and how you conduct your business. For example, you can track KPIs, see how different marketing tactics affect them, and so much more.
Therefore, you should look for a platform that (a) allows you to gather and analyse such data and (b) generate reports that are useful to you. This will, for example, allow you to understand better how your customer buys, enabling you to create appropriately targeted marketing campaigns.
Finally, think of the future
The features your B2B e-commerce platform will have ultimately depends on your current needs. However, it is prudent to think ahead and decide what your business will look like in the future. That will allow you to ensure your chosen platform can expand accordingly. For example, you may not need a particular feature right now, but you might in the future, so be sure that it can be added without too much trouble when the time comes.
