Top Benefits of B2B E-commerce
B2B and retail e-commerce sales are growing as B2C e-commerce continues its rise as a preferred purchasing method. In fact, research and advisory firm Frost & Sullivan projected in a recent survey that B2B and retail e-commerce would hit $12 trillion worldwide by 2020, up from $5.5 trillion in 2012, for a compound annual growth rate of 8.11%. Now more than ever, suppliers and manufacturers are compelled to offer e-commerce purchasing as part of an omni-channel sales approach. The inSitu Sales mobile app makes it very easy to offer your customers a mobile platform for accurate, safe, and convenient ordering as well as an opportunity to collect customer data to use later in broader analytical exercises. There are many benefits to offering a mobile ordering system to customers. Below are some of the most important.
Adopting a multi-channel sales approach enables your company to scale quickly and efficiently. Customers are able to view product offerings and related information, place an order and even submit payment without visiting a storefront or office. This means that your business may have the opportunity to expand your existing regional territory to new areas – nationally or even globally in a relatively short period of time.
Lower Cost to Serve Customers
Mobile apps and B2B e-commerce platforms that enable customers to place orders at point of intent, when and where it is convenient for them leads to a lower cost to serve customers. Your sales team will be able to spend less time hand holding, hard selling and order taking in order to focus on acquiring new customers, servicing existing ones effectively and developing custom sales strategies and promotions based on purchasing behaviors.
Apps such as inSutu Sales’ that sync with existing inventory management or accounting software such as Quickbooks, Xero, and SAP Business One, improve internal efficiencies by eliminating the need for double entries of sales and customer information. When customers and sales reps have convenient access to accurate product information such as images, pricing, and availability it improves engagement and the overall quality of the user experience.
Making the process very simple and convenient to place high volume orders and reorders with purchasing history easily available will undoubtedly increase sales. Our analytics tools enable you to create sales reports that can lead your sales team to create special promotions for frequently purchased products, new items, excess inventory or items that you would recommend as a good fit for a customer’s existing portfolio. Secondly, the ease with which a link to a B2B e-commerce portal or app can be shared in email and digital marketing campaigns increases brand awareness exponentially, which of course can lead to increased customer acquisition and sales.