How To Leverage B2B Ecommerce To Grow Your Wholesale Business

The pandemic outbreak preeminently accelerated digital adoption in recent years. 

But how can enterprises capitalize on the market boom?

Well, B2B ecommerce is the road to the future for enterprises planning to chart a northward chart!

Wondering what makes us say that? 

Let us look at some B2B ecommerce figures for 2023:

• 18.70% is the expected B2B Ecommerce market annual growth between 2021 and 2026
• 10X+ growth forecast for the Indian B2B ecommerce market from 2021 to 2025
• 67% of the products are purchased online by B2B buyers
• 60% of B2B businesses feel multi-channel interactions increase their average ticket size
• 40% of revenue in leading B2B organizations is driven by mobile channels 

Source: Statista, BusinessWire

Wow, that sure puts quite a pressure on B2B wholesale ecommerce businesses to up their ecommerce game! 

The question here is - Have you  been able to leverage B2B online commerce to your advantage yet? 

Well, even if you have not, let’s not fret over it.

All you need is the best B2B ecommerce platform to seamlessly design a winning formula for your B2B wholesale business. 

How to leverage B2B ecommerce to grow your wholesale business

The markets and buyers have changed. And now is the time for wholesale brands to follow suit by adopting B2B ecommerce. 

Here is how enterprise brands can make the most of digital commerce boom and grow their business:

1. Automate processes to make selling faster

The one thing about b2b selling is a longer sales cycle. However, by automating the processes, business-to-business enterprises can quickly make selling faster. The B2B buyers usually purchase in bulk, and that means sellers need to be equipped with functionalities that enable easy negotiations and handling of large orders. How about embracing self-service on your B2B ecommerce platform? 

Yes, the B2B buyers have adopted self-service with open arms, and now it is your turn to allign your ecommerce business channels to a self-serve model. StoreHippo offers a host of enterprise-grade features that help B2B businesses implement self-service. It offers built-in forms that enable brands to add various forms at different stages of a purchase cycle, RFQ, MOQ, inbuilt 3-party buyer-seller-admin chat that help facilitate faster negotiations, pricing comparison, tiered pricing etc help make informed decisions faster and cut down on negotiations time. 

The built-in blog engine from StoreHippo also helps the B2B ecommerce brands create user-friendly content helping the buyers make informed decisions. B2BThese brands can also integrate with different chatbots and live-chat software to help their buyers connect with support teams or sellers in real time.

2. Sell omnichannel with focus on mobile

The new-age buyers today look for a seamless shopping experience across multiple channels. To offer an impeccable B2B shopping experience with focus on mobile channels has indeed become very important. By adding multiple touchpoints for your wholesale ecommerce business, you can put your brand ahead of competition. 

The decoupled headless architecture from StoreHippo enables the B2B enterprise brands to add new customer touchpoints rapidly. Your enterprise brands can build itsmarketplace apps, create multiple front ends to quickly engage and convert your buyers using the same backend logic and APIs used for building the B2B marketplace website. 

3. Personalize pricing

There’s no second guessing that a personalized purchasing experience is one of the major aspects to lock-in more sales. And B2B ecommerce buyers are price sensitive who look forward to rounds of negotiations before finalizing a deal.  

Built on MACH (Microservices, API-first, Cloud-native, Headless) architecture, StoreHippo gives better creative control to the enterprises enabling them to implement multi-level personalizations. The inbuilt price override feature from StoreHippo helps business to business brands to customize their product prices in accordance to their customer segments, locations, order frequency etc. Your brand can seamlessly implement multi-level pricing (like volume-based pricing, rule-based prices, customer segment or customer-specific pricing, pricing comparison, tiered pricing etc) to attract different buyer segments. With B2B ecommerce platform like StoreHippo, enterprise businesses can also attract new clients by offering specific limited-period discounts using the built-in discount engine. 

4. Seamless payment and shipping 

The two most important aspects to take care of while selling online in a B2B industry are payment and shipping. Well, offering a frictionless payment process is not enough today. Unlike the B2C payments that take place in full and final settlements, B2B payments can also be done in halves, part by part, half in advance and the other half after delivery etc.

So, how can you implement seamless payments and shipping solutions on your wholesale ecommerce platform? 

With a futuristic ecommerce platform like StoreHippo, you can offer your clients and vendors multiple payment options. StoreHippo comes pre-integrated with 60+ domestic and international payment gateways to help provide multiple payment options like net banking, mobile wallets, subscription-based payments, credit management features, vendor ledger etc. to the B2B customers. Enterprise brands can adopt the latest B2B ecommerce trends for digital payments.

StoreHippo also helps automate your shipping and logistics process to automatically import bulk orders, update order status, assign orders, customize shipping rates etc. in a single click. Your B2B ecommerce businesses can also centralize all its orders from websites, apps, marketplace, etc. with the help of the order management system from StoreHippo. 

5. Multi-channel customer support 

The importance of multi-channel customer support is often underestimated in a B2B ecommerce set-up. When you streamline and speed up negotiations and enquiries with your customers on multiple channels, you can generate better leads and convert them faster. 

With StoreHippo you can offer multi-channel customer support on your B2B ecommerce platform. It comes with an easy 3-party chat option that enables the buyers to chat with sellers and sellers with the admin. With this, the admin can have full control over buyer-sellers chats and easily track the conversations between them about their enquiries and enable faster negotiations. B2B brands can integrate with different chatbots and live-chat software to help clients connect with support teams or sellers in real time. With a built-in blog engine from StoreHippo, B2B brands can create user-friendly content to help customers in making informed purchase decisions. 

Conclusion

The year 2023 brings with it truckloads of opportunities for B2B ecommerce brands to reach new markets and newer audiences beyond borders. 

However, B2B buyers look for great shopping experiences, extreme personalizations, convenient payments, streamlined logistics etc while shopping. Wondering how to offer all of these on your B2B ecommerce platform? 

With comprehensive B2B ecommerce solutions from StoreHippo, enterprise brands can set their businesses for huge revenue generation. StoreHippo comes with 300+ enterprise-grade inbuilt features like automated marketing tools, headless and MACH architecture to prepare the B2B wholesale ecommerce businesses for the dynamic market shifts. 

So, are you ready to explore the huge pool of opportunities that come knocking when you take the B2B ecommerce route? Get ready for an exciting new journey online, start your StoreHippo 14-day free trial now.