Even before the pandemic, many people have been using eCommerce, but now, consumer habits have changed even more, and many now even prefer using online channels over going to physical stores. More importantly, this isn’t only happening in the B2C, but in the B2B sector as well. And while for some time this was the best way to exchange products and services because of convenience and necessity, others have realized that eCommerce comes with a set of benefits.
Now that we’ve reached this point of no return, you may be thinking about opening an online store or moving your B2B business online completely. Using digital instead of conventional catalogs, as well as opening an online store, instead of using a physical one is a great idea because online stores may help B2B sellers organize better, work faster and more efficiently, and even pick up the pace on sales.
The Opportunities of Digital Catalogs
While paper catalogs are great tools and offer a lot, including impacting the client more directly as a physical object, the opportunities that come with digital catalogs are reason enough to consider opening an online store for your B2B company. Using digital catalogs helps save time on distribution, improve interactivity and resources, and simplify the entire process of ordering and purchasing. They allow clients to communicate with you more efficiently, as well as faster access to more detailed information about their products. In short, they can be a great tool for improving customer service.
B2B online stores use PunchOut catalogs as the best mechanism for facilitating purchase and increasing profits. They allow customers access to the supplier’s website right from their own eProcurement system. They can also allow access and automation to documentation, including invoices, orders, delivery notes, or shipment status. This system is great for getting all the necessary information as it offers real-time data updates, such as delivery time and current stock, and it allows customers to maintain a connection with their procurement system while buying.
This system is great for your business in other, more direct ways. Using digital instead of paper catalogs helps you save money on paper, and it makes you a more environmentally responsible company. Moreover, it allows you to update the catalog instantly and without any additional cost. The catalog will allow editing products and prices, and offering discounts and promotions.
PunchOut is great for any B2B seller but they are a must for companies with huge lists of products. More importantly, some businesses require their suppliers to offer these types of catalogs, or they may simply prefer those who do, mainly because of how useful they are, and how positively they affect the whole process. Aside from this type, there are also hosting catalogs, which are static and can be useful for businesses with a much smaller range of products.
Other Advantages of B2B eCommerce
Not many businesses can stay relevant without an online store because eCommerce makes things much simpler and more transparent for buyers. This is why you may not be able to afford not to offer your products online. Thankfully B2B eCommerce comes with a wide range of benefits not only for customers but also for your business.
B2B eCommerce market is very profitable, but buyers expect the best customer service possible. Make sure that the customer service you offer is pristine and aside from digital catalogs, you should also try different approaches to attract new and retain old customers.
Online stores allow you to offer better prices, services, and availability. With online stores, order errors are minimal because of the transparent communication and information exchange between the businesses. So, unlike with physical stores, with online ones your clients know that their orders are always received, information is always given with precision, etc. Because it offers a much easier way to keep track of orders and purchases, an online store can help you establish a more personalized connection to each client. This can allow you to customize prices and rates, as well as offer discounts according to clients.
Finally, creating an online store that is easy to use, offering good prices and great customer service is the best way to build loyal customers. Besides, you should also provide useful information and offer the possibility of consults. The use of digital catalogs and allowing access to documentations can also turn your business into a preferred supplier for your clients.
Final Thoughts
Online stores can help increase sales, by offering businesses better service. Technically a B2B seller can work without one, but taking advantage of the benefits that come with eCommerce is one of the best business growth strategies right now because digital catalogs create useful and unique opportunities beneficial for both businesses.
