What is E-Commerce?
According to e-commerce software company Shopify, e-commerce is “buying and selling goods or services online.” The definition also requires that money transfers and information take place online.
What is missing in this definition is the impact of what can consider as e-commerce. Just because a business exists online does not mean they are involved in e-commerce.
At the same time, e-commerce transactions do not require any business at all, only two teams complete online transactions. E-commerce can mean anything from retail to stop shipping.
To better understand e-commerce and its impact, businesses need to learn about different types of e-commerce.
Different Types of E-Commerce
- Business-to-Business (B2B)
- Business-to-Consumer (B2C)
- Mobile Trading (M-Commerce)
- Facebook Commerce (F-Commerce)
- Customer-to-Customer (C2C)
- Customer-to-Business (C2B)
- Business-to-Administration (B2A)
B2B e-commerce, short for business electronics trading, the sale of goods or services between businesses through an online sales portal. In general, its use improves the efficiency of a marketing company’s efforts. Instead of receiving orders using the goods of people (sellers) by hand – by phone or email – orders obtain by price, reducing the high cost.
B2B E-Commerce, or Business to Business Electronic Commerce, includes the Internet – through an online sales site – the sale of products and services between companies.
While B2C ECommerce transactions are easy, B2B transactions are very complex. In B2C, prices usually adjust, delivery is straightforward, and prices are low. In contrast, B2B transaction pricing varies widely, depending on price variations everywhere. Because a business is so big (rather than individual consumers), the volume of products and services is so high – and there are so many complex shipping requirements.
Also, B2B E-Commerce markets often have to deal with very difficult tax and regulatory barriers. The complexity of the B2B E-Commerce market makes the demands of solution and implementation processes much needed.
The difference between business and consumer (B2C) and business-to-business (B2B)
B2B and B2C e-commerce can look similar; they are very different. Business buyers and sellers have different purchasing requirements. The difference could be:
- Quick Buy vs Mind Buying: B2C buyers will buy in a hurry and buy once, B2B buyers plan to buy and buy duplicates.
- Single Decision Maker vs Multiple Decision Makers – B2C purchases determined by the buyer, B2B purchases usually involve multiple layers of approval and may involve various departments.
- Short-term customer relationships vs Long-term customer relationships – B2C purchases are usually single purchases, B2B purchases are based on long-term and ongoing relationships. Set, fixed prices, and various prices – B2C prices usually not negotiate. B2B prices usually negotiate individually.
- Pre-Delivery Payment vs Post-Delivery Payment – B2C e-Commerce usually pays with a credit card, bank card, or PayPal before the B2B-paid cargo ship is usually in writing and maybe 30 days or more after shipping of goods. Delivery is focused on speed when delivery is focused on keeping time  – B2C buyers want delivery speed, and B2B buyers want delivery on a reliable schedule.
B2B consumer features
It is not possible to create a single profile that describes every B2B client. The needs of organizations vary widely in the industry, and consumers are approaching the process of making decisions about the most important things.
There are certain factors, however, that define many B2B buyers in the era of public marketing. Learn about these top five qualities and find out how to use your network to reach today’s consumers.
B2B consumers are more reliant on technology than ever before.
Professionals often too busy to meet in person, and calls are viewed as disruptive, not productive. Computers, tablets and smartphones dominate the day. And also Research shows that a major B2B shopping process has gone viral online. Specifically, it has gone with the community. A 2014 IDC study found that three out of four B2B buyers and eight out of 10 major consumers rely on social media to help make purchasing decisions.
B2B buyers can choose from a variety of products, services, and providers.
B2B professionals can find many vendors online, making it very important for brands to hold the attention of prospects at the beginning of the buying cycle. However, An effective way to market professionals for inclusion in the first phase is to access warmer routes.
Research shows that 69% of B2B buyers are more likely to choose the preferred vendor for them, so rely on your network to identify connections that can help you start relationships with second and third-degree connections.
Today’s consumers spend about two-thirds of the buying process on their own, without the input from marketing experts. You can still have an impact at the beginning of the purchase process, but it usually requires you to work.
One strategy is to save your contacts and tag them. By saving contacts, you can check your LinkedIn feed daily by purchasing signals that can help you identify new marketing opportunities.
B2B buyers want value-added partnerships with solution providers.
Given that B2B buyers can afford most of the shopping process on their own, there is no need to engage in traditional sales negotiations. Instead, today’s B2B buyers are selectively choosing consulting partners that offer great value during the shopping trip.
Marketing professionals must be prepared to listen to the needs of consumers and provide selected solutions that address different challenges and priorities. Therefore Leading your access to customer information shows that you are committed to understanding the customer and providing value.
B2B buyers have high hopes for retailers and solutions providers.
Many options allow consumers to choose from. They can state the principles of how they do business and who they do with. That means you have to successfully define the value of your proposal to win the sale.
Another way to differentiate yourself from other providers is to show thoughtful leadership in your industry. You can do this by:
- Highlights success, recommendations, and successful communications on your profile
- Sharing and commenting with insightful articles in your areas of expertise producing content that addresses key topic topics or general consumer questions on the LinkedIn Publisher platform
Benefits of Using the B2B Ecommerce Platform
There are many benefits to using the B2B eCommerce platform, and it is critical to business success. Here are a few reasons why using the B2B eCommerce platform is a guide to follow:
Reaching out to new customers.
A B2B eCommerce site with catalog pages looking at the public is a powerful way to reach new B2B customers. Going online, you can use digital marketing strategies to increase your reach.
Your future buyers will not only like to buy online but will also want you. B2B buyers are getting used to buying online, they are starting to expect it. Online shopping works and makes recurring purchases more fun.
Better management of suppliers and customers.
The B2B eCommerce concept offers better management for providers and customers. Going digital means you can use business management software. This will show you data on how your customer’s store is made.
You will be able to use this information to create a better, more personalized shopping experience for your customers. In fact, the whole program is a win for both teams.
Sell more to existing customers.
Not only do you reach new customers, but eCommerce also allows you to use an automated sales and marketing automation system faster. This goes hand in hand with giving consumers a personal touch. You will be able to help them find the products they are looking for, without asking them – as much as a potential salesperson.
Better data statistics.
B2B eCommerce provides a complete organizational platform for launching a complete mathematical campaign. With analytics, B2B can make better business decisions.
This feature is available on all B2B commerce platforms that provide an in-depth analysis of sales performance. You can pull out different types of reports to understand how your business is doing.
Statistics will help you determine what works and what doesn’t. You can find out what a customer wants from your site and then take steps to promote site engagement. Overall, this feature will play a key role in the success of your organization.
Types of B2B Ecommerce
B2B eCommerce comes in many forms. Here is a summary of the five most common types of B2B eCommerce.
Business-to-business-to-consumer (B2B2C) e-commerce takes the average person between the B2B and B2C organization, enabling businesses to communicate directly with the consumer. The B2B2C model can best be explained by looking at how the wholesaler or manufacturer interacts with traditional B2B and B2C models.
In those cases, the wholesaler or manufacturer sends the goods to B2B, and the goods are sold to the end buyer. In the B2B2C model, the wholesaler or manufacturer reaches the final buyer through a B2B transaction or by selling directly to the buyer. With B2B2C eCommerce, these changes take place online, usually through virtual stores, an eCommerce website, or apps.
For most B2B2C e-commerce models, the consumer knows that they get the products from a different business where they bought it. For example, a buyer may purchase a product on a related blog, but the result is branded and submitted by the manufacturer.
Businesses often buy goods in bulk at a lower price and then turn to sell them at a retail price. Goods are usually bought directly from the manufacturer or distributors. This is a great sale, and it is a popular B2B method. A wholesale store can also be described as a sale of goods to other businesses.
In-store B2B models exist in many industries, including sales, catering, construction, and medical, among many others. Traditionally, complete B2B transactions take place by telephone, email, or in the form of spreadsheet order forms.
With full e-commerce, everything is digital using the B2B eCommerce platform. The platform allows the seller to display products easily and creates a seamless shopping experience.
Manufacturers produce finished goods in large quantities using parts and materials in combination with handicrafts and machinery. In the B2B model, the finished goods are sold to other manufacturers or major retailers.
The automotive industry is an excellent example of manufacturers in the B2B arena. The manufacturer makes individual car parts, such as a fuel pump and an engine. The manufacturer then sells the parts to a car dealership that sells all of the car’s products for sale to the consumer.
In the same way with online retailers, affiliates, too. B2B buyers want shopping information similar to B2C, and these businesses are paying attention.
A retailer is a person who works closely with manufacturers to bring visibility to the goods they produce, increasing sales. In the eCommerce model, the sale of goods takes place online, usually through an eCommerce platform.
Many manufacturers work with distributors and taking digital goods creates a very important opportunity for growth. So, Like other B2B models, distributors are working to reduce lead time from sales to delivery and build a customer experience that meets customer expectations.
We will go the extra mile to focus on customers.
One reason that the B2B e-commerce market is growing is the result of B2Cs making a difference. While it is possible to make a change, there is a small learning curve. B2B transactions are often larger than B2C transactions, and B2B sales tend to rely on long-term relationships with vendors.