The worldwide business-to-business (B2B) eCommerce market size is projected to experience a staggering 19.7% compound annual growth rate (CAGR) between 2022 and 2030, according to Grandview Research.
This market includes international B2B retailers, as well as regional entities. While organizations in the former camp all have robust B2B websites, sales agencies in the latter group frequently do not.
When we use the phrase “B2B website,” we are not referring to a run-of-the-mill website. Instead, we are speaking of a dynamic website that is specifically designed to streamline B2B eCommerce processes. MarketTime’s B2B solution is a prime example, as this robust platform turns order writing into a seamless, one-step process. It also provides countless other benefits.
These sites include B2B order writing capabilities, self-service tools, and other features that are designed to remove friction from the purchasing process. If your organization wants to capitalize on the aforementioned CAGR projections, you need a B2B wholesale website. By investing in such a site, your organization can:
1. Create a Customer-Centric Experience
Modern consumers expect a buying experience that is tailored to their wants, needs, and preferences. The same holds true in the world of B2B eCommerce. Your clients expect you to provide purchasing pathways that demonstrate your awareness of their shopping habits.
While clients’ shopping habits are constantly evolving, there is one trend that is not going anywhere anytime soon — the ever-increasing amount of time that clients spend on their phones during a given day.
According to a 2021 Statista survey, 46% of respondents stated that they spend between five and six hours on their smartphones every single day. Another 11% spend seven hours or more on their handheld devices. This reality means that approximately 57% of your target audience likely spends over five hours on their smartphones daily.
By leveraging a B2B website that is mobile-friendly, you can make it easier for this segment of your audience to make purchases or explore your inventory.
2. Save Time for Your Customers and EmployeesGuiding clients through the purchasing process over the phone offers a few benefits, but it also incurs several drawbacks. The biggest downside is that this approach is very time-consuming for both your clients and your sales agents. Additionally, some clients will prefer a self-service purchasing option.
A B2B website will allow you to save your employees and customers time. Your clients can select the items that they want to purchase and place orders or reorders.
Once each order is received, your sales agents can reach out to your client to confirm the order and ensure that the client is reaping the benefits of any sales promotions you are currently running. This approach expedites the buying process while still providing your clients with personalized service.
3. Increase Sales By Meeting Customers Where They Are
One of the most notable advantages of a B2B website is that this resource will help you meet customers where they are. In turn, this will lead to stronger relationships and increased sales. Sounds like a win-win for all involved — but don’t just take our word for it.
During an August 2022 interview, MarketTime sat down with long-time B2B eCommerce sales representative Elizabeth McElhatten. While the interview centered around a day in the life of a sales rep, Elizabeth was able to shed some light on the importance of meeting customers where they are.
When asked about the quality of these relationships, Elizabeth stated that “the relationships that I have with my retailers are amazing.” She credited MarketTime and her personal dedication to her clients as the reasons that she maintains such great relationships with retailers.
A B2B platform can help your company achieve these types of lasting bonds as well.
4. Improve Your Reach
Deploying a B2B website makes it easier for clients and prospective customers to connect with your brand. A website can significantly expand your reach in the extremely competitive B2B eCommerce sector, especially when your site is paired with a well-designed digital marketing strategy.
Expanding your reach and increasing your visibility on the world wide web is critical to the long-term success of your business. With that in mind, it is vital that you not only have a B2B website but that the site is properly branded. Your site must align with your company’s values, goals, and voice.
B2B solutions such as the one offered by MarketTime allow you to align your website with your brand via its “instant customization” capabilities. At the touch of a button, you can adjust the feel, theme, and vibe of your B2B website. You can adjust color palettes, fonts, and more.
5. Scale Your Business Model
Do you feel as though your business has hit a seemingly insurmountable growth roadblock? Are your sales agents struggling to keep up with order demand or manage your suite of clients? Looking for a way to scale your business but not ready to take on more salespeople?
While all of the challenges mentioned above can certainly slow your growth trajectory, a B2B website can help you overcome these hurdles. A great B2B eCommerce platform will include order writing tools, self-service features, and other capabilities that you can use to scale your business.
6. Leverage Big Data
All of the major players in the B2B eCommerce sector gather and analyze untold amounts of data. They leverage this data to conduct market forecasting, identify potential growth opportunities, and stay one step ahead of the competition.
By adopting a B2B eCommerce platform like MarketTime, you can access many of these same capabilities. The advanced analytics tools that are built into our platform can provide you with actionable insights that you can use to make smart business moves.
These tools can serve as an equalizer that levels the playing field between your business and international enterprises.
7. Compete with Major Marketplaces
Speaking of your competitors — a B2B website is precisely what you need to keep up with other businesses in your sector. Well-trained salespeople with cutting-edge technologies are the winning formula that can pave the way for higher sales and strong cash flow.
While MarketTime cannot help you staff your company, we can provide your sales staff with the tools they need to tap into their true potential. For instance, your staff can create callouts on MarketTime’s B2B platform. These callouts are designed to grab users’ attention as soon as they log into your site. Your staff can make callouts like “Closeouts,” “Back to School,” “Made in America,” etc., to drive sales.
The MarketTime team explored the importance of pairing technology and talented salespeople in our white paper titled “The Human Factor.” If you would like to learn more about the importance of having a skilled sales workforce and access to great tech, download the free white paper.
Ready to Learn More?
If you want to better serve the retailers and stores in your client base, then you need to pair your expert salespeople with a dynamic B2B eCommerce website to better showcase the brands, manufacturers, and products you carry. Fortunately, incorporating such a site into your business model is easier than ever before, thanks to the professionals at MarketTime.
MarketTime provides sales agencies, suppliers, associations, and retailers with access to a world-class B2B eCommerce website. Our platform allows your clients to browse your inventory and make purchases 24/7, using your branded eCommerce store.
Additionally, MarketTime’s B2B websites give your staff the ability to see all orders in a centralized interface. This means no more wasting time navigating back and forth between your main software and a separate order-writing platform. When clients place orders using self-service tools, the designated salesperson will immediately be notified that they have a pending order to process. This reduces friction during purchasing and helps clients receive their orders without delay.
To learn more about this exciting opportunity to accelerate your growth, schedule a demo with MarketTime today.
