B2B Ecommerce and Magento
WHAT IS B2B E-COMMERCE ?
Business to Business (B2B) Ecommerce refers to marketing or selling products or services to other business organizations. Traditional Ecommerce system mainly aims B2C Marketing (Business to Consumer) which is targeting end consumers.
Alibaba’s success got more investors attracted towards the B2B business model. B2B e-Commerce strategy is more straightforward compared to B2C, as an organization’s purchase decisions are mainly based on the revenue impact. For common customers, they are not much worried about the revenue impact or return of investment. B2B marketing is more challenging than B2C due to this reason but in terms of data analytics and prediction, B2B data sources become more robust and accurate.
WHO ARE B2B MARKETERS ?
Any organization which is selling products or services to other organizations comes under B2B. Software subscriptions, Software as a Service (SaaS), accessories, office supplies etc. are some examples. While doing B2C marketing merchants will be targeting different end consumer groups and their tastes, but in case of B2B marketing, the target audience are key decision makers in the organizations.
WHAT ARE THE B2B NEEDS ?
- Setting up company hierarchies and parent/child level order approval process
- Customer-specific products and pricing
- B2B Payment options
- Quick order and reorder with bulk products
- Self-services quotes, requests, and approvals
HOW CAN MAGENTO SUPPORT B2B ?
Magento started as a B2C platform and initially the B2B implementations were handled using third party extensions. In 2017, Magento released Magento Commerce & Commerce Cloud Edition 2.2, which includes Magento B2B features and functionality. This provides a clear path forward for B2B companies looking to modernize their customer experience and purchasing process. Also, the main advantage here is that Magento can run multiple B2B and B2C sites from the same platform. This will be easy and efficient for the store owners to manage sites from a single back office.
WHAT DOES MAGENTO B2B OFFER ?
Magento B2B can handle most of the B2B requirements out of the box. This can reduce the complexity of implementation and amount of customization. So the merchants can hit the market faster. Magento B2B can provide capabilities needed to create a bestin- class B2B commerce experience which includes company account management, custom catalog and pricing, quick order, requisition Lists, quoting, payments on account, mobile-ready sites and detailed reporting.