6 Tips to Start a B2B eCommerce Business.
Setting up an online business is crucial to expanding the wings of your business across boundaries and reaching a wider audience. A B2B business can also be setup as a B2B eCommerce business to take advantage of eCommerce technology. One of the main points in setting up such a business is to take advantage of electronic payments. However, it is important to understand how to set up a B2B eCommerce business in order to ensure that it is a successful venture.
Here are 6 tips that will help you setup your B2B eCommerce business.
1. Simple interface
The ease with which a potential buyer can explore your eCommerce store is often the deciding factor in making a purchase. It is therefore important that you design a user-friendly interface, which is easy to explore and make orders.
2. ERP/Accounting System Integration
Though the dollar amount of an order may be smaller in eCommerce, yet the number of transactions can be astounding. It is a good idea to automate the data transfer of orders and eliminate the data entry cost. One of the best ways to set up a b2b eCommerce business is to eliminate manual processing of orders. This may help you significantly reduce expensive errors in order entry, save payroll costs, and improve customer service.
3. Improving cash flow
Quicker processing of orders, from receiving to shipping, would help improve cash flow. As different companies operate differently, the ways of increasing cash flow may differ. For example, if you work in a restaurant and want to come up with a new way of making more money for the business, check out this page to calculate food costs. By monitoring your inventory, you are able to start making a profitable and successful menu. This will work in the favour of your business. Whatever you decide to do for your business, be sure to do your research into it before committing to anything. By removing the roadblocks in booking and processing the sale, you can speed up your revenue cycle and improve cash flow. By accepting electronic payments from your customers, you further speed up incoming payments and boost cash flow. If dealing with money is not your strong point, maybe locating professionals from outsourced bookkeeping services could work in the favour of your business. At least you can leave this task to someone who knows what they are doing and focus on improving other parts of your business.
4. Improve product visibility
Improving product visibility and accessibility is a crucial step to expand the reach of your products and improve revenue from online sales. Many consumers or B2B buyers often look for new product choices online. Many make purchase decisions without actually seeing a product in reality. Make sure that you have good product images and detailed descriptions. Also make sure that you have customer reviews of your products.
Mobile is everywhere. A majority of your potential customers are using mobile to shop online, making 20-30% of the total eCommerce visitors. eCommerce sites that choose to make their online stores mobile compatible would give their consumers a reason to shop with them.
6. Seamless customer experience
Give your B2B customers a seamless shopping experience and they are mostly likely to do business with you. This is one of the key ways to set up a b2b eCommerce business. If efficiency and maximising the customer experience are important to your business, perhaps you should consider using something like a real-time event management platform to achieve these goals.
You can easily score over your competition by offering a customer-focused shopping experience to your potential customers, making the platform intuitive and online ordering process easy.
Bonus Tip: Use Smart Payment Options for your Business
When selling online, you will need a way to accept online payments from your customers . For that you will need to know What Payment Options Do Consumers Want for eCommerce. Let Access Payment Systems help with our electronic payment solutions and merchant gateway. We provide a Virtual Terminal to make it easy for you to manage your merchant account. Let us help you with our FREE Merchant Account Analysis offer. We’ll analyze your merchant account rates and let you know how to Save!
By making it easier for prospective B2B buyers to shop with you, you are giving them an improved shopping experience and thus improving your chances of boosting online revenue growth rates.
Contact Us for more information on Identity Verification, Real-Time Check Verification, Credit Card Processing, or eChecks and ACH Transactions. Or take us up on our FREE Merchant Account Analysis offer. We’ll analyze your merchant account rates and let you know how to Save! If you are ready, you may be able to Switch and Save!