Starting a business today has a lower barrier to entry than ever before. There was a time when you had to come up with the capital for a building lease, inventory, and employees before you could even hope to make a dollar. Today, the internet has changed everything. In addition to (and in some cases, instead of) physical storefronts, some B2B entrepreneurs are instead building websites that give them direct access to their target audience–and vice versa.
“A March 2015 Accenture survey of B2B executive worldwide found that 55% of respondents at companies considered leaders in customer experience said eCommerce was a digital investment area that was critically important for sales,” explains nChannel.
B2B eCommerce can make you an international entrepreneur overnight, giving potential customers around the world the ability to learn more about your services, purchase your products, or contact you with questions 24 hours a day, 365 days a year.
The Commercial Finance Group has helped many different types of businesses, including B2B and eCommerce, do more than just survive in a crowded market. Through our asset-based lending and other custom financial solutions, we make it possible for these companies to grow and thrive. Although our physical offices are located in Burbank, we’ve helped businesses all over the country and we’d love to help yours as well.
Why Is Your B2B eCommerce Platform So Important?
Choosing to focus on B2B commerce doesn’t let you off the hook as far as customer service goes. In an increasingly crowded eCommerce market, the difference between you and your main competitor maybe nothing more than who is more friendly when a customer calls for help. For any eCommerce business, customer service starts with the type of experience customers have on your website.
Aspects To Consider When Choosing A B2B eCommerce Platform
- Functionality
Selling to other businesses is different than selling direct to consumers. Dealing with other businesses often involves complex agreements, privacy requirements, and functionality needs that wouldn’t even occur to the average consumer. When evaluating the functionality of a B2B commerce platform, consider:
- Responsive Design
- Self-Service
- Customer Specific Pricing
- Payment Options
- Platform Type
There are many different types of B2B eCommerce platforms, but most of them fall into one of two categories:
Hosted – With this type of platform it’s your job to find and maintain the service that all of your necessary software will run on.
Cloud-Based – With this type of platform, hosting is provided by the service provider and you’ll enjoy global access to your webstore from any browser anywhere in the world (so long as you have an internet connection).
Each of these comes with different considerations for maintenance, PCI security, and cost, so it’s not a decision to be made lightly (or without the input of a tech expert, on the off chance that you’re not one).
- Integration
Very few B2B entrepreneurs are able to find a single eCommerce platform that does everything they want or need it to, right out of the box. Even if you absolutely love the platform’s functionality, you’ll want to make sure that it can be fully integrated with your ERP or POS system. “A cloud-based platform with a strong API is going to be easier to integrate than an outdated or self-hosted solution,” continues nChannel.
Top B2B eCommerce Platforms For You To Consider
- Shopify Plus – Fully hosted, cloud-based SaaS platform
- Magento – Hosted, on-premise software
- NetSuite – Cloud-based platform that is part of NetSuite ERP’s suite of products
- IBM – Enterprise B2B eCommerce software
Looking For Funding To Grow Your B2B eCommerce Business? We Can Help
Want to expand into B2B eCommerce but aren’t quite sure where you’ll come up with the capital? The Commercial Finance Group in Burbank can help. Contact us to learn more about why our asset-based lending solutions are the preferred solution for businesses looking to expand and diversity.
