Table of Contents:
- What Is Ecommerce Ecosystem?
- The B2B Manufacturer Buyer Has Changed
- Benefits of Manufacturers Having an Ecommerce Site
- Factors to Consider When Creating an Ecommerce Store for Manufacturers
- Conclusion
What Is Ecommerce Ecosystem?
An ecommerce ecosystem is a complex network of interconnected systems that do ecommerce business. In general, an ecommerce ecosystem consists of the following components:
- Ecommerce platform
- Online marketing
- Accounting software
- Inventory Management System (IMS)
- Customer Relationship Management (CRM)
- Enterprise Resource Planning (ERP)
This does not mean that every ecommerce business uses all of the above tools, but they will use at least some of them. An ecommerce ecosystem may look different depending on the current stage of the ecommerce business. Companies that are just starting usually only care about getting new online sales.
The B2B Manufacturer Buyer Has Changed
The global pandemic has hit manufacturing companies hard. As reported by the National Association of Manufacturers (NAM) from February to March 2020:
- 35.5% of manufacturers disrupted the supply chain.
- 78% felt that the uncertainty surrounding COVID-19 would also affect their business.
Benefits of Manufacturers Having an Ecommerce Site
1) Direct access to customers:
In addition to higher profit margins, you will interact with customers, letting you learn from them and sophisticated products.
2) Opportunities to innovate:
Finding customers outside of your current relationship also opens you from the scenes you still have to follow. If you have an idea for a better product, you can act on it, and allow product analysis and iteration over time based on your customer’s wishes.
3) Scalability:
An effective application of ecommerce in manufacturing will enable your organization to scale easily to meet market demand and customer needs by opening new sales channels and constantly reaching new market segments.
4) Improved efficiencies:
Online sales referrals and checkouts greatly reduce the time your sales team spends on invoicing. Also, you can reduce the time you spend chasing invoices by automating payments and recurring billing for regular rescheduling. Both your staff and your cash flow will thank you for that.
5) Brand Awareness:
According to Google, 58% of B2B industrial shoppers start their research online with a product and then follow up with that brand. Your ecommerce website SEO can be optimized to get traffic from search engines for both product and brand name queries. So that more and more buyers know your brand and the range of the whole product.
6) Use of analytics:
With full access to customer data, you can use a range of ecommerce analytics solutions to promote CX and increase sales. For example:
- Specified similar product recommendations.
- Dynamic real-time pricing for various specifications and order volumes.
- Related up-sell/cross-selling positions.
- Best suitable warranty, servicing, or customer service packages.
Factors to Consider When Creating an Ecommerce Store for Manufacturers
The delightful customer experience (CX) is a big focus for modern B2B users. To capture a large B2B market share, prioritize the next 3 steps when building your ecommerce store.
- Identify your audience and their needs:
Unlike B2C, B2B brands cater to a small universe of shoppers with very specific needs. Knowing who your ideal customers are, where they live and how you can best serve them is to stand in the mortar of your e-store.
Start with early online market research:
- Scope of online competition.
- Analyze the online shopping experience they provide.
- Determine the preferred sales/marketing channels for your brand.
- Analyze the standard sales cycles in your industry.
- Identify key steps in the customer life cycle.
- Map the key steps in the sales cycle.
2. Select the products you will sell online:
Although not all B2B products can be sold online (especially those that require customization), you should set up a dedicated product catalog. You can divide your product into two categories:
- Available for instant online ordering.
- Sold out in person/through sales reps.
3. Build your ecommerce store:
With an array of out-of-the-box B2B ecommerce solutions like BigCommerce, you don’t have to start the development process from scratch. Instead, you can take advantage of pre-built basic commerce features, visual design tools, plugins, and integrations to bring your online store together. Getting started earlier can save you time and money.
Conclusion:
As the development of ecommerce websites becomes a priority for manufacturers and distributors, a user-friendly website with a strong user structure will offer the best services to your customers and increase their level of satisfaction. digital marketing agency offers affordable ecommerce solutions for small and medium-sized services.
