Advantages of B2B e-commerce include increased sales, improved brand awareness, market predictability and stability. Disadvantages include a limited market as well as a slow purchase decision time and sales process.Continue Reading
Carrying out B2B transactions over the Internet increases a company's revenue by allowing 24/7 online ordering and instant purchases. B2B sites make it easier for businesses to contact target groups, thus creating new sales opportunities and increasing the number of customers. Companies can leverage on SEO optimization to improve their online visibility and establish their products on the market faster and more effectively. B2B markets enable businesses to sign contracts with buyers, thus guaranteeing the business a constant flow of revenue and a high level of customer loyalty and ongoing commitment. Doing business with other companies online creates closer business relationships because of the numerous transactions that occur as a result of frequent communication.
The number of potential buyers in a B2B market is much lower than a typical consumer market. B2B e-commerce faces significant marketing challenges when compared to B2C because it relies solely on content marketing as well as social media to attract target customers. The majority of consumer purchase decisions involve one or two people, but the B2B sale cycle involves multiple stakeholders and decision makers, so the purchase decision stretches for a long time.Learn more about Marketing & Sales