B2B Wholesale Platform: 5 Must-Have Features for Selling Wholesale Online
To stay competitive and successful, you need a great B2B wholesale platform and these 5 must-have features for selling wholesale online!
The B2B eCommerce is here to stay. More than 90% of the buyers prefer to buy online while more than 60% of customers confirm that ecommerce helps increase brand loyalty.
In two years or by 2020, the total volume of online transactions will exceed $1 trillion and the majority of orders will be placed, managed, and controlled online.
Establishing a wholesale ecommerce store will help you open up new business opportunities, lower costs, increase sales, and improve customer retention. The B2B buyers are becoming really smart. They require a personalized and simplified customer experience from their suppliers.
If you want to stay competitive and relevant, you not only need a great B2B wholesale platform, but you also need the right features that are designed specifically for wholesales so you can reduce costs and increase operational efficiency.
1. ABM or Account-Based Marketing: Most business-to-business wholesalers offer minimum order requirements, different pricing structures, payment terms to different customers, customer-specific product catalogs, and etc. based on factors such as frequency, purchase volume, and relationships. The B2B wholesale platform you are using needs to support account-based marketing or ABM with the ability to segment users and cater to all kinds of decision-makers while adjusting to customers’ business structures.
2. Rich Product Data: You as a B2B wholesale company need to present the most relevant products to the buyers based on their preferences and purchasing behaviors. You need an algorithm with the capability to match the needs of your customers with specific product characteristics. For this kind of algorithm to work, you need to have rich product descriptions, sufficient product data, and assets in your ecommerce database.
3. SKU-Based Order Form: Most B2B buyers come to your ecommerce platform to purchase the items they need and not to have a browsing experience. If your visitors or potential buyers know exactly what they need to purchase, an SKU-based order form can definitely save them a lot of time. Instead of wasting time searching or browsing items one-by-one, the purchasers can enter the quantity of the items they need and get to the checkout with just one button.
4. Restricted Access: For most B2B wholesalers, product selection and pricing may vary depending on the purchaser. We suppose you don’t want visitors who aren’t wholesale customers to have access to the pricing information. The B2B wholesale platform should allow you to restrict access to certain pricing and product information, limiting it to verified customers only.
5. API Integration: The B2B wholesale platform should integrate with backend systems so you can deliver a seamless customer-facing and shopping experience. For example, you should display the number of in-stock products in real-time by integrating with the warehouse inventory system, you can show payment and account status in real time by integrating the back office system with the B2B platform so customers can see their credit balance or you can integrate with your email marketing and CRM system to send out a targeted content. You can also use back-end integration with the procurement system of your customers, order management, and accounting software.
These 5 features are essential for running a successful and prosperous online wholesale business. It may take more effort and time to arrange these features, however, we can assure you that it is definitely worth the effort. Your store visitors and potential customers will appreciate the simplicity and convenience and they will be more likely to stick with you as a reliable and professional supplier.