The acronym B2B means business-to-business, and it’s different from an ordinary business that deals with customers. The term can be used interchangeably with other terms like e-commerce, e-market or e-business.
In the past b2b wholesale platforms have been well managed and can handle large orders and other businesses processes with few hitches. But, what needs to be noted is that exceptionally well run wholesalers have massively invested in technologies.
There are many benefits to investing in digital transforming technologies for both the wholesaler and the B2B companies. For the wholesalers, three key benefits will be realized in b2b digital transformation. These are:
Customer Expectation and Satisfaction
Most customers have turned online to research on service, product fit and value for their money. The same also applies to B2B for wholesalers as it is to the retailers. Most customers are now online to look for products from digital stores like Amazon and Alibaba. They expect wholesalers to also give them great services and experience just like these digital stores.
Digital technologies allow the wholesalers to meet their clients online and in this way they increase their sales and gain more in profitability as many people are visiting these sites. Buyers can make quick decisions because questions are answered comprehensively by sales reps that are always online.
Customers do not need to call; they can chat and discuss the fully synced digital catalogues, which are made available by a cloud system. This is a very profitable method of increasing sales without many overheads. The customers are just required to log in the b2b wholesale platform portal and place an order and make payment.
Exploration of New Markets
The wholesalers can harness their growth areas and move fast to the market to sell their products digitally. This shows that what they offer is seen globally and have an opportunity to expand their market and increase sales.
For B2B companies, the transformation provides their staff with tools to do business like LinkedIn premium and others. These tools make the staff offer a superb service and customer experience to their clients.
A b2b wholesale platform is a business tool that offers fantastic opportunities to expand a business. B2B platforms are highly recommended for wholesalers who want to sell their products online. Since all buyers and sellers meet online, sales are executed fast and efficiently, and the prices are lower than what you’d find in a physical store.