8 key functionalities of B2B e-commerce
While B2C brands make up the majority of online retailers, B2B players also represent some of the major companies on the web, however they need very specific e-commerce solutions. Unfortunately, not all B2B e-commerce platforms are adapted to the demands of this market, therefore introducing appropriate solutions is key for success of the business. Below are some of the necessary B2B e-commerce functionalities.
1. Personalised prices
Pricing in B2C stores is usually straightforward - everyone pays the same price. However, it gets more complicated in B2B markets. One has to adjust different parameters for different clients due to the size of the order, the frequency of orders, the payment method, or the type of products. A B2B store should offer functionalities that will be able to handle any pricing model, regardless of its complexity. For example, price packages for individual product combinations, discounts for a certain number of orders, etc.
2. Minimum order size
In addition to solutions such as discounts on wholesale purchases, many B2B e-commerce platforms require a minimum order value for all or some of the products, which is necessary for proper margin management and profitability. Your B2B store should also include this functionality.
3. Customer registration
The B2B customer registration process should include the possibility of setting different price levels based on the contracts established with given customers or based on belonging to a certain buyer category. Similar dependencies should also be set in relation to number of orders, discounts, terms of payment, and shipment methods.
4. Advanced product search
B2B companies often have huge product catalogs, therefore easily being able to find what they need is essential. B2B e-commerce platforms should enable customers to go beyond basic inventory-based search and locate products according to their characteristics, price and availability.
5. Advanced billing functions
The billing process in B2B is far more complex than in B2C. There are certain features that are necessary to facilitate orders. For example, customers should be able to transfer shipping costs to the accounts of their delivery partners. They should also be able to pay with various methods such as invoice, instalments etc., and download payment information from previous orders. Lastly, the possibility of repeating a previously placed order without having to search for individual products is key for recurring orders of the same type.
6. Management of tax issues
In B2B sales, there are specific products and/or companies that fall under tax exemption laws or are not subject to them at all. It is therefore necessary to establish the untaxed status of certain customers, which in turn translates to the reduced taxable income due to the cash ‘discount’ on certain goods.
7. Ordering product samples
Before placing a larger order, customers like to ensure the quality of the products they order. Implementing a sample feature will allow businesses to check the quality of the product before making a final purchase, thus increasing the chance of making sales.
8. Quick orders
B2B customers often know exactly which products they want and how to find them using information such as product number or SKU. It is therefore a good idea to adjust the search bar in a way that will enable entering the product numbers in order to quickly add them to the basket.
To successfully run a B2B store, you need to choose the right B2B e-commerce platform and provide your customers with advanced features. Unchained Commerce can implement all the features listed above and others. Click here to find out more.
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