What is a B2B eCommerce Broker Site?

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HOW DOES A Broker SYSTEM WORK?

The Broker Process

B2B eCommerce refers to commerce that occurs between two businesses online. The transaction involves businesses selling goods and services to other businesses. B2B commerce has existed for a long time. However, eCommerce has changed the demands of buyers. This has forced sellers to adapt and provide buyers the best experience possible. B2B broker websites provide such an experience on eCommerce platforms. Sellers in B2B businesses can be:

  • Sellers who deal with wholesale products
  • Large scale distributors
  • Sellers who supply product resellers
  • Suppliers to organizations
HOW DOES A BROKER SYSTEM WORK?

Recent trends have shown that a vast majority, 93%, of B2B businesses prefer to purchase products online. This means that most exchange of products and services occurs online. Buyers prefer to use self-service and make the decisions about a sale themselves. Your B2B business needs to adapt to these changing market trends. Sellers have to use B2B broker websites to convert buyers leads to sales. Sites are necessary to keep up with the exponential eCommerce growth of today.

Benefits of B2B broker websites

Why B2B Businesses Need Broker Websites

ECommerce is upping the demands of buyers. Without technology and eCommerce solutions and tools, you cannot provide potential buyers with a seamless shopping experience. Broker websites improve the functionality of your B2B business or B2B auction site. Your business can optimize its website to meet the expectations of buyers and outdo your competitors. Presence on an online platform ensures that buyers will get a chance to familiarize themselves with the product. Then, they can have access to relevant product information and make informed decisions. This leads to an increase in inbound sales.

Every business aims to grow and be successful. You need broker websites online to maximize sales and revenue. At the same time, websites will help you direct your efforts and take a quantitative approach to scale. Without sites to increase productivity and Return on Investment (ROI), businesses cannot sustain progress.

B2B eCommerce requires a deeper understanding of who you’re selling to. This is because B2B transactions are more substantial and usually long-term. B2C eCommerce only needs your business to take into account the profile of an individual consumer. However, a business has multiple stakeholders. Employees may have some funding or executive decision-making restrictions. Websites help cross this hurdle to give your business a better idea of who the buyer is.

B2B broker website tools can provide customers an accurate quote for products to be purchased. Machine learning and artificial intelligence in eCommerce has made it possible to personalize communication and provide relevant data. ECommerce tools can help your business form customer groups. These groups can contain customers with similar preferences. You can tailor content depending on who is viewing the site. Consequently, personalization can help your business go a long way in convincing the buyer to choose your product. In this way, you can set your B2B business apart from competitors.

How to run a successful B2B broker website

B2B Broker Website Essentials

Use Technology to Streamline the Process

B2B eCommerce software and technology should be a part of your business’ website. These tools can assist your business with inventory management. Customers can then browse stock and immediately get data about items and availability. This seamless data flow will make your website simple and easy to use. If your website integrates an efficient payment hub and checkout process, it will make purchasing products from you even more attractive for buyers.

Recognize and Cater to the Needs of Businesses

Your B2B project should recognize that it is selling to a business. The business’ needs and requirements will be different from a consumer. Your business should provide maximum support to these customers to secure a sale. Businesses are interested in bulk buying. Keeping that in mind, your business should offer them shipping or volume-based discounts to make their shopping experience better.

Provide Relevant Information to Establish Trust

Your website should provide relevant product data. This can make the website a one-stop-shop for businesses. Websites with blogs related to the products help with SEO and visibility. More traffic on your website will mean more buyers will view your products. Overall, this traffic will translate into more sales. If your business’ B2B broker website has webpages for FAQs and instructional guides, it will only increase organic traffic.

Additionally, if businesses are using the resources on your website to research the best products, they will be more likely to choose your product. This is because they will trust that you have the relevant expertise and competency to create a high-quality product.

Be Quick and Efficient with Contact

Customer support is one of the most crucial differentiators between sellers. Businesses that have a positive experience with a seller’s customer support will return to purchase again. Your business should use eCommerce tools to maintain contact with all possible leads and customers. Guiding potential buyers will cultivate long-term relationships.

Your B2B broker website should make use of incentives to make customers return, such as discounts. Businesses should feel like they are getting the best deal by shopping from you. Loyalty programs and other incentives should encourage frequent purchasing. The most important thing is for your business to form meaningful relationships with buyers. Businesses as customers give the highest ROI when provided with customer support.

Your B2B broker website should also provide readily available product content to customers. The website should answer all their queries. Your website should also have tools that allow buyers to customize products and get itemized quotes to ease the buying process. Additionally, your website should generate multi-level logins for employees of a business. This will let the members of the supply procurement team add and remove products from the cart and give purchase approvals, etc. These measures will encourage businesses to shop from you again and even recommend your products or websites to others.

Working with Clarity

Clarity is here to help you with your broker needs. No matter the kind of eCommerce platform you're using—from traditional B2C to complex B2B marketplace software—we're here for you every step of the way.

Curious about how every step of B2B projects work? Get in touch for a complimentary discovery!

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