Getting Started With B2B eCommerce

Introduction to B2B eCommerce

If you’ve built a successful online retail business with platforms like Shopify, Magento, or WooCommerce, and you’re eager for new growth opportunities, exploring wholesale might be the next step.

In this guide, we’ll help you navigate the process of establishing or transitioning your wholesale business online successfully.

Let’s begin by exploring the advantages of moving to online wholesale, also known as B2B eCommerce. Shifting your wholesale transactions online can save you a significant amount of time!

Picture never having to:

• Receive orders through phone or email
• Manually check product availability
• Generate quotes or sales orders for each purchase
• Keep customers updated on their order status

Benefits of B2B:

• Consider your B2B eCommerce store as a no-cost marketing tool.
• Customers can efficiently order precisely what they need.
• A sales channel to foster trust and empower customers in their purchasing decisions.

Shift your wholesale business online with a Qoblex free trial to establish your B2B eCommerce platform! Need more reasons? Book a demo with us to learn more, and read on to understand the current status of B2B eCommerce and why taking your wholesale business online is a smart move.

The state of B2B eCommerce

Before committing, let’s understand what you’re stepping into. What’s the current state of B2B eCommerce, and why is it here to stay?

The numbers tell the story—75% of B2B buyers prefer online purchases over dealing with a sales rep. It’s quicker, more convenient, and available anytime. Buyers seek simplicity, and taking your wholesale business online achieves that and more.

The fact that major players like Alibaba and Amazon are investing in B2B eCommerce indicates a significant industry shift. Qoblex’s B2B eCommerce store enables you to establish a private online storefront for your wholesale customers.

If you already have an online store on platforms like Shopify, WooCommerce, or Magento, Qoblex can effortlessly import your products and showcase them on your wholesale store. It simplifies the buying process for your customers, allowing them to purchase from you 24/7.

Customize your store’s appearance, control which products each buyer sees, and set their purchasing prices.

Improve your wholesale workflows

Moving your wholesale operations online will improve your day-to-day tasks. Everything will be more straightforward, with all your necessary information centralized, making your workflows more efficient and accurate. Here are some examples:

Sales team workflows

Sales teams benefit from improved information access online, including quick access to product catalogs, product photos, and updated inventory levels.

Invoices, sales orders, and purchase orders

Real-time updates and centralized data enhance these workflows. Online updates simplify the process when the status of items changes, such as from packed to shipped.

Order fulfillment

Whether handling fulfillment in-house or through a third-party logistics provider (3PL), operating online ensures everyone works with the same updated inventory levels, fostering better communication and transparency.

Marketing activities

An online presence and storefront effortlessly enhance marketing activities, improving store visibility and generating interest in your offerings.

Individual workflows

Centralized information empowers employees, allowing them to independently navigate their daily activities at their own pace, eliminating the need to wait for reports from other departments.

Overall, the technical aspects of your workflows will stay mostly the same, but you’ll experience significant improvements in speed and accuracy in how you do them.

Determining the future of B2B eCommerce

As technology continually advances, here are key factors influencing your success in B2B eCommerce:

1. B2B buyers want a top-notch customer experience on all channels and stick with companies that consistently excel.

2. There’s a growing need for better price optimization and flexibility in Configure-Price-Quote (CPQ) across all selling channels.

3. The expanding capabilities in eCommerce tech are increasing the Total Cost of Ownership (TCO), pushing companies to consider unified cloud platforms more seriously.

4. Wholesalers are increasingly interested in eCommerce platforms that can handle complex configuration and pricing workflows.

5. Order management integrated at the platform level is crucial for synchronized order processing across all channels.

6. Meeting the demand for unique eCommerce buying experiences for various distribution channels, including partners, distributors, dealers, resellers, service providers, and OEMs, is highly sought after today.

How to shift from retail to online wholesale selling

Transitioning your wholesale ordering systems online might seem daunting, but consolidating your information in one central place comes with significant advantages you can’t overlook.

Here are five tips to make the move to B2B eCommerce smoother:

1. Personalize your approach: While the wholesale process tends to be slower, establishing a detailed product description, using clear product photos, and addressing common inquiries can help you showcase and sell your products online effectively.

2. Optimize pricing and minimum orders: Ensure your pricing and minimum order quantities are set up to make orders financially viable. This is crucial for maximizing profits and making the wholesale model work for your business.

3. Adjust order fulfillment processes: While your basic order fulfillment processes can remain similar, make necessary modifications for wholesale, including increasing capacity for volume and streamlining the pick, pack, and ship process.

4. Leverage eCommerce experience: Utilize your experience in retail or B2C eCommerce to bring the convenience of online buying to your new wholesale environment. Apply lessons learned from your previous ventures to enhance the wholesale experience.

5. See wholesale as an opportunity: Viewing wholesale as another sales channel and a means to boost your overall sales can help you recognize the value of this transition. Investing time and effort into moving into wholesale can be a worthwhile endeavor for business growth.

Measuring and tracking wholesale performance online

Now, let’s concentrate on evaluating the success of your wholesale business by examining the important metrics and KPIs.

Moving your wholesale orders online consolidates your data, making it simpler to track these metrics. There are three types of wholesale metrics you should monitor:

Quality metrics. These assess the excellence of your products. When establishing KPIs for quality metrics, consider factors such as:

• Production efficiency
• Percentage of defective products
• Shipping accuracy

Service metrics. These gauge how well you’re serving your customers. KPIs for service metrics may involve:

• Customer retention
• Customer purchasing frequency
• Customer satisfaction
• Buyer demographics

Operations metrics. This examines the overall condition of your business. KPIs for business operations concentrate on:

• Return on equity
• Return on assets
• Inventory ratios
• Warehouse expenses

Metrics and KPIs explained

Within each of these three categories, there are various metrics. It’s essential to concentrate on metrics that align with your operations, areas for enhancement, and those aiding informed decision-making. By assigning measurable dates and goals to these metrics, they transform into your KPIs.

Enhanced intelligence through online operations

Adopting an online platform with cloud technology such as Qoblex ensures centralized and current data, reducing errors linked to manual data entry. Going online simplifies result tracking and minimizes manual calculations when assessing KPIs.

How a B2B eCommerce platform benefits your customers

You might be concerned about how your customers will respond to an invitation to a B2B platform. You may wonder, “What happens when they’re asked to do something differently? Can they adapt?”

Shifting to online wholesaling empowers your customers by putting them in control of the ordering process. They can access it at their convenience, without restrictions on time zones, weekends, or holidays, making the ordering process more straightforward.

The days of tedious back-and-forth via phone, fax, or email, with manual stock checks and quote processes, are gone. With our B2B eCommerce store, your invited customers can log in, browse new products, review their entire order history, or reorder items with ease.

In essence, you can transform the wholesale ordering process for your customers, making it as simple, convenient, and enjoyable as online shopping. Who wouldn’t appreciate that? So, why wait? If you desire time savings and customer empowerment, it’s time to take online wholesaling seriously. Start a free trial with Qoblex today!

B2B eCommerce is the future

Globally, B2B eCommerce is projected to grow by 20% until 2030, as more businesses embrace this modern wholesale selling method.

Customers now expect the same speed and simplicity in their wholesale buying as they experience in retail. This convenience is no longer just an option but a necessity. They are actively searching for suppliers online, so it’s crucial to establish your online presence.

The trend in B2B sales is shifting towards websites and mobile apps, streamlining the entire process. Going online is not just the future; it’s already happening. As the world becomes more connected, business operations are becoming faster, easier, and more efficient. It’s only natural for wholesale to follow this trend.

Wondering what a successful B2B website looks like? Check out businesses excelling in online wholesale. B2B eCommerce is not just a passing trend; it’s becoming the standard way of doing business. Is your business ready to adapt? If you’re considering exploring online wholesaling, Qoblex’s B2B eCommerce store is an excellent starting point!

About Qoblex

Since 2016, Qoblex has been the trusted online platform for small and medium-sized enterprises (SMEs), offering tailored solutions to simplify the operational challenges of growing businesses. Specifically designed for B2B wholesalers, distributors, and eCommerce ventures, our software empowers users to streamline operations from production to fulfillment, allowing them to concentrate on business growth. Qoblex efficiently manages inventory and order data across multiple sales channels including Shopify and WooCommerce, integrates with popular accounting systems such as Xero and QuickBooks, warehouses, and fulfillment systems, and boasts a robust B2B eCommerce platform. With a diverse global team, Qoblex serves a customer base in over 40 countries, making it a reliable partner for businesses worldwide.