Many B2B electronics distributors are hesitant to launch a B2B eCommerce site, worrying it will disrupt their existing workflows and channels. Yet, their competitors are achieving 5x more revenue and growth by exploring and embracing the eCommerce opportunities.
Further, many electronics distributors are starting to move away from traditional sales and transitioning towards using scalable, customer-centric strategies. What does this mean? It implies that investing in the digitization of supply chains and B2B eCommerce is the primary method for future-proofing B2B electronics sales.
Challenges Facing the Electronics Industry
Undoubtedly, advancements in technology are good for the electronics business. In the digital age, product demand in this niche is on the rise. Nonetheless, increasing demand also drives additional challenges that impact every facet of the supply chain, from suppliers to retailers and product manufacturers.
Why is this Significant?
Scaling your B2B electronics sales business will not come without its fair share of obstacles. Can you manage a complex product assortment? How do you keep up with evolving trends in your product line? Is it possible to optimize inventory management while enhancing consumer accessibility? All of these questions deserve a thoughtful answer. Primarily, one of the best solutions is via B2B eCommerce. We’ll clarify below.
For instance, the right eCommerce platform can provide real-time information to your customers and effectively manage an evolving product catalogue. If you make ongoing changes to your product assortment, it’s certainly difficult to keep up with every single item. One effective option is to integrate your eCommerce platform with your ERP system. As a result, you can ensure your online store is always up to date whenever you modify your pricing, product data, or stock levels.
What are the benefits of eCommerce platforms for B2B electronics sales?
Invariably, the COVID-19 pandemic impacted electronics manufacturers’ supply chains and accelerated a transformation by several years. Like the rest of the market, digital is the primary route for maximizing sales.
According to the IDC, around 87% of B2B companies believe eCommerce is crucial for their digital journey. By migrating to eCommerce, there are multiple benefits, including:
- Improved inventory management and visibility
- Enhanced cost controls
- Straightforward SKU management
- Increased transparency around returns logistics
Keep reading to learn more advantages concerning eCommerce.
Corporate Account Management
Define unique experiences across business units and geographic locations. In addition, manage corporate accounts worldwide from one integrated dashboard.
Access Controls, Roles, & Permissions
Create access roles based on buyer vs. internal employee. Offer the type of access that makes sense for your business.
Multiple Price Lists
Design and manage various price lists based on account type. Include unlimited price points, tiers, and currencies.
Multiple Shopping Lists
Allow buyers to make purchases from multiple shopping lists or to save products for future purchases.
Personalized B2B Catalog Management
Customize your product assortment based on business units, company, and individual buyers. In addition, it is better to display offerings based on specific audiences.
Multiple Organizations, Websites & Stores
Access multi-site management capabilities to control multiple sites across countries, currencies and tax regulations from one console.
Content Management System
Use native CMS capabilities to manage rich product data pages and digital media. Moreover, ensure your customers get the information they need for every purchase.
Segmentation & Custom Reports
Utilize advanced segmentation tools to retrieve data-based and actionable insights. Track KPIs, view customer purchasing patterns and create targeted marketing lists for more effective marketing campaigns.
Flexible Workflow Engine
Use a flexible workflow engine to create a limitless number of custom workflows to support buyer and employee-related processes. Customize your checkout or purchasing process. Further, automate and optimize back-end processes for order fulfilment logistics or sales follow-ups.
Optimize your site for search engines using meta-titles, meta-keywords, URL slugs, meta-descriptions, and more.
Choose an eCommerce platform that comes with a built-in email engine to create free-form emails or use templates. Send messages to customers and prospects instantly, or use the automated feature.
Manage inventory effectively regardless of how many warehouses you have. Automate inventory updates each time a buyer places an order. Access real-time displays tailored to buyers and sales reps. The OroCommerce B2B platform offers the flexibility to integrate with your Warehouse Management Systems, ERP systems, and Product Information Management tools seamlessly.
Grow your business by managing and scheduling discounts, deals, free shipping offers, and coupons. Set up promotions easily.
Use tax engine tools to configure tax rules based on product, product category, individual customers, and customer groups in different jurisdictions.
Quotes & Orders
Digitize your buyer-seller interactions. Facilitate digital quote requests, order placement, and price negotiations while your sales representatives address RFQs or create online purchase orders.
Customer Relationship Management
Access a 360-degree view of your customers at all times with a multi-channel CRM. Further, manage marketing, sales, and customer support engagement.
Why are more B2B electronics retailers choosing eCommerce? Well, in addition to the benefits listed above, it’s all about reaching the market quickly. You can create user-friendly and attractive sites with little effort. It only takes a few clicks to set up your digital store.
In addition, 87% of shoppers now start their searches online. Even if they purchase in a physical store, the majority initiate research online to compare prices, inventory levels, customer reviews, and more.
Further, a B2B eCommerce platform enables your business to hyper-focus on the customer experience. The data you collect from digital visitors and purchases can be used to drive actionable insights to continue innovating and improving your sales and customer experience.
In short, don’t wait to optimize and expand your electronics sales. Embrace eCommerce to ensure your business is future-proofed for the digital market of tomorrow.