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In the past two decades, B2B has emerged as a successful standalone B2B model, followed by the success of e-Commerce empires like Amazon, TradeWheel.com, Alibaba, and DHgate. In just US alone, B2B sales for the year are projected to reach $1 trillion. B2B commerce is still in its initial stage as most businesses are just figuring out the basics of strategy and development. B2B industry is experiencing a steady rise as more businesses are moving online globally with smart strategies.
B2B business model is suitable for every type of business with the help of technological, shipping, and payment advancements. To address the main requirement of the user, we need to understand the behavior of our target audience. The buying process in a B2B transaction involves many key decision-makers, which makes it a rational decision instead of an impulse buying decision. Prices in a B2B model are not uniform; they fluctuate based on customers' order requirements, contract type, freight expense and location. To fulfill the end user's demands, B2B portals need to keep up with the latest trends to stay on top of the wave.
While many B2B businesses are familiar with the benefits of maintaining a striking digital presence, traditional businessmen still insist on working on archaic ways—for instance, transactions over the phone, in-person meetings, or email communication. As the world is going digital, it is essential for businesses to adopt more advanced trading methods. A good B2B platform is well equipped with the latest features that help a brand to gain excellence in the digital world.
We spoke to multiple bulk businesses and asked which features they look for in a B2B portal. If you are a manufacturer looking for a suitable B2B portal, these must-have features as per the industry leaders.
You need to choose a good B2B portal to excel in business. For this, you need a B2B platform that takes every measure to ensure a lasting first impression, seamless experience, and satisfying service to your prospects in the long term. A platform that offers the below-mentioned basic features should be your top priority.
The primary feature of a B2B eCommerce store is a registration form. A user signing up on your platform could either be looking to source products or sell them. By registering with accurate information, a user will enjoy a specified experience focused on its requirement. Asking the right questions from the user will help a B2B platform put together suitable pricing levels, discounts, payment terms, shipping arrangements, and minimum order quantity.
Search bars are the most important feature of a B2B platform. A customer who comes to the site to buy something or looking for buyers for its products mostly uses a search bar to start the process. Customers looking for "sausage case buyers" can simply write it in the search bar and get instant results rather than scrolling through the website.
A good search filter allows the options to filter or filter out specific aspects for the ease of the user. With unique and helpful search options, it will be easy for the user to filter out the most suitable products. For this, the user experience and user interface (UX/UI) of your website need to be easy and enjoyable.
Standard filtering tools include narrowing the selection by specific criteria, such as price, color, location or rating, most purchased products, and recommended products based on a customer’s searches.
Pricing is complex in a B2B e-commerce website and not the same for every order. They have varying pricing models in place for different kinds of orders. The pricing strategy for wholesale fiber optics will be different from the pricing for agricultural products. The pricing differs in range for customers for various reasons like the volume of business you do with them, type of products, frequency of orders, the difference between the geographical location of buyer and seller, and the type of contract. An online marketplace needs feasible functionality that can handle varying pricing models.
The users on B2B platforms operate a minimum order value for some or all of their products. To ensure profitability and manage margins, it is important to have a minimum order quantity. An order that is too small in quantity is not viable to process, especially when it has to be delivered to a location far away. Whether you are looking for wholesale Men's suits or wholesale agricultural products, setting MOQ is essential to ensure sellers' profitability.
A good B2B platform offers sellers to set a threshold for minimum order quantity. This requirement must be right in front of the order page so that the buyer sees this as the first thing and acknowledges this obligation. Platforms like TradeWheel.com will give you an excellent example of setting a minimum order value.
A firm check and balance system should exist over user-sent reports and complaints. All the transactions and conversation regarding an order needs to be saved in case of discrepancy. The B2B platform must allow metrics to rate the suppliers and buyers with ratings to build a relationship of trust for the new buyers and sellers. Needless to say, users should be given a right to flag and report spam and suspicious accounts to the support team, which can be reviewed diligently.
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