More than 44% people search online before actually purchasing a product, says Retailing today magazine. This is the opportunity for a business to turn customer’s expenditure towards one. On the internet, if a customer finds your product suitable, then chances are likely to that customer would make a purchase. But for that, you have to be on e-commerce platform for sure.
B2B buyers prefer to buy online directly from vendors, with strong product information. In today’s internet world, B2B buyers want to have an easy and personalized shopping experience like the B2C. In a crowded market, if one cannot give this experience to buyers, then business would be shifted to another vendor who provides this experience. Magento B2B e-commerce solution’s main aim is to provide a customized and personalized feel to the buyers and vendors both.
Cross-border e-commerce is now run by Magento B2B e-commerce services.
Online customers in U.S makes most of the cross-border purchase is from UK (49%). For china (39%), Hong Kong (20%), Canada (39%) and Australia (18%).
The Cross Border E-commerce Community (CBEC) has now taken merchants, ISOs, Service providers in one Omni-channel level. When a magento B2B ecommerce solution gives at home experience, then the user would not be limited to the domestic market. Domestic store merchants are given a tough competition by cross-border online merchants. International businessmen are now directly in touch with the end customer and retail vendors. Only here the focus area would be supply-chain management. Once that is handled, your B2B e-commerce reaches international level, too.
Product acceptance in cross-border market needs more defined and rigorous research for a retail product in the foreign country. Also, the demands and issue with local products for the people out there need to be understood. One has to go through the statistics like quality, supply-chain management, satisfaction, cost effectiveness etc. Looking out for the same service competitors like Amazon – Japan in Japan would help in determining the forecast of the business. Also, there is an interesting fact that outside the US, the people love to buy made in U.S.A brands. So targeting such customers is a big challenge.
Researching about Competitors of the particular local market is welcoming idea. Regarding the product or service you are providing, is there any other same competitor? Or this thing is being fulfilled by many competitors in distributed or fragmented manner. Check the dominance or monopoly of the competitors. Identify your place in the crowded market with prominent data. There should not be any hidden laws of protection of market by local competitors.
Many countries welcome the foreign investment and trading in order to create jobs and industries locally. Such countries establish good legislation and foreign policies which can favor your business. In a way, you can be in the first row to take advantage of an upcoming emerging market.
Domestic laws and regulation for taxation, corporates, import-export limitations, and trades have to be well researched before penetrating in the overseas market. Is there any restriction regarding business expansion or skilled labor? The regulatory bodies have to be informed and well aware regarding any insight decision. One has to keep the government bodies in alignment with the business strategies.
Infrastructure is the area to focus because this is the area where local people and providers have to be managed and tackled. In order to exceed in the market, distribution line and capturing resources as well as utilizing them is the challenge. If you succeed in the challenge, then you can compel others to take a step behind.
For overseas market analysis, there are some good online tools and services available. In the U.S., International Trade specialist and Global e-commerce specialist provides counseling services for cross-border B2B e-commerce solutions. Also, International Expansion Blueprint service helps in analyzing trade strategies and best overseas markets for a particular product or a service. Overseas U.S embassies and consulates provide Country specific commercial guide for cross-border e-commerce.
B2B migration from B2C has taken a leap via Magento B2B e-commerce solutions.
Earlier marketers used to make strategies to grab the end customer only. The e-commerce was mainly earning revenues from B2C model. B2B models used to be independent and custom made for the partner companies. Nobody thought of B2B and B2C models under one roof. That means a supplier who is in the retail market can also step in the wholesale market through the same channel.
44% people search in Amazon directly for products and services. Google and the other search engines come later on. If you are a vendor and enrolled with Amazon, then the chances of people coming to your product automatically increases. Similarly, if you want to penetrate in wholesale business and want to reach out to more vendors, then one B2B e-commerce solution will lead to vendors and end customers at the same time.
Magento B2B e-commerce solutions provide an access to create separate customer group in the solution. This customer can be the one who is B2C store customers. A vendor can set specific catalog price rules, payment and shipping options for such group.
For the B2C customer, look and fill with the website, the brands, and quality images are very much important factors whereas for B2B customers -pricing, order management, shipping are important ones. The Store’s USP is in the handling mechanism where both B2B and B2C feels like at home.
Netherlands standards are that VAT is applicable to retail customers and not to wholesale customers. Here territory wise, pricing could vastly differ for B2B and B2C customers. Margins can be decided based on 3 types of pricing – retail price for B2C, the gross purchase price for B2B and special price again for B2B.
A B2B customer would like to reorder or order multiple products. So a system needs to be established for quick access to previous orders and selection of multiple products.
In-house ERP system handles business’ financial and logistic processes. A Magento B2B solution has to be connected to in-house ERP system. A new solution should be able to fetch details like product catalog, prices, clients, stock, customer groups, pricing contracts, orders, and invoices.
Magento marketplace can give you high B2C data and fewer B2B data. B2B customer data means the size of the shop, no of shops, taxations systems, quality standards etc. B2B customer data must be obtained from all the sources and marketing strategies. There must be a different verification process for a vendor login. B2C should not be authorized to log in to vendor portal.
Magento B2B E-commerce solutions have an edge over the other multivendor competitors because of the robust add-on services.
According to Builtwith.com 48,000 websites are added to Magento e-commerce in last one year only. Google trends stated that Magento was searched drastically more times than previous year. The majority of the platforms have realized the significance of the Magento in the e-commerce. Magento systems are mostly English (i.e. 19 out of 20 solutions).
Magento drives the B2B ecommerce with two distinct weapons, those are opportunity and efficiency. Magento provides quick and easy business transaction with automated and integrated systems. Value addition, service improvement, new clients and new sales channels are also part of its strong USP.
B2B Transactional services come in the picture after a perfectly installed Magento system. This service offers ease of navigation and seamless browser experience. Buyers are authorized to order by part of a product code or a number. Buyers can add multiple codes at one time and also search the products according to the codes. Magneto provides a list view of products and that too category wise.
Buyers can priory add their shopping list, get it approved and give the order. Buyers repeat purchase policies are also easy. Buyers can choose the delivery system like ‘nominated delivery’ (calendar picked a date).
Value added service is the focus for Magento for more sales and revenues. Magento’s CMS has rich content and media support. Case studies, testimonials, installation, and training stuff can be integrated into videos and catalogs with the clickable feature. Email newsletters and integration of a blog into website establishes the excellent communication channel. Magento e-commerce solution provides an excellent for buyers to persuade, satisfy and support the customers.
Magento Enterprise Cloud Edition omitted multitenant limitation of e-commerce solutions.
Some e-commerce solutions are so rigid that to innovate and iterate the business rapidly is difficult to achieve. Software at a service (SaaS) commerce solutions provides this ability to merchants. Magento Enterprise Cloud Edition (Magento ECE) offers highly differentiated client experience, integration within in-house place systems and enhancement for the future scope. Magento ECE reduces managing and deploying costs compare to other solutions available in the market.
Magento ECE is for large or medium business, not for small scale business. It requires a good amount of business development and for that, a developer needs to be hired. It doesn’t require admin for a system because everything is fully automated. It can have 8 active environments but it can add multiple inactive environments, too. If inactive environments are not added to Cloud Git Repository, then they won’t be counted as active environments.
Magento ECE is full-fledged web-hosted service. Everything happens online only so a customer doesn’t have to worry about hardware and software requirement for the establishment. All you need is nice computer and good internet. Magento ECE’s scalability and flexibility make it competitive rich.it can handle a large quantity of traffic. It uses Magento Apache caching system which speedily loads pages. Brainvire, the parent company of Ecomextension, has successfully developed more than 100 customized Magento ecommerce solutions for various clients.
Last words,
E-commerce should always keep in mind that clients are also on the job and working somewhere. So they always expect quick, seamless and cost effective platform. Client’s expectations aspire business to take the risk for the expansion and enhancement of the business. Magento B2B e-commerce solutions minimize this risk with strong product management, easy order management, accessible invoice, and robust SEO.
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