B2B E-commerce: what it is and how to start                                                                                                                                                                                                                                                                                                   

B2B e-commerce business is growing faster than many know. In 2020, the global B2B ecommerce market size was estimated to be worth $7.35 trillion, this figure is ready to rise with annual growth of 18.7% from 2021 to 2028. Online shopping has become the new normal. This is the prime time to launch a B2B ecommerce and how can you be successful in 2022 with such business? No worries, we're going to answer you what a B2B business is, tips on how to do well. A useful insight and tips in this article for those who are interested in B2B ecommerce websites or promoting a B2B brand on an established marketplace. Let’s go! 

 

What is B2B E-commerce?

The sum up to define B2B is quite straightforward. A business selling its product/services to other businesses. This can be anything, from office supplies to textile yarn. Your business model involves selling services or goods to other companies, whether it is domestic or international level where you are exporting products or services. For example; a textile manufacturer is producing clothes for a company based in Spain, who will then sell those clothes via its own streamlines to end consumers. A B2B buyer is most likely to search goods online and perhaps be using a dedicated B2B ecommerce platform such as: Alibaba. However, there are different types of B2B e-commerce business models out there. 

• Supplier oriented
• Buyer oriented
• Intermediary oriented

 

The most common one out of the three above is the Supplier oriented regarding B2B retail. Businesses will generate interest and online sales when using B2B directory or online marketplace. The marketplace will allow the business to display their product/services as well as showcase the whole business in a virtual way. For example, its own website which tells you about the business and the whole set up of the business, how many people it employs, the warehouse or factory capacity. The sellers will have full control of their pricing strategy and, therefore, they can decide when they will offer discounts or offer special offers to attract new customers. Whereas buyer oriented B2B ecommerce is slightly different and works by promoting a handful of verified sellers to a large number of buyers online. Those buyers will usually have their own website where they sell goods and products. The seller can browse through it to determine whether they would like to work with them. This marketplace is often set up by the buyers in order to find a good source which is reliable when it comes to outsourcing production. Furthermore, intermediary-oriented marketplace involves a matchmaker so to speak. The third party will analyse the needs of the buyer and introduce them with one or more suitable suppliers. The owner of this site will have full control over the information about manufacturers and sellers as well as the buyers.

How B2B E-commerce works?

Are you looking to get started with B2B ecommerce in order to boost your export and grow your business? Then, Lalaaji.com is the perfect platform for you. This is a Pakistan centric marketplace; Sellers from Pakistan will be the spotlight and we are going to connect buyers all over the world with Pakistan. Various businesses who qualify as wholesaler, manufacturer or trader will be eligible to be part of the Lalaaji seller community. Buyers will have the luxury to directly contact sellers and choose from a wide range of products/services. Lalaaji.com also offers:

• Advanced chat facility
• Place order, order tracking
• Website
• Product catalogue
• Marketplace marketing
• Extensive customer service
• Ability to search and filter the search results to find the most suitable supplier
• (soon) safe and secure payment system to facilitate online sales

Visit www.lalaaji.com and see for yourself, a marketplace uplifting Pakistan. Connecting the unconnected with global trade.

Benefits of B2B E-COMMERCE

Since you have reached so far, we are confident that you now know what B2B ecommerce is. We are now breaking down key points which will be beneficial for companies why B2B marketplace such as; Lalaaji.com will help generate leads and increase profitability of businesses.

• Ease of use

B2B platforms must be designed in a way that it is easy to navigate through. This is for sellers as well as the buyers. Both seller/buyer dashboards have a set of features and functions available to be used in order to do well. The platform will save enormous amounts of time when it comes to finding stock and new suppliers, ideally the connectivity with suppliers has become very easy and efficient. 

• Product range

A dedicated B2B ecommerce platform will also offer a much wider range of products than you'll find on general marketplaces such as Amazon or eBay. This is because they are solely focused on facilitating B2B sales and have built up a vast network of suppliers and manufacturers from around the world, who offer products and services specifically catering to businesses.

• Lower cost & fees

B2B transactions typically involve larger order volumes, which means lower transaction costs for both the buyer and the seller. In addition, ecommerce platforms for business customers usually offer discounts on bulk orders, making it even more cost-effective to do business in this way.

• Improved customer experience

Majority of the B2B platforms online will have set up a dedicated customer service team. Any issues that may arise at any time there will always be someone to assist you in order to resolve a matter. This is a good edge when comparing it to a normal marketplace, because users of the marketplace are being nurtured and are given real value when they come in a situation where they are unable to go forward from. Issues with product uploading? No problem, contact support and they will resolve and worse case scenario if it is a technical glitch (common with technology) then they will go the extra mile to upload the product for the seller. Giving a good experience to customers of the marketplace will encourage them using this platform and that will trigger more sales through the platform as well as the trust customers develop with that marketplace is worth gold. 

• Fast, easy and sustainable order placement

Yes! Finally found what you were looking for on the marketplace, but you want to change a few bits? No problem. You can either instant chat with the seller or you can send a message and you can place the order once you approve the final edition of the product and of course you have negotiated the desirable price. Probability of human errors is being reduced as the middlemen’(s) have been excluded; it is the buyer and seller dealing with each other. Through AI the order management is being monitored, sellers will be notified when stock is low, and it will allow sellers to take necessary steps to avoid ‘no stock’. 

• Global presence

Marketplaces will often reach sellers/buyers around the world. Making it easier and accessible for sellers and buyers to drive trade. Often it is difficult for sellers to find buy leads and vice versa it is a struggle for buyers to find the suitable seller.  The platform will take you to all corners of the world. The internet is bringing not only people closer but also businesses closer than ever to boost sales and efficiency. Tapping into new markets, new customers and new trends. Travel the world on platforms like Lalaaji.com from Pakistan to Europe, middle east, Africa or America. 

• Data analytics

The digital world makes it easier to fetch data and information about your company as well as your targeted audience. From logistics to customer history, there is so much to learn from sellers/buyers and that way you can choose to enhance customer experience. You can see what and when your sellers are buying. Buyers can see the professionalism of sellers, how quick they respond to queries and what is the successful ratio of completing an order.

How to start B2B ecommerce?

Vital tips which will be key in order to do well in B2B ecommerce. Before you start promoting your businesses on a marketplace it is important to ask yourself first what services/products you are going to offer and who is your target audience. For example, Pakistani companies are not actively spread on B2B marketplaces, there are only a handful companies who are. Therefore, identify what products will set your company apart, look at your competitors and their pricing strategy. There are also products e.g., tissue paper which are all year round in demand. The reason why you should look at your competitors who offer the same product, why are they going to come to you if it is the same? Well, make sure you give attractive pricing in order to hit a dent in the market and you establish a reputation in that segment. Overpricing your products can cost you dearly, an unknown supplier who is more expensive than an established and digitally well reputed company, can backfire. Although as we mentioned before, always have a margin for yourself, without profitability your company will not be able to survive for a long period. 

Once you have identified the perfect pricing and you are also flexible in negotiations with buyers you can then start promoting your product and services. The purpose of promoting your products is to attract new leads who will visit you and contact you for further information or alteration of existing products. One of the best examples; Alibaba who did very well for Chinese manufacturers by providing an excellent user-friendly platform. Whereas Lalaaji.com is a platform who does the same for Pakistan based companies. 

The presence of Lalaaji.com in Pakistan will take you through a whole verification process. This is important for buyers as well as sellers to maintain the reputation of the platform and avoid fraudulent companies coming aboard. Company profile will be verified, then your product will be verified, then your details will be validated and then it is time for action. Nurture your business and reach thousands of potential customers around the world. 

Are you ready? The new world trade for Pakistani sellers starts at www.lalaaji.com

 

How to achieve success in a marketplace?

• Mobile sales

Millions of people use mobile phones to browse online and yes also on a marketplace. As a seller it is your responsibility to see whether your website/catalogue on the marketplace is looking exceptional on smartphones or tablets. Poor design in the mobile optimisation will start losing interest from customers. Lalaaji.com is a marketplace who is giving the sellers an optimised platform in which you only must maintain the design and quality of your uploads, the rest is taken care regarding mobile optimisation. Again, we remind you to always upload the best quality images. 

• Simplified repeat orders

Through our artificially designed platform, like many other B2B platforms also Lalaaji.com is offering a seamless buying experience. Once you have uploaded a product you have the option to multiply the upload and you can edit images and titles, yet the majority stays the same. Customers who have purchased from you, can repeat the order with just a few clicks as well as that they have the freedom to edit anything they want if it is required. Not just this, we also recommend similar products which a buyer potentially could buy. This seamless process is being offered in order to encourage more and more B2B transactions.

• Personal interactions with buyers

B2B is much more complicated in comparison to B2C. However, with the use of technology marketplaces are advising and giving the freedom to engage with buyers on a more personalised shopping experience. The B2B industry has undergone an immense change, on average 12 online searches are carried out before a B2B transaction takes place. Marketplaces must think for both clients, one is the seller on the platform and one who is the customer of the seller who is the driver of the platform. With AI tools today a more personalised buyer experience can be offered for B2B buyers.

• Online customer service

The pandemic covid-19 has made the people more conscious about using technology which will keep their business running. Research shows that 75% of B2B buyers prefer interaction virtually rather than face to face meeting. This clearly indicates that every company must be online in order to establish a good reputation. Instant messaging to service providers in any case. The marketplace is doing their role with giving services, sellers must do their part too on the marketplace and their digital platforms by giving prompt services to their customers.

• Competitive analysis

Know your customer of course! But also know your competitors. You can carry out analysis in order to identify what competitors are doing better than you. What are they offering, what pricing strategy are they using, how are they approaching their customers, how is their online presence, are they offering special deals and how is their social media activities coming along? Identify your weaknesses and strengths and use that to improve the overall experience you are offering. 

Sell on Lalaaji.com

This platform is revolutionary for Pakistan. The first ever B2B online marketplace who is encouraging SMEs to export their products/services. Similar to what Alibaba did for China, Lalaaji the big brother in trade is doing the same for Pakistani companies. According to TDAP 80% of Pakistani companies have a poor or no online presence. Time to turn this around with Lalaaji.com, register now and get verified, choose your plan and time to rocket your sales.

References: 
1. https://www.bigcommerce.co.uk/articles/B2B-ecommerce/B2B-ecommerce-trends/ 
2.https://www.shopify.com/enterprise/B2B-ecommerce#3 
3.https://simplyvat.com/top-10-trends-in-ecommerce-for-2022/ 
4.https://oroinc.com/B2B-ecommerce/blog/B2B-ecommerce-trends-2022/ 
5.https://www.pureclarity.com/B2B-ecommerce-best-2022-practices