Do you know adobe commerce, powered by Magento, helps B2B sellers compete and win online?
Are you aware that you need to offer more than a cut and paste B2B purchasing experience to succeed in this increasingly digital Marketplace?
If you are not aware of it, then don’t worry! You have come to the right blog!
There is no denying that digital commerce is the future of business-to-business sales. If we talk about the US alone, then the B2B E-commerce market is on track to reach 1.8 trillion dollars by 2023, when it does, it will make up 17% of all the US transactions, and that percentage will also keep rising as the average age of B2B buyers continues to drop. Well, Krowd has helped many companies to achieve their sales target, and your company can be the next as Well!, If we talk about today, then 73% of 10 to 25-year-old employees are helping to decide what product in services their company will buy and are also fast-moving on to more robust decision-making rules.
Buyers also expect a rich digital service environment which is much more complex and costlier to deliver if you are still using open source version one, the open-source one, which almost reached its end of life on June 30, 2020. At that time, security patches ended. The merchant is now solely responsible for maintaining PCI compliance. You avoid this responsibility when you upgrade to Adobe Commerce(Magento). You can quickly add next-generation B2B commerce functionality while spending less to maintain your platform.
The top 10 reasons why B2B sellers should move to Adobe Commerce (Magento)
Adobe Commerce (Magento) has essential B2B functionality
To succeed in this increasingly digital marketplace, you must offer more than a cut and paste B2B purchasing experience. If we talk about B2B, it is more complex than B2C for multiple reasons. Firstly, you typically sell to a smaller group of large and distinctive customers rather than millions of predictable individual consumers. You will need to offer custom pricing and a product catalog for each customer with different purchase arguments. Most buyers only have purchasing authority up to a certain point. Their supervisor must also approve their requisition before it gets submitted, resulting in complex workflows. These features can also help you sell to businesses without maintaining a lot of custom code, and also these features have been tested and vetted in the Marketplace.
Adobe Commerce (Magento) can support your hybrid business model
In today’s era of the tech-savvy world, Business models are changing, adding another layer of complexity. A growing number of B2B businesses also offer direct-to-consumer sales, and a third of US consumers plan to do at least 40% of their shopping from D2C companies in the coming years. This kind of hybrid business model has several benefits, including:
- Gain improved insight into customer product preferences and also purchasing motivation
- Grow additional revenue and especially around peak seasonal shopping periods
- Raise your brand profile within your given Marketplace.
The architecture is modern and secure
Today’s technology is changing so rapidly that businesses must continually modernize to keep pace with what some think. Some people don’t realize that OS1 is built on a ten-year-old technology, meaning it is more vulnerable to breaches than modernized technology solutions. When OS1 security patches, you will need to recertify your PCI-compliant platform to continue accepting credit card transactions. There is no getting around this, as many B2B buyers pay with their company cards rather than cutting checks. You should try to upgrade to Magento, which is built on modern and more secure architecture, and it can also protect your brand’s reputation and keep your site secure.
Adobe Commerce (Magento) plays nicely with Amazon Business
Today, Amazon is the elephant in the room that you must address. In a recent survey conducted by B2B buyers, 72% said that they conduct research on Amazon business, and 55% expect to increase their spending on Amazon next year. In today’s era of modernization, many B2B companies are adding Amazon business as a new sales channel. Managing Amazon sales with your digital commerce sale can also be a little time-consuming; you have to maintain separate sets of product content and imagery, including the special pricing, and you also have to manually integrate your data from Amazon with data from your website. The good news is that Magento lets you manage your commerce website and Amazon sales from a single admin with the free extension Amazon sale. But did you know that the Amazon sales channel does not work with OS1?
Magento works with Amazon sales which lets you efficiently manage your Commerce website and Amazon sales from a single admin.
You can also build an Amazon-like B2B marketplace on Magento
It is important to play nice with Amazon; this is also an excellent time to be active and create your Marketplace. If we talk about today, 87% of B2B buyers regularly shop on B2B marketplaces, and it is expected that by 2023 at least 70% of enterprise Marketplace will serve B2B transactions. When you build a Marketplace, it may be easier than you think, and a growing number of B2B businesses are already taking the initiative. You need specialized software to run your market, please. You also need a high-quality commerce platform equipped to deliver a great user experience that makes it an excellent foundation for a digital marketplace. Such a commerce platform also works seamlessly with various marketplace software packages.
Adobe Commerce delivers High ROI
Upgrading to adobe commerce Magento is an excellent investment. Companies that switch have achieved an average of 165.3% after just three years, and it has the following benefits:
- Conversion rates rise by 16%
- Mobile revenues also increase by 29%
- The average order value increased by 5%
- Content creation costs fell by 61%
- Downtime dropping by 93%
- Side traffic increasing by 25%
Magento works with ERP software
Connecting your ERP solution with your digital commerce platform can also give your customers a better experience while providing you with valuable business intelligence. Magento works with popular ERP systems like Microsoft dynamics; many proven and pre-built ERP connectors are available for Magento; you may have to adjust your pre-built connector, but the required workflow is dramatically less than Creating your customer connect from scratch.
Adobe Commerce delivers a superior mobile experience
The digital commerce for B2B should work as well on mobile as on our desktop. According to a B2B buyers report, 60% of mobile websites played a significant role. In a recent purchase, Magento offers mobile-first design and includes the next generation PWAs studio. PWA provides a flexible, responsive web design with an app-like interface at a high level. They also deliver a rich app-like experience that can access push notifications and mobile features in a web browser.
Magento works with a variety of extensions
Any extension in the Magento marketplace that is compatible only with unsupported versions of Magento open source will automatically be removed. When you upgrade to Magento, its built-in B2B features often mean that you can discontinue any of your current extensions because many more extensions are available for Magento; you can also buy an extension instead of shopping and commissioning a custom development project.
Magento can also scale
Scalability is top of mind for many businesses today. If you are running OS1, you are managing and maintaining your infrastructure and the resources that can be pretty costly and complex simultaneously. Securing monetary servers and network infrastructure maintaining them, you will have to work with multiple vendors and keep track of numerous support contracts and warranties. When you upgrade to Magento, you can take advantage of its many cloud-based benefits, such as:
Quickly ramp up or down based on your desired needs without investing too much in new on-premises hardware.
Results based pricing
You have to pay not by server cores but by gross merchandise volume. How much you sell on the platform mitigates your risk of paying for capacity you don’t use.
The dynamics for B2B e-commerce companies are drastically shifting nowadays, and they are also driven by an anticipated experience like that of B2C through the entire supply change. Many B2B organizations quit early because of the lack of insights on the platform selection. Magento is an exceptional choice for setting up your B2B website. Magento’s adaptable E-Commerce suite leverages the entire Magento portfolio. You can talk to our expert at Krowd to implement Enterprise to build the best B2B ECommerce website for your business. Our cutting image Magento development services cover custom Magento web development for industries from A to Z.
We at Krowd, the best e-commerce development company, have extensive experience building both B2B and B2C e-commerce stores. Share your requirements with us.