Like Retail sector, we do not have the names of Business to Business (B2B) companies at our finger tips. However, this industry is vast. It can also be considered as the backbone of retail industry or at least the prior source of goods since the sale is from manufacturers to wholesalers, or wholesalers to retailers. B2B companies are resorting to internet sales and expanding their reach in e-commerce technology these days. To quote www.b2becommerceworld.com, “Business-to-business executives are getting more bullish on e-commerce technology, with 75% of them expecting to spend more on it next year, Forester Research Inc. says in a recently released study. That’s up from 73% a year earlier who said the same in a prior study.”
Now the purchasing population across categories can be found online. It makes sense for B2B businesses to cater to their customer needs online as well. Top B2B e-commerce software vendors are gearing up for the increasing market demands and supplementary customer services; and finding out ways to build a long lasting manufacturer – customer relationship. The sale is one part of the job, ancillary functions are essential as well.
The Obstacles in the Way
For the B2B companies, the survival will not be the same as it was. So far, most of them took internet for granted until now. Also e-commerce was comparatively immature and is still developing. However, we can say that the pace has considerably increased. Handling Online Traffic is also another issue altogether. The users will increase drastically and the vendors should have the ability to effectively handle them and satisfy their needs. Especially with Demonetization of the higher value currency the Indian buyers would prefer purchasing online without compromising on the quality. There is also the millennial paradigm shift where the expected workforce is expected to increase. The turnover would however also be high.
Result of Online Transactions – Zero Tolerance for Bad Customer Experience
E-commerce is well known for its instant and immediate feedback. The customers online have a zero tolerance for anything promised yet not delivered. In the past we have seen case studies where negative feedback has shut down businesses. The immediate response to customers on their concern is going to be a must for all. Customers need to be given the importance and the kind of treatment they deserve.
A lot of changes are foreseen with the way buying purchasing patterns are evolving. The internet is the world’s greatest gifts to B2B companies. Come 2017, this statement is going to hold more value than ever.