How To Choose the Best B2B Ecommerce Platform by Department
27 November 2023What makes the best B2B ecommerce platform? The answer varies depending on who you ask. The landscape of B2B ecommerce is rapidly expanding, with a majority of companies planning to launch their own ecommerce websites within the next two years. Projections indicate that by 2027, 24% of all U.S. B2B commerce sales will be digital, a significant jump from the 16% recorded in 2021.
For CEOs, IT professionals, Finance experts, Sales teams, and marketers navigating this dynamic landscape, the question isn’t whether to embrace this shift but when. Each industry and business has unique needs, and the decision-makers within a B2B organization, harbor distinct ecommerce requirements.
In this blog, we will delve into the essential features of the best B2B ecommerce platform, tailored to meet the specific demands the following department:
Does the Best B2B Ecommerce Platform Fit Every Need?
CEO
The CEO’s primary goal is the company’s growth, involving expanding top and bottom lines for optimal revenue and profit. Simultaneously, the CEO aims to enhance operational efficiency, striving to boost productivity while minimizing costs.
While adept at managing risks, CEOs actively embrace strategic risks for a competitive edge in new technology. Recognizing the growth potential of ecommerce, CEOs await a solution that maximizes ROI and provides sustainable, long-term advantages.
According to CEOs, the ideal solution is the best B2B ecommerce platform—an all-encompassing solution addressing marketing, accounting, and technological needs. Emphasizing security, stability, flexibility, and scalability, CEOs seek a platform that seamlessly expands with the company’s growth.
Marketing
Marketing’s mission in life is to generate qualified leads and enhance web store conversions, especially for B2C companies. In practical terms, this involves continuous optimization of the customer experience through the analysis of customer behavior using tools like Google Analytics.
In an ideal setting, every element of the web store, particularly the conversion funnel, is finely tuned based on data. Marketing needs the agility to promptly update the website as data evolves.
The perfect solution for marketing demands a robust and user-friendly Content Management System (CMS) that non-technical personnel can navigate independently. Key features include seamless integration with Google Analytics and built-in SEO tools. A dynamic multimedia product catalog with images, videos, descriptions, and specs is essential for attracting and converting new leads.
This comprehensive solution includes essential marketing tools like cross-sell and upsell capabilities, personalized coupons, web promotions, and gift cards. Quick and easy access to pricing, quotes, and real-time product availability is crucial. An optimized conversion funnel, ideally with a one-page checkout, holds the potential to significantly reduce the cart abandonment rate, making it the best B2B ecommerce platform for marketing success.
IT
IT oversees the company’s technical infrastructure. Their goal is to measurably increase the efficiency of operations and the influx of revenue. They maintain the integrity of the company’s various systems while integrating them for optimal synergy.
System and data security are of paramount importance to IT. Stability is equally vital since IT is responsible for keeping the web site up and running smoothly. To the greatest extent possible, IT seeks to leverage existing technology investments as part of a unified system.
ERP-integrated ecommerce will always be the first choice of a CIO or CTO. Comprehensive business data shared in real time between the ERP and web store prevent “siloed” product and price information.
Automating key business processes like order fulfilment and invoicing accelerate turnaround while eliminating human error. IT departments look for PCI-Certified solutions to guarantee data security. For stability and infrastructural scalability, they prefer a cloud-based Software as a Service (SaaS) platform.
Finance
Finance optimizes the order-to-cash process. Much like the CEO, they look to lower operational costs and increase overall productivity. Their aim is to minimize or even eliminate expensive mistakes such as order, pricing, and inventory errors. They also ensure accuracy of the negotiated customer level online. ROI assessment and calculation tools are important to understanding long-term cost and value to the company.
To do all this, Finance needs access to full, up-to-date business data at all times. This includes comprehensive order, invoice, and customer information.
Finance and IT have a lot in common when it comes to their ecommerce requirements. Both look for an ERP-integrated solution that unifies business data and ensures accuracy. Finance especially looks for pricing and order integration. They also want the security of a PCI Certified solution. Configuring different levels of user access to the website’s back end is another important security element. Powerful self-service account features give customers and staff alike easy access to all relevant data. Dashboards for detailed reporting and order information are key.
Sales
Closely allied with Marketing, Sales aims to find and close new opportunities as quickly as possible. They have revenue quotas that they need to attain and, ideally, exceed.
However, the self-service ecommerce paradigm coupled with the sheer volume of choice facing consumers has shifted the sales rep’s goals. Rather than a focus on closing, Sales in ecommerce often functions as a customer guide in choosing a product.
To do this, they need quick access to tools and content that help them support the buyer’s journey. Sales and product information siloed across multiple systems presents a major challenge.
Like everyone else, Sales benefits from an ERP-integrated solution that unifies all data in a single place. The merchandising features of a dynamic product catalog make it easy for Sales to highlight key product features to potential customers. Live chat gives Sales a direct line of communication to on-site shoppers with questions. A sales portal allows reps to place orders even when they’re on the road. On the flip side, customer self-service account options meet most post-sale service needs (such as order updates).
Final thoughts: Selecting the Best B2B Ecommerce Platform by Department
As we’ve explored the needs of different departments—CEOs, Marketing, IT, Finance, and Sales—we’ve pinpointed what makes the perfect B2B ecommerce platform. Here’s a quick snapshot:
- CEOs want an all-in-one platform that’s secure, scalable, and flexible.
- Marketing needs a user-friendly tool integrated with Google Analytics and essential marketing features.
- IT prioritizes security, system integration, and efficiency through ERP solutions.
- Finance looks for precision, efficiency, and PCI Certification for data security.
- Sales navigates self-service ecommerce with dynamic catalogs, live chat, and sales portals.
In the ever-changing world of B2B ecommerce, the best platform not only fits each department’s needs but also seamlessly brings them together for overall business success. As companies plan their ecommerce journey, choosing the right B2B ecommerce platform is key to driving growth and success.