Is B2b Helpful For Business Growth? The growth of e-commerce, over the years, has also given rise to the concept of business to business or B2B trade. Where business to customer or B2C was considered as the only trade medium earlier, B2B has also been gaining momentum. It is being viewed as a new way of increasing business sales and thus growing the overall business. Electronic media is playing a significant role in improving the B2b. there are many reasons that explain how a b2b is helpful for business growth. Some of these reasons are explained below.
Increased revenue The addition of B2B along with B2C, provides the business a new target group and therefore new sales opportunities. A good way to attract the business customers is to use a B2B Portal with a public catalog and attract new visitors through search engines to the online store. The revenue can be further expanded by using advanced cross-selling und up-selling of related or additionally useful products.
Loyal customers B2B Customers are more loyal than customers from B2C sector. Business customers are committed to a business for long term basis. They act as suppliers and also sign contracts and individual agreements. This means lower acquisition costs and long lasting customer relations for the business. Moreover, a business can ensure customer loyalty even more by offering customized services and products.
Large scale scales Obviously, business dealers purchase goods in higher quantity than usual customers. They place bulk orders for goods. This increases the value of transactions for business and hence there overall revenue and sales.
Increased brand awareness The addition of B2B base, not only increases the customer base, but also increases the brand awareness of the business. The company becomes able to establish its brand in the market faster and more effectively, especially by using a search engine optimized online store.
Apart from the above mentioned reason, one other reason that makes a B2B e-commerce so successful is the fact that the business gets the opportunity to sell its products outside its local region. More customers from different regions mean better growth and revenues for the business. By : www.exportersindia.com