The B2B market is constantly evolving. What was once dominated by in-person meetings and over-the-phone orders is quickly becoming more digital. Now more than ever, B2B businesses are looking to order their products in bulk online. With so many platforms, how do you choose the right B2B wholesale platform for your business?
The most challenging decisions are often the first decisions you must make, and choosing the best platform to host your online store is the first tough decision you must make. That is what we will be discussing today. In this article, we will go over the criteria you need to consider when starting your online store and what might be the best platform to start as a small business.
B2B (Wholesale) Vs B2C (Retail) E-Commerce
Before we explore essential factors in selecting an e-commerce platform, let’s address a crucial distinction: wholesale vs retail. Both e-commerce businesses work differently and require different approaches to choosing the right platform.
Target Audience
The primary distinction between B2B and B2C e-commerce lies in their target audiences. B2B focuses on business transactions, where the buyer is often a company looking to buy in bulk for resale. Meanwhile, B2C only has to worry about one customer at a time looking to purchase individual products for their own needs. So, when looking for a platform, B2B businesses must sell where other companies do business. In contrast, B2C businesses need only to ensure their e-commerce platform is easily accessible by the everyday user.
Order Size and Volume
The most significant difference between B2B and B2C is the size of orders. B2B businesses often have to deal with large bulk orders that need to be processed as quickly and efficiently as possible. For B2C, they need to think of much smaller order sizes. Therefore, B2B businesses need a sophisticated platform with features such as bulk ordering capabilities and volume-based pricing discounts.
Pricing Structure
Pricing strategies differ between B2B and B2C. B2B businesses need tiered and volume discount pricing features to attract B2B customers. While these sound simple enough, the platform must handle large orders and personalized discounts for different customers. On the other hand, B2C only has to worry about sales and promotional discounts when needed because customers only buy small amounts that don’t qualify for bulk discounts.
Relationship Management
In B2C, there is only a superficial relationship. The customer buys the product, and the store sells the product. There is no need to have a deeper relationship than that. However, B2B business hinges on having a proper business relationship between the store and the customer. That is why the platform in question needs to have features to help the B2B business to foster and nurture the relationship for a sustained relationship to ensure continued business success.
Decision-Makers
B2C decisions are enough. The customer requires a product, searches for it, finds a store suitable for purchase, and then orders it. There are no extended complexities to the buyer journey. Unfortunately, B2B decision-making is long and complicated and requires multiple steps.
This is primarily because they think of a collective business and must go through various departmental approvals to finalize the decision. So, the e-commerce platform has to ensure effective communication throughout the B2B buyer journey to help the customer decide to purchase the products.
Payment Methods
B2B e-commerce requires flexible payment options to accommodate large transactions. One popular payment method is known as the net 30/60/90 payment term. The customer can pay for the product anytime within the timing window, which is what the number after ‘net’ means. This allows the other business to recoup some costs from selling products and then pay back the wholesale supplier later. The platform in question has to facilitate flexible payment plans so that other businesses are encouraged to do business with a B2B wholesaler.
Choosing The Right B2B Wholesale Platform – X Criteria You Need To Keep In Mind
So, what criteria do you need to consider when choosing a B2B wholesale platform for your e-commerce business? We touched on some of them in the previous section, so let’s take a detailed dive into the criteria you need to consider:
- User-Friendliness
- Customization and Flexibility
- Integration Capabilities
- Bulk Ordering and Volume Pricing
- Payment Flexibility And Net 30/60 Options
- Security and Compliance
- Scalability
- Customer Support
- Analytics and Reporting
- Marketing and SEO Features
Criteria#1 User-Friendliness
Not everyone is tech-savvy enough to code their website from scratch. So, wholesale platforms must have all the necessary features to curate the perfect e-commerce website for your business. To that end, the B2B platform must be user-friendly so store owners can work independently.
A platform with an intuitive interface ensures that users can quickly learn how to navigate and perform necessary tasks, minimizing the learning curve. This is important in a B2B environment, where efficiency is preferred over style. A cluttered or confusing interface can lead to errors, wasted time, and frustration for your team and customers.
Moreover, user-friendliness has to extend to the customers as well. If the platform can make it easier for customers to use, it will help businesses make decisions faster. This means the platform setup needs to make it easier for buyers to find what they need and complete their purchases smoothly.
So as a wholesaler, what user-friendly features do you need to look for? Look for platforms that offer clear menus, straightforward navigation, and helpful features like search filters and bulk order options. User-friendliness isn’t just about aesthetics; it’s about creating an efficient and enjoyable experience for everyone involved.
2. Customization and Flexibility
Every business has unique needs, and a one-size-fits-all approach rarely works in B2B. So, you need that customization and flexibility option for a platform to make your website stand out.
A platform that offers extensive customization options allows you to tailor the system to fit your specific requirements. This could include customizing product listings, creating unique pricing tiers, or setting up specialized customer segmentation tools to better target your customer base.
Flexibility also means being able to adapt to changes as your business grows. Whether you need to add new product categories, integrate with new software, or adjust to market demands, a flexible platform can accommodate these changes without requiring a complete overhaul. This adaptability ensures that your platform remains valuable and efficient, supporting your business through various stages of growth and evolution.
3. Integration Capabilities
B2B businesses often use third-party tools to gather analytics for customer insights. Now, if you are using a platform that does not integrate with your store, you lack the valuable insights needed to help grow your business. So, these criteria are all about a platform’s integration capabilities.
On top of the third-party tools you might be using are ERP (enterprise resource planning), CRM (customer relationship management), and accounting systems. Your chosen platform should seamlessly connect with these to ensure data flows smoothly between systems, reducing the need for manual data entry and minimizing errors. So, when evaluating platforms, prioritize those that offer a wide range of integrations and support for the systems you already use.
4. Bulk Ordering and Volume Pricing
Probably the most significant criteria a B2B wholesale platform needs to fulfill is having bulk ordering and volume pricing features. Since wholesalers get large volume orders, you need to be on a platform that helps make bulk sorting and fulfillment efficient.
These features allow buyers to place large orders efficiently and benefit from cost savings associated with high-volume purchases. A platform that supports bulk ordering should offer streamlined processes, such as the ability to easily upload order lists via CSV files and reorder from past purchases.
Wholesalers need volume pricing to attract customers to buy the product. This pricing strategy incentivizes larger purchases, benefiting both the buyer, who gets a better price, and the seller, who increases their sales volume.
5. Payment Flexibility And Net 30/60 Options
As we have discussed, B2B transactions are pretty unique in e-commerce. Payments are not accepted immediately and instead are delayed to a specific timeline. So, you must look for platforms supporting various payment methods, including credit terms, invoicing, and escrow services. This flexibility allows buyers to choose the payment option that best suits their financial situation, facilitating smoother transactions and fostering better business relationships.
The most used payment flexibility is the net 30 or 60 payment terms. These terms give buyers more time to pay, which can be crucial for managing orders and cash flow, especially for smaller businesses. Platforms that can accommodate these needs not only improve the purchasing experience for your customers but also enhance your ability to attract and retain clients who may require more adaptable payment options.
6. Security and Compliance
Given the sensitive nature of business transactions, security is a top priority when dealing with other businesses. You don’t want your information and data leaking, nor do your customers. So, secure platforms are a must-have criterion when searching for an ideal wholesaler platform.
Your chosen platform must comply with industry standards and regulations, such as GDPR, PCI-DSS, and others relevant to your business. This ensures that your data and customers’ data are protected from breaches and cyber threats. Look for platforms that offer advanced security features, such as SSL encryption, two-factor authentication, and regular security audits. With these, you can secure your and your customers’ data while easing your customers’ anxiety about shopping at your e-commerce store.
7. Scalability
When you start an e-commerce business, an overlooked aspect of business is thinking about scalability. Initially, you want your business to do well, but there will soon come a time when you need to scale up your business to match the increased demands. Therefore, you must choose a platform that can grow with your company.
Scalability ensures that the platform can handle increasing volumes of transactions, users, and data without compromising performance. A scalable platform supports long-term business growth, allowing you to expand your operations seamlessly. So, even if you are starting from a low-cost business idea, ensure that the platform you are on can scale with you. This ensures you don’t have to deal with migration headaches into other platforms and can retain services on the same platform for longer.
8. Customer Support
Not all platforms are without issues. You are bound to run into problems as you are setting up, or a future update might break your website. That is where you must always have access to the platform’s customer support so your website is never down.
Look for platforms that offer 24/7 support and have comprehensive help resources through proper documentation. Strong support can save you time and prevent disruptions in your operations, allowing you to address problems quickly and efficiently. Knowing that help is readily available when needed can provide peace of mind for you and your customers.
Another feature you might not initially consider is having a community around the platform. The community might face issues you face, and through discussions with other B2B store owners, you can solve the problem without customer support. So, also look for a forum where people are discussing unique issues and features so you get the most out of the platform you are on.
9. Analytics and Reporting
Data-driven decision-making is crucial in B2B e-commerce. A platform with analytics and reporting tools can provide valuable insights into sales performance, customer behavior, inventory levels, and other vital metrics. These insights help you develop strategies for sales optimization operations and identify growth opportunities. Combining these analytics with the other integrated tools, you have a comprehensive set of data that you need to help your business prosper.
10. Marketing and SEO Features
In a traditional brick-and-mortar store, your business suffers if customers don’t know where your store is. Most of it you can cover with marketing, but e-commerce needs you to go further for your online store. Search engine optimization, or SEO, is essential for you to traffic customers to your website with the help of e-commerce marketing strategies.
A platform that supports SEO best practices, email marketing, social media integration, and promotional tools can help you reach your target audience and increase visibility. For example, optimizing your product listings for search engines can improve your rankings and drive more organic traffic to your site. You also have email marketing to help decrease the communication gap with your customers. So make sure that the platform provides such SEO features for your store.
Why Shopify Could Be Your Ideal B2B Wholesale Platform As A SMB
Shopify is an e-commerce platform and could be the ideal B2B wholesale platform for your online business to get started. The platform meets all the criteria we have discussed so far. Its user-friendly interface and extensive customization options make it adaptable to various business needs. Shopify also has strong security measures and reliable customer support to ensure a secure and efficient platform for managing wholesale operations, making it an ideal choice for SMBs looking to scale their B2B efforts.
How You Can Streamline Bulk Ordering On Shopify With A Bulk Order App
By far, Shopify’s biggest strength is the Shopify app store. Here, store owners have access to thousands of third-party apps, so you can sell your products how you want. It increases the platform’s user-friendliness and significantly lowers the barrier to customization.
To that, the perfect app for your B2B wholesale business would then be a bulk ordering app. Here is a look at how a bulk order app could transform your wholesale business and help you increase sales:
Here, you can see that this store sells a product with multiple variant options. The custom variant display options allow all product variants to be on the page. This is great for enhancing the B2B customer experience as they can shop all the necessary products and their variant options on one page instead of different pages. They will be more focused on shopping instead of browsing through the other pages on your website.
Above all else, this app’s most prominent feature is minimum order quantity or MOQ restrictions that can be applied to the products. On its own, Shopify does not have a MOQ restriction option on its admin panel. Some wholesale businesses will require MOQs on products to help with various aspects of the company. This app lets you easily set up product restrictions so your customers buy the right amount. Until they fulfill the MOQ, they will not be allowed to add the products to the cart.
An app like this can help manage your bulk orders and make it much simpler for you to manage your inventory and order fulfillment. So your customers get a shopping experience that encourages them to return for repeat purchases, and you have an app that the developers will take care of for you, so you don’t have to work on or worry about it personally. It is the best of both worlds, where you are the ultimate beneficiary.
Bottom Line
Choosing platforms does not need to be difficult when you know what to look for. For the best B2B wholesale platform for your business, the above criteria will help you decide which platform to choose is much more accessible. So whether you are a new business or looking to migrate your existing store to a new platform, I hope this guide will help make that decision much more accessible.
