Category Archives: Business Practices

Importance of B2B E-commerce for Small Businesses

There are many types of e-commerce classifications but the most common one is the business to business e-commerce also known as the B2B e-commerce.

E-Commerce is the ability to sell services or products online, and it has revolutionized how the 21st-century consumer shops. We no longer live in the days when one has to walk down to the store and queue in order to make a purchase for their business.

In fact, with more and more people shopping online, it’s important for small businesses to beat the competition and have a for their customers.

business to business e-commerce solution

 

Benefits of a B2B E-commerce Solution

E-commerce can help your small business flourish in very many ways. It is not just enough to have a website.

Adding a web store on your website can help your business in generating leads and revenues as well as connect you with suppliers. Here are a few benefits of having a B2B e-commerce solution.

  • Improved Sales

While business to business e-commerce platform can help boost your company’s sales, it’s not the only way that you can improve the performance of your business.

Selecting the right B2B e-commerce solution such as the FPX CPQ solutions helps you display specific and relevant products for your visitors as well.

  • Lower Costs

Any small business will always want to grow their revenue while lowering their cost. With the right B2B platform, you’ll be able to streamline other processes such as order entry, customer service, and client information.

 

Other Benefits of a B2B E-commerce Platform

  • Lead Generation

Every business – small or big- wants to grow their client base and generate more revenue. A B2B e-commerce platform can help you achieve this easily by strengthening your online presence.

Resellers and potential clients can find you through your catalog pages that can be made public.

  • New Markets

Scalability is always a factor for most small businesses. With a reliable business to business e-commerce platform, you can have your customers in other markets buying from your portal without the need of having a sales team in every market.

  • Data Driven

In the 21st century, data is everything. The right B2B e-commerce platform can be integrated with your ERP software allowing you to automate most processes as well as get great insights into the data that matters most for your team.

 

How Does a B2B E-commerce System Work?

E-Commerce platforms have plenty of benefits, and small businesses should consider incorporating it into their businesses. However, you first need to understand how it works.

In a nutshell, e-commerce is a technology that enables you to sell your products and services online making your website a storefront. E-commerce platforms have all the functionality that you need for your business built in.

These functionalities include payment gateways, delivery, and order tracking among others. It’s time to incorporate an e-commerce system to your website if you already don’t have one.

e-commerce platform for your business

Choosing an E-commerce Platform

 

If you’ve decided to have an e-commerce platform for your business, there are a few factors that you need to consider such as your current digital structure, budget, and cost.

Still, it is advisable to consider a packaged e-commerce solution company like FPX. There are various FPX CPQ solutions for B2B commerce clients that your business can benefit from.

 

What Is and Why You Need a Business Plan

A business plan is crucial in running or starting up a business. Having it improves the survivability of a business by looking up at factors that affect the growth of the organization. Business is a serious matter because it involves money. You can’t just wing it. Starting up or running a business requires the study of the endeavor and knowing how to adapt to the changes that occur through time.

What is a business plan

What Is a Business Plan?

A business plan entails everything about your business. It includes a process to systematically plan out the future of your idea and to ensure its chances of flourishing within the very competitive market. It consists of an executive summary or the general overview of your business.

It’s basically all the other processes clumped together to be just one body. It also includes the business details which explains just what your business is and what it can offer to the market to add value and to whom you are going to sell your products to.

The marketing and sales strategy then would show that you understand your target market and you know just why people would want to buy whatever it is that you want to sell. It also includes how you are going to sell it to them. Using other businesses such as Over The Top SEO will help project your business to the front of the line where your customers will see you.

The business plan also includes management team and personnel planning which explains who your key people are and why it’s them. Nearing the last part is the setup which explains the facilities, management information systems and how your goods will be delivered to your customers. Finally, the financial plan and projection are the digits that show you your standing of where you’re at, where you should be and what you should change to have better results.

Why You Need a Business Plan

A person who’s about to start or who is currently running a business needs a business plan because it’s the study and the planning out of ways and means to improve the business. Without it, a business would likely fail because it would be an endeavor without proper planning. Remember, failing to plan is planning to fail. Get and check the map before heading out into the forest.

Why you need a business planHow Long Should It Be?

There isn’t a required or a fixed length of how a business plan should be. It could be a dozen page long or just a page. What matters is that it includes all the aspects that is crucial to preparing and developing the business model. Business plan templates are available online and they may help you create your own so you can have a guide than just winging it.
A business plan allows you to plan everything ahead even before a business has begun its operation to ensure its effectiveness and profitability in the market. Your business needs to be a calculated risk and not just a sheer gamble. If you plan on starting up a business, make sure to create and write down a business plan. Win it, don’t just wing it.