Like the global economy, the business world is on a roller-coaster ride of constant change and transformation with eCommerce development faster than most. As a matter of fact, Gartner predicted that by 2025, more than 85% B2B transactions would be through digital channels.
If you’re a B2B services provider, it’s important to determine and make sure your eCommerce store has the support of a powerful, fully secure and stable platform. Magento B2B features offer a complete and lucrative solution, covering both B2B and B2C customers.
The details below focuses on Magento features and how B2B companies can leverage these to their advantage. But, let us first know the basic difference between B2B and B2C business models for a better understanding.
Difference Between B2B & B2C
In the world of eCommerce, B2B and B2C transactions occur which also defines the business model.
B2B
Also known as business-to-business, the transactions or services take place only between buyers and sellers in the corporate sector. As a Magento development company, you can offer the following to your customers:
- A more streamlined and transparent buying process
- A reliable and trustworthy partnership with a service company based on the futuristic platform
- On-time response from vendors
- Content and services are more personalized
B2C
In the business-to-consumer or business-to-customer model, transactions occur between the services company or retailer and direct consumer. This can be a customer or buyer searching for products, share the shipping method with payment preferences that can be direct transfer, cash on delivery, wire transfer etc.
The table below shows the key differences between both B2B and B2C however, dynamic features of Magento 2 covers almost all.
| B2B | B2C |
| Various cost tiers for different customers based on tailored services | All customers get the same price model |
| Bulk products purchased or services availed on regular or contractual basis | Products and/or services are bought as singular items |
| Market coverage is small and niche-based | Large market share and coverage |
| Fosters long-term relation or contract between buyers and sellers | Short-term contract or relationship that typically closes once the service/product has been availed |
| Long-term trade cycle (buy and sell) | Trade cycle is shorter |
Magento Open Source: How Worthy it is for B2B?
With B2B transactions, a powerful, reliable and efficient eCommerce solution is a definite must. Magento 2 B2B features can have your business covered with amazing room for future expansion, integration of add-ons to beef-up your store and offer new features with exceptional user experience.
Magento Commerce & Magento Open Source
Deciding between Magento Open Source and Commerce is important that must be considered especially in the B2B model.
Magento Open Source
As the name suggests, Magento Open Source is simply free access to source code that lets you develop a powerful, robust website. You can modify the website with amazing features tailored to your store offering.
Magento eCommerce
Also known as (Adobe Commerce), the Magento B2B features are simply an upgrade over the Open Source with considerable benefits. Some of the most notable features include adding more B2B functions and extensions to the store, offer more personalized, secure and managed hosting.
Are B2B Features Supported in Magento Open Source?
With so many Magento 2 features, the ability to integrate extensions can power up the Open Source model to serve B2B in many ways. Of the many extensions, the Private Catalog enables custom payment and shipping based on individual customer’s address and product category. Then there’s also BSSCommerce for quick ordering of bulk products with a powerful support and uncompromised monitoring of multiple warehouses.
Now that we’ve developed an understanding of B2B and B2C with Magento features for each, let’s move on to the initial idea that was;
Unique Features of Magento Commerce B2B
- Dynamic Distribution of Content based on Customer Segmentation
For any online business or digital solutions provider to stand out from the competition, personalized services and tailored experiences are the key to winning. Magento B2B features for eCommerce can segment businesses and consumers based on their unique needs, allowing dynamic distribution of content accordingly. This can include (but not limited to) customer buying behavior, purchase history, online activity and more. Likewise, a B2B eCommerce business can segment its customers or buyers based on broader marketing perspectives such as pricing rules for shopping carts, deals and promotions that are targeted for specific users or corporations.
- Self-Management of Corporate Accounts
Magento 2 (Adobe Commerce) has introduced a self-service feature that allows Magento development companies to permit users with accessibility to the B2B website section. A buyer can access all the B2B platforms, avail agreed discounts and also submit their purchase orders. It all results in a faster, smoother and transparent process.
- Custom Pricing Through Catalog Sharing
eCommerce is all about customization especially if your store’s core strength is offering special deals and discounts to enterprises. With so many amazing Magento 2 B2B features, Shared Catalog Creation also enables custom product pricing, catalog permissions, search and public display for every website visitor. Once a custom discount has been created for particular consumers, they can access a standard discount rate which is unique for everyone.
- Set a Minimum Order Amount
For online transactions, Magento lets you set a minimum order amount or purchase volume allowing eCommerce companies to sell out a certain amount based on container or in bulk. As a result, average revenue per user is optimized at best whereas this particular Magento feature supports customization of quantity, shipping address, exclude products and let you manage revenue and volumes.
- Fast Order Processing to Streamline Checkout
B2B eCommerce sales experience a boost whereas the process itself gets more transparent and streamlined. With Magento’s Quick Order feature, your store harnesses the ability to streamline the entire purchasing process, allowing searches based on product name, SKU number, less time on endless browsing through product list and more. Wholesale customers are at advantage with this particular feature as they get a more improved user experience.
- Personalized Credit Limits
Maximizing digital payment channels is one of the many Magento 2 features that serves the core needs of B2B customers. The ‘Payment on Account’ option allows users to pay through their credit balance as well as clearly tells the outstanding balance. Magento Commerce balances the equation impressively by offering your customers flexibility and maintaining control over credit limits that are responsive based on different roles.
- Smart Inventory Management
Being adaptable to constant change and enhancing your B2B store outcome can be done by streamlining supply chain of the sales. Magento 2 B2B features an amazing inventory management system that caters to real-time data to distributors, allowing owners to keep updated on the stock flow over multiple channels and locations.
- Quoting System for Price Negotiation
Buyers and sellers can negotiate pricing models through Magento B2B Quote whereas the sales representative can quote and share with a “ready to order” customer. Experience faster and simpler negotiations, also set up quote expiration and additional requests through a single platform.
- Custom Cart Development
You can help clients with their purchases and orders through the Seller-Assisted Shopping module in Magento. A sales representative can easily create a custom cart by logging to the buyer’s portal and send it further for approval. This secures the sales while boosting customer loyalty through smart management of the shopping carts for registered users and order updates. Experience a more tailored approach to assist buyers, save your valuable time and create a window for your customers to come back for more.
- Deeper, More Relevant Data Visualization
Magento B2B features a power dashboard and data analytics system for companies to keep a track on their performance and make wise decisions. The platform provides a detailed and accurate statistics report that users can consolidate through smart visualization. The report includes advanced business intelligence details like retention rates of clients/customers, overall lifecycle and maturity of a client/customer overtime, average order value and many other potential details are covered.
- Technical Support
Magento Support Companies have a team of experts to assist you in keeping your store fully functional at all times. Your online B2B store will pass through rigorous technical runs and quality assurance procedures for exceptional experience, every time. Possible errors and solutions cover server overload, issues in the shopping cart, error messages and various others.
- Integration of Multiple Brands, Channel Partners and Key Accounts
Whether B2B or B2C, an eCommerce platform’s success depends on it being self-sufficient and scalable. You can offer your customers a consistent brand experience with Magento B2B features, assisting buyers searching for multiple products, brands and from different geographic locations. Set up a multi-tier of buyers and assign particular roles, permissions, manage their accounts and check out the history of all the orders in a hassle-free and effortless manner.
Ready for Magento 2 for B2B?
With so many eCommerce platforms, Magento 2 features simply cut the competition by offering high-end options to put your B2B store on the front of the news and top of the search results. Let your store offer simplistic, intuitive and flexible solutions that are sure to take your sales sky-high.
