E commerce platforms have brought multi- sized companies on the same page with a diverse range of products for the customers under one roof and equal opportunities to grow their business by 2020 India’s GDP is expected to reach $3 trillion, in which $64 billion would be the contribution from the e-commerce market.
Large entrepreneurs have started pouring in resources to leverage it as India is set to be the next big market for B2B e-commerce. India has allowed 100% FDI for B2B business which will encourage interested business owners to establish B2B business in India without paying for investment cost. To reach to as many customers, it’s important to increase user penetration. App based solutions has been driven to meet and fulfill the demands. With the increase in the use of mobile phones and global digitalization the users can promote their products in the market within a short period and unrecognized brands will be able to sell their products due to high demand.
E-commerce business let its user advertise and sell their products beyond their geographical limitations with added benefit of uninterrupted customer service. Supplier gets in direct contact with the customer as there is automated customer data collection in the system. When a merchant’s product is supplied to different stores, the timely delivery is a task since it’s difficult to maintain the inventory level .E commerce is a common platform with advanced technology enabling a planned and efficient inventory check.
A major part of the company’s investment is towards market research and product promotion. Customer feedback and market feedback is crucial for a new venture or an existing product in the market, which is to a larger extent easy and handy with e commerce.By bringing more supply chain manufacturing companies online and building an organized indirect purchase across India, B2B e commerce market can mature faster.
To persuade your buyers to make purchase decisions and to periodically canvas your brand story, focusing on content driven campaigns is essential to drive more conversions. By providing proper guidance to the buyers proactively to minimize the purchase regret, targeting B2B buyers regardless of their designation, designing an e – commerce website which can give adequate details about the problem solving feature of your products, making email marketing and social media marketing an effective tool for B2B business, investing in this sector will definitely be a game changer for entrepreneurs.
