How B2B Businesses Are Reinventing Themselves Online
B2B businesses don't have to reinvent the wheel to change their fortunes. Tech companies have done it for them. If your business is currently experiencing more troughs than peaks, it is a sign that you need to take action. When a company's growth slows in a booming market, the competition quickly increases. This is a dangerous place to be because margins nearly always end up being squeezed.
To remain competitive, you need to be able to grow sales cost-effectively. The easiest – and most lucrative - place to change your fortunes is online. More and more B2B businesses are reinventing themselves on the internet. In fact, ecommerce websites have breathed new life into jaded brands that have become brow-beaten by bold newcomers to the sector.
What powers B2B businesses online?
The number of UK businesses going bust hit a four-year high in 2017. The staggering truth is that one in every 213 firms went into liquidation. Many of those failed because they could not compete with rivals who recognised the power of the web and invested in it. Some will have fallen by the wayside after attempting to grow sales online with an off-the-shelf ecommerce solution that was a poor fit for their business.
Successful B2B businesses use Gemsuite, the cloud-based ecommerce platform developed specifically for the business to business market. It helps established brands connect with existing and new customers in a fresh, engaging way. Not only that, it makes products more visible across multiple channels and improves a business's appeal while reducing costs.
Dani Attard, of Comgem, the developer behind Gemsuite, says:
“What we are seeing is a general shift towards B2B tech, because it understands processes that are far more complex than those seen in B2C. Businesses have failed because they have invested in ecommerce platforms that could not deliver the user experience expected by modern B2B buyers. Because competition will always be a threat in this vibrant sector, Gemsuite utilises smart technology to increase sales, reduce costs and make brands much more competitive.”
Innovation for B2B businesses
Innovation is always at the core of growth. That is why it is important B2B businesses innovate their marketing strategies and look closely at largely untapped online opportunities. Being able to reach a target market has never been easier – with tech designed to hone in on the right buyers and tempt them to make a purchase decision. With rules and permissions geared to even the most complicated processes, Gemsuite simplifies every aspect of the B2B customer journey. It also has the ability to integrate with existing systems, reduce errors and link in with real-time data from suppliers.
If your established B2B brand needs a new direction, selling online could transform its fortunes. For phenomenal online results, find out why Gemsuite has the power to kick-start your sales and help you drive new growth while reducing costs.