B2B (business to business) is a type of business transaction that takes place between two businesses. For example, a manufacturing company might sell its products to a wholesaler company, which would then sell the products to retailers or vendors. Nowadays, we are crazy about ordering things sitting at home, even today B2B businesses play a big role in building the economy of any country in the world. Although sometimes it's harder to understand the process of B2B than B2C, in the next few minutes you are well off to understand B2B in Salesforce. Let's get started.
Characteristics of B2B
It has a unique identity, because of its robust and complex process. Below are some important attributes that must be considered :
In B2B, orders are often very large in terms of their size and also have an enormous amount of money that is involved in it.
Its ordering involves some tricky aspects such as negotiated pricing between one business and another business.
The customer base of B2B is often repetitive. That's why it has very few customers.
It happens in a stable location and is deeply potent in similar spots.
Before ordering, B2B customers do high-quality brainstorming about the product and make decisions very carefully.
Its marketing cost is often very high per customer and for the sake of its business, B2B businesses try to maintain long-term relationships with their potential customers.
In B2B, businesses focus more on personal selling, and it has very rigid product criteria.
These facets of B2B businesses show that it's a contradiction to B2C businesses.
How does B2B work with Salesforce Commerce Cloud?
In this digital age where every business is moving from physical stores to online stores, B2B also did the same thing.
When B2B businesses come online, there is a fantastic option for working with Salesforce Commerce Cloud (which is an e-commerce platform, a combination of Demandware and Cloud-Craze).
Demandware (for B2C commerce) and Cloud-Craze (for B2B commerce) were the companies that were acquired by Salesforce in 2016 & 2018 respectively.
B2B in Salesforce Commerce Cloud
Salesforce Commerce Cloud enables B2B businesses to get a smoother infrastructure for their complex process and feed them their significant necessities.
It has many meaningful features that satisfy B2B shoppers and dealers. Some important points that describe how B2B works with Salesforce Commerce Cloud are:
Encourages Self-servicing ordering and reordering:
This feature gives the freedom to buyers that they can place an order and reorder whatever they want without any other person's intervention.
It removes the baggage of the lengthy process that traditional B2B businesses were doing. Unnecessary pressure also declines in ordering & reordering.
Tracks Inventory Management :
In B2B, they store a very large number of stocks and make sure that all products are always there for customers.
That's where Salesforce Commerce Cloud enters and streamlines its stock management and makes more profound inventory.
Optimized Order Management :
Order Management in B2B is one of the important factors to run a successful business. With Salesforce Commerce Cloud, it's just one click away from tracking orders from initial placement to the final delivery.
It seems like B2B buyers and sellers take full control of it and avoid the complexity of order management in B2B businesses.
Clarity of Pricing :
When it's time to price, there is so much noise and negotiation between B2B buyers and sellers. And that's OK because B2B demands it.
But with Salesforce Commerce Cloud, this area of concern is sorted well enough. With this in mind, sellers can modify pricing or discounts and define the pricing for different types of buyers.
Reporting & Analytics:
In B2B, transactions happen in bulk, and that's why it requires a solid foundation for reporting.
Sellers always keep an eye on the critical analysis of the products and services.
With the help of Salesforce Commerce Cloud, tracking sales performance and creating well-organized reports become very easy and available for sellers.
How to Implement Salesforce Commerce Cloud in B2B?
Yes, we talked about B2B, Salesforce Commerce Cloud, and how it functions with Salesforce Commerce Cloud; but all these things are incomplete without the process of implementation.
So here we are going to discuss some basic information about implementation.
Create an online B2B store
The very first thing is that you make an online store that represents your online storefront where buyers can begin to place an order.
You also need to create an account on the Salesforce Commerce Cloud by visiting their website.
Shaping the B2B store settings
This includes all important things that are used in the initial stage such as inventory management, pricing, and order management.
You also need to visit Salesforce.org. and get the required approvals to enable the commerce cloud feature.
Create buyer profiles.
It is the best way to track your buyer preferences and their activities. This is the reason for creating a buyer profile.
Integrate with your CRM system.
As everyone knows it's a #No.1CRM in the world. With this integration, you get a broader perspective of your potential clients.
It helps to adjust data between Salesforce and your B2B store.
There are a lot of things that you have to do in order to set up a B2B store with Salesforce Commerce Cloud.
What above-mentioned is only for your basic knowledge and understanding of the whole thing.
Sometimes it feels very complex to set up a B2B store with Salesforce, but after its completion, this is all worth it.
After discussing What is B2B to set up an online store with Salesforce Commerce Cloud we've come a long way. Now we hope you are able to see the relationship between B2B and Salesforce. You are very well aware of this phenomenal chemistry between these two. Consider this article as a stepping stone toward your knowledge and experience.
If we made a mistake anywhere in the article feel free to correct it and contact us. We hope this helps many people to gain exposure to some tech-savvy knowledge and bring value to them.