B2B eCommerce success playbook for electrical distributors
Out of 14,500 companies in the U.S B2B electrical distribution space, nearly 50% of the revenue goes to the top 50 distributors, making it difficult for the rest.
However, small and mid-sized companies have the advantage that they can leverage – the ability to offer personalized digital experience and unparalleled customer service.
To achieve those, a meticulously planned digital commerce strategy is imperative. Using Magento, B2B electrical distributors can add more to the online experience apart from just buying convenience.
Our eBook discusses some of the niche-specific high-priorities to consider while building a B2B eCommerce website for electrical distributors.
- B2B Trends
- Tools for Efficient Buying
- Marketplace Support
- B2C Support
- Customer Centricity
- Magento’s B2B-centric Features
Preview the first 3 chapters of the book
Challenges Faced by Electrical Distributors
The US Electrical Distribution / Wholesalers industry is evaluated at $155 billion as of the last quarterly update (June 2020) by firstresearch.com. The good news is that the industry is growing. However, there lies a challenge for growing and mid-sized electrical distributors. Nearly 50% of the revenue goes to the top 50 distributors in the US, making it difficult for the rest.
Smaller companies have one advantage, however: the ability to offer specialized products or to offer unparalleled customer service. Here’s where eCommerce chips in. With an eCommerce store in place, you can make it easy for procurers to buy online at their convenience, and there is a lot more space to innovate. Let’s dive in deep.
B2B Requirements for Electrical Distributors
How exactly should you approach an eCommerce site for your customers? What are the requirements? Above all else, a website should make it easier for buyers to place an order, and feel confident that it will be received at their facility at the precise moment it is needed. That buying process is composed of specific steps:
The ability to create and manage accounts - A company may sign a contract with you and register for your site, but new buyers and purchasing agents will come on board or leave the company on a regular basis. Your customers will need the ability to manage their accounts, add new users, set spending levels, and so on. When it comes to managing their accounts, self-service is essential.
Marketplaces are gaining a bigger slice of the electronic components distribution market. Companies that rely on industrial equipment will always be in need of new parts and replacement components, and marketplaces like ‘Amazon Business’ make it easy to search the web, find what they need, and place a single order for everything they need.
You may think of Amazon Business as a consumer-facing site, but it is a major supplier in the automotive, electrical, electronics, and many other sectors.
Marketplaces are also an important tool for introducing your brand to new buyers. New customers may discover you via a Google search that brings them to a marketplace, but once they start doing business with you regularly, you can convert them to your site.
Check out our eBook
The US Electrical distribution market is dominated by the top 50 companies. Small and medium-sized distributors also have the chance to earn their market share. Personalizing digital experience and outstanding customer support are the two key differentiators. This eBook elaborates on how growing electrical distributors can compete with the bigwigs with Magento's B2B-centric features.Download