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How E-Commerce Can Boost Manufacturing Business
by Praveen K
20 Jul 2020
E-commerce has grown significantly over the past decade and transcended boundaries to go beyond just digital retail. One such area is the manufacturing sector. The line between B2B and B2C models of business has become blurred with organizations searching for more productivity, convenience, customer satisfaction, and cost-cutting.
It is really important for manufacturers to invest in e-commerce as not doing it might hamper their growth in the future. Here we will look at what the e-commerce landscape looks like for manufacturers.
Ecommerce for manufacturing Industry
For manufacturers, an e-commerce platform means a comfortable online environment where their business partners can carry out transactions. This also means selling directly to customers making the line of B2C and B2B thinner
Already many manufacturing firms have come to realize the advantage of conducting both and according to Statista data, of all the manufacturing purchases, shipments related with e-commerce occupy about half of the business, also the percentage growth of e-commerce among wholesalers is above 187% from 2000 to 2018
This is mainly due to newer generations opting the online experience as compared to Baby boomers and Gen X buyers who are used to making transactions in traditional methods which includes business with suppliers via phone calls or in-person
Advantages of having an e-commerce platform for manufacturers
1. Direct Customer Access
Ecommerce gives the option of directly dealing with customers and more control over customer relationships which gives you an option to improve your products as you will get direct feedback from your customer base.
2. A chance to innovate
You can explore more chances of expanding your business by taking out some of the old ways. You can eliminate the option of “Only bulk orders” giving an opportunity for smaller retailers and direct consumers to buy from you
Ecommerce is based on digital automation and thus provides your business the platform to transcend greater heights
4. More efficiency
It adds more efficiency to your business operations. For example, printing catalogs is a process that takes a toll on your finances and time. It is a repetitive process and quite inefficient which business owners that have not yet shifted to an e-commerce platform have to deal with. When you start using an e-commerce platform this process is completely eliminated as the product listings can be updated in real-time, online.
5. Brand visibility
It increases your brand visibility as you are online and also can influence end-users to buy your product if not directly from you as they will be exposed to your product when they do related searches online
6. Analytical support
Ecommerce solutions provide data related to all your business transactions, making it easier for you to scale your business. There are also tools for analyzing your data provided by good e-commerce platforms
How to utilize e-commerce the right way for your manufacturing business
Train your sales staff to work with your clients in new ways like through chat or email along with traditional methods so that they can close sales and improve your business
3. Catalogs that are personalized
You can make use of client behavioral metrics and preferences to give your clients personalized services. This way you can make the decision making for clients a much easier one as far as their buying preferences are concerned
4. Give good visibility on spare parts
Help clients to find their products or spare parts easily. Ecommerce solutions make it an easier task to connect interconnected products with the feature of tags and links
5. Add configuration tools
Help buyers to configure products online by adding apps and customizations to your e-commerce store. It helps to improve the overall efficiency of your business and also reduces the workload on support staff
To wrap it up
There are enough reasons to launch your own ecommerce store today, as a manufacturer. The decision lies at your hands to make your business available online and tap the E-commerce market for your products.It does not cost much to launch your E-commerce website, but it can provide a lot of insights like understanding customer buying behaviour,Brand visibility etc