5 Tools to Unleash the Power of Magento Commerce B2B
The modern-day B2B eCommerce market is focused on delivering the personalized shopping experience of the B2C market while maintaining a high level of functionality and logistical complexity on the back end. To meet these requirements and optimize your eCommerce, you need a powerful platform that can support a consistent, customizable front end and an organized and easily managed backend. Magento Commerce B2B is the perfect solution for all B2B needs as it supports both B2B and B2C models.
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The primary objectives for any B2B merchant is to minimize costs and maximize revenue while building customer loyalty and influencing customer behavior. To help you with this, we have identified 5 essential out of the box tools you can use to unleash the power of Magento Commerce B2B and upgrade your B2B experience.
To establish that personalized and well-organized customer journey and backend administration, Magento B2B allows the creation and management of company accounts from both the storefront and the admin panel. When enabled, this capability allows users to request to open a company account, which can then be approved from the Admin side. Once approved, the company administrator has all the tools needed to create a company structure of users. This structure implements varying levels of permissions, roles, and access to account and company information. From the admin side, the company grid provides an overview of active company accounts and pending requests to make sure you are always informed.
Shared Catalogs and Custom Pricing
To further the customization of your B2B eCommerce, Shared Catalogs are a Magento B2B feature you need. The Shared Catalog feature enables two types of shared catalogs with different pricing structures independent of the standard master product catalog. These two types of shared catalogs include a “public” catalog and a “custom” catalog. The public catalog will be visible by default from the storefront. A custom catalog is created to be visible to members of specific company accounts of your choosing. With a custom catalog, a merchant can choose which products to include or exclude in the catalog and in search results. Each custom catalog can display a unique fixed or dynamic pricing structure specific to each account.
Be prepared to accommodate the diversity of consumers in a B2B marketplace using the Quotes feature in Magento Commerce B2B. This feature helps B2B merchants to efficiently meet the distinctive requirements of all company accounts that shop your store. The enabled Quotes feature allows authorized users to initiate price negotiations and request prices before purchase. This negotiation process can be initiated from the shopping cart where a customer can submit an RFQ (request for quote) on items in the cart before completing the transaction. All communication between the buyer and the seller is logged and accessible in the Quotes grid and customers can monitor the status of their RFQ or easily contact the merchant via comments and notes. From the Admin point of view, a merchant can modify or reject a quote, calculate possible discount percentages, view total costs, and set quote expiration dates.
Most if not all B2B customers know what they want to buy upon navigating to your website. Customers, both logged in and not can take advantage of the Quick Order feature by entering SKUs manually or using the Quick Order form. To ensure the correct product is found within the catalog, Magento displays the thumbnail image and price for the customer to verify the item before ordering it. Equipped with the product name or SKU, a customer can reduce their order process to just a few clicks, which in turn, can reduce your checkout times and boost conversion rates.
The reordering process is a breeze thanks to the Requisition List feature. A requisition list is composed of products that a B2B customer account purchases frequently. Each of your B2B accounts can create up to 999 requisition lists depending on the existing configuration. Lists can be specific to vendors, buyers, teams, or campaigns based on the customer needs and purchase history. This streamlines the customer journey through the reordering process as customers can add items and orders directly to their cart from these lists without having to navigate, search, or jump from page to page.
But that’s not all! To learn more about the robust capabilities of Magento Commerce B2B, or to dive into the additional extensions available to create a fully customized and comprehensive B2B experience for your brand, schedule some time with our Magento experts today!