B2B ecommerce has ushered in a wave of digital transformation in many industries over the years, and we’re starting to see the B2B marketplace platform emerge at the forefront of this wave. Market analysts IDC recently identified that the B2B marketplace platform is a game-changer for CSPs looking to optimize their operations, expand their reach, and deliver exceptional value to their clients when it comes to B2B ecommerce. So how can the B2B marketplace be leveraged into a broader B2B ecommerce play for CSPs?
Before we look at B2B ecommerce in general, let’s dive into why a B2B marketplace platform is crucial for CSPs today. Customer expectations are undergoing a significant evolution. With connectivity now more crucial than ever, customers demand more from their service providers to ensure they don’t get left behind by emergent technology. In general, the technological landscape is undergoing a revolution, with advanced technologies like cloud, IoT, AI, and edge computing presenting new opportunities for companies. Embracing new technology like 5G, IoT devices and edge computing, businesses can open new revenue streams. But these new technologies can be overwhelming for some.
Put simply, SMBs and enterprises want to be able to buy complex, relevant solutions without having to wade through technical jargon and complexity. The B2B marketplace platform model is crucial for CSPs to become trusted technology partners to their customers, not just product resellers. CSPs must adopt the B2B digital marketplace model to make the B2B ecommerce buying process smoother than ever. And it works both ways. Easier buying for their customers means easier selling for CSPs.
Traditionally, marketplace platforms focused on the digital commerce experience, with lean fulfilment and billing capabilities supporting very simple payment processes and basic commercial models. In the early 2000s, we saw growing adoption of cloud and SaaS solutions as businesses resold more services. From 2020, with the emergence of advanced technologies like 5G, Edge and AI, this evolved into a solutions marketplace where no technology is standalone; the need to integrate solutions is now essential. CSP partnerships exploded from dozens to hundreds to thousands.
This new approach needs a solution that enables partner orchestration and allows CSPs to leverage the network effects of their numerous partnerships. CSPs can meet customer demands for new technology by co-creating solutions with partners and selling them at scale. In this way, the ecosystem is becoming a more dominant force in Communications Service Providers’ future success.
The ecosystems marketplace, where CSPs, their partners and buyers can manage everything in one place across industries, is next on the horizon. In this model, partners can self-onboard and manage and monitor the performance of their own services through the marketplace. CSPs can innovate at speed by co-creating offerings with partners, and match their solutions to specific customer needs.
Our unique B2B digital marketplace covers all of the above requirements in this essential digital transformation for CSPs. Powered by AI, the Beyond Now digital marketplace is designed to bridge the gap between a customer’s world and a CSP’s solution portfolio. Its Product Matchmaker functionality helps customers find the right solution with ease, and its Product Configuration Guide helps customers intuitively order the right solution without having to be tech-savvy. Our Wave AI suite is integrated with our digital platforms, making it simple to gain insights and support the customer at every stage of their lifecycle.
The intuitive digital shopfront and self-serve functionality provide a simple experience for customers to provision, purchase and manage all their business solutions in one place. Our digital marketplace supports the full customer lifecycle, including upsell, upgrade, and change processes. Perhaps most importantly to those CSPs that want to diversify their portfolio and grow, our advanced Partner Orchestration solution means that your partners can also onboard and manage their own services. Allowing CSPs to fully embrace the digital marketplace model and facilitate B2B2X.
So we’ve covered the digital marketplace imperative for CSPs, and how our advanced digital marketplace can support this digital transformation and yield profound benefits for CSPs. But what are the fundamentals of B2B ecommerce that CSPs should also bear in mind? Is B2B ecommerce just the selling and reselling of products and services on demand? B2B marketplace platforms can open new opportunities to connect with customers, and even enable B2B2X models – thus revolutionizing B2B ecommerce immensely. Let’s cover the basics of B2B ecommerce.
B2B ecommerce refers to the online buying and selling of goods and services between businesses. It encompasses a spectrum of transactions, from procurement of raw materials and components to distribution of finished products and services. Unlike Business-to-Consumer (B2C) ecommerce, which targets individual consumers, B2B ecommerce caters to the needs of businesses, facilitating seamless transactions, fostering collaboration, and driving efficiency across complex supply chains. At the heart of B2B ecommerce lies the convergence of technology, data, and relationships, empowering businesses to transcend geographical boundaries, streamline processes, and unlock new growth opportunities.
While B2B and B2C ecommerce share the fundamental concept of online transactions, they diverge in terms of their audience, transaction volume, and buying behaviour.
B2B ecommerce targets businesses, including wholesalers, manufacturers, distributors, and retailers, whereas B2C ecommerce caters to individual consumers. B2B transactions typically involve larger order volumes with higher monetary values compared to B2C transactions, which often comprise numerous small-value transactions. B2B purchasing decisions are often driven by rational considerations such as business need, price, quality, and reliability, whereas B2C purchasing decisions may be influenced by subjective factors, including brand perception, and impulse buying.
B2B ecommerce encompasses various models tailored to meet the diverse needs of businesses and B2B marketplace platforms are at the centre of each:
CSPs stand to gain many benefits from embracing B2B ecommerce as part of their digital transformation strategy. Taking our Digital Business Platform as an example – a SaaS-based solution that enables the co-creation and co-selling of solutions with partner ecosystems – CSPs are able to diversify their product portfolios rapidly and see benefits by digitizing their end to end selling process. Our digital platforms cover all of the marketplace models that make up B2B ecommerce and more.
With the automation of procurement processes, order fulfilment, and billing, reducing manual intervention and minimizing errors and operational costs, CSPs can enhance their efficiency with our digital marketplace and revolutionize their B2B ecommerce capabilities. Expanded reach is facilitated by B2B ecommerce platforms that transcend geographical barriers, enabling CSPs to reach new markets, attract diverse clientele, and capitalize on global opportunities.
Through seamless online ordering, personalized product recommendations, and self-service portals, empowering CSPs to deliver exceptional customer experiences that foster loyalty and satisfaction, B2B ecommerce also helps CSPs increase their customers’ satisfaction levels.
Taking our Beyond Now Wave AI Suite as another example, which uses AI to carefully monitor customer data, the digital nature of B2B ecommerce enables data-driven insights through analytics, giving a view into customer behaviour, market trends, and product performance. This empowers CSPs to make informed decisions and drive strategic initiatives. Agility and Innovation are also fostered when CSPs embrace digital transformation through B2B ecommerce, allowing them to adapt to market dynamics swiftly, experiment with new offerings, and innovate their business models to stay ahead of the curve.
In the ever-evolving landscape of B2B ecommerce, several trends are shaping the future of the industry. Personalization is becoming increasingly crucial, with customized product recommendations, tailored pricing, and targeted marketing efforts based on customer preferences and behaviour driving engagement and conversion.
AI and Machine Learning are playing a significant role, with the adoption of AI-powered algorithms for demand forecasting, predictive analytics, and dynamic pricing optimization enhancing decision-making and operational efficiency. Subscription Services are also on the rise, with a shift towards subscription-based models for recurring revenue streams, bundled offerings, and value-added services, catering to evolving customer preferences and business needs.
So we’ve talked about B2B ecommerce on the whole, and the B2B marketplace platform, which is the tool at the centre of it all, according to major analysts. The right B2B marketplace platform can help you serve your customers in a meaningful way. Selecting the right B2B marketplace platform is critical for the success of your ecommerce initiative. Consider the following factors when evaluating potential platforms.
Are you looking to extend your portfolio and capitalise on new technology? If so then it’s advisable to choose a platform where you can leverage a partner ecosystem and offer your customers cutting-edge solutions like 5G, Edge, IoT, or AI. Ensure the platform can accommodate your current business needs and scale seamlessly as your business grows. Look for platforms that offer flexibility and customization options to tailor the user experience, branding, and functionality to your specific requirements.
Choose a platform that integrates seamlessly with your existing systems, with Open AIs or payment gateways, to streamline operations and data management. Evaluate the platform provider's support services, training resources, and ongoing maintenance to ensure smooth operation and timely resolution of any issues or concerns.
The Beyond Now B2B digital marketplace helps you reduce the cost of sale, SG&A costs and time to market, by swift onboarding and automation through AI.
To explore how our digital marketplaces have been leveraged in the real world, why not check out the following success stories?
Docomo SME Marketplace: Docomo, a leading Japanese telecommunications provider, were looking for an efficient way to onboard hundreds of partners to their SMB marketplace. Read their story here.
Telekom Deutschland: Telekom Deutschland, a prominent telecommunications company in Germany, partnered with Beyond Now to deploy a comprehensive B2B ecommerce platform, facilitating seamless procurement and collaboration among its business customers. Read their story here.
Embarking on a B2B ecommerce journey requires careful planning and execution. Any business should start by assessing their current B2B strategy, identifying areas for improvement, and setting clear objectives for their B2B ecommerce initiative. Collaboration with stakeholders across the organization is key, including IT, sales, marketing, and customer service, to ensure alignment and support for the company’s B2B ecommerce goals. It’s also advisable to leverage the expertise of technology partners and industry experts to select the right B2B marketplace platform and customize it to meet your unique requirements.
Another crucial step is booking a demo. We encourage you to get in touch with us at Beyond Now, so we can understand your B2B ecommerce strategy and your customers’, partners’, and business needs. We can talk you through how to address those needs through our cutting-edge digital marketplace, as well as show you how to capitalize on new technologies. Book a demo today.
Let us demonstrate how we can help you grow your business with our B2B Digital Marketplace.
