Introduction:
Magento has been in 4th position as a B2B leader in the world of e-commerce market. Do you know that famous brands such as Coca-Cola, Nike, Ford, and many more use Magento for running their online store? Over 0.9% of websites across the globe use Magento.
Business Adobe study found that Magento helped many businesses with 29% of revenue growth in 2023. This shows Magento has a constantly growing user base and is loved by most businesses, but keeping customers is what matters most.
HubSpot research says 42% of visitors leave the website due to poor functionalities. If you care about your visitors and business ROI then you must read this blog to know about the top Magento B2B features important to enhance your ecommerce store.
What is Magento B2B commerce?
Magento B2B Commerce is an eCommerce platform specifically designed for business-to-business organizations. It is equipped with functionalities such as bulk ordering, custom pricing, and account management thus facilitating the B2B transactions.
You can provide your customers with an enriching experience because it allows collecting and integrating the various channels of marketing. Hence your business can manage a very large number of products and still stay organized in a very complex environment. It’s suitable for those wholesale businesses that need to move to digital platforms. Also, it is 100% flexible in growing the business and running B2B sales more effectively.
Is Magento Open Source Good for B2B?
Yes, Magento open source is good for small to medium and other B2B businesses. But you must buy a B2B extension for that. As it's an open-source, B2B business can easily customize and personalize the features to offer the buyers the best shopping experience.
Overall, it offers a lot of customization options but it's a community edition. For big enterprise businesses, Magento Commerce is a better choice as it comes with built-in features and reliable pricing options.
Top 14 Magento B2B features
You can make great B2B stores by adding the best Magento Features. This helps users shop from your e-commerce store without hassles.
1. Dynamically Display Content through Customer Segmentation
It's important that content reaches the right audience then only the product and services will sell. Hence you must add a dynamic content display in your e-commerce store. By analyzing your audience and their buying habits, you can show relevant products, promotions, and offers to customers. This way, customers can understand your business better, build trust, and increase the chances of repeat purchases.
2. Company Accounts
B2B business needs multiple users accounts because of different departments and operations. Company account comes by default in Magento commerce. Set up this feature on your company's behalf to set different roles and responsibilities according to the user authorities. This helps to run the business smoothly and control who can access what data.
3. Customized Pricing through Shared Catalog
Customized pricing and a shared catalog offer a more personalized experience by making your buyers understand about price and detailing of the product. You must use this B2B feature to set prices for specific customers, businesses, or companies if you run multiple stores
4. Rule-Based Product Relations
Think of rule-based product relations as your silent sales assistant. It automatically suggests complementary or upgraded products to your customers, saving you time and boosting sales effortlessly. For customers, it’s like having personalized recommendations that enhance their shopping experience.
It’s a win-win—more revenue for your business and a better, hassle-free experience for your customers!
5. Set Minimum Order Amounts
Use the minimum order amount to gain more profit. This way, you can manage every transaction effortlessly. This also helps with taxes and allows you to save on shipping charges if the order is in bulk. This motivates customers to shop in bulk to get more discounts.
6. Quick Order to Streamline the Checkout Process
Indeed, business is increasingly competitive, hence you must have a quick order feature in your store. With the quick order feature, customers can add products either via SKUs or bulk entry, making the checkout process faster. It cuts down on cart abandonment, boosts sales, and amplifies customer satisfaction by making the shopping process easier, especially for repeat buyers.
7. Requisition Lists to Save Time When Reordering
This is similar to Wishlist, it helps your business to see how frequently which product is purchased. Requisition lists give the customers the ability to save their past orders for later use and thus, it becomes easy and fast to reorder. This feature is beneficial for customers who continuously buy the same things by way of cost reduction of modules.
8. Personalized Credit Limits for B2B Buyers
Personalized credit limits are a powerful tool that can grant buyers the ability to make purchases easily and it is also a trust-building feature for the company. It not only helps your enterprise to touch various customer financial positions but also to motivate high purchases.
9. Smart Inventory Management
Smart inventory management is a must to ensure the product is available and stock is maintained as per requirements. It solves the problem of overstocking or understocking and helps customers to get products when they are needed, leading to high satisfaction.
10. Negotiate Prices Through Quoting System
If any of your buyers want to buy products in bulk, the quoting system helps them to bargain and set up the best deals with the quoting system. A quoting system for B2B enterprises helps to make customized rates that fit the terms of the agreements with clients. It is helpful when the value of the order is very high or when the order is very complicated so that the usual prices do not apply.
11. Use Purchase Order as Payment Method
To use purchase orders as a payment method, businesses can do this with customers who prefer this method for budgeting and financial control. From the customer's perspective, it means a less time-consuming way of paying via credit card or through a bank without the need for up-front payments.
12. Use Advanced Analytics
Use analytics tools of data to get clear and understandable sales, customer behavior, and inventory reports. This helps you to understand your business better and work on what's trending.
This can benefit you in decision-making and adjust marketing methods according to the analytics data.
13. Offers Multiple Language Options
Allow multiple language features in your store to reach a wider audience across the globe. This way, you can target specific regions and establish your business locally and globally.
14. Create Custom Carts for Clients
Custom carts cater to individual client needs by saving their preferred items or personalized selections. Some benefits for buyers are that the next purchases will be fast and easy as they will be able to get the products they want quickly.
Why Are Magento B2B Features Your New Best Friend?
B2B features can be your best friend in many ways due to its bunch of business and buyer benefits.
Mobile-friendly
Today most of us shop from mobile because it is handy and easiest. Magento B2B is mobile-optimized and makes your store look and perform great on mobile as well as desktop devices.
Self-service Portals
Self-service portals give customers the freedom to manage, track orders, invoices, and other things from the portal itself. This saves time and business runs effortlessly with minimal interactions.
Versatility
Magento B2B is super flexible and makes it possible for you to change your store to suit specific business requirements, whether they be complex product catalogs or individualized payment options. It allows organizations belonging to multiple sectors and different sizes, to adopt solutions that cater to their needs.
Inventory Management
No more worrying and thinking about stocking out and overstocking. Inventory management helps to ensure the desired product is always available when a customer wants it from the store.
Useful Analytics
It's all about understanding customers better. When you understand the customer better, you know your business better. This helps to meet the changing customer preferences and make strategic business decisions as per trends and needs.
Final Thoughts
So, do you find this blog useful? There are lots of B2B features that suit different business needs. If you are running a Magento store or looking to start a Magento store, then make sure you analyze first and add the relevant features that benefit your customers first.
Because when customers are happy, you will automatically be happy with a profitable business. Consider the above features to make the most out of your Magento stores. Reach out to Commerce Bizz today, if you are in need of the best Magento or Shopify development services.
