eCommerce in B2B textile is the new trend as reported by the Grand View Research, which predicts that the B2B online commerce’s revenue is expected to cross $20 trillion by 2027. Since online channels, like TEXchange, provide personalized experience and instant access, B2B cotton buyers prefer eCommerce over the traditional trading process. Several factors contribute to this digital change, including sales automation, international reach, finding new suppliers online, closing deals within a day, direct communication, online order placement and repeat order with a few clicks of buttons, and transparency. However, to grow online, top textile companies in India and abroad must adapt to digital changes and tackle organizational and managerial issues. However, the increased ROI, financial gains, and process automation overcome the challenges faced by textile companies while moving from the traditional process to the digital channel.
We have mentioned 3 ways to make your transition smooth and effective while improving ROI.
Don’t Forget Your Old Customers
You are here because of your gold customers, i.e., your existing customers. They are royal retainers who may not appreciate your transition but would love to explore if treated tactically. You can expect them to generate more sales by providing them incremental value. Also, it is 100% cheaper to retain old customers than acquiring new customers. For instance, you can slowly pull them into your transition phase with suitable rewards, early-registration discounts, best prices, personalized product recommendations, direct communication, easy checkout, and a lot more.
Online commerce can be a powerful weapon that can be leveraged to provide the best experience to your old customers. You can also introduce customer loyalty programs to establish long-term relationships.
Make Returns Weight More than the Cost
B2B buyers have significantly raised their expectations on par with B2C online marketplaces like Amazon in terms of order fulfillment and delivery. Online transactions, multiple payment options, shipment tracking, and doing things at the click of a button are driving the demands. And if you believe this change would overwhelm you, here’s something you must know: the online business process not only fulfills the challenging needs of the buyers but also enables the suppliers to boost profits and keep the costs low.
Prime example: B2B cotton buyers don’t negotiate prices in online purchases as they are ready to pay more for the speed and convenience. They will purchase at the total price without any arguments, which would translate into an improved bottom line for textile companies in India. This also reduces operational costs as you needn’t invest in recruiting and training sales staff.
Respond to Efficiency Positively
Traditional B2B companies worry that the transition to online commerce will affect the jobs of their sales reps. However, it is a misconception that you must let go of your sales team. In fact, automation benefits staff by improving their productivity. You’d still need your sales team and customer support staff to operate the eCommerce platform. Yet, there would be fewer errors, improved productivity, more order placements, and better control over the process. Work reduction will allow sales reps to focus on adding service value and nurturing customer-business relationships.
Customer support teams can use their free time to develop strategies for increasing retention and come up with new solutions rather than spend time on repetitive tasks like tracking orders, checking quantity, etc.
With real-time statuses and minute details, advanced tools can provide valuable insights into the business that lead to growth and let a textile company in India win.
Ecommerce is the most significant development in the B2B textile landscape, and TEXchange reimagines how we do our businesses. With endless international opportunities, it reinvents brands in the modern light. If you want to experience this change and wish for more personal communication, talk to our textile trading consultant at DMI.
