The Readiness Checklist: Is Your Business Ready for B2B eCommerce?

According to reports, 74% of B2B buyers research at least half of their work purchases online, and 42% of B2B distributors generate at least half of their revenue from online commerce.

In addition, Forrester forecasts that in 2023, US B2B eCommerce sales will reach $1.8 trillion, accounting for 17% of all B2B sales in the country.

These numbers make a compelling argument for B2B eCommerce and how it’s increasingly changing how B2B companies do business and try to stay competitive. So, if you’re a brand, distributor, or wholesaler, it’s only normal to consider setting up your digital B2B store and begin selling online. And if you’re wondering if your company is mature enough to leap into the digital world, we’re here to help you clear up any doubts.

We’ve talked to our product and technical support experts and put together a B2B eCommerce checklist to help you determine if your wholesale business is ready to switch to online commerce. Ready or not? You’re about to find out!

The B2B eCommerce readiness checklist

1. Your product list is arranged into categories

Organizing product categories with products inhabiting them is a major sign that your business is ready to go online. Why? Having that clear category structure in place, one that you can distinctly capture in a spreadsheet before adding any products to your B2B eCommerce platform, is a process that makes setting up your digital store fast, easy, and efficient. And, on the business side, well-thought-out product categories cause less friction for online B2B buyers and make the buying experience more intuitive, leading to higher conversion rates and, eventually, increased sales.

2. Your products have a unique SKU number

Assigning unique SKU numbers (i.e., internal product codes) to your products and their variants is an essential step toward starting selling online. SKU numbers allow you to easily differentiate your products, streamline your inventory management, and manage your picklist and warehouse with enhanced efficiency. Eventually, they help you maintain consistency and coherence in your daily operations. What’s more, these codes make life easier for B2B buyers when shopping online, as they can look up your offering using this unique number.

3. You have your products’ media assets organized

Importing product images is one of the most critical but painstaking activities wholesalers must complete when starting their online B2B ordering platform—especially if they have massive catalogs. So, if you already have photos of your products matching the names of their respective SKUs on a spreadsheet uploaded in a media asset cloud service (such as Cloudinary), you’re ready for B2B eCommerce. This process will save you hours and hours of exhaustively uploading images and assigning them to the right product when building your wholesale website.

4. You use an accounting software that can connect with other systems

And, yes, by other systems, we mean a modern B2B eCommerce solution. Accounting and ERP system integrations are the most sought-after capabilities among smart wholesalers looking to transition to selling online. And the reason for this? Integrating your B2B ordering platform with your accounting or ERP system allows you to monitor every aspect of your business from your computer. In other words, all order data and customer activity from your online store are connected in real time to the backend through which you manage your daily operations.

5. You have compiled your customer list

Here’s the thing: A fully stocked B2B store is no good without customers lining up in its digital aisles. In this respect, compiling a fully comprehensive list with all customer contact details, price lists, and special discounts (if applicable) is as essential to moving your wholesale business online as organizing your products in structured categories and assigning them a unique SKU number. Importantly, having your customer list in a spreadsheet file allows you to import, invite, and, ultimately, onboard your current B2B buyers faster than you’d imagine.

6. You’ve got your pricing in writing

Organized, ready, and concise price lists indicate that your business is mature enough to go online, as you can quickly import them in bulk to your online B2B store. Once you’ve uploaded your price lists to your store, you can better set up your offers and discounts for specific customer groups based on your commercial policy, currencies, and special agreements with particular buyers. Practically, this means that you’ll be able to effortlessly handle your product pricing and automatically present customers with the “right” price for them.

7. You have your branding guidelines in place

Branding includes everything you do to present your offering to your potential buyers accurately and positively and elicit a strong emotional connection with your product line that will turn them into loyal and devoted customers. Typically, a branding strategy involves a strong visual identity (e.g., logo, brand colors). It also outlines your marketing and advertising plans and social media and website content.

In this respect, having basic branding guidelines is a must-have when moving your business online. How so? They’ll help you define the look and feel of your B2B store, how you’ll present the products and services you offer, how you’ll set up your buyer profiles and privacy groups, and the content you upload on your wholesale website.

Start selling online with B2B Wave

Regardless of how you score on our checklist, one thing is certain: With the right plan and preparation, nothing will stand in the way of launching your B2B ordering platform and store quickly and effectively and moving to the exciting world of online commerce.

And just like you wouldn’t buy a car without a test drive, sampling is the best way to decide which platform fits your business best. Start your free 14-day trial with B2B Wave to set up your store in days and explore how our platform can help you streamline your everyday operations and increase your business’s performance.