If you sell to companies, Amazon Business should get your attention.
In this guide, I will address what B2B sellers can learn from Amazon Business — and how Amazon Business impacts them.
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Make It Easy
Amazon Business has focused on providing features that help business customers, including pay by invoice, multi-user accounts, and approval workflows. Furthermore, it eases punchout integrations so that customers add items to their shopping cart and it then”punches out” for their procurement systems to reach the necessary approvals. Amazon supports over 60 different procurement integrations like SAP Ariba, Coupa, and Oracle Supplier Network.
Amazon allows a company to add people to its account with different permission levels, like an administrator with full abilities or as a buyer that may submit order requests for approval.
Amazon Business permits a company to add people to its account with different permission levels.
Clients of Amazon Business can make Reorder Lists (items remain on the list after you buy them) and Shopping Lists (once items are purchased they are removed from your list).
Clients of Amazon Business can create Reorder Lists and Shopping Lists.
Amazon also provides benefits that business expect, such as discounted pricing for increased quantity purchases. And business buyers can set up recurring delivery of office supplies and other consumable products.
Buyers can set up recurring delivery of office supplies and other consumable products.
In short, Amazon Business removes obstacles from the business purchasing process. Amazon Business helps buyers to do their job. It supports customers’ purchasing systems and procurement principles.
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In October 2018, Amazon launched Business Prime. Like Amazon Prime, Business Prime presents multiple subscription levels in a yearly fee. All amounts include quick and free shipping, but high prices include spending visibility and guided buying, to designate favorite products for employees to purchase and restrict customers from buying products that don’t meet a vendor’s procurement policies. The lowest level, Essentials, starts at $179 per year for up to three users.
Business Prime presents multiple subscription levels in a yearly fee. All amounts include rapid and free shipping. Higher levels include spending visibility and guided buying.
Business buyers are busy. They want good products at a fantastic price. Tools such as Business Prime provide an incentive to carry out their ordering through Amazon.
Sellers on Amazon Business can upload credentials that enable buyers to locate companies owned by women, minorities, veterans, and other diverse groups. This assists companies that support diversity. Furthermore, it helps with Amazon’s picture.
Sellers on Amazon Business can upload credentials that enable buyers to locate companies owned by women, minorities, veterans, and other diverse groups.
A mantra of founder Jeff Bezos is the fact it is always”Day 1″ in Amazon. To put it differently, there is simply no time to rest on the company’s successes. Employees at Amazon are predicted to become customer obsessed. Amazon requires innovation and innovation from its own groups.
It’s made clear in the leadership principles on the business’s career website and demonstrated in its electronic commerce offering. Amazon Business constantly rolls out new features and tests improvements. Amazon reportedly deploys a code release once every 11.7 minutes. The company always tests, steps, learns, and enriches — all to supply a better experience for the customers.
A New World
Wholesalers, distributors, and other B2B companies can not dismiss Amazon alongside the digital disruption it signifies. Amazon and other digital giants are likely already taking your market share and reducing your profits.
If you sell through Amazon, tread carefully. Don’t make it your only station. Learn from Amazon and create a digital experience for your customers that makes their life easier.
And, yes, independent B2B companies can compete with Amazon. There is a benefit in being smaller and more technical. It’s possible to offer more effective customer support and better subject matter experience. But that is not enough. You need to make continuing strategic investments in electronic commerce that need testing and tweaking — not a static job every few years.