7 Magento B2B Features To Grow Your Online Business in 2023

B2B transactions involve companies such as manufacturers, wholesalers, and retailers exchanging goods and services with one another. Complex orders, audience engagement, and inbound marketing optimization are just a few of the challenges unique to running a B2B eCommerce firm, which can be compared to but is not the same as a B2C eCommerce operation.

Magento is a go-to solution for B2B companies when they want to choose a convenient and secure website builder that fits all their needs, such as Magento commerce b2b features integration or an automated wholesale gateway.

⦁ Access to Company Account

B2B trade demands the formation of corporate and individual accounts because it involves more people with unique duties and tasks. To expand into business-to-business sales, merchants can keep using Magento by creating a second store manager account and tailoring their offerings to the needs of their B2B clientele.

⦁ Fast Service

If you know the specific product you wish to order, such as its name or SKU, you can use Quick Order to place your order with just a few mouse clicks. The Quick Order form may take either hand-entered or imported orders for many SKUs. When activated, Quick Order serves both logged-in users and walk-ins. The Quick Order button is at the shop page’s top.

For B2B stores, a second delay can mean a loss of revenue, and any extra step in the customer journey scares clients away. That’s why it's crucial for businesses that cater to businesspeople to have a Quick Order option.

We’ll discuss the Magento b2b features list, highlight some of the most beneficial B2B Magento features for streamlining corporate purchases, and demonstrate how MageAnts can handle the technical aspects of migrating your store to Magento.

Is Magento Good for B2B?

The cutting-edge Magento commerce b2b features give customers ease of use, consistency, productivity, and customization options.

This is because the researchers wanted to make it easier for companies to engage in business-to-business (B2B) transactions that align with their business strategy. The latter typically involves:

• Expanding into new markets.
• Adding customers.
• Introducing innovative features that improve efficiency and delight existing ones.

The 7 Important Magento B2B Features List:

These Magento B2B features can help your online shop grow, from customizable account settings and quote requests to insightful AI-driven company analytics and convenient payment options.

1. Company Accounts to Manage Buying Roles

Business-to-business (B2B) transactions entail a more significant number of individuals performing various duties, making it essential for companies to have both corporate and individual account options. Suppose a business decides to expand into business-to-business sales. In that case, Magento makes it easy by allowing them to do so on the same platform with a dedicated B2B store manager account.

The company re-platformed to Magento, as their prior platform wouldn’t allow them to serve as many individual and corporate clients as they wanted. In addition, Benum needed a bespoke module to facilitate the allocation of several sales representatives to various goods, share shipping and order data between all corporate users, and accelerate data processing.

Magento’s Company Account benefits include:

• Intuitive permissions and access hierarchies based on user roles and responsibilities
• Allows customers to receive store credit
• Admin management of all accounts

How to configure the feature:

Customers can sign up for an account on the website (with the option to request to open a corporate account).

• Click Create an Account >Create a New Company Account in the upper-right corner of the shopfront header.
• Provide the company’s contact information (email of the company administrator) and primary company data (tax ID, registration number, address, etc.) >Submit.

2. Utilizing Collaboratively-Maintained Catalogs to Establish Company-Specific Pricing

You can make a private catalog available to only a select group of people, in addition to the public record. Using the Shared Catalog function, you can show the customer a general catalog (accessible to anybody who visits the website) or a personalized catalog (for the companies, you can create special offers and discounts). Thus, businesses may reach more customers and cater to their needs with individualized promotions.

Shared catalogs in Magento have several advantages:

• Value and discount pricing tailored to each client.
• Keeping track of stock and making catalogs, with the ability to include or exclude certain things, couldn’t be simpler.
• Flexible pricing options, including the option to set a single price for all products or to use a variety of pricing models, some of which offer discounts of varying percentages, to entice customers to buy

How to configure:

To make a brand-new one:

• Navigate to Catalog> Shared Catalogs in the Admin menu.
• Click Add a Shared Catalog in the top right. You can assign a title, select a kind, and select a tax category here.

To edit or duplicate the existing one:

• Navigate to Catalog> Shared Catalogs in the Admin menu.
• Select the desired copy, then head to Action > General Settings to replicate its settings.
• Select the Catalog you want to duplicate, then click the Duplicate button.

3. B2B Quote to Allow Price Negotiation

A quote request from B2B customers is required to determine the most cost-effective pricing. It is an excellent opportunity for shopkeepers to promote and advertise their exclusive offers. Most transactions include price haggling, so a platform that facilitates this is essential.

An authorized buyer can begin price negotiation before making a catalog purchase thanks to Magento 2 B2B Quotes. The request form displays the estimate, all previous correspondence between the customer and vendor, and any attachments.

4. When the minimum order amount goes up, the profit margin goes up:

After all taxes and discounts are taken out, this function determines how much each user needs to spend to make a purchase. You can also choose which products are counted toward the minimum amount and how many are counted against it.

The perks are:

• Through the reserve option, you have the chance to reach agreements.
• It's possible to offer cheaper or free shipping.
• Boost the average amount of money per user.

5. Get in-depth B2B analytics with Business Intelligence:

Magento eCommerce offers data analytics, a valuable tool for businesses that want to learn more about how their business works. Magneto has easy-to-use tools that show different kinds of information, like Customer Lifetime Value and Average Order Value. Statistics and Rates of Retention in Business.

6. Your Enterprise Resource Planning (ERP) systems can work with Magento:

When you integrate b2b features in Magento 2, you get an improved customer experience along with various other features. When all the information, like customer data and online sales, is in your ERP software, you will have a complete picture of how your business is doing.

There are pre-built ERP interfaces for Magento development. There are a lot of companies that offer support and maintenance services forMagento b2b features. These services help their clients grow their eCommerce businesses.

7. Smart inventory management:

Your business will do better when you streamline the supply chain for your B2B sales. With this in mind,Magento b2b featuresare for managing inventory that can give distributors real-time information. This intelligent system tracks how stock moves through all channels and places.

Closing Remarks

Adobe Commerce B2B features offers us a wide range of options for implementing B2B-format solutions. However, it is vital to hunt for skilled coders for this. We’re happy to lend a hand, and our team has dozens of pre-built solutions it can implement for you based on the Magento foundation. Contact us if you have any question related to B2B features in Magento.

Recommended Read:- Top B2B Ecommerce Trends And Statistics For 2023