E-commerce accelerates the speed of our life. All the activities related to trading goods and services become time- and money-efficient due to the usage of innovative tools and constant improvement of the customer’s experience. B2B commerce benefits the industry in many ways, bringing individual and collective benefits for business. Apart from providing one’s own financial well-being, companies provide each other with products to maintain their existence and proper functioning.
What are the best niches to enter when targeting E-commerce, and how to start a B2B web portal development to attract more customers? Let’s follow the guide.
- 1 What Is B2B E-commerce?
- 2 Types of B2B Trading Models
- 3 Best B2B Niches in 2023
- 4 The Bottom Line
What Is B2B E-commerce?
B2B, or Business-to-business, E-commerce is the process of selling products between two businesses through an online portal. The transactions typically involve manufacturer-wholesaler and wholesaler-retailer relationships.
The meeting point of the businesses is the web portal, which connects the distributors and suppliers. The web resource is the foundation of all cooperation, thus, it is crucial to dedicate sufficient time to its planning and development.
Apart from having a seamlessly working website, it is also important to create mobile applications, as long as the majority of operations are performed through mobile devices. When hiring an iOS App development company, it’s worth clarifying if they possess a decent level of expertise regarding Android-based applications as well, as they are accessible to a bigger audience worldwide.
Types of B2B Trading Models
1. Product-based B2B model
The product-based approach is based on selling actual (typically tangible) products to other businesses. The business works as a supplier and offers various goods to other businesses. Such forms can be performed both in online and offline modes; however, they may require a higher level of investment, as they typically offer ready-to-use produce.
2. Software-based B2B model
Such a type of B2B is often referred to as SaaS, Software-as-a-Service. It offers business innovative solutions and software to enhance various business processes like accounting, customer relationship management, warehouse management, supply chain control, and other business-related activities.
3. Service-based B2B model
The B2B model of relationships is based on offering specific and unique solutions to other companies.
Best B2B Niches in 2023
1. IT servicing companies
The IT industry rules the world, it is a key component for the functioning of every company. B2B IT servicing companies provide other businesses with viable and innovative solutions to handle day-to-day operations and performance. Apart from empowering the basic and vital functioning of the company, it aims to improve and systemize the work of all the departments.
2. Green energy
Green energy includes geothermal energy and heat, solar, wind and hydropower, and biofuel. With the ecological issues becoming more and more urgent, it is the right time to jump on the bandwagon and root for the industry. Green energy infrastructure is only starting its development, and the most dramatic growth is expected within 5-15 years.
3. Corporate wellness
Corporate wellness relates to a company’s policies and strategies that aim to improve the well-being of the employees. While business performance is still a priority, the workers are no longer taken as a simple labor force. Corporate wellness companies offer various activities and facilities to improve the physical and spiritual health of the company’s employees, and thus, enhance the way they perform at work.
Drone-related business is one of the most developing niches nowadays, as drones are widely used in defense and non-defense industries like filmmaking, agriculture, real estate, construction, vlogging, etc.
The demand for gadgets of various sizes and functionality keeps increasing, therefore, it is a good idea for business development.
Financial matters always require a high level of knowledge and scrupulous work. Oftentimes, such services are outsourced, hiring companies that can provide financial audits, reports, and insights into the performance of the company, budget planning and its execution, etc.
6. Construction services
Construction services providers are always in demand, as the urban spaces are expanding, and the suburban areas are filled with private houses. Top-quality tools to use and 3D visualization take the work of construction companies to a higher level, letting them satisfy even the most demanding clientele.
The Bottom Line
B2B is a constantly evolving and self-sufficient sphere that continues to improve the way E-commerce functions. It’s highly scalable due to the number of innovative tools implemented into the structure of various businesses; and highly profitable, due to access to a global audience, and thus, potential clients. With the properly chosen niche, well-elaborated strategy, and seamlessly working web resource, simple dreams about business ownership will turn into reality.