Since its creation 24 years ago in 1994, Amazon has been revolutionizing the way people buy and sell, well, everything–it started with books, and quickly grew to encompass clothing, food, technology and other consumer goods. It has irrevocably changed the face of retail business, and is now poised to do the same with the world of B2B with the Amazon Business Seller Program.
The Amazon Business Seller Program, officially launched in 2015, has been making waves in the B2B marketplace, quickly eclipsing older, traditional ways of doing business between companies.
Many B2B companies have already recognized the benefit of putting their products and services on Amazon Business, taking advantage of the ecommerce giant’s infrastructure and e-commerce know-how.
But why should you consider the Amazon Business Seller Program?
The Brave New World of Millennial B2B Buyers
The new generation of B2B buyers are digital natives, young adults who have grown up in the age of the internet and social media. For most of these people, buying products online through sites like Amazon is taken for granted, second nature. As technology and society changes, B2B buyers are demanding different kind of B2B buying process.
In the past two decades, digital natives have been revolutionizing every aspect of the business world, and with 73% of millennials involved in product or service purchasing decisions at their companies, B2B companies need to adapt to appeal to these new buyers.73% of millennials are involved in purchasing decisions at their companies. B2B companies need to adapt to appeal to these new buyers.Click To Tweet
Today, buyers turn to the internet to conduct a generic search first, when a new product or service is needed, rather than calling vendors or contacting specific brands. At times, these new buyers don’t even contact salespeople during their search. When they do, they usually know all they want to know already about the product and company, through online reviews and other information.
In other words, millennial buyers are looking for more of a B2C buying experience rather than the traditional notion of B2B buying. How can you, as a B2B businessman, use this to grow your own business?
Enter Amazon Business.
About Amazon Business
Amazon Business is an online one-stop-shop where prospective buyers can come to find all the products they are looking for without having to visit multiple individual vendor websites.
To put it simply, Amazon Business sells business supplies to corporate buyers, on a grander scale than its ever been done before.
Officially launched three years ago, the Amazon Business Seller Program reached $1 billion in sales in its first year alone, and has a faster growth trajectory than any of the company’s other business services. In fact, Amazon Business is on pace to surpass $10 billion in sales this year. Amazon Business serves millions of business customers, including more than half of the Fortune 100, top 100 enrollment-education organizations and 100 biggest hospital systems.
Amazon Business and the Amazon retail site everyone is familiar with for personal shopping are two sides to the same coin. The major difference between the two? Amazon Business requires a tax ID number, and certain items are available on Amazon Business that are not easily obtained by regular customers.
The Amazon Business platform allows sellers to easily create benefits to attract buyers, including offering quantity and per-unit discounts. With other perks, from free shipping for certain orders, comprehensive product information, purchasing system integration and more, its no wonder that Amazon Business has become a favorite platform for B2B sellers and buyers alike.
Benefits of using Amazon Business Seller Program
For buyers, Amazon Business provides transparency, allowing customers to compare and research products and pricing options. This convenience is attracting more and more customers to Amazon Business every year, and the momentum shows no signs of stopping anytime soon.
This means that, for sellers, Amazon Business allows you to reach millions of potential clients at once, which is far more efficient than acquiring individual B2B buyers one at a time. Traditionally, finding and nurturing B2B customer leads has been a time-consuming and expensive process. With Amazon Business, you can skip several steps and achieve far more exposure than you could only using your own ecommerce website.Traditionally, finding and nurturing B2B customer has been a time-consuming and expensive process. With Amazon Business, you can skip several steps and achieve far more exposure than you could only using your own ecommerce website.Click To Tweet
Moreover, Amazon is a highly trusted platform and retail brand, and any client who finds your product or company will feel an added level of security and willingness to do business with you. For B2B businesses that are relatively new, this is a particular potent benefit. And even more well-established B2B vendors will find that making their products and services available on such a well-known and trusted site will enhance their ability to attract new customers.
The B2B World is Evolving…Don’t Get Left Behind!
Amazon Business is growing rapidly, and as one of the largest e-retailer in the world, Amazon provides the perfect platform for B2B businesses. At its current rate of growth, Amazon will likely become the primary place for B2B ecommerce sales, just as its retail side is now the primary site for consumer purchases. In fact, some analysts even believe that Amazon Business could become bigger than the consumer marketplace.
Best of all, the Amazon Business Seller Program requires no additional fees for sellers.
In other words, the future of B2B is here, and its name is Amazon Business.
All savvy businesses know–the best way to find potential clients is to go where they are already congregating. In today’s world, more and more B2B customers are flocking to Amazon to search and buy. At its current rate of growth, it will soon become THE go-to site for the majority of B2B buyers.
Moreover, one of the most important rules of marketing is to be first, or one of the first–first at adapting, first to put out a unique product, first to sell. Amazon Business is an incredible opportunity for the ambitious B2B businessman willing to jump in and capitalize on this platforms unique offerings before the masses arrive and dilute the potency of its benefits.
So if you want to grow your business, stay ahead of your competitors, and reach an unprecedented number of prospective clients and buyers, contact our Amazon Account Management team to start your Amazon Business account today.