Accommodating your eCommerce: The importance of obtaining the right payment solutions

As this blog has pointed out in recent weeks, there are a number of ways that B2B providers can build on their services in 2013 and creating an eCommerce channel is the primary solution. However, as we mentioned yesterday, vendors must follow best practices and implement the right solutions before launching their online stores.

Taking a total view of all systems and processes and determining which solutions would work best for providing the topcustomer experience and payment solutions is important. However, it should be noted that there are other things companies can do to benefit themselves as well.

It's crucial to know what markets the online store is going to supply and capitalize on that knowledge. Vendors have to know who will be buying from their store. Small business owners will likely be buying online because they tend to incorporate their consumer habits into their company's procurement strategies. While government offices are often pegged as having traditional business mindsets who may not be online shoppers, there are certain facetsof public spending - namely school systems - that do engage in eCommerce buying.

Multichannel Merchant's list of the best ways to build an eCommerce channel for B2B vendors includes identifying and targeting niche audiences, and includes SMBs and schools as customers vendors should concentrate on.

"SMBs and educational institutions often feel left out by the traditional reseller model that seems to focus on high-volume, high-average-order customers," writes contributor Michael Chuma. "Providing a direct sales channel for these niche customers that suits their unique needs can be a very lucrative move."

Of course, focusing on these audiences will only be beneficial if vendor take proper steps to accommodate their payment methods. Schools, for example, will likely use a p card to make purchases. Working with a payment solutions provider can equip vendors with the tools needed to process these payments.

by Ty Hardison

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