B2B Payments

The Facebook Of B2B Hits The iPhone

The debate continues over whether social media is an effective tool for B2B sellers and suppliers to conduct business, but the uncertainty hasn’t stopped B2B companies from investing in social media platforms like LinkedIn, Twitter and Facebook.

BusinessVibes recognized this trend within the B2B sector of embracing social media, and decided to launch its own platform catered to making connections and facilitating communication between buyers and sellers. Earlier this month the company announced the launch of its app for Android.

Last week, BusinessVibes finally rolled out its app for the iPhone iOS. The Canadian firm announced its new iPhone app in a press release, revealing that the platform already connects B2B companies across more than 200 countries and 100 industries. According to BusinessVibes, more than 55 million businesses are signed up for its social media platform, making it the largest B2B database in the form of a mobile application.

Business users of the app can instant message each other, search for companies and products, swap ideas and conduct other meaningful forms of conversation, all intended to lead companies into a deal – which can also be conducted through the app. According to BusinessVibes, the platform can cut the buying cycle nearly in half.

The app also offers suppliers the ability to launch their own mobile Web store by uploading images and product descriptions for business buyers.

Some experts have described BusinessVibes as the Facebook for B2B. While the industry has largely endured dated sales and communications methods to conduct business, research is emerging that reveals buyers and suppliers are surprisingly flocking to social media sites. Most recently, research firm Outsell announced the findings of its latest study: 55 percent of B2B sellers, Outsell found, consider LinkedIn to be an effective marketing tool, and nearly the same amount (53 percent) say Facebook is an effective way to reach procurement officials.

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PYMNTS STUDY: THE CROSS-BORDER MERCHANT FRICTION INDEX – JUNE 2020

The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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