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Research shows that nearly 70% of millennials prefer buying online to bricks and mortar shopping. So it’s hardly surprising that as millenials increasingly find themselves in purchase decision-making positions within b2b companies, their preferences and expectations for the digital experience are impacting on the actions of sellers.
When you decide to switch to b2b eCommerce, as well as creating a website there are a number of other factors you need to consider and address before you’re ready to make the move. Think about the changes you’ll need to make to operational systems and process to accommodate an automated sales procedure where customers can access product information, real-time stock availability, and place orders 24/7.
Launched in 2015, Amazon Business is the b2b version of the familiar online consumer marketplace and now boasts over a million customer accounts, more than 45,000 active sellers, and over 10 million products for sale. This rapid growth proves that Amazon Business is satisfying the needs of business procurement teams, but many companies are still unsure whether they’re better off focusing their sales efforts on their own eCommerce websites. If you’re thinking about buying or selling through Amazon Business, here are a few of the upsides and downsides to consider.
Data is the currency of competitive advantage for business in the digital age, and its importance is only going to increase in the future. But as more businesses realise the value in capturing, storing and processing customer data, people are increasingly concerned with how their personal details are being stored and used. In Europe, this has led to the introduction of the General Data Protection Regulation, or GDPR. And if you do business with anyone who is a citizen of the EU, after 25 May 2018, you’ll need to ensure that you are GDPR compliant – or face a serious penalty.
The manufacturing industry has seen significant disruption over the last ten years or so, especially in the way companies manage their approach to trading – from the move to customer self-service, to the evolving role of distributors in the sales ecosystem. Such disruptors are the direct result of digital transformation in the manufacturing sector and the accompanying growth in b2b eCommerce. However, in our experience, these disruptors are better viewed as business facilitators that need to be integrated into your business model to maximise their value. Let’s take a closer look at some of the challenges that come with business disruptors and how we can turn them into business opportunities.
So you’ve made the decision to create an eCommerce channel for your b2b business, you know which customers you’re aiming the service at, what the website will need to do, and the technology you’ll have to put in place. But what about your people? How will you prepare different teams across your business for change, and at the same time ensure that resources are deployed in the most efficient way?
Whether you’ve recently launched a new b2b eCommerce initiative or you’re looking to improve the performance of an existing online store, you’ll no doubt want to measure progress towards your goals against a series of KPIs.
So you’ve made the decision to create a b2b eCommerce channel, your site’s been designed and built, and you’re planning to launch. How do you now secure the engagement of your existing customers and how do you attract new online buyers?
Today’s business-to-business eCommerce platforms offer manufacturers and wholesalers a unique chance to provide their customers with a simple, seamless user experience, as well as the flexibility to meet continually changing market demands.