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Everyone knows technology is the most jargon-intensive industry going, so it should be no surprise that we’ve hit the magic number of 3,000 acronyms. And just as we think there’s nowhere else to go, along comes yet another piece of jargon: The OmniChannel
You’ve got yourself a shiny new B2B ecommerce site? It’s integrated with your accounts package so that you are now saving money and saving time. But that’s just half of the picture. Because you probably already know that by implementing the tools and options your site has come with, you can now use it to actively sell your products and promote your business.
In an increasingly digital world where b2b companies are rapidly embracing ecommerce and moving their sales operations online, reputation management has become a significant challenge – and one that many organisations are failing to address adequately.
“Market leading” is such a useful term when appended to a company name. It’s an almost indefinable word. Leading can cover just about anything. Yours could be a leading business in terms of price, leaders in technology, in innovation. However, one key way to know that you’re a market leader is based on the way you treat your customers.
While retailers have been quick to capitalise on the growth of online sales, b2b distributors have been much more cautious about embracing the benefits of ecommerce. In fact, Modern Distribution Management’s 2015 State of Ecommerce Study, says that only 4.3% of distributors accrue more than 40% of their revenues from trading online. For the majority, this means they’re missing out on the higher sales volumes and margins that established ecommerce businesses can realise.
A Forrester report entitled ‘Death of a (B2B) Salesman, recently predicted that a million b2b salespeople will lose their jobs by 2020. Its focus was around the growth of b2b ecommerce and how traditional order-takers would be hit hardest by a continually improving online customer experience.
The way B2B companies do business is changing – and the move to selling online is at the heart of that transformation. Here are five key factors influencing the massive growth in b2b ecommerce…
The growth in b2b ecommerce isn’t just a passing trend – it’s revolutionising the way companies do business. Switching to an online channel or omnichannel approach can empower business operations, transform the customer experience and drive sales. With a technology platform that aligns with business needs, companies not only save costs and increase efficiency in the short-term, they’re ensuring they have the infrastructure and tools in place to make the most of future opportunities.
The current boom and predicted rise in b2b ecommerce is well documented, but for many businesses, it’s been part of their channel mix for some time. The problem is, a lot of legacy ecommerce platforms are rudimentary and have limited capabilities compared to the latest systems – and that could be holding back companies who now need to prioritise their online customer offering to stay competitive.
I invite you to take a step outside your office. Metaphorically. And to step into your customers’ shoes. What are they experiencing when they engage with your business?
