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We may never know the precise birth-date of the on-demand Economy, but 2016 was certainly the year that the concept came into more general awareness. Suddenly everyone was an expert on the “Gig Economy” as news of B2C companies and services such as Uber and Air BnB took the limelight with their economic growth.
Guardian article (1) “Why retailers stop selling online: the hidden cost of e-commerce” claims the costs of e-tailing, namely free delivery and returns, are making B2C less attractive for retailers.
Frost & Sullivan forecasts that the global b2b ecommerce market will top $6.7 trillion by 2020, making it twice the size of the b2c market. This predicted growth is being fuelled in part by the increasing influence and b2b buying power of millennials – according to PwC, they’ll account for 50% of the global workforce by 2020.
Today’s b2b buyers are increasingly tech savvy and continually looking for simpler ways to research and purchase the products they need for their businesses. Forrester calls this new era of the connected buyer ‘Age of the Customer,’ and refers to companies that are able to systematically anticipate and respond to customer needs. Yet it’s surprising just how many b2b manufacturers, wholesalers and distributors fail to put the needs of their customers first when planning their approach to ecommerce. So how do you go about developing a successful customer-focused b2b ecommerce strategy?
Have Clear Values
Today’s b2b sellers face a number of key challenges around optimising business performance. In a marketplace where many are struggling to maintain share, companies must continually build sales and turnover in order to fuel growth. Increasingly, the ability to meet customer expectations by delivering an excellent buying experience is becoming the major differentiator in retaining existing business and attracting new, loyal customers.
Analyse your sales data and chances are you’ll find that the times your customers place orders are directly linked to the times your reps pay them a call, especially if your main channel is field sales.
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.
Why B2B businesses absolutely, definitely MUST embrace responsive sites. Or die.
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.