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Despite huge revenue-earning opportunities for manufacturers, wholesalers and distributors, many b2b eCommerce initiatives are still failing to realise their potential. Analysts report that a large number of b2b eCommerce systems currently generate less than 10% of a company’s overall turnover, and while most have trialled some kind of b2b eCommerce activity, many small and medium size organisations have yet to adopt an authentic b2b eCommerce platform.
Despite huge revenue-earning opportunities for manufacturers, wholesalers and distributors, many b2b eCommerce initiatives are still failing to realise their potential. Analysts report that a large number of b2b eCommerce systems currently generate less than 10% of a company’s overall turnover, and while most have trialled some kind of b2b eCommerce activity, many small and medium size organisations have yet to adopt an authentic b2b eCommerce platform.
Choosing a b2b eCommerce platform can be a daunting task, especially if you haven’t established a clear set of priorities for what it must achieve. We often see companies start the selection process by deciding how they want their solution implemented – for example, whether it should be cloud-delivered or on-premise. But the key considerations really need to be around factors such as budget, how well the platform performs on mobiles, and whether its capabilities align with the way you sell to your business customers. Here we explore some of these issues in a bit more detail.
When it comes to the commercial buyer – what differentiates one product from another? In other words, what is going to sway the commercial buyer to BUY FROM YOU, not the competition?
What do the best performing b2b eCommerce websites have in common? Here are some of the key factors that can give you a competitive edge.
As part of a natural evolution, millennials are increasingly occupying decision-making positions in b2b procurement departments. With recent research indicating that around 70% of millennials prefer to do their personal shopping online rather than in the high street, this new breed of corporate buyer brings a different set of values, preferences and customer experience expectations to the b2b purchasing arena.
According to Frost and Sullivan, the global b2b eCommerce market is set to hit $6.7 trillion by 2020. Over the last few years, the growth in business-to-business online sales has encouraged a large number of manufacturers, distributors and wholesalers to implement some type of eCommerce technology to meet increasing customer demand.
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.