After years of evolutionary change, the B2B market is now facing a major disruption and a true inflection point. Qualitative data is continually coming out to assert what many have already come to accept and acknowledge- that eCommerce technology is creating disruptive forces that can’t be ignored. Many B2B brands we work with come to us to help navigate and answer the strategic questions to assess this disruption. Important questions to help lay the foundation to create a success B2B eCommerce business for your organization can include:
- -How should my company be leveraging digital innovations?
- -What will be the basis of competition in the future?
- -How can I energize my business through the use of eCommerce?
- -What long term impact on my value chain might eCommerce have?
- -What are leaders in the B2B market and my specific industry doing to harness digital, specifically eCommerce, for competitive advantages?
Digitization, specifically the addition of eCommerce technology, is allowing the B2B market to make more informed decisions then ever before from what inventory to stock, what value propositions and user experiences resonate with each customer segment, which markets are growing, which customers prefer face-to-face sales vs. self-service, and perhaps most importantly which customers offer the strongest growth potential. This data that can be used to make more informed decisions is a key reason why eCommerce should not be set up as a separate extension from your core business, but fully integrated throughout the sales and marketing processes, otherwise your organization will fail to realize its true transformational potential. While eCommerce can create new opportunities for many manufacturers and distributors, it will quickly erode value for those not being proactive in preparing for the future and setting it up properly.
Consider these key factors in creating a B2B eCommerce experience:
- -Focus on an intuitive and guided experience to aid customers in the search, discovery, and selection of products needed to meet their particular requirements;
- -Give your customers the ability to specify the product attributes and measurements they require in order to arrive at pricing and discounting details that they need to inform buying decisions;
- -Provide a screen experience that is optimized for both mobile and desktop devices in order to meet the demands of customers on the go and in the office;
- -Make a simple online checkout process to assure customers your commitment to convenience and keep their confidence in shopping with you, no matter online, over the phone, or in person;
At Echidna, we believe that in the next three to five years a division will be created in the industry, just as we are seeing the retail industry, between those visionary manufacturers and distributors who prepare for the future of their business and those who are constrained by orthodoxies. The visionaries in the B2B market will learn and grow from the retail transformation journey and apply relevant B2C practices into their own business and customer experiences.
Download our Future-Readiness eCommerce Platform Report to learn:
- How to develop a foundation to support the future of eCommerce for your brand
- Insight to choose an a platform built for future-readiness, including examples
- Research tips when reviewing eCommerce platforms and eCommerce strategy
- Costs associated with eCommerce platforms
