Companies not adopting B2B eCommerce will soon go out of business
If you are responsible for B2B sales and your company does not have an eCommerce site, this article is for you. Continue reading more about B2B Marketplace Free Business Offers. In fact, what I’m about to share might be the most important five minute read in the last ten years, unless it’s too late.
Sale drop down
You might also notice, your job, is increasingly harder every day, especially over the last five years, People no longer answer their phone, let alone, return your call. Your receptionist confirms that the number of phone calls you could count on, for new sales, are down substantially, as well.
Every morning, sitting at your desk drinking coffee and reading the news online you continually see someone in your industry doing well, in fact, much better. Some may blame marketing, because of a lack of qualified leads, or because your company has cut it’s sales budget and as a result, you’re unable to attend as many trade shows as you may have before.
What the research says?
The truth is that the B2B marketplace buying process is experiencing a revolution. A recent study identified that about 72% of all product searches start with Google. This alone could be a big reason why your phones aren’t ringing and declining sales. When a new customer finally calls, you typically make the sale, because they’re much further along their buying process than ever before. In fact, a new customer most likely knows as much, or more about the product purchased than the person selling to them.
5 Common Reasons for B2B Marketplace Investment
- Opportunity to sell much more by expanding the traditional footprint at a much lower cost.
- You can build logic that automatically makes upsell recommendations that increase average sale and overall lifetime value.
- Self-service components of your eCommerce site cut the expense of supporting and servicing already-acquired customers.
- Allowing customers to complete a purchase online by themselves can allow your sales team to focus on high-value sales.
- Procurement departments are beginning to expect it.
Revolution In B2B e-commerce
Today’s growing companies saw the first revolution earlier. Early adopters put money into the online channel to meet expectations of their current and future customers; fishing where the fish don't hurt either.
As we are starting to experience another seismic shift among B2B buyers, this new revolution, is continuing much faster, relate to a B2B marketplace buyer’s expectation based on what they have become accustomed to as consumers. Again, we will see early adopters once again flourish, and of course, those delivering an online experience inferior to B2C commerce sites, or none at all, will soon go out of business.