E-commerce presents lots of opportunities for both manufacturers and distributors. Analysts, including Andy Hoar, have made unflinching predictions forecasting e-commerce growth of about $1 trillion in the USA by 2019. The other side of this dazzling coin is the fact that many e-commerce initiatives are failing. According to Accenture reports, many B2B e-commerce systems still bring in less than 10% of the companies’ overall revenue.
Fortunately, there are some B2B e-commerce platforms which offer users the opportunity to grow and make profits in only a short period. Such platforms have the right systems in place and are easy to manage and use. To hire the services of these platforms, it’s essential to know how to carry out the entire research process and at the same time what to exactly look at, and the following article provides details of just that.
Set relevant goals
Revenue seems to be the key feature when it comes to setting important objectives for e-commerce. Ideally, a strong B2B e-commerce strategy must include goals that measure an increase in efficiency and a reduction in the cost of sales. A good B2B e-commerce platform should be able to not only drive revenue but to also increase share-of-wallet through automation of low-value tasks to reducing inefficiency from redundant manual processes.
Consider every user’s journey
B2B e-commerce process involves more than just a simple seller-buyer relationship. It consists of studying and understanding different buyer behaviors and coming up with platforms that address and simplify such processes. This requires a detailed understanding of the different roles played by each member in the buying cycle and coming up with options that will streamline the characters and at the same time help increase revenue.
Appreciate the complexities of B2B
Too many e-commerce solutions which were initially designed for B2C transactions have entered the B2B market, and this has greatly affected the customization efforts. This is in large part because many people, specifically clients, still misunderstand the complexities that go into B2B e-commerce platforms. Thus, to avoid disappointments, it is important to always have a clear understanding of the differences between B2C and B2B.
Also, it is vital always to know the different B2B requirements and whether the platform you finally decide to work with can easily handle most of these requirements which include the development of dynamic product catalogues with specific pricing, exacting inventory levels based on delivery locations and support of different sites which include multiple delivery locations.
— Mamen Delgado 🎙 (@Mamen_locutora) 4 de octubre de 2016