July 08, 2020

Why you should invest in e-Commerce for your B2B business


The online shopping experience is becoming increasingly important. For most people, the shopping journey begins and ends in the online universe – items are pulled down from virtual shelves, placed in the virtual basket, and delivered directly at the door. Earlier this year, FDIH published a report showing that online consumption in 2019 has set a new record, and studies following-up indicate that this is a growing tendency.

Written by Jacob Gammelby Stenhaug
e-Commerce
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There is no doubt that e-Commerce is crucial to create a successful B2C business - but does the same apply to your B2B business? The answer is yes. Even though the strategy may differ significantly depending on whether you target the B2C or B2B market, it is always essential to have excellent customer experience in mind – not matter if you are selling to consumers or businesses. And you can ensure the good customer journey by adding a webshop solution to your BtB-business.

 

The future of B2B is e-Commerce

According to Forbes Magazine, B2B e-Commerce will experience a record high growth over the next five years. One of the driving forces behind this development is that more and more people from generation Y and Z are involved in the B2B purchasing decision. Generation Y and Z refer to people born from 1978 to 1989 and 1990 to 2001 and they are primarily digital natives. When it comes to B2C,  they are already familiar with how online shopping can be both personal and easy.

B2B companies can learn from B2C companies when it comes to attracting and retaining online customers, but this is of course easier said than done. B2B companies face some challenges that make e-Commerce more complicated and cause more people to doubt whether it is worth the investment. For example, B2B companies will find that they have to invest in extensive marketing campaigns because they do not sell their products directly to the consumer. Therefore, they cannot directly influence the consumer's choice. The sales process in a B2B company is also characterized by being more complex. Although challenges exist, implementing a webshop solution is still a highly relevant measure to achieve success with your B2B business.

 



An investment in e-Commerce is valuable for your business, because...

  1. It can help you make sure that existing customers return to your webshop
  2. You can easily attract and serve new customers 
  3. Revenue from existing customers can be increased through up-selling, cross-selling and additional sales 
  4. You can optimize your sales processes and make them more efficient 
  5. The costs associated with traditional marketing campaigns can be reduced

 

1. It can help you make sure that existing customers return to your webshop

It is mainly about good customer experience. By offering your customers an online platform where they can easily and quickly buy your products - you help them save time. Customers will appreciate this convenience, and it will increase the likelihood of them returning to your webshop instead of your competitor's.

 

2. You can easily attract and serve new customers 

With an online presence you can attract and service new customers. This could mean that you will enter market segments that you have not actively focused on before. And instead of trying to reach entire segments, you can target potential buyers more directly.

 

3. Revenue from existing customers can be increased through up-selling, cross-selling and additional sales

You can access data about your customers that can provide an insight into their buying patterns and burn rates on previously purchased products. With this knowledge, you can give your customers personalized recommendations on products they may not even know they needed. When you offer your customers products or solutions, they did not know existed but are in need of, you become more relevant to them. In this process, you also increase the customer's lifetime value.

 

4. You can optimize your sales processes and make them more efficient 

The opportunity to optimize and make your sales processes more efficient is another benefit of investing in B2B e-Commerce. By automating repetitive tasks, you can reduce the risk of human error in ordering and shipping. The opportunity to optimize and make your sales processes more efficient is another benefit of investing in B2B e-Commerce. By automating repetitive tasks, you can reduce the risk of human error in ordering and shipping, thus making your sales process far more efficient. Expanding your sales channel with e-Commerce does not mean replacing your sales team or customer service department. It simply means that they can focus more on what is most important - the customer.

 

5. The costs associated with traditional marketing campaigns can be reduced

The addition of e-Commerce allows you to market your B2B business digitally through, for example, SEO and Google Ads. It helps you target your marketing even more, and at the same time, reduces costs associated with traditional marketing campaigns such as printing and distributing paper catalogs and buying analog ads.

 

ecommerce webshop fiftytwo 52eseller

Author Jacob Gammelby Stenhaug

Jacob has +17 years of seniority in e-Commerce, IT, and dynamic pricing. He has a great understanding of our customers' business and experience in delivering complex IT solutions. Contact Jacob if you have any questions Jacob Gammelby Stenhaug, Business Development Manager, e-Commerce | +45 27 53 00 12 | jgs@fiftytwo.com

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