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There is tremendous growth opportunity in B2B digital commerce since most transactions are still handled through traditional selling methods. Smart B2B sellers are implementing the digital transformations that will enable them to seize this growth opportunity , while improving scalability and operational efficiencies.
Experts predict B2B digital commerce will reach $1 trillion by 2019 in the US alone and will continue to outpace B2C for the foreseeable future.
B2B digital commerce also optimizes new customer acquisition. It is now possible to reach new B2B buyers with digital marketing techniques like organic and paid search, display advertising, affiliate marketing and social media integration. These tactics complement the traditional sales force and can be used as a sales support platform.
Today, B2B buying behavior increasingly mimics B2C , with companies purchasing in stores as well as through mobile and other devices in addition to traditional field and in-house sales.
B2B digital commerce opens the door to new opportunities with the potential to significantly boost top line revenue. Because digital commerce eliminates the barrier of set store hours and geographic locations, business can be conducted non-stop,
The advent and adoption of the Internet of Things (IoT) in the last few years adds another layer of complexity. These trends demand a B2B omnichannel focus ,with superb experiences on all devices and in all sales touchpoints, enabling B2B buyers to convert in all channels.
What are the biggest challenges facing B2B digital marketers?Watch the video! (2:03)
B2B marketplaces – like Amazon and Alibaba – present additional sales channels, extending companies’ offerings to new customers.
60-75% of shoppers prefer to research purchases before engaging a salesperson. Millennials primarily use mobile devices and social media to research products and, in business, they are increasingly involved in B2B purchase decisions.
Digital data collected from B2B digital commerce sites provides a wealth of information regarding buyer behavior. These insights can define segments and personas, then identify opportunities to up-sell and cross-sell to them using tools that utilize data to determine what should be offered.
B2B digital commerce delivers value to the bottom line. The online catalog can replace traditional catalogs. Customers can self-serve for reorders, order tracking, and online payments. The ability to procure goods over the internet in realtime makes inventory management much more effective, improving order management and fulfillment processes.