August 30, 2019
Predicted to grow to 14 trillion by 2025, the Consumer Packaged Goods (CPG) industry influences the way we walk, talk, eat, and sleep. In order to keep pace with the paradigm shift to a personalized, omnichannel model, many retailers have cultivated an Amazon-like experience for their customers. However, consumer products companies have been slower to adopt eCommerce and consequently, still maintain a rigid buying process dependent upon sales representatives. In fact, only 40% of B2B sellers say that their company prioritizes omnichannel commerce and ensures that the culture, behaviors, and incentives are aligned. In the age of the self-reliant, digitally native customer, limited access to online B2B commerce capabilities is no longer acceptable.
Here are three reasons why your company should be investing in B2B eCommerce, now:
Business buyers seek simple, flexible, on-demand ordering experiences–a process that works best for them, at the time they desire. In fact, nearly 75% of B2B buyers now say that buying from a website is more convenient than buying from a sales representative. By providing a user-friendly portal for customers to order, restock, and discover new products, your company’s sales representatives will have more time to work on more complex or strategic offerings as a trusted advisor.
Adopting a flexible, cloud-based platform with the ability to scale offers a vast array of opportunities for growth. Companies that stay on legacy or homegrown systems may be limiting their sales potential to what their technology can handle. More than half (51%) of B2B decision-makers report that their systems don’t allow them to scale or add new products. This not only limits sales but also limits the ability to keep pace with shifting customer and end consumer demands. With increased agility, companies will spend less on system upkeep in the long run and sell more with product recommendations, new SKUs, greater brand mix and automated cross-sell/upsell offerings.
An optimal B2B eCommerce site offers the same level of ease and personalization a consumer site does with features like custom catalogs, easy re-ordering, subscription sales, sales promotions, product bundling, and more. The platform collects transactional and behavioral data about each customer, providing sales teams with real-time customer insights to make more informed decisions, and providing the business with more insight into customer (and hence, end-consumer) behaviors, trends, and buying patterns. With these insights, the brand can create more relevant, personalized ordering experiences that foster loyalty and growth. Companies that use a B2B eCommerce platform save time, sell more and cultivate powerful relationships with their partners through a frictionless digital experience. This creates an environment where business operations are smarter, more agile and customer-centric.
Connect with a commerce expert to learn more.