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Dec 04 2017 | Overground
Last week’s Cyber Monday generated $6.59 billion in digital sales, setting a new record for the online shopping event and confirming the importance of ecommerce in today’s consumer landscape. While online retail giants such as Amazon have largely contributed to the success of the digital sales marketplace, B2B ecommerce is leading the way in market size and sales. According to Statista, by the end of 2017, global B2B ecommerce sales will reach $7.7 trillion, while B2C ecommerce sales will only reach $2.3 trillion. That’s a 234.78% percent difference in market size.
If you haven’t already considered or executed a B2B ecommerce strategy for your business, now is the time. So, how can you start building a successful B2B ecommerce strategy for your organization? Here are 3 simple steps to get you started.
Just because B2B ecommerce is growing, doesn’t mean that it’s right for your business. Before you begin developing your strategy, start by determining if you have a product or products that can easily be researched, described and purchased in an ecommerce environment:
By answering the above questions and identifying the need and the impact an ecommerce platform would have on your customer experience, you can ensure you set yourself up for success.
The B2B and B2C marketplaces are often considered fundamentally different. However, when it comes to ecommerce, the two have more similarities than you might think. Whether your target persona is a CMO or a stay-at-home mom, at the end of the day, you’re talking to a person. And one thing the B2C industry has mastered is creating a seamless online buying experience for their customers. To create a similar experience for your B2B customers:
Some of the bullets mentioned above may not be a fit for your specific product or offering, but using a B2C ecommerce model to shape the foundation of your B2B ecommerce strategy will help ensure your shoppers have a positive customer experience.
Once you’ve outlined all of the features that you want to include in your ecommerce platform, the next step is to start defining how you’re going to build your ecommerce platform. There are many different ways to approach this step. Ecommerce software solutions such as Shopify and BigCommerce allow you to easily build your online store using their templated interface and without needing custom development work.
While these are great solutions to stand up your online ecommerce store quickly, they might not be a fit for your organization’s unique needs and objectives. Several digital agencies, such as Overground, specialize in building customized B2B ecommerce solutions for enterprises that integrate into their current website platform. Check out the recent ecommerce solution that we built for our client SPATCO Energy Solutions.
To learn more about how B2B ecommerce can help improve your online customer experience, check out our latest Marketing Insights.