January 20, 2014: B2B e-commerce can have a real benefit for B2B marketers: An article on eConsultancy reports that companies that have moved their ordering process online have increased their average order value (AVO) 44%. In addition, 38% of the surveyed company executives have said customers spend more online than in person or other transaction methods.
While B2B ecommerce is a big change in the B2B buying cycle, marketers will not only see an increase in overall sales, but in other areas as well, including sales support and asquistion. 50% of those surveyed were able to decrease their acquisition costs and 52% decreased support costs.
The eConsultancy survey correlates the growth of this aspect of marketing well, especially since a 2012 study by Oracle reported that only 25% of B2B companies were using ecommerce, even though it had 50% more revenue than retail in 2011.
Continuing into 2013, Forrester asked over 700 companies around the world and found that B2B e-commerce is definitely increasing. 50% of respondents stated that they were currently selling to business partners online. Forrester analysts report that B2B decision-makers like having multiple options when it comes to ordering, which is why offering an e-commerce option is so important. In addition, as bigger B2C e-tailers like Amazon are potentially looking into offering B2B services online, it is more crucial than ever for businesses to begin considering it seriously.
B2B e-commerce is continuing to grow from just an option into more of a necessity. As Oracle correctly forcasted in their 2012 report, “the next decade will be an innovative and demanding one for B2B e-commerce.” By optimizing the e-commerce experience through existing system integration, easy functionality, and future scalability, B2B companies can look forward to increasing their sales through online offerings.