5 facts about B2B ecommerce that you should know.by Raquel Rosa, June 16, 2020
The facts that your customers find a website where they can place their orders from anywhere and at any time; the online store has an ERP system; that they can see their account details, orders placed and pending; or that they review the stock in real time and get up-to-date prices ... The application of B2B strategies and solutions provides a good customer experience, loyalty improves the relationship with him and ends up becoming a strategic partner. Sounds good, right? Well, the data corroborates these and other statements, such as the “Business to business” ecommerce will grow and much in the coming years.
Here is that data!
The global B2B e-commerce market is approaching one trillion dollars and it is estimated that half of all “Business to business” companies will have an online store this year.
In Spain, almost half of the large Spanish corporations, 43%, allocate more than 10,000 euros per month to B2B e-commerce solutions.
Although the volume of business is currently low, it is estimated that this type of organization will grow at annual rates of close to 20% until 2022.
In addition, the European market for electronic commerce applications has grown, in the last 5 years, 10 percentage points more than the total for the software market.
3. Results. More agile processes and customer experience.
79% of organizations highlight increased agility in operations as the main benefit after adopting B2B digital commerce solutions.
For 74% of companies, making the commitment to B2B solutions has improved the experience of their customers.
As a curiosity, large organizations value security in operations more, and smaller organizations care more about revenue generation.
4. B2B e-commerce is no longer exclusive.
Technology companies are those that invest the most in B2B solutions. In fact, 90% of companies in the sector will increase the amount they spend, compared to a not inconsiderable 77% of all Spanish companies.
If there is request and a suitable platform, any product or service can be sold online under the business to business model. The predominant B2B sectors with the highest percentage of income are the pharmaceutical, medical, oil, as well as automotive, electronics, machinery and industrial equipment. Fashion and food are reaping more and more success stories.
5. Smart business and customer burnout.
Smart searches, dynamic prices, anti-fraud prevention, recommendations based on behavior and previous actions ... Companies that offer integrated experiences will see customer burnout decrease up to 20%. In addition, the incorporation of machine learning algorithms that enable smart commerce functionality also contribute to user loyalty.
And here we are to get your B2B ecommerce up and running!