Worldwide sales in e-commerce have been taking off. In 2014, sales went up to US$1.3 trillion and currently, it is anticipated to reach US$4.5 trillion in 2021 (Source: shopify). If you are thinking that B2B is too complex for E-commerce, then you would be mistaken. E-commerce has been game-changing for many B2C organisations, and B2B organisations are also increasingly finding that e-commerce opens up new sales and marketing opportunities. Here are some reasons why you should take on e-commerce for your B2B organisation:
Embrace E-Commerce or Risk Falling Behind Your Competitors
In this world where millennials account for 50% or more of corporate buyers (Source: Google), businesses that sell B2B should not miss out on moving buying solutions onto digital platforms. There’s a big chance that your clients are the same retail consumers in e-commerce in their private lives, and they are wondering why your B2B transactions are not yet shifted online.
Moreover, having or joining an e-commerce online market platforms like Lazada and Qoo10 can create advantages like higher productivity and lower costs for both you and your buyers. Your competitors are switching to e-commerce and they will not wait for you to take on the same path. Avoid falling behind of the game by shifting your B2B transactions online!
Have an Insight to Buyers’ Purchasing Behaviour
By moving to e-commerce you’ll have the benefit of a data stream of your customers’ buying behaviours. This means that your B2B organisation will be better at anticipating the needs and purchasing patterns of your customers, to be able to customise solutions for them.
Online Presence Will Reach New Customers
When your B2B organisation gets involved in e-commerce, you are bringing your business a step closer to your current and new potential buyers with your online presence. And by incorporating all e-commerce, digital marketing, and social media efforts together, search engines will likely improve your search results rank, making it easier for potential customers to find you.
If you are interested in the opportunities e-commerce has to offer, message IH Digital now. IH Digital is a digital marketing agency headquartered in Singapore and has a presence across multiple countries in the region and in Greater China. We can help you reach your e-commerce and online marketing initiatives. Message us here.