By Ronak Meghani
Recent reports on B2B ecommerce by Forrester, the international research and advisory giant, reveal many facts regarding the growth and influencing factors of this market sector, which is expected to grow by more than $1.13 trillion per annum. If your small business targets this market sector, you’ll want to know this information.
Infographic Via Magneto IT Solutions
B2B ecommerce market growth in the US
Forrester also has presented possible reasons for growth in the B2B ecommerce sector:
– The contribution of changing preferences and behavior of B2B buyers.
– Availability of ways to cut the cost of consumer services.
– The emergence of online shopping channel for B2B customers as an additional option.
Shifting trend from B2C to B2B
Now that B2C is a saturated market, B2B has chances to grow rapidly. Therefore, market trends exhibit significant shift. The reason behind it is the rise of self-service and simplified ordering experiences.
10 large ecommerce markets in the world
Ecommerce has spread its tentacles across the globe, and top ten nations are earning a big figure of revenue from the ecommerce. Among those China is ranking on the top and the USA, UK, and Japan are following it.
B2B growth rate by selling channel
The role of various selling channels for B2B ecommerce business is significant in its growth. The retail channel is the most influencing followed by manufacturing, then distribution, and finally wholesale channels.
Multichannel integration
Today ecommerce depends on various third-party services by integrating various APIs and extensions to extend its functionality as well as offer contemporary services.
Therefore, various integrations play a vital role in the growth of B2B ecommerce and those integrations are shipping services, shopping cart, and order management system to improve various performance factors such as on-time delivery, order management, order accuracy, and inventory management.
Targeted B2B ecommerce customers
It has long been believed that C-suite employees like CEOs and top-level managers have much say in the buying decisions in the organization involving into B2B ecommerce businesses. Today, however, that is not true, and nearly 81% non-C-suite staff is influencing the strategy making process. They should be your B2B ecommerce targeted customers, and you have to run marketing campaigns focusing much on them to achieve sure-fire success.
[amazon_link asins=’0789748878′ template=’ProductAd’ store=’succeedingin-20′ marketplace=’US’ link_id=’4979c004-05c2-11e8-aa33-71ba5c6a6a35′]B2B ecommerce delivery options
Today B2B ecommerce businesses flourishing on an international level and are helped by multiple location warehouse and logistic services. Therefore, they have various delivery options to use and offer, such as,
– On-time delivery
– Partial delivery
-Return management
– Automated replenishment
– Multiple warehouse facilities
Effective B2B ecommerce marketing channels
Recent surveys on various marketing channels working for B2B ecommerce have revealed that:
– B2B ecommerce website has the highest share of 86%
– Email has 72%
– SEO has 54%
– Social media has 52%
– Blogs have 39%
Therefore, spending much on website augmentation can reward you a lot.
B2B ecommerce customers prefer to go beyond the borders
A survey on overseas purchases has unveiled the fact that 57% online shoppers have made purchases from overseas retailers at least once in last six months. It supports the global trends of B2B ecommerce and shows a lot of promises in coming days.
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Ronak Meghani is a co-founder of Magento IT Solution Pvt Ltd, A Leading eCommerce Development Company in USA and India. He is closely working with e-Commerce ventures since 2009 and he has helped 200+ brands for building / improving their online ventures. You can follow him at Quora or Linkedin.
