B2B Monday Myth: E-Commerce Is Too Complex and Unaffordable || Mascola B2B Marketing

B2B Monday Myth: E-Commerce Is Too Complex and Unaffordable

The Myth: E-commerce Is Too Complex and Unaffordable.

The Truth: E-commerce for B2B Companies Is Easier Than You Think

E-commerce? Not for us. We’re a B2B brand, and it will take too much time and money to get rolling. Plus, our traditional sales techniques work better. Sound familiar? It might be time to rethink your approach.

A Growing Trend Among B2B Brands

E-Commerce on B2B websites is expected to grow twice as big as B2C by 2020. And with good reason. There are an increasing number of online decision-makers ready and eager to make a purchase online. Although the start-up cost of an e-commerce portal to your website may seem exorbitant, failure to adapt could be far more costly in the endgame. Think about it:

Your Buyers Expect It. Consumer brands have set the bar pretty high when it comes to e-commerce channels, and your buyers have become conditioned to it. In fact, Forrester predicts that 56% of B2B buyers will make half of their work-related purchases online this year. Also worth noting: millennial buyers are on the rise, and they’ve been acclimated to online purchases from the get-go. Having a high-quality experience across all channels drives loyalty and keeps your customers returning.
It Saves Money. An e-commerce portal can significantly reduce cost once it’s up. One company interviewed by Forester reported a whopping jump from $24.48 per transaction through a salesperson-driven ordering system to $1.50 per transaction through a customer self-serve e-commerce portal.
It Saves Time. E-commerce saves time for both your buyers and your company. You can appreciate how saving time appeals to your company – now consider how valuable time is to your buyers. Since buying decisions often require teams, making one element in the purchase process more streamlined significantly reduces time lost. If your buyers can make their decisions and purchases swiftly, they’re likely to become repeat customers.

With B2B companies, it’s often difficult to recognize what the competition is up to until you’re already behind. Considering the projected growth of e-commerce for B2B companies in the coming years, your competitors are likely already adding e-commerce platforms to their sites. So perhaps the question should be less about how much it will cost to set up an e-commerce site, and more about how much it will cost not to.