B2B E-Commerce Sales set to Explode
by Vin DiGioia
According to a recent study from Forrester, B2B e-commerce sales in the U.S. are expected to hit $1.13 trillion in 2020 – is your B2B website ready?
The study, entitled “US B2B eCommerce Forecast: 2015 to 2020“, cites the following factors as major contributors to the projected growth in B2B e-commerce sales in the United States:
- Shift in B2B Buying Habits – Many B2B buyers are now both researching and purchasing online. In fact, Forrester is projecting that by 2017, a majority of those same B2B buyers (56%) will complete at least half of their work-related purchases online.
- Cost Savings – The cost of servicing an online customer vs. a traditional, offline consumer can be significantly less in some cases.
- Omnichannel Consumer Development – Multichannel B2B customers tend to spend more and are also more likely to become repeat customers.
Whether you are currently doing business online or are planning to start, B2B e-commerce sales will be a fertile growth area for companies in the coming years. While the initial cost outlay can seem daunting, if planned and executed properly, an e-commerce website can prove to be a profitable growth area for B2B companies for many years to come. (Oh, and whatever you do, make sure it’s mobile-friendly.)
Continue ReadingBrand Identity for B2B Companies: What You Need to Know
Not too long ago, a small industrial company didn’t give a damn about its image, location, or physical plant. Most customers of these industrial operations would have been surprised to see just where the products they bought came from. Companies in industrial parks and manufacturing plants around the world were laboring in some nondescript structure without regard to what kind of image they were projecting. The logo that they used in 1962 was still good, and who cared about that stuff anyway?
The Internet changed everything for B2B brands.
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