eCommerce B2B is one of the fastest growing areas of eBusiness. Below we present the most important trends in the area of B2B e-commerce.
B2B eCommerce is booming
Forrester forecasts that US B2B eCommerce will grow from $780 billion in 2015 to $1.13 trillion in 2020 – at which time it will constitute 12.1% of the total US B2B commerce market.
30% of today’s B2B buyers complete at least half of their work purchases online. With that percentage nearly doubling to 56% by 2017, B2B sellers will see a significant volume of offline business move online in the next few years.
B2B Omnichannel is a must
Today, 74% of B2B buyers research at least one-half of their work purchases online.
60% of B2B companies report that their B2B buyers spend more overall when those customers interact with multiple channels. Omnichannel B2B customers are also more likely to become repeat and long-term customers.
Virtual Sales Force
A million B2B sales reps will lose their jobs to e-commerce by 2020. Nearly 75% of B2B buyers say buying from an e-commerce site is more convenient that buying from a sales rep.
Many companies are beginning to treat online employees like they would (brick and mortar sales people) shop assistants. Instead of waiting for customers to buy, ecommerce sites are using popups, chat modules and other tools for sales people to convince customers to buy before they make a decision.
Content Marketing is Crucial for B2B eCommerce
The online electronic parts and tools store iFixit has more than 17,500 crowd-sourced repair manuals on its website. These manuals provide step-by-step instructions for repairs.
At large or mid-sized eCommerce businesses, it may come to the case that content marketing is outsourced to an agency or service specializing in content creation while other marketing tactics like pay-per-click advertising, social media marketing, email marketing, and SEO remain an in-house activity. The New York Times, The Wall Street Journal, and Condé Nast have all created content agencies that will help fuel this trend.