Here is what happened at the end of 2019. For the first time, digital B2B sales accounted for just over half of all B2B Sales by revenue!
Heading into 2020 things we were on a steady trajectory… then the pandemic. Now the verdict is clear that anyone without an online presence is already behind. But is this really true for manufacturers? What about custom goods? Trade specific solutions? Are these really going online?
The short answer is yes.
Our expert panel at the B2BeCommerceSuccess Web Conference brought out some very interesting facts you should consider.
1. Amazon is now one of the largest “Search Engines” in the world. It rivals google on the number of searches.
2. Amazon B2B is the fastest growing business segment.
Have you checked on what your competitors are doing? Do you know how your brand is represented?
3. Have you looked into RFP and RFQ processes online now?
4. eBay and Alibaba are courting B2B manufacturers heavily.
5. If you are a job shop or custom manufacturer there are solutions.
Have you seen what variety is offered on RFQ online for your business?
6. Solutions for handling 10’s and 100’s of thousands of SKU’s and complex commerce are sophisticated and capable
7. eCommerce will now handle the multiple pay methods, PO’s, pricing and quantity needs of B2B.
Have you stayed on top of technology?
"There will be the e-commerce 'haves' and 'have nots'," says Brian Beck - our keynote at the B2B e-Commerce Success Web Conference.
The virus pandemic wiped out trillions of dollars in value and stopped many companies cold. What he found is those that already made investments in an online e-commerce and digital capabilities survived the downturn 3X better than those that did not. The average B2B revenue went down during this time, but those with online presence and capability were much more likely to have a better outcome according to Digitalcommerce360 publication which reports on B2B commerce.
Our own customers are similar. We have of course the two extremes. One customer is so busy it is now a 24/7 online operation that is continuously getting orders and shipping 3 shifts a day. The second extreme is a company mainly reliant on parts and products out of China. This caused a major disruption and downturn in their business. Certainly selling online has no effect on that situation, but being a digital company does allow for more flexibility which we are exploring. As a partner, our goal is to bring solutions and innovation to our customers. Here are some digital transformation considerations.
1. CRM. Installing salesforce for another client, we will be completely changing the visibility of sales and transactions across the entire company.
2. Supplier Portal. Creating a supplier login directly to the information hub of our client, ordering, inventory, catalog and e-commerce is pushed by the vendor!
3. Managing 100,000 SKU’s? How do you get that onto Amazon B2B, Alibaba, EBay and A specialty marketplace without new staff? We created connections and software to do this for you and manage it from one place!
Our ideas and vision can change your business. I’d love to put you in touch with one of our fantastic speakers and keynotes. I’m happy to help too….
Just reply with your question and I will get an appointment set up with Curt, Brian, Henrik, Dick or myself. We all have different expertise – but if you need some time withoout obligation, this is what we do!