According to Gartner, “for B2B organizations, digital commerce leads to cost optimization, revenue growth, improved customer experience and digital transformation. Application leaders should either launch or optimize B2B digital commerce to stay ahead of competition and achieve business goals.”
We believe, the key findings are:
- B2B buyers are demanding digital commerce options from their sellers, to the point they are prepared to switch to sellers that do.
- According to a B2B digital commerce survey from platform vendor Kibo, 75% of manufacturers, distributors and wholesalers who do not currently operate an e-commerce site plan to launch one within two years.
- The COVID-19 pandemic increased the demand for digital commerce options, as sales people, travelling and supply chains were impacted.
- Ecommerce solutions have proven to provide a better ROI than traditional sales channels.
- Contrary to what most B2B sellers think, commerce platforms provide a great opportunity to optimize the process of selling complex products.
- Involving all departments of the organization in developing a digital commerce strategy is crucial for the successful launch and growth of a commerce channel.
- The commerce channel must integrate and be complementary to the other channels, to provide buyers a multi channel experience which they can use at their preference.
In our opinion, the value of B2B Digital Commerce solutions can be divided into 4 areas:
Optimize cost and efficiency
Using Ecommerce solutions will make the ordering process more efficient and accurate. It will reduce the manual labour interactions and therewith minimize the errors, optimize the process, while proving much more transparency to the buyer.
Digital commerce enables sellers to reach new geographies and customers, and enables existing customers to increase their order spent with new, promoted or related products.
Improve Customer experience
Commerce platforms allow sellers to provide a more tailored, flawless and personalized buyers experience, when designed well.
Drive digital transformation
As interactions between B2B buyers and sellers are more frequent, it brings forward new opportunities to provide buyers with additional services.
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Gartner, Leverage B2B Digital Commerce for Cost Optimization, Improved CX and Revenue Growth, 6 July 2020, Jason Daigler