B2B, Distribution or CPG, call it what you may, is perhaps the least dynamic-looking industry of all of them out there. Although B2B accounts for over 80% of commerce transactions worldwide, it still is seen as just a provider to the more dynamic and rapidly evolving B2C commerce segment.
Ironically, even with such huge numbers, the B2B segment still lags behind in adopting and leveraging Digital Commerce as a channel. Although the trend has seen a shift in the past few years, more than half of the B2B sector does not leverage the true potential of Digital Commerce and as a result, are happy with just opening an online portal with minimum functionality and CX.
Traditionally, B2B organisations have been content with selling their goods either through Brick-and-Mortar retailers or digitally via Amazon or Ebay. Which brings us back to the need for these organisations to rethink their digital strategy. Two main things that immediately come to mind are:
- What would you prefer? Your potential customer comparing different variations of your product or comparing them with products of competitors?
- What is the level of analytics you get when you sell on a third party website or a retailer?
These have been just some of the problem statements that people have been citing from the B2B domain while contemplating the adoption of a Digital Commerce platform or even enhancing their existing platform.
In a recent survey by IDC, some of the problems that were cited by the respondents are below –
- Replicate the ease and convenience of B2C Commerce
- How effective are Investments in Digital Commerce for non-traditional industries like Finance, Insurance, and Media?
- Digital Commerce in B2B is growing faster than B2C – what do we need to do to ensure we don’t fall behind?
- Does Digital Commerce in B2B need just a robust Commerce platform or does CX and Content Management also play a role?
All of the above problem statements and concerns are addressed in the white paper co-authored by Simon Ellis, Program Vice President, IDC and Pablo Pazmino – VP Solutions Strategy, Zensar Digital Commerce, entitled – B2B Commerce – Challenges and Opportunities for Manufacturers and Distributors to Leverage the Digital Channel.
Click here to view and read the entire survey results and key findings on how B2B organisations can deliver seamless CX and an effective Return on DigitalTM investment using Digital Commerce.