There’s no denying the fact that consumers are engaging in online shopping more than ever before. In fact, a 2018 poll by Marist College and National Public Radio finds that 76% of all United States adults shop online.
While personal online shopping can be a weekly or monthly occurrence for many people, business owners often hesitate to take their products online to sell to other businesses. A vast majority of entrepreneurs still consider a physical store, print catalogs and sales reps as best practices. However, this thought process is limiting to both their business exposure and selling potential.
Wikipedia defines Business to Business (B2B) e-commerce as “the sale of goods or services between businesses via an online sales portal. In general, it is used to improve the efficiency and effectiveness of a company's sales efforts.”
As you continue reading you will learn more about certain roadblocks that hinder some businesses from establishing a B2B e-commerce website. Today, we’ll take a look at three main factors.
Lack of Reliable Knowledge
If the technical aspect of establishing a B2B e-commerce site leaves your head spinning, you’re not alone. Unclear expectations of the revenue potential, spinning your wheels trying to improve processes, and not knowing how to build custom websites are all common challenges many business owners face.
However, with a B2B E-commerce website your company will be able to increase sales, improve efficiencies, lower overhead costs, obtain new customers, improve customer service, and so much more. As a supplier, don’t lose out to your competitors by not implementing an e-commerce site; your competition hasn’t let their lack of knowledge slow them down in this area.
Concern Over the Cost
Like most new processes, there’s a financial investment associated with setting up a B2B e-commerce website. There are of course free sites available on the internet, but those definitely come with risk. To build a fully customizable B2B e-commerce website, you need to work with a company that has experience in this area.
The real question to ask yourself is, “Can I afford not to build a B2B E-commerce site?”. The world of B2B e-commerce is rapidly growing. In fact, a report from Forrester Research in 2017 estimated B2B ecommerce transactions would reach $1.2 trillion by 2021. That’s a lot of money to leave on the table. Start saving money now so you can afford to have a robust website built specifically for your needs.
Not Having Enough Time
Business owners are juggling hundreds of tasks simultaneously and the thought of adding one more element can be overwhelming. Even more, you don’t have time in your day to dedicate to developing a software solution. It’s true, creating an e-commerce site doesn’t happen overnight, and there will be some time required if you want it done correctly. However, working with a full-service website design company allows you to still tend to your other responsibilities. Plus, once your website is up and running you will be making sales 24/7 as opposed to a physical store which has 9-5 hours.
The benefits of implementing a B2B E-commerce site far outweigh the challenges. WebRevelation is a full-service website design and application company with a great deal of experience in e-commerce. We have over a decade helping businesses create a custom online presence with features such as e-catalogs, billing and invoicing, automated ordering, Search Engine Optimization (SEO), and so much more. Call WebRevelation today at 817-283-3324 to learn more or contact us to schedule a free consultation.
Be sure to check back on Thursday, October 31st for the second part of this article.