B2B ECommerce Trends For The Mid Market
B2B eCommerce is growing almost as fast as the web itself, and it makes sense, right? As people depend more on technology, interconnected devices, and web objects for every part of their lives, it’s expected that we would see the same behavior in the business world.
B2B eCommerce is expected to reach $559 billion in revenue this year through client-facing web platforms (like Magento). This almost doubles consumer eCommerce projected revenue during the same span. This may come as a surprise to many. These numbers reveal that significantly more money is exchanging hands via web commerce in the business world than in the consumer world. As outlined above, these trends are expected to expand and continue to progress. We consistently hear from mid market customers that they are surprised by this.
The role of ERP
As seen above, the majority of B2B eCommerce managers are expecting to make syncing data between eCommerce platforms and ERP systems a major priority in the short term. This is no surprise. Providing both systems with the ability to flow information back and forth could prove to save organizations valuable time, prevent critical errors, and provide significantly greater logistical agility.
This agility is becoming a requirement. Buyers are expecting faster and faster responses. Orders, shipments, service issues, and the alike are expected to be responded to and acted on at a rapid pace. Businesses that don’t meet expectations will fall behind. These insights will be shared with other future customers as well. Buyers are on social media, and share experiences. Information is more free than ever before. By responding and acting quickly, a businesses reputation can proceed them; adding an advantage for the most agile of organizations.
The size of B2B eCommerce platforms is growing faster than ever before. This requires a platform capable of handling this kind of data, but more importantly, a work force capable of properly utilizing the information to improve business processes and manage a complex data set.
Reputation and streamlined business processes will become more important than ever before. Businesses will be soon expected to operate in an automated and efficient manner. Cumbersome customer processes and critical errors will receive less and less lenience from buyers.
Mid market businesses that want to succeed must make their eCommerce part of their business a strength. Buyers do their research, share their feedback, and make purchases on the web. Controlling that reputation will be critical for these businesses moving forward.
For more information regarding how Datix helps businesses integrate eCommerce platforms with ERP, CRM, and more contact our team today.