B2B Companies Should Care About e-Commerce Too
e-Commerce is good for everyone
The research, which was commissioned by digital marketing solutions provider EPiServer, surveyed 100 U.S. companies that have implemented B2B e-commerce solutions within the past seven years. Forrester surveyed respondents' best practices and experiences in B2B e-commerce.
Of the survey respondents, 89% said that implementing e-commerce increased annual company revenue by an average 55%. At 81%, most respondents agreed that e-commerce drove up average order value by about 31%. Eighty-eight percent reported an average increase of 30% higher profitability per order. Only 2% of companies claimed that e-commerce systems book less than 10% of their company's incremental revenue.
According to the research, 39% of SaaS implementations of B2B e-commerce cost less than $1 million, while only 10% of on-premise implementations cost less than $1 million. However, companies with $1 billion in annual revenues were less likely to deploy in a SaaS environment.
The survey found the following to be the most crucial factors in successful implementation of B2B e-commerce solutions:
• Accurately defining project goals and objectives
• Involving internal and external users throughout the process
• Engaging with both internal and outsourced experts
“We believe these findings highlight the evolution B2B e-commerce has experienced,” EPiServer's VP of product management Bob Egner said in a statement. “This is a call to action for businesses to step into the quantifiable benefits B2B e-commerce can deliver today.”