B2B E-commerce Evolution: Selling Software in the Digital Age


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This infographic tells a story about a wonderful land of opportunity: The B2B software e-commerce market. Estimated to be almost $1 trillion in 2014, the B2B e-commerce market is bigger than its more famous sibling, the B2C market, and independent software vendors stand to make big bucks selling to business and organizations of all kinds. This infographic focuses on the kinds of digital tools and assets B2B software merchants need to succeed in selling software online in today’s e-commerce world.

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B2B E-commerce Evolution: Selling Software in the Digital Age

  1. 1. i ii iii iv For more ideas and insight on managing customer relationships and growing online sales, visit blog.cleverbridge.com Follow us @cleverbridge “B2B E-commerce Gets Its Own Publication,”Internet Retailer, January, 2014 “The Forrester Wave™: B2B Commerce Suites, Q4 2013,”Forrester Research, October 7, 2013 “Benchmarking B2B eCommerce,”Forrester Research, March, 2014 http://blogs.forrester.com/andy_hoar/14-03-17-benchmarking_b2b_ecommerce “Gartner Says Worldwide IT Spending on Pace to Reach $3.8 Trillion in 2014,”Gartner, January, 2014 http://www.gartner.com/newsroom/id/2643919 "From Promotion to Emotion: Connecting B2B Customers to Brands," CEB Marketing Leadership Council, 2013. http://www.executiveboard.com/exbd-resources/content/b2b-emotion/pdf/promotion-emotion-whitepaper-full.pdf EVOLUTION B2B E-COMMERCE SELLING SOFTWARE IN THE DIGITAL AGE The 2014 B2B e-commerce market will be between 800$ BILLION 1$ TRILLION. and B2BB2C The 2013 B2B e-commerce market is more than 2xAS BIG as the $252 Billion B2C e-commerce market. of B2B companies recently migrated offline customers online, while said that they moved online customers offline. 86 500$ BILLION Worldwide spending on enterprise software is expected to hit representing a 6.8% growth. 320 BILLION IN 2014, $ For B2B software buyers, the growth of e-commerce has not changed their relative insensitivity to price, their need for loyal relationships with merchants, or the length of their sales cycle. What it has done is shift their attention online, and B2B software merchants must now figure out how to grab and hold it. Brochures Product Catalogs Phone Calls Business Cards On-site Demos Print Magazines Order Forms Website Blog Posts White Papers Videos Testimonials Case Studies Newsletters Webinars Prior to e-commerce, sales teams used the following assets to sell software to business buyers: With the explosion of e-commerce sales, the following digital assets are additions to the tools of the past: CLICK Connect the links in each channel to a relevant landing page on your website with an easy to complete call-to-action (CTA). Include up-sells and cross-sells during the checkout process to increase your average cart value. Marketing Channels Cart Values Ensure the right message is going to the right person at the right time. Lead Segmentation Make your marketing more customer-centric. Don’t talk about what your business does - show how it helps other businesses. Marketing Messages Offer your B2B buyers the convenience they have come to expect from their experiences as individual online consumers. Online Shopping Experience Search Email Retargeted Ads Social Media 1 2 3 DONE! Tradeshows & Conferences CONCLUSION BIG IT’S BIGGER GETTING AND Provide potential customers with details on your product’s functionality and pricing. Make a strong impression on direct visitors to your site. Educate visitors with engaging blogs, videos, etc. Provide customers with the ability to manage personal information like payment type and billing address. Allow customers to submit payment directly through your website. Give customers the ability to help themselves with FAQs, order-lookups and live chat. Create a central resource hub for your affiliates, resellers and partners. >> E-COMMERCE MERCHANTS MUST CREATE: Content Product Functionality and PricingHomepage Channel Partner Portal Customer Account Section E-commerce Store Self-Service Customer Support THE 7 MAJOR COMPONENTS OF THE MODERN B2B SITE OPTIMIZE 5 CRUCIAL THINGS B2B COMPANIES MUST FOR BETTER LEADS & MORE REVENUE Make sure your content can be found wherever your customers are, but watch out for increased marketing costs from search, email, social and content development. The requirements for these are often more complex than for B2C products, and the stakes are higher. Supporting B2B customers may even require training their IT teams. Remember, a website will never replace a sales team; it will just make their job more complicated. Conflict often arises due to attribution and commission concerns between sales people, affiliates, resellers and the website. IN THE B2B BUYER'S JOURNEY: PITFALLS BEWARE OF THESE POTENTIAL Fragmented Channel Experience Implementation & Customer Service Costs Channel Conflict THEN & NOW: GUIDING PROSPECTS THROUGH THE B2B BUYER'S JOURNEY NOW: IS THE B2B E-COMMERCE MARKET? JUST HOW BIG % ONLY 14% v THEN: i ii iii iv v