A B2B ecommerce program is now “must have” as opposed to “nice to have” for most business organizations these days.
Those in B2B sales who think it’s optional to invest more in ecommerce are mistaken. B2B ecommerce has become the leading sales channel in revenue generation, usage, effectiveness, and investment. Since last year, ecommerce has dethroned in-person sales as the top revenue-generating channel among organizations that offer ecommerce as a purchasing channel, says a new report from McKinsey & Co.
Having B2B ecommerce is non-negotiable for most businesses
71% of B2B respondents offer some form of ecommerce, and online sales now account for 34% of revenue for a typical organization, according to McKinsey’s ninth annual B2B Pulse Survey, which surveyed 3,942 B2B decision makers across the United States and 12 other countries.
“For the fourth year running, those who sell online rank ecommerce as their most effective channel,” McKinsey says. “30% of adapters, 38% of innovators, and 35% of seekers get the bulk of their revenue out of e-commerce. In comparison, 20% of adapters, 19% of innovators, and 13% of seekers generate the most revenues from in-person sales, the lowest percentages we’ve seen in the post pandemic world.”
McKinsey notes that B2B commerce revenue is divided into thirds:
- Self-service digital commerce.
- Remote online transactions with sales reps.
- In-person sales.
The report refers to omnichannel ecommerce is the combination of self-serve digital commerce and the multiple forms of remote transactions with reps, including email, mobile apps, live chat, and video conferences. Additionally, the report asserts that it’s crucial for B2B sellers to provide a “cohesive, integrated omnichannel experience.”
“Customers don’t want a mere variety of multiple channels,” according to the report. “They want a true omnichannel sales experience that feels smooth, curated, and orchestrated to meet their specific needs.”
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