B2B companies want better e-commerce sites, but balk at the cost and are unwilling to try new ways to sell online, a new report says.
E-commerce technology improves every day, and for many businesses that’s good news. The downside is that many can’t keep up with the costs or the rising expectations of their buyers.
A new report shows that 54% of companies in a 2016 survey say that the cost of technology is the biggest obstacle to meeting their customers’ e-commerce needs. But there’s a shortfall in another key area: commitment to technology. 44% of respondents to the survey behind the report say their organisation’s unwillingness to innovate with new approaches to e-commerce is the second-largest hurdle.
The findings are in a report from CloudCraze Software, which is based on responses from 197 companies representing distribution, manufacturing, software, healthcare and government organisations. 26% of the respondents are with companies based in the United Kingdom, the rest in the United States.
The report maintains that businesses that sell online to other businesses generally are not keeping up with new e-commerce technology and therefore are not meeting their customers’ complex needs.
B2B companies selling online today say their biggest challenges include containing costs (37%) and the inability to provide an omni-channel customer experience (35%) that lets customers shop with consistent information and service across multiple channels, including on websites and mobile devices. Other shortcomings include gaining a holistic view of the customer (31%), effectively using e-commerce data (30%) and employee I.T. knowledge for platform management (28%).
Survey respondents want to get out in front of customer e-commerce needs by offering an outstanding buyer experience, which is the highest-ranking priority among survey respondents (38% say it’s their top priority). One in four report that updating antiquated technology is a priority for their business and about a quarter (27%) plan to spend more than $2 million in the next fiscal year on e-commerce systems.
The report’s authors recommend combining e-commerce and CRM technology to tap the most relevant data and place the customer at the centre of the e-commerce experience. What’s more, today’s cloud platforms offer flexibility, cost savings and quick speed to market.
Elevate can help B2B companies by leveraging experts in their suppliers to overcome resource constraints in creating exceptional and commercial customer experiences for no cost. Find out more at Elevaate.com