As technology advances, we continue to find new ways to incorporate the digital world into our everyday lives. The same can be said for business. The age of the internet brought with it a new wave of digitization, social media opportunities, and ways to expand a business’s reach.
One of the most valuable components of this digital wave is ecommerce and online storefronts, and it is a key piece businesses should not overlook. The pandemic only accelerated the incorporation of online retail for small businesses. According to Forbes, 43% of small businesses now have some sort of ecommerce presence. They note that this number increased by 8% since December 2019. And this statistic will likely continue to increase. Oberlo states that online sales are currently totaling around $4.9 trillion in 2021. It is estimated that this number will increase to $6.4 trillion by 2024 (Oberlo).
Now, people may point to these numbers as indicative of trends in B2C sales but not relative to the B2B market. However, online sales are becoming more and more important in B2B sales as well.
A blog from Episerver asserts that B2B businesses can find online success when they understand the uses of ecommerce. They note that whereas B2C ecommerce has the single focus of sales, B2B businesses can also benefit from the ease and efficiency online transactions offer for both the customer and the sales team.
“Your future buyers not only prefer to shop online but will demand it” (Episerver). Offering an online storefront not only allows B2B businesses to foster additional connections with existing customers, but it also gives the business a platform to reach new clients and additional markets.
We all know the value of a personal face-to-face interaction, but if the pandemic has taught us one thing, it’s that it’s best to have more than one way of doing things. When it comes to sales, it takes a village of roles and methods to have your business’s voice heard in today’s market. Investing in ecommerce might be just the thing your business needs to help it stand out.