The global B2B eCommerce sales are predicted to reach over $6 trillion by 2020, surpassing B2C that is valued at over $3 trillion by 2020. With this in mind, it is a smart move for B2C eCommerce businesses to start thinking about how they can make the most of their eCommerce store. In order to scale quickly, B2C eCommerce businesses should start looking into how they can move into the B2B market.
Watch our webinars to learn how to manage, grow and scale your eCommerce business in 2018.
We recently co-hosted a webinar with Klaviyo. Klaviyo is an email marketing platform built for eCommerce businesses. In this webinar we discussed how businesses can mimic their B2C marketing tactics to build their wholesale business online. We identified how to engage wholesalers with the right emails and how TradeGecko can power the B2B experience for wholesalers.
Parker McMahon, who is the Channel Manager of Platform Partnerships at Klaviyo started his presentation by looking at some B2C eCommerce email marketing trends.
Email marketing has been the workhorse for B2C since the beginning. Today, email still dominates as the number 1 channel for how B2C stores interact with their customers - from transactional communication, to support, and grow their business through marketing and sales.
- Parker McMahon, Klaviyo
Thanks to technology, email marketing automation has helped bring the B2C market to where it is today. Klaviyo looked at over 1000 eCommerce stores at the end of their Q4 2017 and found that the most successful B2C stores source over 27% of their revenue from email marketing. With this stat in mind, there is no reason why wholesalers can’t utilize email marketing in the same way B2C businesses do.
Mark Cohen, who is the Partnerships Manager for North America at TradeGecko, started his presentation by discussing how B2B buyers have evolved over the last few years.
B2B buyers are becoming more digital by using more devices, doing more pre-research and expressing more preference for doing things in a self-serve capacity.
- Mark Cohen, TradeGecko
In a recent McKinsey survey, 86% percent of respondents said they would rather use self-service tools to order products than talk to a sales representative.
This is good news for B2B eCommerce businesses as it makes it easier to scale a website than a workforce, however, it also presents a fundamental challenge and change to the way that B2B businesses operate.
- Mark Cohen, TradeGecko
In the second part of Mark’s presentation, he discussed the benefits of TradeGecko’s B2B eCommerce store. These benefits include an exclusive invitation for wholesale customers to buy directly from an online B2B store, customization on catalogs and pricing, TradeGecko Payments, and more.
By adapting your B2C workflows for B2B online operations and engaging customers (both B2B and B2C) with the right emails, 2018 should bring increased growth for eCommerce businesses.
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