E-Commerce Capabilities Will Help Reduce Friction in the Buying Process
1652805112 Nst221801 Industry Week Article Manufacturing buyers have evolved from legacy sales channels of personal sales networks and trade shows to doing the vast majority of their research online before they even talk to a prospective seller. Millennial or not, manufacturing buyers are looking for reliable partners that offer a hearty mix of offline and online functionality for procurement. In fact, by 2025, 80 percent of B2B sales transactions will occur via digital channels, according to Gartner’s Future of Sales research.
Manufacturing buyers want to engage with suppliers through user-friendly online ordering features, even with custom products. Some 64 percent state that they would switch to another vendor if the company provides real-time, personalized pricing. Some want to receive estimated freight quotes, information on bulk discounts, MOQs and customization opportunities, preferably at any time of day or night, and via multiple channels.
The solution is an e-commerce capable website. But the dilemma for many small manufacturers is how to do it right; how do you satisfy prospects who want to talk with an expert right away before they add a part or product to a shopping cart. Common Misconceptions That Hold Back E-commerce Initiatives
The most obvious hurdle, when getting started on an e-commerce initiative, is the internal understanding and buy-in — especially the commitment to technology and willingness to change processes. Many manufacturers also are challenged with these two areas: Channel conflict
Pricing transparency
Channel conflict is real, especially for manufacturers who rely on distributors and dealers for sales and sales leads. Distributors can be an integral part of the business and add value with specialty expertise, geography, local knowledge and more. So creating an online sales channel, or any new sales channel, can be difficult. Be transparent with your partners and seek their input. Clear pricing parameters are […]
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