As the CTO of a company specializing in sales order management and eCommerce software, I often find myself fielding the same question over and over again: “If my B2B online store isn’t paying for itself, should I shut it down?”
B2B eCommerce is Here to Stay
Before I share my answer, a quick word about eCommerce: it’s here to stay. In the post Covid-19 era, eCommerce has seen massive, exponential growth (up 77% year-over-year as of June), and is so far giving zero indications of a slow down. From ordering groceries to buying furniture to filling prescriptions, experts are talking about “permanent adoption” when it comes to consumer behavior and the current online purchasing landscape.
Digitally Native B2B Buyers
So far B2B eCommerce is following suit, with the majority of sales moving to remote models. This is not only because of Covid-19 demands on distanced interactions but also because of the changing B2B landscape. Digitally native B2B decision makers are overwhelmingly choosing virtual interactions and transactions over in-person or traditional sales interactions.
So for SMBs, manufacturers, sales rep agencies and independent sales reps trying to stay competitive in today’s changing B2B sales landscape, finding a way to give customers the ability to shop and purchase online is an absolute must.
Should you close your B2B online store if it’s not making you money? No. An investment in eCommerce is an investment in your company’s future. But you should make sure the eCommerce platform you’re using is positioning you for success.
A few final thoughts:
– Not all online stores are created equal. Make sure the solution you are using helps streamline the entire sales order management process, in addition to providing you with the tools you need to create and manage a digital storefront.
– Instead of shutting down your store when it underperforms, look for an eCommerce platform with tools that help reduce sales breakage.
– Avoid platforms that lock you into lengthy, costly contracts or which nickel and dime you for every upgrade and add-on feature.
Remember: the right eCommerce platform should feel like your most cost-effective employee — it works for you 24/7, makes your job easier, and never, ever complains.
For more information about Aleran Software and what we can do for your sales business, contact us to speak with a Consultant or Request a Demo: 952-405-7310.