by Ty Hardison

How moving business online can improve your bottom line

Research shows that engaging with customers on multiple channels can drive sales.

After bringing their e-commerce platform online, wholesalers often make a push to bring in new business through their website. As important as focusing on new customers is for companies looking to establish their e-commerce operations, research shows there is also significant benefit to bringing their existing customers online as well.

According to a report from Forrester Research, B2B customers who transition to web procurement are more likely to become repeat customers and long-term customers than they would be if they only connected with wholesalers in person. 

As many as 60 percent of wholesalers responding to the Forrester survey say their customers spend more overall when they engage with their suppliers on multiple channels, including online. Just 9 percent said their multichannel customers spent less. In addition to playing a role in overall spend, the report found that engaging customers online as well as offline could make them more likely to try new products and return as repeat buyers over time. 

Of course, central to a company's ability to reap these benefits is the quality of its e-commerce experience. According to another Forrester report authored by B2B specialist Andy Hoar, these are the most in-demand features procurement officers look for when shopping online:

  • "Nearly 70 percent of B2B buyers say they prefer making instant payments online."

    Instant online payment: Nearly 70 percent of B2B buyers said they preferred making payments instantly when purchasing online, with more saying they would rather pay with a with credit or debit card than any other payment method.
  • Brands and products: When shopping online, 35 percent of B2B buyers say they prioritize wholesalers that offer the specific brands and products they are looking for.
  • Product details: While not all orders can be quoted instantly, 28 percent of buyers say their ideal supplier would offer quick access to pricing information and technical data directly from their website.

At Vantage, we can help ensure your B2B e-commerce platform is outfitted with a credit card processing gateway. With the technology in place to make the checkout process seamless, customers both new and old will find themselves returning to your site whenever its time to place an order.

To get started, speak with one of our payment advisors today!

by Ty Hardison

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