Running a profitable B2B e-commerce business is not a cakewalk by any standard, especially if you are still new to using an e-commerce platform. From improving user experience to processing complex orders, a lot goes into managing an e-commerce store.
While your initial journey to success may be characterized by a lot of trials and errors, there is absolutely no doubt that your online business will eventually benefit in the short as well as the long run by learning from the giants.
Before we read about five of the biggest B2B e-commerce success stories, let’s take a look at some inspiring B2B e-commerce statistics.
- A lot happened last year in B2B e-commerce as B2B online sales reached a staggering $1 trillion (Digitalcommerce360).
- In 2017, a report from Forrester Research estimated B2B e-commerce transactions to reach $1.2 trillion by 2021. It accounts for more than 13% of all B2B sales in the United States.
- Frost & Sullivan has estimated that B2B e-commerce will hit a whopping $6.6 trillion by 2020.
Get inspired by these five brands that have turned to the profitable world of e-commerce to redefine their business operations and reach exponential heights.
There is no surprise that Rubik’s Cube is the number 1 puzzle game in history. However, its fortunes were not the same until the company decided to go the e-commerce way. Rubik’s was able to get into the world of eCommerce.
Within a short period of four months, Rubik’s was able to move customer experience from just a catalog-based site to an avenue with fresh content, more options for distributors, and a new checkout process along with new features. Rubik’s was able to increase its revenue by 150% in a period of just six months.
Partnering with Amazon Echo
Coco-Cola is joining hands with Amazon Echo and other smart speakers to get voice-activated orders. In addition to this, the company is also driving beverage purchases via mobile ordering apps of restaurants.
‘Popping’ on the digital shelf
Coca-Cola has been using in-store merchandising to drive impulse purchases for years. It is now applying the same form of creative vigor through inspirational copy, high-resolution images, and targeted marketing to get more clicks.
Direct-to-consumer order fulfillment
For the first time in the bottling history of this company, bottlers are directly delivering select brands to the homes of consumers through eFulfillment.
Come try is focusing on a B2B e-commerce platform that connects people in need of products that are manufactured with very precise specifications. The highly sophisticated on-demand marketplace model (provided by it) is now giving solutions to B2B companies that were previously restricted only to B2C e-commerce portals.
This allows users to enter specific purchase requirements and get instant estimate quotes. By leveraging technology, Xometry has been able to simplify the entire process of creating the equilibrium between demand and supply.
Today, users can quickly buy and sell services like sheet metal fabrication, 3D printing, and other kinds of custom manufacturing with just a few clicks. The company leverages the power of the internet to assist small and medium-sized companies in shopping through a portal that swiftly connects manufacturing buyers and sellers.
The entire process is designed to assist manufacturers in avoiding downtime and maximizing the use of available capacity. By doing this, Xometry fills gaps in the schedule with jobs that companies choose to take on.
Boeing has been in the B2B e-commerce sphere for some time, but the last-year launch of Modification Marketplace, a new e-commerce website, allows users to place orders easier, smarter, and faster. This online tool offers big advancements in inhibiting the time spent to browse static documents in search of information.
Modification Marketplace acts as the virtual source for retrofit and airplane modification orders. Not only this, but it has also allowed Boeing to provide faster response times and easy-to-find information in the context of delivery time, prerequisites, and pricing. Previously, Boeing customers used to rely on paper-based catalogs to have a look at the features, products, prices, and order times.
Today, customers can have easy access to instant information about order shipment, availability of specific parts, and price adjustments with an automated version of paper catalogs.
Boeing, through its subsidiary Aviall, also offers a mobile app that can be used for comprehensive and instant searches for products they require Boeing to offer an amazing personalized experience for customers.
Inventory Locator Service, another subsidiary of Boeing, also reaps the advantages of B2B e-commerce tools for automating order deliveries and placements of aerospace spare parts. This allows customers to easily search for and buy aviation products and services they are looking for.
#5: Dollar Shave Club
At times, it’s all about the convenience and not what the product does. Founded by Michael Dubin, Dollar Shave Club revolves around the fact that shaving is supposed to be easy and so should finding shaving products.
Dollar Shave Club used to offer a subscription service of one dollar where customers of this business receive premium-quality razors on a monthly basis. Recently, it repriced their services from $1 to $5 and now includes other products, from body cleansers to shaving butter.