50 years ago the idea of a personal computer was laughable.
Early companies looking to break ground on the idea of the personal computer were often laughed out of the room.
Looking only at the enormous size and industrial/scientific uses of early computers, short sighted investors asked, “Who would ever need a computer in their house?”
And now? Well, it’s a no-brainer that the early adopters won the race.
And today, the big advancement being embraced by businesses with vision is B2B eCommerce.
According to a recent study by BtoB Online (a digital marketing company), only 15% of B2B marketers are avoiding e-commerce completely these days. But 31% of the respondents are “strongly” or totally adopting e-commerce, as compared to 25% in 2012.
Trends indicate that at least 40% of B2B marketers will be turning to B2B e-commerce by 2014.
For now, e-commerce platforms are mainly applied in selling low-price products, like office supplies. But it is paving way to be used in offering high-price products, according to Andy Hoar, senior analyst-B2B e-commerce and business strategy at Forrester Research.
“While people aren’t buying very expensive products online yet, they are buying replenishment and replacement parts via e-commerce,” Hoar said. “Nobody is buying a backhoe online right now, but it’s increasingly likely it will happen.”
Hoar also estimated that there are now a total of $559 billion annual B2B e-commerce transactions in the United States alone. Meanwhile, online consumer transactions are about $220 billion.
“E-commerce definitely is broadening beyond the transactional,” said Rob Mihalko, VP-seller marketing at Ariba Discovery. Ariba Discovery is an Ariba-based service that finds the best suppliers for certain buyers.
But the opportunity here is far beyond “keeping up with the Jones'”.
With the number of companies who “get it” being still relatively few, the chance for suppliers, resellers, and manufacturers to jump ahead of the pack has never been greater.
If you’d like to see B2B eCommerce in real world applications, you can request a private tour of the most adaptable B2B eCommerce platform in the world (on the right). After you see the potential, you’ll be glad you’re in the position to strike while the iron’s hot.