The rapid pace of technological change is one of the most significant events of this century. The Business Development Bank of Canada (BDC) surveyed 2,000 Canadian and 600 American small-to-medium sized businesses to evaluate their level of digital maturity.

It’s a new year and as companies look to digitize and innovate, online sales (ecommerce) is a great option to invest in. Whether you’re a giant CPG company looking to hit consumers directly, a government store selling Cannabis, or a startup selling candles – ecommerce offers a branded and educational experience.

Two Main Categories of Ecommerce:

1. B2C ecommerce is used to describe a transaction conducted over the internet between a business and a consumer for his/her personal use.
2. B2B ecommerce is selling products or services between businesses through the internet via an online sales portal. In general, it is used to improve efficiency for companies.

B2C Ecommerce

“In a recent survey my company conducted, just over one in three (36%) small and medium-sized businesses said they had a website: An egregious error in a world where almost every shopping trip starts on a digital device.

So, while it’s easy to feel sorry for entrepreneurs who are forced to square off against a 5,000-pound gorilla with an insatiable appetite, you can’t blame Amazon for making small businesses disappear if they were invisible in the first place.”

Jeff Guthrie, CMO of Moneris, December 2018

There are many affordable ecommerce options for SMBs these days. A great solution and platform is Shopify. The ease-of-use, and affordability of this platform will allow business owners to breathe new online life in a quick and efficient manner. When selling online, business owners need to be mindful of these key things:

1) Product descriptions – Do the photos match the sku (exactly)? Is the right content on the product page?

2) Payments – Setting up a payment account such as PayPal to collect and refund funds

3) Returns – Do you accept them? What is the window? Who pays for return shipping?

4) Inventory – Make sure you clearly describe a lead time (that you can adhere to) on your site. It is better to under promise and over deliver. Keeping proper inventory is key for customer satisfaction.

5) Fulfillment – What carrier is shipping your product? Canada Post offers affordable pickup and drop-off options, however it is always good to have a secondary carrier in case of a strike.

A key differentiator for SMBs in the ecommerce world is customer service. Customization is an integral part of the customer journey, and it allows us to build loyal relationships with clients. Getting to know your customers is a good thing, and offering an experience tailored to them will go a long way.

B2B Ecommerce

As companies begin the transition to B2B ecommerce, there are some key things to keep in mind. The first is being transparent with sales and account managers. Initially, sales managers may be alarmed and threatened at the idea of having an ecommerce website do their job. This will build division and resistance to the whole premise of B2B ecommerce. In reality, B2B ecommerce is just another sales channel to add to your company’s arsenal. 

Going digital means staying relevant, and a B2B ecommerce site is actually an effective sales tool. This new sales tool can reduce an account managers time on menial tasks as it offers (custom & private) pricing, product descriptions, and lead time. It also reduces the need for any order entry, as typical B2B website platforms like Shopify and Magento can offer NET 30 account terms.

Most B2B demographics now undergo a digital research and buying process. We’ve all seen variations on the statistic, but it is estimated (at least) 50% of the buyer’s journey is done digitally. Millennials are now managers and decision-makers, and ecommerce is no longer a want, but a necessary mechanism to do business.

So instead of letting a new wave of change create doubt and uncertainty in your company, embrace it with transparency and education. Ecommerce is a great way to digitize your company and help develop your digital maturity.

Contact us today for more info on how we can help.