Written by Eric Marotta, | Jul 24, 2017
With B2B eCommerce poised to reach $1.2 trillion by 2021, businesses understand the opportunity of investing in digital strategies. In fact, digital commerce is the capability most often demanded by our clients’ customers. To be sure, business-to-business relationships depend upon customer retention, so launching commerce is a top priority. For many organizations, the ability to measure ROI is a critical first step to understanding the value and defining a business case for a new commerce platform.
Whether you’re modernizing your current system or investing in a commerce solution for the first time, your B2B organization can realize significant financial gains from digital commerce. With the right solution, businesses will drive new sales, increase revenue, cut costs, and enhance customer engagement in collaboration with their direct sales and service teams. More specifically, a digital transformation can empower businesses to:
- Increase average order value by presenting related products to cross-sell or upsell and offering incentives to place large orders
- Reduce cost to serve customers with self-service capabilities that eliminate the need for sales reps to manually process low-volume orders
- Increase customer retention through a convenient online portal that enhances accessibility and motivates customers to return
- Eliminate order errors through customer-specific products and pricing and validation rules that assist the customer with submitting the perfect order
- Enhance sales team efficiency by enabling them to focus less on low-value order taking, and more on strategic brand value
Organizations that rely on legacy investments often discover that their commerce websites are more resource drains than revenue drivers. Previously introduced as siloed channels, legacy systems are often difficult to navigate and rarely enhanced, leading to frustrating customer experiences. These poor experiences lead to customer churn.
A Fresh Approach
At CloudCraze, we’ve applied decades of experience to building the market-leading cloud B2B commerce solution, and have translated that experience into the design of an ROI Calculator. This calculator is unique in that it measures the digitization of your entire business, including legacy sales and partner channels. Our goal is to help you take a closer look at where and how commerce impacts your entire go-to-market strategy – from direct, to partner, to digital channels.
The CloudCraze ROI calculator goes beyond a typical computation of revenue and provides the framework and considerations for your business to improve operational efficiency, utilizing existing business metrics like revenue, average order value and error rate by channel. It then provides suggestions for post-implementation improvements that you can use as a guide, or to input your own expected improvements. Our calculator provides a unique enterprise-360 perspective, leveraging detailed insights from our experience, while also allowing you to tailor the impact based upon your multi-channel data points.
The calculator generates a customized report detailing the effectiveness of your sales channels, including digital commerce, and reveals how a digital transformation will impact your business’ bottom line. The report is not to be exhaustive, but rather a means for you to gather perspective on an enterprise framework. We hope you find value in the output, and encourage you to engage with us in a more tailored assessment through our sales team.
Learn more about the tool and start evaluating the impact of your organization’s digital commerce investment today.