New Study Reveals Challenges, Solutions for B2B Growth
NEW YORK, NY - 10/24/2017 /EASY NEWSWIRE/ — Behalf, an NYC-based FinTech, has released a new B2B study with revealing results. According to decision makers across Behalf's partner network, nearly 70% of B2B players have prioritized growing online sales as a top business objective. This represents a seismic shift for the B2B segment, whose sales force-centric business model has been rocked by the digital marketplace era.
The B2B industy has been slow to embrace e-commerce. However, the few companies who have led the industry in digital transformation are reaping the benefits. Online B2B sales are currently growing at a rate over 2X that of online B2C sales. Those successfully taking advantage of the online opportunity have invested in digitizing their product catalogue, enabling dynamic pricing modules, and offering credit/financing options at checkout. Even Amazon, a business built on a consumer model, has embraced business customer financing, having loaned over $3B to small businesses since 2011.
Relative newcomer Behalf specializes in turnkey solutions for business customer financing. Over 90% of Behalf partners surveyed for this study say that adding Behalf's on-demand payment terms at checkout has increased sales 10-20%. The full report is available here.
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