Forrester Research analysts predict that by 2019 manufacturers and wholesalers will account for a combined 30% of spending on e-commerce technology, compared with a forecasted 28% share of spending by online retailers. So how should you prioritize your e-commerce investments? That largely depends on the maturity of your current system.
If you’re currently offering a basic, no thrills e-commerce experience, you’ll likely benefit from making investments in the following capabilities:
- Content management system
- Dynamic cross-sell/up-sell
- Multiple shipping options
- Contract & tiered pricing
- Multifaceted Search
- Shopping lists
If your e-commerce system is more advanced from a customer experience perspective, you’ll likely benefit from making investments in:
- Business Intelligence
- Integrating back end systems; ERP, inventory, fulfillment, CRM, etc.
- Custom product development self-service
In general, you should invest in marketing features and customer experience first and then in creating efficiencies that increase profitability.