Investment in e-commerce can be pricey, but for most distributors the cost is necessary for customer retention and growth, according to Jonathan Bein, managing partner at Real Results Marketing, in The Cost of Not Providing E-Commerce.
Many distributors don't realize that losing a few percent of revenue due to not participating in e-commerce can add up quickly and may end up being 10-15 percent of lost revenue after four or five years, Bein says. “And that’s a strong current to swim against.”
According to Bein, the expense related to e-commerce is a common excuse for not pursuing it, as well as being too busy and lacking the necessary expertise, among others.
However, e-commerce solutions are becoming easier and less expensive than ever to deploy. And even though building a site that meets customer demands can still be costly – often upward of $250,000 – the investment is necessary for many distributors to compete in today's market.
Read more about why distributors are still contemplating e-commerce and the consequences of not aggressively pursuing it in The Cost of Not Providing E-Commerce.