Driving massive revenue growth with B2B eCommerce

Needed: Enterprise-class B2B eCommerce, ready to scale from $100M -> $500M

Our client is a Fortune 1000 manufacturer which produces adhesives for use in numerous verticals. They are experienced in B2B eCommerce, and they know what it takes to capture significant market share in the digital world.

The company had audacious goals. They wanted to replatform off of SAP’s WCEM (Web Channel Experience Manager) onto a scalable enterprise-class solution—PLUS grow their digital channel from $100M to $500M/year.

Needed: Hands-free SAP integration to process $500M+ in annual orders

Our client already knew the table stakes for a competitive eCommerce experience in the age of Amazon: intuitive UX, smart product search, cross-sell/upsell capabilities, and easy workflows for browsing, buying, order tracking, and invoice payments.

Yet beyond their basic search criteria, our client had a bigger priority. They needed to move $100M in existing digital revenue to the new platform—then grow it 5x.

To facilitate this, they needed a B2B eCommerce solution that could post $500M+ in annual orders to SAP, hands-free, with all relevant SAP business rules and personalization enforced on every order.

A Smooth Path To Replacing A $100M Web Channel And Growing It 400%

At a minimum, our client needed to replace their web channel technology without losing any revenue. That meant the Corevist Platform had to delight existing eCommerce users.

But the new solution also had to support our client’s audacious growth goals. That meant transitioning existing business from ordering channels like phone, fax, and email, where customers were used to getting a personalized ordering experience with contract pricing, real-time inventory availability, and more.

Corevist Scale was an ideal fit. With all ERP business rules enforced in the web store, it creates a personalized experience for each and every user, with 100% accurate contract pricing, inventory availability, and more. This seamless experience took out all friction in transitioning from phone/fax/email to eCommerce, and it was the perfect match for our client’s growth goals.

Prioritizing value through
Corevist’s Agile rollout methodology

Across a series of focus groups, we asked our client’s real customers a provocative question: “Why can’t we put this software into production today?” This question helps us uncover the things your dealers & distributors actually want in an eCommerce solution. It’s how we ensure that Corevist delivers the things your users need, no bloat included.

For our client, this focus group methodology was critical in determining the needs of a much broader potential user base. Rich content for browsing and product education was the key to reaching this larger user base. By testing the entire experience with these customers, our methodology ensured that our client’s new B2B eCommerce solution would not only retain existing revenue throughput, but grow it by 400%.

Our client’s web channel is growing fast. Not only have we replaced the company’s $100M in annual eCommerce revenue ($25M/quarter), we’ve grown it 204%. After transitioning to the Corevist Platform, the company has posted revenue gains every quarter, with $59.6M and $76M in the last two quarters, a growth rate of 27.5%. Our client is already on pace to do $304M through B2B eCommerce this year. They should surpass their goal of $500M in less than two years on our platform.

Key metric: 19% eCommerce conversion rate

A 19% conversion rate looks incredibly high if you come from the world of B2C eCommerce. It’s actually a bit low in B2B—our clients often see 25-80% conversion rates, depending on user type.

But for this client, 19% CR tells a different story. It means that 4/5 people who log in are looking at product content, researching, tracking their orders, and paying invoices. They’re using the Corevist Platform for more than just the transaction. The B2B eCommerce portal has become their go-to resource for all their interactions with the client. That leads to greater brand stickiness, more revenue from each account, lower cost-to-service, and greater customer satisfaction.