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.