b-to-b

What does the new Internet Sales Tax decision mean to your business?

The Court’s decision in South Dakota v. Wayfair overturns a 1992 ruling, Quill v. North Dakota, that, in essence, made the Internet a tax-free zone. 

The latest ruling gives states broader taxing power that, according to various estimates, could allow them to reap anywhere from $8 billion to $23 billion more sales taxes annually. 

Currently, all but five states—Alaska, Delaware, Montana, New Hampshire, and Oregon—impose sales taxes. The ruling was a particular victory to South Dakota, whose law requires dealers with more than $100,000 in sales or 200 transactions per year in the state to pay a 4.5% tax on purchases, including those made with buyers in states where the seller might not have a physical presence. 

At least 16 other states have laws similar to South Dakota’s that would allow them to start collecting taxes from online sellers. 

Online retailers such as Wayfair and Overstock opposed the South Dakota measure because, they assert, smaller sellers would be hit with onerous compliance costs. 

What does this decision mean to your business?

Very few people understand the intricate implications, how to prepare for it and what are some solutions. Brian Fricano, CEO and Founder of Sustainable Supply is one of the few. He will join the Home Improvement eRetailer Summit to discuss, clarify and offer solutions to this recent federal ruling. 

            Brian Fricano, Founder/CEO                                     Sustainable Supply.com

            Brian Fricano, Founder/CEO                                     Sustainable Supply.com

Read more here http://www.eretailersummit.com/press-releases/

If you haven’t registered yet, please do at https://www.eretailersummit.com/eretailers-info/request-an-invitiation/ and take $300 off with code ATTEB because we all should understand what this decision means to our business and our market. Hope to see you November 7-9, 2018 at the Hotel Monaco Chicago in Downtown Chicago. 

 

Sonya Ruff Jarvis, is the Managing Member of Jarvis Consultants and Founder of the eRetailer Summit. Sonya has extensive experience in creating original innovative solutions to overcome major business challenges.  

Sonya has spent most of her career visiting headquarters across global industries and has built strong business relationships across diverse brands. 

Sonya has a M.B.A. in Marketing. She is married and has a daughter and they live in Fairfield County Connecticut.  

Follow Sonya on twitter at @jarvisconsult or @eretailersummit.  

Please follow the eRetailer Summit showcase page on LinkedIn here.

 

Guest Blogger, Julianne Will: B2B E-Commerce: Living Up to the Same Standards as B2C

Julianne Will, Writer/ Editor/Social Media Consultant & Founder, Local Universe

Julianne Will, Writer/ Editor/Social Media Consultant & Founder, Local Universe

Long gone are the days when a buyer was willing to make multiple phone calls and fill out written paperwork to research a purchasing decision. In fact, today's agents expect the Amazon shopping experience. Here are some important considerations.

Let’s start with a pretty stunning fact: In March of 2015, nearly half of all B2B researchers were millennials, according to a Think with Google report. “Back in 2012, there was a pretty even mix across age groups. In 2014, however, 18- to 34-year-olds accounted for almost half of all researchers, an increase of 70 percent,” the report stated.

It’s likely the number of millennials in this role has only increased. And millennials, who are largely digital natives, have been game-changers when it comes to technology.

They’re helping to drive a fundamental shift in today’s B2B buyer. Instead of talking to sales reps, “most B2B shoppers are 57 percent of the way through a new purchase before they reach out, and 93 percent prefer to buy online,” according to Shopify Plus, the customizable e-commerce platform designed for high-growth merchants, including B2B companies.

The growth is rapid, but there’s room for more: B2B e-commerce will reach $1.2 trillion in the United States by 2021 and account for 13.1 percent of all B2B sales, Forrester estimated in its June 2017 report “Landscape: The B2B eCommerce Playbook.”

That 13 percent might not be indicative of a lack of demand, but rather a reticence on the part of B2B organizations to commit more fully to e-commerce.

There are special challenges, of course. While purchasing agents are expecting the same sort of functionality, immediacy and ease of use for research and transactions that they experience in their everyday lives, manufacturers often need to manage dynamic pricing for different customers; the ability to request a quote; or real-time inventory figures, for example.

Fortunately, an increasing number of software solutions are allowing manufacturers to establish platforms that function much like the online shopping sites buyers are used to. Sana, a maker of e-commerce solutions for wholesalers, distributors and manufacturers, reported in October 2017 that of the top 10 channels cited by the 300 businesses they surveyed, three were some form of web store.

A robust and successful B2B e-commerce program will function much like the best B2C retail sites. Key is to apply traditional sales fundamentals to this new way of doing things. You’re still selling solutions. Can you categorize your products via use or application rather than type? Can you model after Amazon and populate a list of goods that “you might also be interested in” when a buyer adds a product to the cart? What about recurring items that can be saved to a “frequently bought” shopping list available to the agent the next time he or she logs in?

Whether you sell to a distributor or to a retailer, B2B e-commerce also is the ideal way to provide up-to-the-minute product information that can help sales downstream and increase loyalty to your company. What might your buyer need? Downloadable specs or signage? A sharable assembly or use video? Not only will this increase your market presence further along the sales funnel, but it also will make life easier for the B2B researcher--again, providing solutions.

The need for a solid reputation and impeccable service doesn’t change even if the means of researching and purchasing does, of course. Most wholesalers, distributors and manufacturers still will need to provide a diverse set of channels.

That might mean offering buyers a way to call with a more complex question than your site can answer. Sales reps might take on an increased relationship-building and service function, helping to identify other business needs that can be met by a company’s offerings or even visiting on site to see how products and product content are being used. Demos and shows still are a great way to offer researchers the ability to touch, taste and test a product. And complex products may require a pre-purchase visit from an expert to identify the right mix of solutions.

Julianne has been published in major metropolitan daily newspapers and national magazines, as well as written print and online copy for diverse industries including wine, fitness, food, travel, retail, banking, industrial technology, real estate, commercial paint and decorating, and more. She crafts strategy, creates profiles and serves as the voice of businesses on social media platforms including Instagram, Facebook, Pinterest, Twitter, YouTube and LinkedIn. Julianne also has launched a small ecommerce business retailing goods that give back.

Follow Sonya Ruff Jarvis, Jarvis Consultants, LLC on twitter at @jarvisconsult or @eretailersummit

Please follow the new eRetailer Summit showcase page on LinkedIn here.