B2B eCommerce for Biotech
Struggling to keep pace with the market growth in Biotech?
Your market opportunity is growing rapidly. By 2023, bioprocessing, stainless steel, single-use, and medical equipment sub-sectors are each expected to be sized in the tens of billions of dollars. To compete, you need to reduce the time and effort required to get your products to those companies that are making a real impact on patient outcomes.
The challenge
The B2B buyer has changed, and you’re no longer meeting their needs
Today’s B2B buyer uses services like Amazon and Netflix in their personal lives and they’re demanding the same personalized, consumer-like experiences when they go to work. The selling process for your biotech products is built on hands-on relationships with labs, distributors, and clinics, but relationship selling is dying, and your competitors are focusing their efforts online.
US B2B eCommerce sales were forecasted to reach $1.8 trillion by 2023, accounting for 17% of all B2B revenue. But, in the wake of the coronavirus pandemic, when face-to-face meetings and business travel start to feel like distant memories, such predictions are likely to be a gross underestimate.
The solution
Serve up a consumer-like buying experience for your biotech buyers, regardless of product complexity
With B2B eCommerce, you can massively slash acquisition costs by reaching a global pool of potential buyers through search. You can provide a consumer-like experience to today’s labs and clinics who prefer to define their needs independently before engaging with a sales rep.
By embedding a visual product configurator on your website, your customer can independently “build” and buy the most complex, customizable, engineer-to-order systems without the need for sales or engineering input. They can interact with 3D representations of your products in real-time, adding or removing parts, changing colors and dimensions, and upgrading features. It’s a fully immersive experience.
“Our product configurator, powered by Epicor CPQ, allowed us to systematize our engineering experience to generate customer specific products within minutes, not weeks.”
“Before Epicor CPQ, our sales team would create quotes that didn’t reflect accurate pricing or engineering rules. They needed to submit them to the engineering team multiple times with multiple reworks until they were correct.”
“Organisations that get too comfortable with the status quo are at major risk of disruption…If you’re not asking questions about how your organisation is navigating and plugging into disruption, forming new ecosystems, and tapping into open markets, then your organisation is at risk.”
Featured Resource
Sales & Engineering Automation with CPQ: A Biotech Industry Guide
Learn how Biotech Single-Use and Processing companies are reducing their sales cycles to meet increased demand for their products.
Sales and engineering automation through the use of CAD drawings gives you this ability, providing sales reps with the visual outputs they need to win deals, without having to rely on an over-stretched engineering department that should be focussed on innovation rather than transactional sales tasks.
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