Sign-up...NOW! We always want sign-ups to happen as soon as possible, because that means business. But does it mean legal business? If your customers are signing up online and aren’t being prompted to accept your legal terms before sign-up confirmation, it might not.
If you're selling nearly any service or product online, there's probably a better-than-not chance that you've dealt with chargebacks, or you're going to soon. A 2012 JP Morgan survey on the subject of online payment fraud found that merchants lost over $1.5 BILLION to chargeback disputes in a single year alone.
Just about every company has an e-commerce aspect attributing to their success now, and it’s not by mistake. This strategy is effective because it positively enhances multiple facets of a business. E-commerce isn’t dropping by the wayside any time soon, and here are a few of the key reasons why:
Recording important things isn’t new; glancing through history there are hieroglyphics, cassettes, tape, and now, digital cloud storage. Think of the giant filing cabinet in your parents’ house with any document you could ever possibly need (and all the ones you don’t) that sits there just in case. Having all of the records in that filing cabinet isn’t a bad thing- you may need something in there at a time undisclosed to you. Keeping everything on file may seem overzealous to most, but there is something to say about being safe rather than sorry - hence why thousands of people across the globe refuse to throw away anything that might seem important. That’s the foundation to understanding what a Legal System of Record is.
With services like Uber, TaskRabbit, Blue Apron, and Trunk Club, smartphones have turned into our one-stop-shop for a self-service mindset for customers. This trend of a self-serv economy has become the general expectation and soon, it will no longer be considered innovative for B2B SaaS companies. In order to achieve that one of a kind experience, every service or product purchased should start to be delivered immediately.
According to Forrester, the 2019 B2B e-commerce market’s worth is estimated at $1.1T compared to
the B2C market at $480B. This study showed that the two industries generating the majority of market growth are manufacturers and wholesalers. But we know that it doesn’t stop there. Business models are being poked and prodded as distribution channels evolve and pricing becomes even more dynamic. So yes, B2B e-commerce is everywhere; even places you wouldn’t think to look.
Here is a list of companies that use e-commerce without the majority of people even realizing it.