08 June 2023
Caterpillar's B2B Ecommerce Journey: A Model for Success
Caterpillar, a leading manufacturer of industrial equipment, has been on a long journey to establish a successful B2B ecommerce business model. With 2022 sales and revenue of $59.4 billion, the company has been selling online since 1999 and has hit a milestone of $10 million in dealer online parts sales daily.
Caterpillar's Ecommerce Business Model
Caterpillar's ecommerce business model is focused on creating integrated and seamless experiences for its customers that help them be more efficient. The company has been expanding its ecommerce portfolio to include construction machines, which has been a complex process due to the high cost of the machines and the need to sell the value of the machine and give customers confidence in making an online purchase.
To achieve this, Caterpillar has bundled parts, products, and services with the sale of their machine and has integrated with Cat Financial for financing options. The company has also collaborated with its marketing leaders to create a marketing plan that would introduce the new experience to users, which comprised a mix of paid media, social media, and email marketing.
Caterpillar's ecommerce business results.
Caterpillar's ecommerce business model has been successful, with the company selling $10 million worth of parts online to dealers every day. The company's next task in ecommerce is to develop additional features that facilitate online search and purchase to ensure that customers find the right parts and services for the job.
By expanding digital integration with the dealer network through new APIs, Caterpillar is focusing on creating greater visibility and last-mile delivery options. The company's ecommerce products enable dealers to sell more than $10 million worth of parts to users per business day.
Caterpillar's ecommerce journey is a model for success in B2B ecommerce. The company has been able to create an integrated and seamless experience for its customers, which has resulted in $10 million in dealer online parts sales daily. By expanding its digital integration with the dealer network, Caterpillar is focused on creating more visibility and options for last mile delivery. Caterpillar's success in B2B ecommerce is a testament to the company's commitment to creating value for its customers and leveraging technology to achieve its goals.
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