A B2B company's profitability is falling due to manual processes for simple tasks and increasing customer expectations. The problem gets aggravated with globalisation as your B2B customers can get products almost identical, reducing differentiation, and leaving vendors to compete on pricing. Competing on price isn't sustainable long-term. Focus on differentiating yourself from competitors, reducing manual labour, and meeting customer expectations. These are 3 strategic initiatives you can use as a B2B executive.
1. Putting an end to Manual Processes, Go Digital
Digitalisation and automation are strategies to reduce costs and boost profit. You can start a self-service B2B e-Commerce site where your B2B customer can make purchases directly instead of calling a sales representative. Our DSM Suite 2.0 frees your sales team from administrative tasks related to standard orders. Consolidation of orders from all channels into the CRM makes it easier for salespeople to manage. Sales can then provide a higher level of customer service, step into a consultative capacity and answer specific product-related questions.
2. Improving Customer Convenience and Personalisation
Traditionally, your wholesale distribution business has been based on offline methods, such as phone orders or face-to-face conversations. However, many B2B buyers are turning to e-Commerce because it is convenient, personalised, and is accessible. Putting products on the e-Marketplace or e-Commerce site is not sufficient. You must also be able to collect accurate information on the customers' needs and past purchases to offer them personalised products and promotions relevant to their needs. In other words, you want to become so valuable to your B2B customers that they'll stay with you. Reducing the time your customers spend on simple activities, such as reordering and making personalisation easy, will increase customer satisfaction and put you ahead of your competition.
3. Offering your products on e-Marketplaces
You can expand your B2B business to a new market or find new customers on e-Marketplaces. The customers on e-Marketplaces are likely to be unique to you. By tapping into e-marketplaces such as Shopee, Lazada, and Qoo10, which already have a large audience, you can get more customers for less. B2B inventory and pricing tracking can be tricky when you sell products through multiple channels, including e-Marketplaces. When your stock levels are not updated in real-time in your e-Marketplaces, it can oversell or undersell or even get unlisted. To avoid being penalised, use our DSM Suite 2.0+ e-Marketplace solution, which manages multiple online catalogues and pricing, and has inventory and sales order data synchronised with your ERP. Inventory and pricing can be centrally published for multiple e-Marketplaces, orders can be tracked, and improved stock accuracy.
Final Thoughts
Achieve data-centricity: integrated B2B e-commerce.
B2B e-commerce has the most powerful benefit of allowing you to streamline and automate time-consuming processes. What's even more powerful is a better understanding of your customers' shopping behaviour and previous resolutions when you integrate your B2B e-Commerce with your CRM/ERP system. Your eCommerce strategy can be optimised to deliver personalised shopping experiences if you keep tabs on your customers' buying patterns. By tracking visitors who leave without placing an order, you can optimise your marketing campaigns to reach them and convert them into customers. Through our DSM Suite 2.0+ BI & AI predictive solution, sales, probability of buying, and targeted discounts can be forecasted using machine learning algorithms and predictive analytics techniques.
Get a better start with Zooloo. Our team is happy to assist you with your journey towards digital transformation. Please contact us at sales@zooloo.asia.
- Find some tips on B2B Sales Strategies
- Looking closer at Marketing Strategies
- Read about The Digital Transformation Journey
- Learn more about our “Digital Backbones”
Tags: #CRM #MicrosoftDynamics #digitaltransformation #B2B #digitaladoption #digitalintegration #digitalsolutions #wholesaletradesector #wholesaletrade
