How does Artificial Intelligence help B2B Sales?
Artificial intelligence (AI) in sales: AI helps customers and is rapidly revolutionising the world of B2B sales.
With the ability of AI to analyse vast amounts of data and make complex predictions, AI has the potential to improve the efficiency and effectiveness of sales teams significantly.
In the coming years, advances in AI, machine learning and digitisation will replace many of the time-consuming tasks that sales teams are performing today. This game-changing trend will also affect sales management. AI will redefine sales management.
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How to be successful in sales
In this article, you will learn the top seven traits and characteristics to succeed in sales.
Let's jump right into the topic and clear up some prejudices about salespeople.
Specific skills, attributes, and technical support are required by companies to be successful in sales.
We'll now go through the top seven features and discuss each in depth below.
How to Realise Sales Potential with Cross- & Up-Selling in B2B Sales.
Cross-selling (also known as cross-selling) the sale of an additional product or service to an existing customer. Targeted and individually adapted to the needs of the customer, cross-selling increases customer satisfaction and is a service-oriented way to increase turnover.
"Cross-selling" offers a possibility to use internal synergy potentials and to open up rapid, attractive growth opportunities.
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The Top Challenges Facing the Wholesale Trade in Germany
What are the challenges faced by wholesalers in Germany from the point of view of their salespeople?
The wholesale trade in Germany is a vital sector of the economy, generating billions of euros in revenue per year. According to the Federal Statistical Office, the number of companies in wholesale trade (excluding trade in motor vehicles) in Germany has fallen continuously in recent times, most recently to around 135,000 in 2020. Turnover in wholesale trade also dropped this year to approximately 1.24 trillion euros.
SMEs represent around 99 % of all companies in wholesale in Germany. Among them, speciality wholesaling, also called specialist wholesaling, focuses on a specific product group and does not offer a wide range of products, as with assortment wholesaling.
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How to Define and Reduce Customer Churn in B2B Sales
Customer churn in B2B refers to a portion of subscribers or contract customers who change suppliers during a certain period of time. In B2B practice, some churn goes unnoticed for a long time or is only detected when it is already too late.
Have you ever wondered how you can reduce the likelihood of churn and target B2B loyalty programmes?
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How to Define and Increase the Lifetime Value of your B2B Customers
Customer Lifetime Value Definition for B2B.
Sales and marketing B2B experts define customer lifetime value (CLV or often CLTV), lifetime value (LTV) or lifetime customer value (LCV) as the net profit attributed to the entire customer relationship. Sales practitioners usually referred to this value as predicted, yet it can also be a historical value.
For business-to-business sales managers and marketers alike, the ability to calculate what customers are worth is hugely appealing. That is the reason why customer lifetime value is prevalent in so many industries nowadays. CLV represents a quantitative metric and brings a long-term perspective to customer relationships.
The different kinds of Wholesale Businesses
Wholesale businesses are all around us. From fueling the dropship revolution to supplying critical pandemic supplies worldwide; wholesalers are an important part of our economic infrastructure.
Research Germany explains, “the German wholesale and retail trade represents an annual turnover of 2.19 trillion Euros and 6.4 million employees. There are about 150,000 wholesalers and about 300,000 retailers.”
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The Future of B2B Sales - How Digitalisation influences Sales
High-quality technology and predictive sales software are the future of B2B sales. In the next five years, more and more companies will change the way they work through digitalisation and the use of new sales analytics software.
Digitisation that is customised to businesses is now part of the foundation of every company and lays the groundwork for success.
If you are interested in the impact and influence of digitalisation in B2B sales, then register for the following course: "B2B Sales of the Future - Influence of Digitalisation".
The Role of Artificial Intelligence in B2B e-Commerce
The rise of E-commerce in B2C is mind-blowing. For example, the online giant Amazon made revenues of almost half-a-trillion dollars for the twelve months ending September 30, 2022. And as the number of physical shops declines, e-commerce is becoming increasingly important.
Take Germany. Between 2015 and 2019, 5,000 physical shops were closed yearly in the country. Between 2020 and 2022, up to 47,000 more shops and branches will follow. Meanwhile, online sales are booming. In 2015, online sales were €39.9 billion, but by 2021 they had risen to €86.7 billion, with a forecast of €97.4 billion in 2022.
Predictive Analytics in B2B Sales - What it is and how to get Started
Predictive analytics technologies are becoming increasingly popular and are already being used today, especially by wholesalers and manufacturers in business-to-business (B2B) sales.
Perhaps you have already made some elaborate attempts to implement predictive sales analytics with Excel or other spreadsheet programmes. Then you've come to the right place.
Predictive Sales Analytics is a modern technology to look into the future of your sales. Using machine learning methods, Predictive Sales Analytics allows you to make accurate sales forecasts: Customer churn forecasts, cross-selling forecasts and dynamic pricing.