Five interesting Facts & Statistics About B2B Distribution
B2B Sales is changing because buyers are changing – mainly in the way they buy. Companies in B2B distribution are particularly affected by the changes in customer behaviour and their competitive environment. The shift in customer behaviour is the primary driven-factor behind the digitalisation of sales.
How to define customer churn in B2B?
B2B Churn Rate: Definition and Calculation.
Business-to-Business (B2B) companies depend on building and developing long-term relationships with their customers to be financially successful.
However, over time, some customers will stop buying or will defect to the competition. Sales managers define this situation as “churn” or “customer attrition”. Managing and reducing customer churn is one of the most important, yet sometimes overlooked job of the sales leader.
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Customer Attrition in B2B: loyalty as a sales growth booster
Predictive analytics for customer retention plays a critical role to accelerate sales in Business-to-Business.
Building customer loyalty successfully and efficiently is what makes business-to-business companies thriving on the long-term. These market leaders actively engage in customer retention prediction. In the end, reliability lives from common purpose, and not from passive “wait and see”.
Furthermore, for companies that are focused on achieving stable and foreseeable sales growth, B2B loyalty programs are unavoidable. Nobody can reliably grow a customer base in the absence of customer retention predictions.
Strength in price setting is your profit driver number one
Everybody knows, B2B pricing analytics represents one of the most critical levers to boost earnings. Still, this reality is a sometimes-overlooked fact in Business-to-Business (B2B).
However, getting B2B pricing right can represent both financial success and substantial competitive advantage. Pricing is not only a driving factor in for-profits, but it also impacts how customers and markets perceive brands.
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Industrial distribution: Identify potential for cross-selling with predictive analytics
How wholesalers and distributors recognize cross-selling potentials with predictive analytics.
Many manufacturers now sell their products directly to end consumers via web marketplaces. Unfortunately, wholesale trade and industrial distribution are coming under increasing pressure as a result.
Calculating cross-selling potentials using modern data mining can be a suitable strategy for keeping pace with the competition.
A glance at the analyses of the Federal Statistical Office shows that almost 90 % of Germans make online purchases at least once a year.
Shakespeare is dead! Let machine learning bring intelligence to your text.
One first-hand example of predictive text scoring and sentiment analytics using machine learning.
We are always looking for a way to bring machine learning to ERP-Systems. Companies can apply a Predictive Scoring using Machine Learning to prioritize sales leads, discover cross-selling opportunities and to classify text.
To support the efforts of our B2B marketing team, we invested time and resources, developing a machine learning scoring system for our blog content.
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Predictive Analytics CRM - A New CRM or Predictive Analytics? What comes first?
The top 3 reasons why successful companies avoid changing their CRM and use Predictive Analytics instead
Implementing a new Customer Relationship Management System (CRM) is a minefield for B2B companies. These projects tend to last longer than planned and cost more than budgeted. In many cases, they fail altogether.
CRM vendors are quick to oversell the utopian benefits of their solutions. Companies buy them in good faith without clear and measurable expectations.