Wholesale as a Success Factor: Modern Customer Relationship Management

 
Wholesale distribution plays a critical role in the modern economy, linking manufacturers and retailers.

Successfully capturing markets and retaining customers is, therefore, central to the growth and stability of a wholesale business. Although the market is highly competitive, there are innovative strategies that companies can use to capture markets and retain customers for the long term.

This article focuses on the key factors that have become essential to success in wholesale distribution, such as well-managed customer relationship management, its importance and what it entails.

It answers why modern customer relationship management is necessary, what systems and alternatives midsize wholesalers need, and why implementing an entirely new CRM system can disadvantage midsize wholesalers.

In addition to the well-known pricing strategies, you will also learn about the role of predictive analytics in pricing, especially for mid-sized wholesalers, why these companies can also reduce their churn rate through predictive analytics, and why AI is necessary.

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Ist KI gefährlich

Is Artificial Intelligence (AI) dangerous?

As with any new technology, there will be experts that are for and against it.

Today, we’ll explore the subject of artificial intelligence more fully. What concerns are there in relation to AI?
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Roboterpsychologie

Robot Psychology: How do Humans react to Robots?

 
In this article, you will learn what "robot psychology" is, how people react to robot technology, and how anthropomorphism plays a role.

Almost in slow motion and deliberately, as if it had been deep in thought, it lifts its head and opens its eyelids. Brightly awake eyes in crystal blue are revealed. They are kindly turned towards their counterpart, just like its face, whose forms stand out discreetly against a snow-white sheen. But it is the facial expression, the intense inquisitive look on its face, that makes this creature truly fascinating. It bends its head towards its creator in a seemingly loving manner and asks him in a velvety voice about the events of the world and the meaning of its existence.

"NS-5" - a fictional humanoid robot type in the science fiction movie "I, Robot" (2004) - is the only robot in this story to have an additional central processing unit for emotions in addition to its logical central processing unit. But NS-5 has yet to learn how to deal with emotions properly, how to classify and understand them...
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Correlation does not equal causality - KPIs in Sales

Watch your step! Sales managers and managing directors in B2B confuse correlation and causality.

Data-based decisions in sales are not always ad-hoc better than intuition. The reason for this is the frequent confusion between the terms causality and correlation.

How nice it would be if managing directors or sales executives regularly knew why something happened. Why individual customers churn; why one product does not sell well or sells more than others; why in the end a promising sales lead does not become a customer, regardless of how good our salespeople are.

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Kundenanalyse: Verstehen Sie das Kaufverhalten Ihrer Kunden?

Predictive Sales Analytics: Can you anticipate your customers’ journey?

Nowadays, new technologies enable a highly detailed understanding of the way customers buy, fancily known as “digital customer journey”. They also allow a cost-effective application of predictive analytics in Business-to-Business (B2B) sales.

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Künstliche Intelligenz Software Entwicklungskosten

Artificial Intelligence Software Development: The True Costs.

 
The question is no longer "if" a B2B company will implement artificial intelligence (AI), but "how".

AI tools enable more efficient work in many areas. B2B sales is no exception. Artificial Intelligence Sales Software saves time, stress and costs, while improving customer lifetime value and experience.

Companies that do NOT adopt AI-powered tools will be significantly more inefficient than their competitors and will be left behind.

Since you are here, my guess is that your already know that. For that reason, let’s focus on the “make or buy” decision and park the benefits of AI-powered software in another article.

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Artificial Intelligence in a Salesman of Construction Machinery

Artificial Intelligence in a Construction Machinery Company

Artificial intelligence technology can be used in a wide variety of areas. In this article, you will learn how AI was used in a mechanical engineering company.

I've already written a few posts on this blog about Artificial Intelligence (AI) in sales. Simply a fascinating topic for an old sales hand like me who has worked with several different CRM systems as well as sold AI systems.

For someone in sales, the area of predictive analytics is particularly interesting - an AI is able to predict sales opportunities. That's why I report on a specific case study below.
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Applications of Machine Learning

Applications of Machine Learning in the Real World

Learn about four real-world applications of machine learning here.

When you travel to a new country, have you ever had to translate a word quickly? Or how about when you are sending a reply to an email using the Gmail application? Do you notice that there are recommendations of what to reply? The examples above make use of machine learning.

From computerized translators, to email recommendations, as well as movie suggestions on Netflix, to autonomous cars. All of this is possible due to machine learning. But what is machine learning?

Machine learning is a concept that falls under the category of artificial intelligence. It is the process by which computers change the way they perform tasks by learning from new data sets. In this process, algorithms mimic the way humans learn to gradually improve their accuracy.
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Wie Sie Predictive Analytics in Ihrem CRM für datenbasierte Entscheidungen nutzen können

How to use Predictive Analytics in your CRM for Truly Data-Driven Decisions?

 
Successfully implementing Predictive Analytics for data-driven decisions in your CRM requires more than just software.

Every successful sales team wants to become data-driven. Companies that successfully execute predictive analytics in their CRM are easy to identify.

They take care of their salespeople and successfully utilise their current data and processes. They employ the standard software and adapt them to their situation. Finally, they introduce Predictive Sales to CRM step by step and learn from their experience.

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AI in CRM

Why a CRM System with Predictive Sales Analytics and AI?

 
CRM and Sales Analytics: In this article, you will learn what you can expect from a CRM system with artificial intelligence.

Using CRM systems have long been a common practice in large companies today, even if not always successfully implemented. Small and medium-sized enterprises (SMEs) often still have some catching up to do.

Meanwhile, the next expansion stage has long been underway. Predictive sales analytics/artificial intelligence (AI) is being added to the CRM systems.

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