The Top 3 Predictive Sales Analytics Software for B2B Wholesalers in Germany
The rise of e-commerce has put much pressure on B2B wholesalers in Germany to optimize their sales strategies. With around 5,000 to 10,000 customers with 20,000 to 100,000 articles, it is challenging for wholesalers to predict customer behaviour, find the optimal price for each customer and profit from cross-selling chances.
That is why, for example, leading companies such as High Precision Components Witten GmbH, KIS Antriebstechnik GmbH & Co. KG, Armbruster Engineering GmbH & Co. KG and X-Bond GmbH & Co. KG have created a research consortium together with the Chair of Industrial Sales and Service Engineering (ISSE) and the Sales Management Department (SMD) at RUB.
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How Artificial Intelligence improves Sales Forecasting
Creating and using AI sales forecasts is essential for any B2B company. It is also one of the most important tasks for sales managers who use sales forecasts for sales planning and strategy.
There are many ways to create sales forecasts. From sales rep surveys and estimates of future sales to rule-based Excel calculations or business intelligence applications. But the most unbeatable predictions use artificial intelligence. This article discusses why this is the case.
Roughly speaking, sales forecasts help companies gain some planning certainty in an uncertain future. The goal is to allocate resources efficiently, save money and costs and increase sales.
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Data Mining ERP in B2B Wholesale & Distribution
B2B sales managers and managing directors of specialised wholesalers in Germany face many challenges in today's competitive business environment.
The rise of e-commerce has made it necessary for wholesale distributors to leverage data mining in ERP to stay ahead of the competition.
By analysing wholesale customer data and implementing artificial intelligence in their ERP, B2B wholesale distributors can gain valuable insights into customer behaviour, identify the most profitable products, and find the optimal final price for each customer. They can also retain customers before they lose them.
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How to Predict Customer Churn in B2B with AI
For businesses selling ad-hoc, it's hard for companies to predict customer churn. That is in contrast to as-a-Service subscription-based businesses for whom identifying at-risk customers is more accessible right from the initial sign-up.
SaaS businesses benefit from constantly updated, deep, live client usage statistics in the free trial and beyond when they become subscribers. They build AI-based churn prediction models on historical data tracking how often clients log in and what features they use.
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How to Implement AI-based Assistants in B2B Sales
You are considering implementing AI-based predictive analytics in your sales organisation. Are you convinced that this type of technology will give you a competitive advantage?
Then it is good to know what steps and what decisions you will have to make if you want to use an AI-based assistant in sales. AI enables you to make data-based decisions in sales. At the same time, AI-based assistants in sales do not replace sales staff. Instead, this type of technology supports and enhances the skills and capabilities of your team.
Artificial Intelligence in Wholesale
AI in Wholesale Distribution is a great opportunity and a challenge at the same time. In this article, learn about concrete use cases of AI in wholesale and their benefits.
Wholesale companies are an indispensable part of the economy. They represent an essential link between the economic levels of industry, trade, and retail. A quote from the Frankfurter Allgemeine Zeitung describes the situation of wholesale companies very well:
"The former pure delivery wholesale, which brought the goods of the industry to the retail trade, has become a modern service provider facing additional challenges. The modern wholesaler takes over warehousing, does shelf maintenance, acts as a lender and advises its retail customers on assortment issues."
How to Improve your Pricing Policy with AI – Predicting Pricing
Most companies in the B2B sector have so far adjusted their prices based on factors such as production costs, competitive prices and supply and demand.
Especially in the current situation, both wholesalers and manufacturers are struggling with rising raw material prices. How can you pass on such a price increase without losing all your customers?
Dynamic pricing through AI-based predictive analytics, acts on a pricing strategy where companies can additionally adjust their prices for products and services based on the current customer and market situation. Thus, it is possible to make individual price adjustments per customer and product.
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 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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