Distributors, wholesalers, and manufacturers rely on numbers to run their businesses. From receivable accounts to inventory counts, data collection and analysis is both crucial and tedious. Even if sales are streaming in, do you understand the impact that sales performance has on your business? If not, sales metrics can clue you in on what is working and what isn’t—and how you can navigate these obstacles to sustainably grow your business.
The presence or absence of customers often determines the success of a company. While having more customers doesn’t necessarily equal success, customer loyalty does. Customer loyalty is a hallmark of successful customer relationship management (CRM).
Staying on top of the success of your business requires knowing everything about your customers’ wants and needs. Because of this, you need a CRM database to manage this treasure trove of information.
When it comes to B2B sales, information is king. However, the information needed isn’t about your products or services. Successful sales come from using data analytics to learn more about your customers and current market trends.
For example, let’s look at how Netflix uses data to enhance its customer experience. Netflix collects subscriber viewing information to create personalized recommendations for each user. They also use data analytics to gather insights on which shows their audience likes or dislikes. Netflix uses these insights to decide whether to greenlight or reject a new movie or series pilot.
Micromanagement is something many do, but few admit. It’s one of the foremost examples of good intentions with often negative consequences. Especially in field sales management, micromanaging is rarely necessary.
Industries and big companies aren’t the only ones that can profit from mobile apps; small businesses and niche markets like the wine industry are benefitting in a big way. Mobile sales apps account for 86% of smartphone use. These compact platforms give wineries a virtual version of their cellar and storefront that can increase their customer numbers and drive sales.
Skynamo – the leading provider of field sales software for distributors, manufacturers, and wholesalers in the building materials and hardware industry – carried out an extensive survey.
The point of the research was straightforward enough. It was to uncover the truth about what B2B sales companies struggle with, what works for them from a technology and sales point of view, and how they fare in this post-pandemic marketplace.
When determining the most appropriate sales strategy for their teams, B2B companies often use customer sales records. This approach collects data, analyzes it, and then uses it to maintain accurate customer databases.
Tracking this data can help you to monitor your company’s performance among specific demographics and target users. You can then use this information to tailor a sales strategy that optimizes resources and fosters growth for your business.
In an ever-increasingly digital world, personalised customer relationships are crucial for business success and quality data bridges the gap. However, according to a recent study on the State of Customer Relationship Management (CRM) Data Health, 44% of respondents estimate that their company loses over 10% in annual revenue due to poor quality CRM data which results in the loss of customers.
If you own a buy-and-sell business, chances are you’ve probably run into a sales order before. A sales order is a document used to confirm the price, quantity, delivery date, and features of the products and services purchased through a sale. B2B sales ordering is beneficial to sellers because it helps them track both their inventory and buyer orders.
Now that employees have experienced remote working, many don’t want to return to the office, leading companies to opt for hybrid work.
Having access to information while out on the field is an invaluable resource for salespeople. Yet, until recently, they didn’t have the luxury of cloud computing. Instead, they often had to burn time and money getting pricing and inventory details from the office. Once back at headquarters, employees had to re-enter the order details into the computer manually.
The food and beverage industry is known for tight margins and stiff competition. To compete, succeed, and then maintain that success in this $6,383.49 billion industry, all business components need to work together seamlessly.