In this article, we want to talk about what the wholesale business is currently facing (many challenges and changes that require adaptation, as well as process optimization) and what it is betting on in its development.
Traditional approaches to working with wholesale buyers are not as effective as before, so companies are switching to new technologies and strategies – building B2B sales systems.
Peculiarities of B2B sales
Wholesale sales differ from retail sales in the following ways:
- long-term relationships. B2B clients prefer to contact one (long-familiar) supplier of services or goods over a long period of time, which is why it is important to build long-term and trusting relationships;
- complex sales funnel. In the B2B segment, the decision on a deal is made by a group of people, which complicates and lengthens the process of its adoption;
- the influence of personal relationships. The quality of the personal relationship between the seller and the wholesale buyer matters (trust and loyalty can influence the success of the transaction).
The B2B sales system performs a number of functions to automate processes and improve work efficiency:
- customer relationship management (CRM). The system allows you to track the history of communication, save information about transactions and contact details;
- Marketing tools. The B2B system provides opportunities for conducting marketing campaigns, analyzing results and tracking the effectiveness of advertising campaigns;
- analytics and reporting. The system collects and structures information on sales, profits, costs, and other indicators, which helps make informed decisions and adjust development strategies.
Benefits for business from implementing a B2B system:
- Optimization of business processes. The system allows you to automate routine tasks, such as processing applications, managing contacts and mailings, which frees up employees’ time for other tasks.
- Improving the quality of communication. The B2B system ensures rapid exchange of information between employees and clients, which contributes to the growth of interaction efficiency and reduction of decision-making time.
- Increased Profits: Business automation and improved communication contribute to an increase in the number of transactions and overall efficiency.
Funnel (stages) of B2B sales system
Lead Generation
Lead generation in the B2B segment is the process of attracting potential customers who are interested in your services or products. B2B customer acquisition tools include:
- Direct communication: personal meetings, business connections, seminars, conferences, forums, business acquaintances.
- Internet marketing: website creation, landing page, targeting, media advertising, content marketing, online webinars, YouTube channel, promotion in social networks, thematic chats in messengers.
- Direct marketing: email newsletters, SMS newsletters, messenger newsletters, postal mailings.
- Media coverage: radio, TV, outdoor advertising.
- Partnerships: building partnership programs, cooperation, cross-marketing.
The most popular tools may differ across industries. For example, in IT and telecommunications, email newsletters, webinars, and partnerships are often used, while in banking, face-to-face meetings, business connections, and media coverage are common.
The main difference in promotion in the b2b segment is the length of the funnel and the speed (slow) of decision-making. This is important to consider when developing a promotion strategy. We can do this, here are a couple of our cases for review:
- Case: An integrated approach to pharmaceutical online marketing and a 45% increase in pharmacy revenue
- Going online and attracting b2b clients for a manufacturer of industrial gripping systems
Communication with clients (consultation plus selection of solutions)
Once potential customers have shown interest in telemarketing data your product or service, the active engagement stage begins. This stage may include the following activities:
- conducting presentations;
- product demonstration;
- provision of additional information;
- Answers to customer questions.
At this stage, your company’s specialists conduct a detailed analysis of the client’s tasks and offer the most suitable solutions. This may include developing individual offers, adapting products to the client’s unique requirements, and providing additional services.
Conclusion of the deal
Once the customer has made a decision to purchase, the deal is concluded. This stage includes signing the necessary documents, agreeing on the terms of delivery and payment.
Further support of the client
This stage includes customer support after the purchase, ensuring quality service and resolving any issues that arise. This helps to strengthen the relationship with the customer and increase their loyalty.
Each of these stages requires careful preparation and planning.
Technologies and tools used in B2B sales
CRM systems for managing customer base
CRM allows you to effectively collect, store and analyze customer data, which in turn helps build long-term relationships with partners and increase sales volumes. Various functional capabilities of CRM systems allow you to automate customer service processes, improving service quality and increasing sales efficiency.
Examples of the most popular CRMs:
- AmoCRM is a cloud CRM focused on optimizing sales department business processes. It includes three tariff plans, easy integration of third-party modules, and a free trial period of two weeks. AmoCRM is suitable for small startups and young companies that want to automate their sales department;
- RetailCRM is a CRM for automating processes in retail trade. There are several tariffs, availability of integration with cash registers and mobile devices, united states business directory as well as the creation of individual reports. RetailCRM is suitable for stores, retail chains and online stores that want to optimize sales and customer management;
- CRM Bitrix24 is a multifunctional CRM system designed to automate business processes and manage customer interactions. It offers various tariffs, integration with 1C and a boxed version for maximum data protection. B24 is perfect for large companies and large-scale content abuse holdings that want to control all internal processes.