Few distributors try to predict customer churn. Those that do, get it wrong because of how they define churn. The problem lies in how they define a “lost customer.”
With the right technology, sales teams can produce better results — for the customers, the sales reps and your bottom line.
Many distributors are using product recommendation engines on their ecommerce websites originally designed for B2C. This isn’t sufficient for a distributor’s business model.
Today, distributors can choose from an array of sales tools that all promise data-driven results. In theory, this should help distributors understand their customers and enhance their sales processes. In reality, however, many of these “smart” sales solutions end up causing more problems than they solve.
Amazon Business is projected to make $52 billion in sales by 2023. For distributors to fend off this AI-powered giant, they’ll need to understand and adopt AI strategies of their own.
Marketplaces are among the most successful business models of the modern era. From Amazon to Google to Grainger’s Zoro, there’s clearly good money in the marketplace.
Here’s why hybrid models are ideal for this new sales landscape, how outside sales reps are primed to dominate this disrupted environment, and what tools including AI they’ll need to do it.