Leverage digital tools and a customer-centric strategy.
Distributors have traditionally relied on personal relationships and traditional sales channels to grow their business. Times have changed.
With the proliferation of digital technologies, smart distributors recognize the importance of leveraging digital innovations combined with customer-centric strategies to improve operations, beat the competition and very importantly, gain market share.
Digital innovations continue to transform many industries and distribution is no exception. The use of advanced analytics, automation, and artificial intelligence is enabling distributors to optimize their supply chain, increase operational efficiency and improve their customer service.
One of the most significant digital innovations in distribution is the use of e-commerce platforms. E-commerce has revolutionized the way customers interact with wholesalers, making it easier and more convenient for them to place orders and receive deliveries.
B2B e-commerce sales in the US are expected to reach $3 trillion by 2027.
Forrester, 2022 B2B E-Commerce Forecast, US
Developing and implementing an e-commerce strategy that meets your unique needs and objectives will be a differentiating factor for businesses looking to capture more of the growing market share. Start by identifying your audience and then analyze, understand and leverage their buying habits and preferences. By utilizing intentional technology distribution options built for e-commerce to realize your goals.
Read more about effective e-commerce tactics.
By leveraging data analytics, distributors can gain deep insights into customer behavior, optimize their supply chain and make data-driven decisions. According to a report by McKinsey, companies that leverage data analytics outperform their peers by up to 20%.
Ensure that you are utilizing the latest analytics tools and that those tools are well integrated for quick dissemination of information to relevant teams. The ability to digest and make useful decisions based on data is critical. Understanding customer behavior and optimizing supply chains to be in service to the customer will continue to set your business well apart from the competition.
By having a comprehensive digital strategy now, you will be afforded the ability to predict the impacts that arise from ongoing digital transformation, plan for success and best serve your customer.
While digital innovations are transforming the distribution industry, it is essential to remember that customers are at the heart of any successful business. Customers have more options than ever before, and their expectations are higher than ever.
A customer-centric strategy focuses on the customer's needs and preferences, tailoring the experience to meet those needs. This involves personalizing the customer experience and providing exceptional customer service, things like removing barriers to rapid purchasing.
91% of business buyers say the experience a company provides is just as important as its products and services.
Salesforce, State of the Connected Customer report
To predict customer needs and create ideal experiences, a deep understanding of your ideal customer is required. The businesses that grow most effectively create target personas, understand specific behaviors and document the results as part of the business and brand guidelines. This allows the ‘brand experience’ you want all customers to have to be effectively communicated to all members of your organization.
Read more about customer experience strategy.
Digital innovations have transformed the distribution industry, and smart business leaders must embrace these changes to stay competitive. It is equally essential to maintain a customer-centric mindset to ensure that their needs and preferences are at the heart of your new experience — an experience which must remain consistent and ‘on-brand’ for your company, your staff and your offer.
Lovely People helps our clients leverage the best digital solutions and create outstanding customer experiences — the ones that are exactly right for each business. Let's talk.
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