B2B sales Distribution during COVID-19 and beyond:
COVID-19 has distributed lives and livelihoods and continued to do so in many communities around the world. Although the full implications of the pandemic are from certain, it’s already clear that its economic consequences are dire.
COVID-19 is changing how B2B buyers and sellers interact. Sales leaders are learning how to adapt to the next normal.
To better understand how B2B cycle will we be focusing and reacting to new normal process is:
1. Digital: Looking forward, B2B companies are now seeing and using digital transactions as two or three times more than traditional sales methods.
2. Remote: Over 90 percent of sales have moved to videoconferencing/ web sales methods. While sometimes skepticism occurs but half of the people believe that it is proving to be more effective
3. Get your work done virtually: Now work from home is the new normal and all the delivers and sign-ups and signs offs are done virtually. Deployments are now more active and delivered on time efficiently.
As a sales professional, here’s what you can do strategically,
1. Emphasise on the business continuity plan (BCP), investing in business continuity will be key to long-term top-line success.
2. Offer deferred payments or sell in modules. It is vital to get new customers onboard no matter how small the ticket size is or the sale is.
3. Look for diversifying your clientele, perhaps capture the sectors having windfall now like insurance, telecom, pharma, media, OTT, etc. They may have an urgent need to cater to rising demands and if you provide tools to them than it is win-win.
4. A bird in hand is worth, engage your existing clients, retaining them is crucial got to distance to ensure you invested in their success.
Here are few ideas to beat these blues:
a. Educate your customers
b. Think lateral
c. Re-invest in your time
Key-Notes Moving into the Future:
1. CPFR ready processes to create stickiness with the Distribution partners
2. Reduce sales skew and balanced distribution levels
3. Reduce stock out
4. Unified distribution process enabled for future changes alignment and complete compliance
5. Focus on Business Continuity Plan
6. Improve win-win situation with Super Distributors by improving their ROI
7. Reduced excess inventory at Super Distributor’s end
8. Online-portal enabled sales productivity
1. Improved service level through adherence to delivery schedules and amounts
2. Lower costs for inventory, transportation, and administration
3. Higher cash flow with lower inventory costs
4. Increased planning security and improved resource utilisation
5. Enhanced process efficiency and 50% improvement in SLAs