Delivering for Best-in-Class Wholesaler-Distributors

Amazon Survey: B2B Procurement’s No. 1 Goal in 2021 is Increasing Efficiency – Leveraging the Power of AI #27

The pandemic brought with it a rise in digital B2B purchasing. Boundaries were broken down and expectations were removed as businesses began making purchases like consumers: quickly and conveniently from their home computers. Although this trend may have been well on its way, the pandemic certainly accelerated it. Amazon surveyed 250 B2B buyers and 250 [...]

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Why Sales Reps Resist Technology, and What Distributors Can Do About It – Leveraging the Power of AI #26

One of the biggest hurdles distributors face in implementing new technology such as AI is resistance from their sales teams. Experts say sales reps tend to resist technology due to: The fear of the unknown. Change can be anxiety-inducing. Introducing new tools or technology to your organization, no matter how good they are, will alter [...]

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Why Sales Reps Don’t Value Traditional CRM Solutions – Leveraging the Power of AI #25

Ninety-one percent of data in CRM systems is incomplete due to duplication and outdated data, according to an analysis by Dun & Bradstreet. Pitney-Bowes found that 77% of companies believe they lost sales because of inaccurate or incomplete contact data. It’s clear that data quality is critical to sales success. Bad data can be attributed [...]

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How Distributors Can Get an Immediate ROI from AI – Leveraging the Power of AI #24

Despite rising enthusiasm around artificial intelligence (AI), companies have struggled to gain a quick return on the technology. But many remain optimistic. More than 90% of executives worldwide expect to get some value from it, according to an MIT Sloan Management Review and Boston Consulting Group report. Companies that are successful with AI share three [...]

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High-Margin Ad Dollars Aren’t Just for the Amazons of the World – Leveraging the Power of AI #23

Amazon recently reported advertising dollars grew an astonishing 66% year over year to $8 billion in the fourth quarter. Ad sales on the platform surpassed $21 billion in 2020, up by 50% from 2019. In other words, sticky customer relationships are paying off — in the billions — for Amazon. When distributors learn to leverage [...]

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How AI Can Help Distributors Fix the Persistent Backorder Problem – Leveraging the Power of AI #22

The effects of the COVID-19 pandemic on the supply chain linger in 2021. The most visible challenge for distributors has been extended lead times, which means frustrating backorders for customers who need product now — and not three weeks from now. That’s unlikely to change soon. Near the start of the shutdowns in 2020, lead [...]

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Why Distributors Can Make Millions with Messy Data – Leveraging the Power of AI #21

One of the most valuable resources distributors have is their data. Data can reveal what your customers are likely to buy, what growth opportunities you’re missing out on and where you can cut costs. Distributors with the right data can meet customer needs and dominate competitors. But acquiring and handling data properly is no easy [...]

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How to Build a Killer Inside Sales Team – Leveraging the Power of AI #20

In recent years, inside sales has emerged as a highly profitable channel for distributors. “When appropriately utilized, inside sales reduces cost-of-sales by 40%–90% relative to field sales, while revenues may be maintained or even grown,” according to the Harvard Business Review. Selling more while spending less sounds great, but it is much easier said than [...]

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3 Reasons to Invest in AI Now – Leveraging the Power of AI #19

There are a lot of reasons for distributors to adopt AI. As I explain in previous posts, the technology can help inside and outside sales reps sell more, transform customer service branches into revenue drivers and boost e-commerce performance by double-digit percentage points. At this point, the real question for distributors is not if they should [...]

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CDP: The Three Letters You Need to Know – Leveraging the Power of AI #18

As distributors look for new ways to connect with customers and boost profitability, they must consider all sorts of three-letter tools: ERPs (enterprise resource planning), CRMs (customer relationship management), MDMs (master data management), MRMs (marketing resource management), and so on. Unfortunately, many of these “solutions” end up causing more problems than they solve. Enter the [...]

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