B2B Wholesale Future Trends 2024
Across B2B wholesale future trends 2024, you’ll see a few key themes: technology, personalisation and change.
Some are accelerations of global movements, while others are specific to the B2B space. We’ll break down what you can expect in 2024 and where these movements are coming from in this quick, 5-minute read.
B2B Wholesale & Distribution in Germany: Insolvency.
In the ten years leading up to 2020, the German wholesale industry saw a decline of around 34,000 businesses, as reported by the Statistisches Bundesamt. So has the total number of companies in wholesale trade (excluding trade in motor vehicles) in Germany fallen continuously in recent years, most recently to around 135,000 in 2020. Farewell wholesaler?
This depressing trend has been exacerbated by a recent uptick in insolvencies among industrial wholesale and retail companies, with several prominent names filing for bankruptcy. One of the most striking examples of this phenomenon is the collapse of the Praktiker umbrella company in 2013. Another recent sample, Ludwig Leuchten GmbH.
Read more
How to Set More-Realistic Sales Targets using Historical Data
How to set more-realistic sales targets using historical data and Predictive Analytics.
To replace the legendary Jack Welch as CEO, the General Electric (GE) Board had selected Jeffrey Immelt in November 2000. As he took the reins, Immelt set an ambitious sales target: “We believe that GE can grow two to three times faster than world gross domestic product, which translates to about 8 per cent sustained sales growth.”
To give you some perspective, the industrial segment of GE had grown 4 per cent historically.
Likewise, on December 4, 2003, Rockwell Automation announced that its board of directors had elected Keith Nosbusch as president and chief executive officer.
What artificial intelligence can and can´t do
For years, artificial intelligence has fluctuated between the terms "Terminator", "technology of the future", or "new superpower", and "doesn't work", "is disappointing", or "no confidence".
It is not surprising that there have repeatedly been so-called "AI summers" and "AI winters" over 70 years. More specifically, there have been two AI winters since the 1950s, when AI was being researched and developed: In the early 1970s and late 1980s, the high expectations for the technology were dashed. Investors pulled out, and researchers got less funding.
Read more
How to Implement AI-based Assistants in B2B Sales
You are considering implementing AI-based predictive analytics in your sales organisation. Are you convinced that this type of technology will give you a competitive advantage?
Then it is good to know what steps and what decisions you will have to make if you want to use an AI-based assistant in sales. AI enables you to make data-based decisions in sales. At the same time, AI-based assistants in sales do not replace sales staff. Instead, this type of technology supports and enhances the skills and capabilities of your team.
Artificial Intelligence in Wholesale
AI in Wholesale Distribution is a great opportunity and a challenge at the same time. In this article, learn about concrete use cases of AI in wholesale and their benefits.
Wholesale companies are an indispensable part of the economy. They represent an essential link between the economic levels of industry, trade, and retail. A quote from the Frankfurter Allgemeine Zeitung describes the situation of wholesale companies very well:
"The former pure delivery wholesale, which brought the goods of the industry to the retail trade, has become a modern service provider facing additional challenges. The modern wholesaler takes over warehousing, does shelf maintenance, acts as a lender and advises its retail customers on assortment issues."
How to be successful in sales
In this article, you will learn the top seven traits and characteristics to succeed in sales.
Let's jump right into the topic and clear up some prejudices about salespeople.
Specific skills, attributes, and technical support are required by companies to be successful in sales.
We'll now go through the top seven features and discuss each in depth below.
How to Define and Increase the Lifetime Value of your B2B Customers
Customer Lifetime Value Definition for B2B.
Sales and marketing B2B experts define customer lifetime value (CLV or often CLTV), lifetime value (LTV) or lifetime customer value (LCV) as the net profit attributed to the entire customer relationship. Sales practitioners usually referred to this value as predicted, yet it can also be a historical value.
For business-to-business sales managers and marketers alike, the ability to calculate what customers are worth is hugely appealing. That is the reason why customer lifetime value is prevalent in so many industries nowadays. CLV represents a quantitative metric and brings a long-term perspective to customer relationships.
Predictive Analytics in B2B Sales - What it is and how to get Started
Predictive analytics technologies are becoming increasingly popular and are already being used today, especially by wholesalers and manufacturers in business-to-business (B2B) sales.
Perhaps you have already made some elaborate attempts to implement predictive sales analytics with Excel or other spreadsheet programmes. Then you've come to the right place.
Predictive Sales Analytics is a modern technology to look into the future of your sales. Using machine learning methods, Predictive Sales Analytics allows you to make accurate sales forecasts: Customer churn forecasts, cross-selling forecasts and dynamic pricing.
How Artificial Intelligence and Machine Learning can Help in B2B Sales
Expand your expertise on the basics of artificial intelligence (AI) and machine learning (ML) in B2B sales.
You want to tap your potential in B2B sales and have got a taste of AI through applications like ChatGPT? Various applications of artificial intelligence are gaining strong popularity - also in the B2B sector.
The benefits of AI in business practice are undeniable. But despite this, there is still a lot of ambiguity surrounding the topic of "artificial intelligence", so it is not easy to grasp.
In the Qymatix online course on "the Basics of Artificial Intelligence and Machine Learning in B2B Sales", you will learn what exactly AI and machine learning are all about and how such systems can support sales.
Note: the course is only available in german language.