As the competition in business is increasing, the scope of improvement is also increasing. 2018 has already started, so did you try anything different this year to improve your business? If your answer is no, then my friend the chances of increasing your business profit levels is also no!
“Continuous growth is better than delayed perfection.” is the motto you need to follow for your business. There are always new ideas you can come up with to make your business better. Let us take a look at the ways you can improve your Distribution Business this 2018.
1. Automate All Your Processes
Technology is managing most of the parts of our life, so why not the business. Investing in technology may seem expensive at first but is profitable in the long run. There are a lot of software present for managing different tasks for your business. We are listing the best ones suiting your needs:
Here are some ways EMERGE App can help in improving your business:
- Chances of human error are removed 100% – Features like barcode scanning, tracking expiry dates of products, detailed reports of all the inventory in the warehouse, and many more features completely take care of the tasks in which human error is possible.
- Dropshipping gets easier – There is a special model for drop shipping companies to manage all their orders and sales.
- Better accounts management – Account receivables and payables, invoice generations, supporting different types of currencies, payment tracking, credit and debt and all the other tasks related to accounting are managed.
- Centralised product management – Categorising products, checking the history for previous purchases, setting selling prices and designing the product catalogue, everything is done at one single place.
Trello is a simple project management solution:
- It is a web-based visual collaboration tool that helps to define the workflow and requirements of projects.
- There is a digital board present to create organise and prioritise your tasks.
- On the board, there are various features like lists, due dates, checklists, comments that help you execute any project easily.
- You can easily add new people on the board using drag and drop option.
- Trello keeps all the data that is shared secured and also backups are created to avoid any kind of data loss.
Shipstation is all in one advanced e-commerce and shipping solution.
- Automated shipping orders.
- Customisable shipping labels and packing slips.
- Bulk printing of labels.
- Increases efficiency and thus helps to save time and money.
2. B2B E-Commerce
Business to business e-commerce has gained popularity in the last few years. Earlier retailers would sell directly to end customers, but now retailers and customers would search on the internet to buy products online. Now B2B distribution business comes along with new set of challenges. B2B customers expect better services than what they get as B2C customers. Here are some tricks that will definitely help you increase the profit levels:
- Excellent pre and post customer service – It is important to have a good team of employees to manage customers who face problem before or after placing an order.
- Special offers – Huge discounts and sales like free shipping or limited time offer also help to entice customers.
- Reward programs – Encourage your customers and retailers to refer your business to their friends if they like your services. And in return give them some rewards points or discounts.
Customers are ready to make international purchases, so it’s time for distributors to expand their businesses globally. You need to build your online marketplace in a way that it makes cross-border trades easier like multiple payment options, a wide range of products useful for every culture, timely delivery, etc.
3. Role Of The Marketing Team & Omnichannel Selling
Having good quality products and knowing how to sell those products both are equally important. Hiring and building a good marketing team is very necessary, that is what is going to differentiate you from your competitors. It is going to improve your marketing positioning and take care of your sales issues.
Selling goods on multiple channels online or offline is not a new thing. Omnichannel is all about making things customer-centric, like providing more and more options to the customer however they like. Your marketing team has to take care of omnichannel marketing. Nowadays social media websites are also used not just for marketing products, but also for selling them. Instagram is known to draw the maximum sales among all the social media websites. Sending free products to social media influencers and in turn, asking them to post a review on their site about your services and products is a good way of increasing your reach.
Also, your marketing team can merge with the sales team to come up with good offers and discounts. Then post them on social media or come up with lucky draw giveaways. There are a lot of ways, your teams can come up with creative ideas and attract new buyers.
4. In The End It’s All About Customers
The customers they are the main source from whom all the profit is going to come from. There are so many sellers like you, why should the customer choose you? You need to give the customers reasons as to why they should be coming back to you again and again. Exciting offers, excellent customer services, fast delivery are few things that your sales team needs to take care of.
This is the age of mass personalization. Gone is the time when personalization was about addressing someone with the name on the email. You have to provide the customers with the offers they need at that moment. For example, combo offers like if they buy one product with certain another product, then they will get more discounts.
Design the business around the needs, interests, likings, profits of the customer. Push your teams to come up with innovative ideas using insights to make the customers feel happy about buying products from you..
Customer satisfaction is everything. Try to build deep understanding with your customers, provide the best quality of products they are looking for. Also, interact with them and record their responses, ask for reviews. So that you can use all of this to in future as insights and take better decisions.
Mastering The Learning Curve
There are many other things you can try out to make your business better but you need time and practice. At times trying new things might end up as a failure for your business. But do not let this demotivate you. Start one step at a time and implement them on a temporary basis. See which change gives the best results for your business and then make it permanent.