Whatever industry you’re in and whatever product you’re selling, most of the success in the business-to-business distribution industry comes from the same key things. This article will give you a few ways to get started, and you’ll be seeing yourself succeed in no time at all.
Added Value
There are a few ways to add value to your business for greater success in distribution. Everything from the quality of your products and services to fast and efficient shipping are ways to make sure your customers are getting the best value for their money. Investing in a value added reseller is another way to repackage your original products as something more valuable, and outperform your competitors.
But what is a value added reseller, exactly? If, for instance, you were in the electronics industry and you were attempting to sell a single application. A value added reseller would take your products, bundle it with another product, such as hardware, adding value to the end product and making it a more tempting offer for your customers. If your products seem lackluster on their own, an added value reseller might be a good option for your business.
Automated Order Management
One of the most frequently bungled parts of the distribution process occurs when a business handles the order manually. Human error can create a lot of chaos along the way, so by automating the ordering process you can eliminate a lot of potential issues. Eliminate the inefficient order forms of the past and take advantage of new order writing technology that will make the process much easier for both yourself and your clients.
Rather than salesmen having to carry a case full of pamphlets and order forms, they can now have access to a single database containing everything they and their customers would need to complete a sale. You’ll find that sales and distribution will be completed much more quickly, and you’ll have a lot fewer mistakes to handle afterward.
Credit Control
It can be tempting, particularly when you’re a new business, to give in to the customers who want extensions on payment deadlines and custom payment plans. But being firm about when and where you’re getting your cash flow is essential to maintaining your business’s financial security. Customer service should always be top priority, but sometimes serving customers well means staying consistent with your expectations.
If collecting payment is becoming a hassle for your business, you may be able to outsource collection to another company. That way, you can rest assured that your goods and services are being paid for on time and you can turn your thoughts to other financial issues, such as inventory and cash availability.
Good Teamwork
While you may feel like you’re able to handle most of your business distribution on your own, putting the work into hiring a great team will pay off down the road. Even the most seemingly insignificant positions can change the course of your business’s success depending on who is hired to do the job. Taking the time to interview candidates, even if you’re not in charge of the hiring process, will give you a better idea of how your business is being handled and will help you to decide which positions are necessary for success, and which can be phased out for more efficiency.
Understanding Inventory
If your business has gotten large enough, you might be at a point where inventory and stock aren’t something that cross your mind too often. But failing to manage inventory well can cost you down the road, since your customers might begin to demand things that you aren’t prepared to deliver.
Managing your inventory can happen in many different ways, such as having a safety stock as backup in case of spikes in demand for certain products, and you’ll only know what course of action to take if you’re familiar with your inventory. Having a regular system of buying new products and keeping track of stock will keep your distribution from becoming a headache, and you’ll have to disappoint customers a whole lot less.
Importance of Sales
Your salesmen are most likely executing the most crucial tasks for your business on a daily basis. Make sure you’re investing time into giving salespeople what they need going into meetings, such as customer data and inventory statistics. Putting the whole burden of successful sales on your sales team will most likely result in burnout, and you need your sales team to be energetic in order for them to succeed. Prioritizing their needs will help them to help your business become an enormous success.
Succeeding in sales distribution can be a little tricky, especially if you’re just starting out and are new to the process. Utilizing these six tips will help you put your best foot forward in the business to business distribution process.
