Best Suiting Needs in B2B Selling in Technology

Even with marketing efforts there’s always a level of defection due to a new competitor entering the market or boredom, or simply customers moving away to a new location. The best way to prevent defection and increase retention is to make your customers satisfied, as satisfied customers = Loyal Customer.

Retention is a reflection of a customer’s willingness to remain with a particular company’s service or products and is useful to measure customer loyalty. The relationship

Many marketers agree that by reducing customer’s to competitors defection by only 5 per cent, companies can improve profits by anywhere from 25 per cent to 95 per cent. There is no question this will be a great advantage and could benefit any retailer. It is for this very reason why consumer’s relationship marketing and using tools such as loyalty scheme is

The aspects of business success that Jones (2012) chooses to study are that of customer retention and employee satisfaction. Being able to minimize the loss of customers correlates to improved financial

The next step will be to design a Sales Force Automation (SFA) system that will offer the sales staff an accurate position of likely availability of products with price and quality parameters that they can offer the customers. This will be done readily through the use of the ERP solution. They will also have a list of prospective customers for different products, both past and future, based on the data available. This will assist them to

Customer Satisfied can become loyal and loyal customers may also lower marketing costs since retaining customers is significantly cheaper than attracting new ones. (Johnston and Clark 2008)

Customers enable the organization to treat each customer in a different way on the basis of the contribution they make towards the firm (Kleinaltenkamp & Wengler, 2007). The analysis of customer lifetime value aids the organization to rank and order customers on the basis of their contribution to organization’s revenues. It also helps the organization to determine as to how much it can invest in retaining customers to gain positive returns on the investment.

Customer retention/attrition is estimated by the Company to arrive at the adjusted revenue, however, no support is provided for the 75% of probability of retention.(Exhibit XI) Retention rate can be expected by conducting statistical analysis of historical customer turnover and revenue growth rates. When historical customer data of sufficient quality is not available, it may be necessary to rely on management estimates or industry data. Probability of retention is

Simplifying the sales process along with exceeding customer expectations was the goal (O’Brien & Marakas, 2011). In order to accomplish that, identification of the exact data needed was the first step. By merging the various modules for customer management, would allow for instant information, such as inventory status, history of sales for a particular customer and open orders, that the salesperson could access while face to face with the customer. Making the system low data input increased the productivity and strengthened the customer bond. Consequently, the sales team realized a

One of the most expensive and difficult tasks facing any business is acquiring new customers. Acquiring a new customer can cost five times as much as retaining an existing customer. Research has shown that 2% increase in customer retention can decrease costs by as much as 10% for a business. To retain current customers, businesses engage in relationship marketing strategies to continually attract repeat

| A recent survey found that 84% of “satisfied” customers will “jump ship” for a better deal if the opportunity arises. With the marketplace becoming increasingly commoditized, customer retention has become a critical part of business strategy. (E)

B2B companies that sell extensive products, represent manufacturers and sell items at both physical locations and online have more complex inventory-management and ordering needs. Core back-office features usually update availability data but seldom manage complexities such as keeping the showroom stocked, answering customer questions about the supply chain and collating materials used in manufacturing or assembling products to take advantage of bulk ordering discounts and customizing or building products for customers. B2B companies can ignite sales by using product collaborators, but this often generates problems for the back-office staff such as pricing special orders, getting approvals from various stakeholders, ordering products and materials or locating new vendors.

Building a loyal customer base is a primary goal for companies of all sizes around the world. The benefits of having a customer retention department were assessed during this research. To achieve this goal, companies need a systems infrastructure that provides detailed information on each customer’s activities and allows them to proactively analyze and anticipate customer dissatisfaction. Well-trained and empowered agents can retain the vast majority of their customers. The challenge is to give agents the support, information and flexibility they need to get the job done, while having a management team in place to

It is imperative to satisfy customers and give them an amazing experience at the company. While it cost less to sell to existing customers and companies can increase profit by selling to the same customers; if customers are satisfied, there is more chance they will come back for more services or products. Satisfied customers are a free marketing for the company. However, it is the opposite if customers are dissatisfied. Dissatisfied customer will tell 8 to 10 people about his or her experience (O’Brien, A & Marakas, G. 2004). If by any reason, representatives see that the customer is not satisfy, they should act fast and fix the problem. Furthermore, there is more chance for sale representatives to sell to an existing customer that to a new customer. A good strategy for customer retention is to reward good customers. Companies can easily do

This essay discussed about how the technology will assist the sales process and trust-based relationship selling. The sales process is the most important part of a salesperson’s job which included 7 inter-related steps. Trust-based relationship selling focus on solving customer problems, providing opportunities and adding value to the customer’s business over the longer term.