Better bundling of products and services
Bundling is a great tactic for growing B2B Sales. It drives the revenue per transaction up.
When marketing bundles products or services there must be a “good fit”.
Marketing needs to identify:
- If a “specific group of customers” would like this bundle?
- Why that group would like the bundle?
- How this “specific group of customers” is different from others?
- How this bundle would relate to other bundles. It doesn’t matter if the bundles are available from your company or from others.
Gaining more up sells and cross sells.
Making sales this way is all about uncovering latent demand. Existing customers may not know about your other products and services. Finding customers by trawling your B2B CRM data is expensive. It is far more efficient to discover why a company would be an ideal prospect for a particular product.
Growing B2B Sales By Adding New Distribution Channels
Distribution channels typically exist when groups of similar customers have similar needs.
- Perhaps geography means local distributors are required.
- Sometimes other related needs create a “route to market”. Specific groups of customers may buy from a particular outlet. If your product or service suits the outlet and the group of customers “a natural fit exists”.
- Sometimes it could be payment terms. Perhaps customers want the same credit facility.
- Perhaps customers want to buy small quantities. Vendors often aren’t prepared to deal with this.
Scaling at each level is also important. The tactics needed at each level must differ from the level above (towards the ultimate vendor). This creates the space for different types of business.
Splitting a distribution channel into more levels adds overheads. Reducing levels increases efficiencies. So the added profit from increasing the number of levels must be greater than the added overheads.