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BuyerSteps Authors: Mehdi Daoudi, Mat Mathews, William Schmarzo, Kevin Benedict, Jyoti Bansal

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How Technology is Changing the B2C Companies

The evolving technology and the internet has transformed strategies in B2C companies. With the recent emergence of touch screens, tablets, mobile apps, consumers demand for convenience in accessing brand or product information and more convenience when it comes to purchases. 

Anyone could have the best-known brand in the world, but in a B2C or business-to-consumer world, if there is no right eCommerce infrastructure, a business could find itself rapidly running out of capital and from there, out of business. A strong brand is essential but not sufficient. Customer growth isn’t enough, as well as inventory availability and so does fast delivery. Plenty of cash would help, but who has sufficient capital nowadays? The key to success in a B2C world is to meet the exceeding consumer expectation. To be able to do that, a company should have the right combination of capabilities. The correct balance of good management of fundamental management leadership skill, good management of capital, scale and definitely branding. However, this balance differs from one business to another.

Since the first dot-coms, the internet has transformed the strategies in retail. As eCommerce irrevocably formed consumer buying behavior, either retailers adapted or died. With the recent emergence of tablets, touch screens and mobile applications, consumer demand for convenient access to information and immediate capabilities to purchase remains to drive technology innovation. The consumerism of B2B technology is picking up speed as well, as the same wave of innovation and adoption is sweeping through the B2B landscape.

 

The business-to-consumer or B2C world that buyer live in today is greatly influenced by technology. Individual habits of consumer when it comes to looking, evaluating, selecting and receiving goods are radically different from what they were before the internet existed. By the implementation of omni-channel strategies, successful brands and retailers provide customer the choice of how they learn and obtain products. Intuitive and simple online and mobile user experiences make it easier for customer to do business with these industries.

Individual consumers could opt to purchase over the web and pick up in store. They could complete in-store returns of products they have purchased on the item or order an out-of-stock garment right from the fitting room of a store. They could use the store as a kind of showroom and buy the product on the web, or vice versa. In a store, they may see a new interesting product, and use their mobile phone to check out detail, read review and buy without having to wait in line and receive the product the following day. In a similar manner that digital and physical channel work together in retail, it is necessary for manufacturers as well as distributors to look at eCommerce development as building on their sales teams, rather than eradicating them. Providing sales representatives with mobile order writing solutions, which include B2C-like user experiences will make them more effective and efficient. Armed with solutions such as these, sales representatives would have the product and consumer information that they require at the fingertips for strategic conversations with the clientele and a seamless digital format when it comes to orders writing and submission. Messages that sales representatives convey consumer visits could be reinforced via the websites of the manufacturers and distributors, as well as applications the next time a buyer logs in.

Using eCommerce solutions, sales representatives could talk with buyers on how to increase margin, phase purchases and comprehend the extensive landscape. With insights from sales representatives, purchasers will be able to distinguish themselves in a world of growing competition from internet channels and other brick-and-mortar players. Most of all, sales reps could distinguish themselves and the products they sell in an increasingly competitive wholesale scenario. The advent of smart phones resulted to high speed wireless internet. This has helped social media become the most popular sites in the world today and then eCommerce platform services came around. All this was triggered with the arrival of these smart devices. Business organizations could benefit from this since 24/7 connected customers offer more data on their behavior and help organizations to better understand them. Moreover, smart phones enable companies a more frequent engagement.

The cloud storage technology is storing of data on a remoter server wherein data could be extracted, edited or added whenever required from anywhere. A big chunk of personal data is on the cloud already. Services such as banking, social media and music streaming are just some to use cloud for convenience. The rise of cloud technologies also brought the concept of SaaS or Software-as-a-Service that enables businesses to have their software and data outsourced to a service provider. With the rising popularity of cloud storage, there will be a decrease for local storage need. Devices that need to access data could connect to a server and retrieve it via the network. This would change the way that consumers use devices such as their smart phones, laptops, tablets and peripherals.

Technology advances have always changed the way people behave. With continued advance in tracking technology, marketing would evolve into a very sophisticated industry with accurate results and less prediction. Consumer research professionals would take over the manual and labor intensive jobs. Consumer research professionals would be the key strategies to determine company operations. All the changes would mean that the organizations will get closer to their clientele to sense their needs and deliver them before they even realize their needs.

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More Stories By Hiren Y

Hiren is an IT business consultant and blogger. His expertise includes diverse technology platforms, like Microsoft, Java, PHP, SharePoint, Open Source, Big Data, BI, and Mobile.