Millennials? Digital-Buying Preferences?
Millennials are presently: 20-36 years old; involved in 85% of B2B purchases; the final buying authority 35% of the time, and will be growing past 50% by 2020. Their Amazon (AMZ) phone app is (statistically) their most valued and frequently used. They want their Amazon B2C buying experience at the office. AMZ owns your Next Generation Customers (NGCs)
Reps, Distributors, Master Wholesalers, Manufacturers: will you ally to be first with solutions for your NGCs needs?
- Routine calls by Reps are not valued. NGCs want fast, first-hand, right answers, not a relationship. Reps must master interacting electronically (texts, email, phone, virtual meetings, and soon: curated video clips). Make visits as requested.
- Digital Natives want to do rebuys fast, via the net, 24/7. Order takers are – 9-5, Monday to Friday, slow-me-down – inconveniences. Co-create custom web interfaces starting with most, net-profitable customers for reordering, etc.
- For one-off needs, NGCs want 24/7 immediate access to the universe of product options: not just what one distributor stocks. Will you participate in creating a channel marketplace that out-performs AMZ Business’ universe of self-organizing resellers?
- If an item is found (wherever), can NGCs one-click buy it with AMZ fulfillment assurances? Will suppliers and distributors figure out how to co-create seamless, Omnichannel scenario solutions? Do you have the analytics to create all-win, sell-direct-past-distributor scenarios?
- If digital, self-servers need access to human expertise; do you have 24/7 “talk (text) to us” button? Who will provide the experts residing anywhere on the planet?
- NGCs will know the best price on the net (from resellers without your selling overhead costs). How will you prevent getting stripped of your expertise without matching lower prices? What new service-unbundling terms and comp plans will you adopt?
Aren’t Systems-Contracting and Complicated Quotes Net-Proof?
Generally, YES! Sell these solutions ever better infusing real-time communications and faster quotation times if need be. And, be the first to have web tools that will allow self-servers to create their own simple replenishment page, and/or get instant, unbundled, a-la-carte-services quotes for simplest direct and indirect buys.
Different Selling Models for Different Customer Segments
Reps taking care of all accounts is over. What are your net-profit-dollar boundaries for different selling models/segments? Specifically: 1) Minnows; 2) traditional rep calling; 3) brokerage and bid; and 4) Enterprise, team-selling of integrated, replenishment contracts.
Without line-item, cost-to-serve analytics, channel allies won’t be able to agree on all-win innovations to meet digital buyer needs. How so? Attend my seminar for the full monty: www.merrifieldseminar.com