How Manufacturers and Distributors Can Accelerate Revenue with AI and Predictive Analytics
For any large B2B company, maximizing customer lifetime value is critical. That’s because it costs 5x as much to secure a new customer than it does to sell more to an existing customer. For manufacturers and distributors that often have a small target account universe, this means a major focus for sales and marketing teams revolves around cross sell and upsell plays that increase their share of wallet from their existing customer base.
Savvy manufacturing and distributing companies are always looking for new ways to accelerate the revenue they generate from their existing customer base. One new area that is supporting their quest to increase the economic potential of their customers is the advancements taking place in the predictive analytics and artificial intelligence industry. Predictive and AI platforms are now able to enable sales reps and marketers to better understand their customers’ pain points, and make targeted recommendations. This then enables companies to cross-sell to existing customers, expand their revenue margins with those customers, and then dedicate other resources to acquire new customers.
In our new eBook we’ll walk through five different ways in which predictive analytics and AI can enable manufacturers and distributors to dramatically accelerate their revenue by increasing share of wallet. These include:
- Achieve sales transformation by moving from transactional to consultative selling
- Find revenue opportunity with value added services
- Drive revenue with effective omni-channel digital strategies
- Acquire loyal, high fit customers for life
- Shift purchases to private label products
Download the eBook to understand how predictive and AI platforms can infuse sales and marketing plays with enriched data and insights that will maximize your customer lifetime value. If you’d like to speak with a rep now about how to increase your margins with data-driven insights, contact us here!