More than 50% of business-to-business buyers are holding on to their money. They stopped purchasing inventory and are waiting for the pandemic to pass. Covid-19 changed the world of B2B sales as many businesses transitioned to e-commerce and digital stores. Although the pandemic created new challenges for businesses, it also presented many opportunities to those who are willing to meet and address the issues. While other suppliers are still reeling from the impact of the pandemic, you can pounce on the opportunity by improving your services and delivering your promises.
Faster Delivery Time
In a world forever altered by the pandemic, many businesses have downsized their operations. This means that some delivery service companies cannot ship products daily. They have to wait for their cargo trucks to fill up. This saves on expenses such as manpower and fuel. But if there’s one thing that you should spend on, it can deliver products and services when your clients need them.
Consumers have always been demanding of the time businesses can deliver their purchases. The pandemic boosted these demands. They want faster, better, and more efficient deliveries. The only way for businesses to meet these demands is to partner with suppliers who can deliver the supplies on time.
Innovate and Create Better Products
This is not the time for businesses to fall on their faces. They cannot make a mistake because a single one will drive customers away. These consumers are wary, exhausted, stressed, and worried. This isn’t the time to disappoint them with substandard products. If there’s one thing suppliers should focus on, it needs to keep producing high-quality materials. Innovating new products is also a must since there is a shift in the market’s needs and demands.
Suppliers have to find out what the current market needs. What trends are they following? Will these trends last? Answering these new demands is the best way to keep your business afloat, as well as help your B2B clients keep up with their consumers.
Reach Out and Share Information
Businesses want to ensure their customers that their products and services are safe; they won’t contract the virus by touching, eating, and using their products. But to make that assurance, businesses rely on their suppliers to follow strict health protocols, too. Suppliers have to satisfy their clients’ apprehensions by reaching out to them. They can discuss the steps they have taken in the manufacturing plant to ensure the safety of the materials that they produce.
You can better serve your clients by producing a video of how your production process changed because of the pandemic. This will help your clients trust your company more. The more they trust your process, the better they can serve their own customers, too. It is a cycle that many suppliers have always failed to understand—that their clients’ businesses rely heavily on the supply chain.
Help Your B2B Clients
Are your clients having a hard time meeting payment due dates? Do you have the capacity to help them with the supplies that they need? You can work out an agreement with your clients wherein you can get paid in tranches rather than in full. Of course, you should only offer this to clients that have been with you for years. Make sure that your contract is iron-clad, so you don’t lose in the process.
There are many other ways to serve your clients better. Your focus right now is not only to save your business but to empower your customers, too. The supply chain is a never-ending cycle of manufacturing, production, marketing purchase, and consumerism. Enabling your clients to survive the pandemic will also allow your business to thrive and flourish.