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The B2B sales world has changed drastically over the last ten years. Technology has reshaped the way customers buy, and it’s not slowing down anytime soon.
In fact, there are several major trends that will shape B2B sales in 2022. We explore five major factors that will drive B2B sales in 2022 and how businesses can adapt to these changes in order to remain relevant and effective in the global marketplace of tomorrow.
1. Changes in Product Trends
Increasing environmental awareness will lead to a shift in product trends, with sustainable and eco-friendly products becoming more popular. The continued rise of e-commerce will result in changes in the types of products that are being purchased, as well as how they are being purchased.
More businesses will adopt new technologies, which will drive changes in product trends. There will be a continued focus on health and wellness, which will impact the types of products that are being purchased.
There will be an increase in the number of women-owned businesses, which will impact the types of products that are being marketed to them.
Businesses will also have to compete with companies such as Amazon, whose efforts towards AI mean they’re able to predict their customers’ needs before those customers know what they want themselves.
With this type of level playing field, it’s important for businesses to find innovative ways to stay ahead. One way is by providing superior customer service, which is an area where small business owners may have an advantage over larger companies.
2. Increased Discounts and Promotions
With the current state of the economy, businesses are looking for ways to cut costs and increase sales. One way to do this is by offering discounts and promotions. By offering a discount, businesses can attract new customers and retain existing ones.
Furthermore, promotions can help increase brand awareness and reach a wider audience. Some might argue that adding more products or services to their menu would be better for attracting more clients.
But when considering factors such as time, cost, and marketability, discounts will probably have a bigger impact on your bottom line. Plus, many consumers like shopping at stores with promos because they feel like they’re getting a good deal.
After all, who doesn’t love feeling like they just got something great for not much money?
Thus, in order to achieve significant growth in your customer base, you should consider including promotional items in your marketing strategy.
3. Online Reviews
These days, people rely heavily on online reviews when making purchasing decisions. If you’re selling products or services to other businesses, it’s important to make sure your online presence is strong.
If you’ve got a website, encourage your visitors to leave a review of your product or service. The more reviews you have, and the higher their quality, the better. If you don’t have a lot of reviews yet, incentivize them by offering freebies in exchange for feedback.
Even if it’s just one additional review per week, those small incremental improvements will add up over time to give customers greater confidence in your business. And the good news is that they’ll be coming from your most loyal customers – people who already love what you do!
4. Declining Customer Service
In the business-to-business world, customers have come to expect a high level of customer service. In recent years, however, there has been a decline in the quality of customer service.
This has led to a decrease in sales for many businesses. In order to stay competitive, businesses need to focus on providing excellent customer service. One way to do this is by communicating more with clients and meeting their needs quickly.
It’s also important to keep an eye on industry trends so that your products can be customized accordingly. Another factor that will drive B2B sales in 2022 is increasing competition among suppliers:
As companies look for ways to differentiate themselves from competitors, they are beginning to use marketing strategies like design or packaging as one way of doing so. Additionally, suppliers are increasingly turning towards digital technology as another way of keeping up with their competition.
5. Rise of the Millennials
There’s no denying that the Millennial generation is a powerful force to be reckoned with. They are the largest, most diverse, and best-educated generation in history, and they are quickly making their mark on the world.
In addition to being more educated than previous generations, Millennials also have higher expectations for what they want from a job. They will only work for companies that align with their values and offer opportunities for personal growth.
If you’re still not convinced of how much of an impact Millennials can make, consider this: by 2020 there will be 40 million of them entering the workforce. We’re confident that by 2022, companies that invest in attracting and retaining Millennial talent will dominate the business competition.
The global pandemic has been a major disrupting force in nearly every industry, including wholesale B2B sales. While the pandemic will eventually come to an end, the changes it has wrought are here to stay.
Companies must adapt their strategies accordingly. They should embrace new technologies, embrace transparency and openness, and make sure they have a strong business process management strategy in place.
To meet customer needs better than ever before and turn shoppers into buyers, they should also focus on customer experience.