Top 5 Mistakes B2B Businesses Should Stop Making Right Away

Published on: 22 November 2020 Last Updated on: 30 October 2024

Many experts point out that running a successful B2B business is easy if you avoid making some important mistakes. Even if you are not running exceptionally sophisticated campaigns to woo newer clients, simply avoiding mistakes can give your company the much-needed boost.

This is more important in the new scheme of things, especially for a post-COVID-19 business world.

With 2021 just around the corner, it is essential that you pay heed to the contents of this article and ensure that you are able to avoid some if not all of these mistakes.

In this article, we speak to some of the leading minds from the B2B world of marketing, sales, and logistics. We ask them about the mistakes and the way forward.

List of Top 5 Mistakes B2B Businesses should stop making right away

1. Maintaining Data on External Disks-

We all know how data is important to the success of any business. In the case of B2B companies, data can be the deciding factor between success and failure. Most B2B companies are still averse to maintaining data on the Cloud and prefer to use hard disks.

Experts are of the opinion that in addition to the risks of data getting corrupted or being destroyed by human error, this strategy is flawed and outdated. Maintaining data on the Cloud does not only increase its security but also ensures cross-department usage of the same.

2. Using Outdated ERP and Inventory Management Tools-

The next set of mistakes concerns B2B businesses still relying on age-old strategies for inventory management. With AI, ML, and Automation being offered by the best vendors, it is high-time, B2B businesses should opt for the best inventory optimization software.

This will allow B2B businesses to accelerate the pace of their functions, boost the efficiency of the team, and improve customer experience. Looking after simple things like reducing the turnaround times can have a major impact on any B2B business in the world.

3. Manual Task Assignment and Follow-Ups-

If you are a B2B business owner, you will agree that following up with your team members or checking the progress of their work can be a pain. Using phone calls, emails, WhatsApp and other outdated mechanisms promotes inefficiency and prevents clarity.

This is why automated task assignment workflow software should be used to better employee performance. From Trello to Asana, there are many credible ones in the market, which are simple to use and will allow you to keep track of the work assignments of your employees.

4. Doubting Digital Platforms-

Most business consultants point to the fact that B2B businesses and their owners are still hesitant when it comes to pursuing digital transformations. They still feel that the internet will not be able to help them fulfill their sales and marketing objectives.

However, nothing can be further from the truth. Using search engines and social media in a strategic fashion can help you with a number of advantages. From reaching your target audiences to improving branding and lead generation, there is a lot to achieve from digital.

5. Taking help from External Specialised Vendors-

B2B businesses think they must set up internal teams to start digital transformation or automate their processes. They fear hiring specialists. However, it does not have to be that way.

By working with specialized digital marketing agencies, they can bring on an external partner firm, which can help them in multiple ways. This will ensure that they do not have to hire teams, give them systems, and spend on their office spaces.

Once you start avoiding these mistakes, you will see a qualitative and quantitative transformation in your B2B business. You need to understand that the world is increasingly moving towards a digital framework, and as a business, you need to make the most of it.

Common B2B Marketing Terms you Should Know

Still a beginner at your B2B marketing strategies. Here is your dictionary to understand the different B2B marketing lingo.

1. What is the 80/20 Rule in B2B?

The 80/20 rule simply states that 80% of a company’s revenue comes from 20% of its customers.

In a business-to-business model, this highlights the need to identify and cultivate your key accounts.

Therefore, concentrate on your sales resources on those customers who generate the most profit for you rather than trying to be all things to all people. You truly cannot impress anyone!

2. What is the 95/5 Rule for B2B?

The 95/5 rule suggests that at any point in time, 95% of your target market is not actively buying, and only 5% are.

As a result, B2B firms need to focus on consistently building brand and supplier awareness.

This also includes developing relationships with customers so that they will think of them when they do go into ‘buying mode.’ B2B customers are different than dealing with one customer. Therefore, it is important you are always in their mind.

3. What are the 4Cs of B2B Marketing?

The 4Cs are Client, Cost, Communication, and Convenience.

In B2B marketing, it’s all about understanding the client’s needs, keeping costs in check, opening channels for communication and making sure your product or service is convenient and of value to the customer – this is what customer relationships and loyalty are built upon in the world of B2B.

4. What are the 3 Most Important Qualities of a Successful B2B Salesperson and Why?

Knowledge, Persistence, and Empathy!

Successful B2B salespeople must be knowledgeable, persistent, and empathic. The more knowledge you have about your product but also about the development in your industry or the general economy – the more credible person you become for your client.

Because let’s face it, only real knowledge gives you power over the situation (matched with superb confidence). Every business out there looking for answers is desperately looking for someone who has all the answers.

However, as we talk of successful B2B salespersons, we need to consider that they often also deal with long sales cycles. In those cases, persistence is what will make you stand out from the competition.

If I shower my leads with attention every day, no other competitor can gain a share of attention.

While we’re in relationships, people buy from people they “take care of them.” Therefore, a successful B2B salesperson must adopt empathy when dealing with their clients.

5. How to Gain B2B Sales Experience as a Beginner?

As a beginner, you can gain sales experience in B2B by shadowing your experienced sales reps, going to networking events, and taking internships or entry-level sales positions.

The most valuable lessons are learned through real-world interactions, so concentrate on developing exceptional communication and negotiation abilities.

Plus, never stop learning, self-reflecting, and staying on top of industry news if you want to become an expert.

6. What is the B2B Lifecycle Strategy?

The B2B lifecycle strategy refers to an end-to-end management of the customer journey.

This starts from leading to post-sales support by providing value at every stage, ensuring client satisfaction and loyalty through attracting, engaging, converting, and retaining clients with consistent, personalized experiences.

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Mashum Mollah

Mashum Mollah is the feature writer of Search Engine Magazine and an SEO Analyst at Real Wealth Business. Over the last 3 years, He has successfully developed and implemented online marketing, SEO, and conversion campaigns for 50+ businesses of all sizes. He is the co-founder of Social Media Magazine.

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Industrial Cleaning: Effective Solutions For Manufacturing Facilities

Manufacturing facilities can be hectic environments with heavy machinery that produce a lot of debris and dirt. Due to this, these workplaces require intense and extensive cleaning schedules that only qualified technicians can handle. ICE Cleaning is an industrial cleaning company that provides state-of-the-art solutions to suit your cleaning needs in manufacturing facilities. Its technicians are qualified to work on industrial sites and familiar with the latest health and safety regulations. Read on to learn more about how to keep your manufacturing plant clean with effective solutions. What Is Industrial Cleaning? Industrial cleaning is different from commercial cleaning for public spaces. It includes disposing of hazardous waste and decontaminating surfaces with strong chemicals, which domestic cleaners would not have access to. It is a specialized category of cleaning that adheres to strict and specific health and safety guidelines, working with industrial cleaning equipment. Some of these situations that industrial cleaners find themselves in could include chemical or oil spills. This type of cleaning also deals with more intense cleaning situations and hazardous environments, including: Mold Remediation Trauma cleaning Pest control Laboratory cleaning Factory cleaning Warehouse cleaning Does Cleanliness Improve Productivity? Clean manufacturing plants keep your environment safe and free of hazards and allow staff to do their job efficiently. When areas on the factory floor are clear with correct disposal methods, workers will feel less inclined to stop what they are doing to clean up. This provides your staff with an easily accessible storage system that is easy to navigate. When everything in the workplace is well-coordinated, everyone can continue to do their job safely without stopping or feeling distracted by the mess. A clean and organized environment improves productivity, keeping the costs of missing staff or prolonged tasks low and maintaining high morale. Why It Is Important To Keep Your Manufacturing Plant Clean Because manufacturing plants are busy environments with a large workforce always using heavy machinery, it could be hard to keep up with cleaning responsibilities. Outsourcing your cleaning needs for your manufacturing can be crucial in: Maintaining the factory floor Increasing efficiency Ensuring health and safety standards Preventing contamination Increasing the lifespan of the machinery Keeping the workspace organized Your factory staff will interact with heavy machinery and equipment daily, which exposes them to potential slip, trip, or fall hazards. They could also encounter some chemicals or oils that cause harm to those who touch, ingest, or inhale them. A clean factory floor minimizes the risk of accidents, spillages, and chronic workplace exposures. Adhering to a high standard of cleaning keeps everyone safe and healthy, and contract cleaning is integral in ensuring this. The Benefits Of Cleaning A Manufacturing Plant Did you know that industrial cleaning is beneficial in a lot of ways? Dusty and unhygienic areas in an industry can result in decreased efficiency, poor product quality, and increased costs. Let’s check out the advantages of cleaning a manufacturing plant: Speed You might be wrong if you think that unclean industries do not impact production speed. It significantly reduces efficiency as employees start finding the working conditions difficult. Also, the will to be productive at their best is gone in such cases. Accumulating dirt on equipment slows down production, resulting in a huge loss. There are chances you will have to hire an additional workforce to clean the industry, thereby increasing the costs. Quality Dusty and dirty areas might also result in decreased product quality since particles contaminate everything around them. Such contamination might result in adverse feedback from customers. You would definitely don’t want to experience reduced sales just because of dirt encompassing your industry. Contamination Industrial cleaning might also have a negative impact on the environment, especially when there is an inefficient cleanliness procedure. Factories undergoing cleaning must ensure that the contaminants are released in a safe place, not in the environment. Failing to do so will have an impact on product manufacturing, storage as well as handling. Dirt is caused when waste is transported from one corner of the factory to another. But there is absolutely nothing to worry about. You can reduce the negative environmental impact by making small efforts. Safety Furthermore, dirty industries might also produce increasing pollutants and harmful gases like carbon monoxide. This might eventually cause respiratory issues among everybody working in the factory. Cleaning the industry will lessen the workforce’s exposure to such pollutants. As a result, your workers’ health is protected, which causes them to be as productive as possible. And guess what, it costs a lot lesser than paying for their hospital expenses. Different Cleaning Procedures There are various ways to clean an industry based on the business’s needs. However, some common techniques include: Vacuum Cleaning One of the first methods of industrial cleaning comprised vacuum cleaners and other industrial machines. Their use will help in removing dust, dirt as well as other contaminants that will likely cause damage. Detergents With the help of sanitizers and detergents, cleaning operations can become a lot easier. As cost-effective as it sounds, using detergent is also a hassle-free solution. Such chemicals help remove germs from a surface for a long period of time. Clothes When it comes to cleaning, nothing beats the wiping formula. Using cloth for mopping or wiping work surfaces is a common yet effective method. A vacuum cleaner might reach the small surface where a cloth might. This is why we usually include this technique in common industrial cleaning methods. Mist Procedure Another useful tip is to use the water mist system that cleans high walls and areas. This particular approach is usually efficient when you cannot access a heightened area. However, it might not cause any potential damage if you properly control the procedure. Seek help from professionals while opting for this step. Summing It Up Cleaning is an indispensable step, no matter whether you do it at home, on the street, or in your industry. We hope our article on factorial cleaning came to your use. But that’s not all! If you are looking for an industrial cleaning company to handle your cleaning needs, look no further than ICE Cleaning. Its technicians hold qualifications with CSCS, IPAF, and IOSH, ensuring they are well-prepared to deep clean a factory site. Read Also: Why Is A Janitorial Service For Commercial Establishments? 10 Pro Tips To Minimize Commercial Door Repair & Maintenance Cost The Hidden Damages In Workspaces: 5 Steps To Reduce The Risk Of Workplace Injuries!

Critical traps to avoid in your warehousing

It is not incorrect that the success of your e-commerce business is deeply tied to the functionality of your warehouse. Choosing a warehouse to a large extent would determine how well your business turns out especially in terms of logistics. However, we easily fall into some critical snares when making our warehousing decision. Thus, it would be immensely helpful to examine some of those things we do wrong when procuring a warehouse. Many of us don’t bother to physically check the warehouse first: Granted, it is impressive the digital transformation our world has faced, so much can be done and sold online. But it could eventually turn regrettable procuring a warehouse say from just what you saw and read about it online. This amount to punishable negligence and possibly gross misplace of trust. Always take out time to physically investigate the warehouse and see for yourself the brick-and-mortar life situation before getting the warehouse. You should be ensuring first hand that it meets some basic requirements like spaciousness, hygiene, equipment and more crucially the security. A visitation to the facility gives you an encompassing knowledge of how the facility runs on the ground. It would give you a more accurate perspective or judgment of how the employees are their capacity, reliability and all that. Some of us make the mistake of owning a warehouse that doesn’t match our needs: Keep in mind that you are not necessarily getting that website just because it is the prevailing trend. Rather, you are basically getting that website because you crucially need it. Therefore it is utterly paramount that the warehouse precisely matches your needs. You should be asking yourself what sort of fulfillment you would be delivering and what kind of facilities will best get the job done. You should not forget that a B2C warehouse wouldn’t capably handle the needs of a B2B warehouse. Therefore when making your warehousing decision, ensure that the execution, the volume, the operation process of the warehouse are all compatible with your business needs. The location is fundamental: When making your choice of warehousing, the location should be one of the first criteria that come to mind. It would be a terrible mistake to choose the wrong location for your warehousing. This majorly plays out in your logistics needs. How close is the warehouse to your customers? How about its proximity to your manufacturers or suppliers? You must find the ideal location that balances your logistic needs at minimal cost and time. This is crucial to the success of your business. Many of us end up paying too much: This is a common predicament we all battle, overinflated warehousing fees. From your cost of initial set up, storage cost, picking and packing cost all the way to your inbound handling cost, you must make sure that you are paying for top value and every dollar you spend is well served. In some cases, we get overcharged storage fees; this is even more devastating when we hold on to excess inventory which we are terribly struggling to sell. So it is good to clearly identify what we are paying for and have a precise documentation in place. If you have your own insurance policy, it would help you spend less though. Knowing some of these things you shouldn’t be doing with your warehousing puts you in a better position to make more accurate and efficient decisions. This would save you avoidable cost and mishaps on the long run. Read Also: Ship Packages Often? Why You Need A Courier Broker! Important Things To Consider When Packaging Your Product Best Essential Tips While Renting A Warehouse In Mumbai

4 Tips for Dealing with a Family Business in Divorce

Divorce brings a lot of problems in every part of your life. However, it makes the situation by dividing a family business particularly complicated. Therefore, you have to be prepared and get the necessary help before you start any legal proceedings. There are no avoiding problems when managing a family business in a divorce. However, you can minimize them if you go about it right. 1. Study your papers very closely : The first and most important thing to do is to get a professional lawyer to examine your business paperwork. They’ll need to see all agreements, contracts, and other papers that have some bearing on defining the ownership of the business. Note that these examinations might prove to be very surprising. For example, you might find out that some of your distant relatives become stock owners of the company. To prepare for any nasty surprises and develop a strategy for managing possible problems, you need to determine what those problems might be beforehand. 2. Consult as many different lawyers as you need : Employing the assistance of a divorce lawyer is essential when going through this process. However, in the point mentioned above, you might also need to consult a company lawyer with experience in family businesses. You’ll also be facing other issues that might require specialized legal assistance. For example, the division of assets during a divorce usually means you’ll need to get a lawyer specializing in foreclosure. If your family business is home-based, you’ll need all three experts’ help. Therefore, it’s usually best to employ a law firm with a versatile team. In case you already have a company lawyer, connect them with your divorce attorney. 3. Talk to a counselor before making any major business decisions : Roughly 95% of people who received marriage counseling state that they were extremely satisfied with the results. Note that this doesn’t mean they solved all their problems and chose to remain together. What counseling offers is assistance with finding the right direction to move on. When it comes to managing a family business in divorce, partners usually need to decide whether one will buy out the other’s share or if they can work together. Many people are able to maintain a successful business relationship even after a divorce. A counselor is a person who can help you determine if that would be the right choice for you. 4. If keeping the business, do not make any changes right away : If you are the partner who gets to keep the business, it might be tempting to ‘bury yourself in the work’. However, you should abstain from making any major changes or improvements until your divorce is legally complete. Otherwise, you’ll increase (or decrease) the value of your assets. This will make it necessary to renegotiate the entire ‘division of assets’ balance and can prolong the legal proceedings. This might also lose you a lot of money in the future and at the very least increase the lawyer’s fees. Managing a family business in a divorce is always a struggle. That’s why you shouldn’t rush and let your emotions dictate your decisions. Instead, focus on working through your current problems and get professional assistance whenever it’s needed. Read More : 1. Why Your Business Should Care About Social Responsibility 2. Why Lead Generation Is Essential For Business? 3. Resolutions To Help The Small Business Owners To Avoid Being Bankrupt

Top 5 Mistakes B2B Businesses Should Stop Making Right Away