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.
- 1 List of Top 5 Mistakes B2B Businesses should stop making right away
- 2 The Final Word
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that in addition to the risks of data getting corrupted or being destroyed by human error, this strategy is flawed and outdated.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 Using Outdated ERP and Inventory Management Tools-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 Using phone calls, emails, WhatsApp and other outdated mechanisms promotes inefficiency and prevents clarity.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 that in order for them to start digital transformation or automate their processes they need to set up internal teams. They get scared when it comes to hiring specialists internally. 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.
The Final Word
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 out of it.