Report: Efficient e-commerce sellers are reaping rewards | Ingram Micro connects resellers with AI chatbot tech | Podcast: The battle for profitability is on all fronts
Business-to-business buyers increasingly expect a sophisticated e-commerce experience, according to a McKinsey & Co. survey of executives in 13 countries. "Customers know exactly what, where, how, and when they want things," said McKinsey's Jennifer Stanley, who added that companies that respond to customers' needs see "higher retention rates, higher sales, and higher market share."
Ingram Micro is distributing technology tools from Streebo, which combines several artificial intelligence resources to create chatbots across various industries and domains. "This means our reseller base can offer pre-trained cognitive assistants without having to upskill or hire additional people," Ingram Micro's Phil Sheehan said.
The battle to improve profits must be fought on all fronts to increase margins for sellers and serve the needs of buyers, James Dorn of Dorn Group and Modern Distribution Management's Tom Gale say in this episode of the "MDM Quicktake" podcast. "So, it really comes down to trying to work with your supplier base in a more strategic way," Dorn says.
Social Commerce: Back to basics US consumers have shifted their buying habits, making social media a key part of the sales process. Join experts from SmartBrief and Square as they discuss how to take advantage of consumers' new shopping habits and tap into social media. Watch now.
When considering new software or management systems, it's not necessarily beneficial to think about which departments will benefit most, since "[c]ustomers buy your processes, not internal functions," writes Mark Stevens of consulting firm Wipfli. Stevens offers tips for upgrading technology, including looking at the big picture to see which processes need upgrading, rolling out upgrades in phases and only buying tools that will actually get used.
Shippers worry they'll be disrupted by increasing work stoppages at West Coast ports, such as the recent incident that shuttered operations for 24 hours, as they anxiously await the end of slow-moving contract negotiations and prepare for the busy holiday season. Gene Seroka, executive director of the Port of Los Angeles, said the shutdown had a negligible effect on trade flows but was "a call to action for everyone to hunker down and get this deal done."
Copy House's Kathryn Strachan explains six ways business-to-business marketers can make their content stand out with better copywriting. Use emotive language, incorporate brand story into content and focus on benefits, not product features, Strachan advises.
Dr. Sara Algoe, a professor at the University of North Carolina, outlines psychological studies that prove how expressing thanks at work improves productivity, relationships, manager effectiveness and business performance. Algoe explains how best to express gratitude, including focusing on the recipient, making it public and being genuine.
When you're on the horns of a dilemma, referring to yourself in the third person -- a practice known as illeism -- can give you the psychological and emotional distance you need to see your problems clearly and arrive sooner at a solution. "[B]y switching to the third person, our descriptions of the situation will start to sound as if we are talking about someone else rather than ourselves," writes science writer David Robson. "This sense of detachment would allow us to see the bigger picture, rather than getting caught up in our own feelings."
