As a business owner, you’re always looking for ways to keep your customers coming back. But what happens when they start going to your online competitors instead? Here are a few tips to help you stop losing customers and keep them coming back to your business.
Lean Into Expertise
When people know what they want, it is easy to type the term into a search engine and go. But as technology changes and supply-chain issues make everyone scramble for a Plan B, customers will discover that they cannot achieve some things through a user interface. So stand out with your knowledge. Leaning into expertise by acting as an advisor or coach can be a great way to compete against online competitors who don’t provide this kind of customer service!
Another way to showcase expertise is through training. By providing regular free training to your customers or their teams, you can reveal a deep understanding of the industry and help them learn new skills. This gesture will show that they’re in good hands when making a new order.
Bring in Soft Skills
Competing with online retail is tough, but you can succeed by bringing in the human element. That means that your employees need soft skills like customer service and relationship building to make sales–which may be difficult without them because the older employees may not be used to it, and the younger set may not have proper training.
Training these crucial abilities during their onboarding or setting up lunch-and-learns on these topics can be a great investment. The days of Always Be Closing (ABC) are over. It is now the era of Always Be Helping (ABH).
Use Relationships to Build Loyalty
While we spend more time today with our phones than ever, people still do business with people they like. Fred Reichheld, the father of NPS and author of the book, The Ultimate Question, says that customers must feel good about their relationship with the brand. The company should understand their values and share similar principles, engaging both the heart and the head. If you connect with someone, you will build something that a website can never beat.
The bottom line to stop losing customers
Building a successful business in the digital age is no easy task. You’ve got to fight back against fierce competition from both online and offline companies, as well as keep your customers happy by providing them with high-quality service. So what are the key weapons for industrial suppliers today? Lean into expertise, focus on customer service, and build relationships for long-term success!
Another weapon at your disposal is technology such as AI that can outsmart competitors in this space. While customers may think of online retailers as more convenient, it cannot beat the experience of one-on-one service, and if you can leverage this human touch with strategies such as dynamic pricing and inventory optimization to guarantee there are never stock-outs, you will thrive. And we can help you with that.
How can Intuilize help?
Intuilize stands as a robust ally in this battle. By leveraging advanced analytics and artificial intelligence to empower distributors to optimize their inventory and pricing strategies effectively. By harnessing the power of Intuilize, distributors can ensure they have the right products available at the right times, minimizing stockouts and reducing overstock. This precision in inventory management not only boosts operational efficiency but also significantly enhances customer satisfaction. All of which makes it easier for customers to remain loyal instead of turning to online alternatives for their needs.
Moreover, Intuilize’s dynamic pricing capabilities enable industrial distributors to adjust their pricing in real-time, based on market demand, competition, and other key factors. This agility allows them to stay competitive with online retailers, who typically adjust their prices frequently to attract customers. By implementing strategic, data-driven pricing, distributors can protect their margins while offering competitive prices that appeal to their customer base. In essence, Intuilize provides the tools and insights needed for industrial distributors to level the playing field with online competitors. Offering the right products at the right prices, at just the right times ensures they can attract and retain customers.
If you want more information about these tools, we’d love to provide you with a free consultation.
