Using Predictive Analytics for Cross-Sell and Upsell: Lessons from E-Tailers

Posted by Steve Frost on 12/20/16 5:00 AM

The holidays are upon us once again, and along with them, the corresponding annual shopping season. For dads like me with school-aged children, this is also the time of year when I turn to my favorite e-tailers to fulfill our family's wish lists. It's a tough call as to whether I love my children or hate the mall with more fervor, so in our house, “Santazon.com" with “Reindeer Prime" delivery has saved Christmas like the repentant Grinch at the end of the book. I know that it's certainly made me a lot merrier.

As we proceed to checkout with our shopping carts, we notice the e-tailer's recommendation engine making "frequently bought with" suggestions at the bottom of our screens. If I'm buying my 11-year-old son a new PlayStation 4 (Shhh...it's a secret), I have no problem with the e-tailer making the suggestion that he also perhaps could use an extra controller or might enjoy a specific game to go with it. 

Read More

Topics: B2B, sales, data analytics, expand selling, internet of things (IoT), analytics, cross-sell, upsell, recommendation engine, predictive analytics, machine learning

B4B: How Technology and Big Data Are Reinventing the Customer-Supplier Relationship

Posted by Technology Services Industry Association on 9/4/15 8:00 AM

With the rise in popularity of cloud-based business models, many technology companies are feeling increasing pressure to transform their businesses to focus less on products and more on services. Fortunately, you don’t need to replace your traditional product-based business model entirely, but instead, find ways to add profitable “as-a-service” offers into the mix. In the book B4B: How Technology and Big Data Are Reinventing the Customer-Supplier Relationship, you’ll be taken through a narrative of how shifts in the industry are leading to a simple yet crucial conclusion: while the product B2B model was designed to sell things to customers, the new B4B model is about delivering outcomes for customers.“

Read More

Topics: x-as-a-service (XaaS), B4B, big data, customer-supplier relationship, B2B

4 Ways B2B Suppliers Can Become Business Partners With Customers

Posted by Paul Hesselschwerdt on 9/23/14 6:30 AM

The customer-supplier relationship is changing fast in B2B. Customers today are better informed than they were a decade, or even just a few years ago. Owing to increasingly sophisticated procurement teams and purchasing consultants armed with troves of data, companies can readily define solutions for themselves, without the help of suppliers.

Suppliers are increasingly judged primarily on price, but trusted business partners are seen as providing value by helping their customers achieve their most important business outcomes. So how do your people in the field differentiate themselves and your company? Here are 4 ways B2B suppliers can add value to customer relationships and distinguish themselves as a trusted business partner. 

Read More

Topics: B2B, customer outcomes, field services

Support Services: Building a Customer Loyalty and Satisfaction Program That Actually Retains Customers

Posted by Jodi Beuder on 3/12/14 3:53 PM

If you have been seeing decent or high customer satisfaction marks from your customers, yet you feel that your loyalty programs aren’t retaining these same customers, it may be time to revisit your strategy.

In B2B sales, retaining customers is one of the most cost-effective marketing steps you can take. It costs an estimated five to ten times more to gain new customers than it does to retain existing customers, according to research. If you’re like many companies, you attempt to retain customers through various forms of customer satisfaction measurement and customer loyalty programs, but to what effect? If you have been seeing decent or high customer satisfaction marks from your customers, yet you feel that your loyalty programs aren’t retaining these same customers, it may be time to revisit your strategy.

Read More

Topics: customer loyalty, B2B, support services, customer satisfaction

Comments

Subscribe to the Blog

Posts by Topic

see all

Follow TSIA