E-commerce Reigns as King
I can’t remember the last time I went to the movies. Even pre-pandemic, I much preferred a night in with homemade popcorn and a Netflix special. Online streaming services put the entire entertainment industry directly into the homes of their consumers. You no longer need to drive 20 minutes on a snowy February day, buy tickets, and wait in the refreshment line to enjoy a movie. Instead, you can stay in, order your favorite pizza, and watch it from your couch. Accidentally fall asleep? No problem, the movie will still be there tomorrow. When the entertainment industry realized the importance of having a strong online presence, the industry changed forever. The distribution industry is nearing this change, too.
A Different Revenue Stream
No matter what metrics are used, your business needs to sell products. To maximize your profits, you should explore the different ways you can sell your stock. Your sales team is working day and night making sure they are cold calling prospects and sending timely quotes (if they are using Recurrency, those quotes take one minute). Introducing e-commerce to your business will create another stream of revenue. New customers just now finding your business will love that they can search your inventory without having to call anyone. Convenience is currency for customers and an up-to-date website with a simple online order form will bring in more sales than you think. Adobe’s Magento, a commerce software provider, built a business off of this.
Benefits for Your Sales Team
Customers coming from your website who are interested but still have questions will call your sales team. At that point, your highly trained sales team will be able to close the deal. Your online presence opened the door for that sale. Without e-commerce, lots of sales like this are lost. That first phone call with a customer is always the hardest but giving customers a direct look into your inventory makes the call less shaky and nearly surefire. The key here is to make sure that the prices your sales team quote are the same as the prices listed online. Unlike your ERP, Recurrency updates your prices in real-time and helps you capitalize on every industry trend.
Don’t Be Late
At this point, the need for e-commerce is an inevitability. Every industry, from entertainment to distribution, is rewarding businesses that allocate resources to building a strong online presence. A small distributor with an easy-to-use online catalog and order form will attract more attention than a large distributor not using e-commerce at all. Right now, there is an opportunity to differentiate yourself from your competitors based on your online presence. Don’t miss this moment! The businesses who do this first and do it right will become industry leaders.
The next time you opt for a Netflix night instead of going to the movies, think about the revenue e-commerce could bring in for your business. Then multiply that number by 10 (or more) to calculate what Recurrency could do for your business.
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