How BtoB retail merchants can capitalize on 2012

Posted by Rick Yvanovich

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While economic forecasts are projecting a 2 to 3 percent improvement of GDP in 2012, business spending is anticipated to grow between 4 and 6 percent. Business-to-business retail merchants stand to gain the most from this expansion, so it's crucial they begin planning for the year in advance.

As Multichannel Merchant notes, most revenue growth in 2012 will stem from bolstering existing customer bases and converting new leads. Conversion improvements won't stem from an influx of new prospects, however – they will come from streamlined tactics and refinements to existing multichannel strategies.

"In 2011, most B2B merchants were still working their way back to their peak years of 2007 or 2008 – before the great recession," the news source explains. "In 2012 I would expect most B2B merchants to surpass their previous best year and achieve modest growth."

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Multichannel Merchant ties the surge in business spending to the 2012 elections. Whichever candidates make it to the final ballot, both will try appealing to small business owners and entrepreneurs, making promises of improved regulations and services. This optimism will carry through to their buying habits.

The key for B2B merchants looking to capitalize on increased business budgets is knowing their target audience's needs and desires. By making shoppers into partners rather than simple customers, B2B retailers will be in a better position to strengthen their relationships with consumers.

Every product B2B merchants offer needs to act as a solution to a potential client's problem. By knowing their audience, retailers will be able to offer relevant and in-demand goods.

New technology will be crucial to achieving that goal. "Segmented and targeted social marketing and customer ratings, reviews and continuous feedback will fuel this trend," Multichannel Merchant adds. "B2B merchants must now manage their online content, including what customers and others may say about them through a multitude of online distribution channels."

While many business-to-consumer retailers have been facing the holiday rush, B2B merchants haven't been as busy, as many companies observe holiday hours. B2B firms should use this time to develop marketing and operational plans for 2012 so they are prepared to more effectively serve their customers.

Topics: Retail Management System

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Rick Yvanovich

 Rick Yvanovich
 /Founder & CEO/

With TRG International Blog, it is our mission to be your preferred partner providing solutions that work and we will make sure to guide your business to greatness every day.

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