How to revolutionize your sales channels to grow your business?

Before getting started, it's essential to familiarize yourself with all the sales channels available and determine which ones are best for your business. It is crucial to carefully consider all options, especially those that can be used year-round. Brands have understood this reality: currently, 80% of B2B companies are actively developing strategies on marketplaces to compete with giants such as Amazon and Alibaba, and 35% of B2B buyers conduct their transactions online.

Now is the perfect time to think about how best to drive your online sales strategy and define the most effective channels for your business.

For this the key to success is to evaluate each sales channel. So to determine the most relevant channels for your business and the type of buyers you want to work with, you need to ask yourself the following questions:

Where does my target customer buy their products?

Obtaining this information is essential as it will help you determine which channels to prioritize. You can obtain this data from market statistics available from industry organizations and associations, such as FEVAD, or by directly interviewing your prospects and customers through a dedicated marketing campaign.

What data will I have on the sales of this channel?

Understanding a channel's sales cycle to optimize its performance is a key issue. Analyzing available data on your customer behavior, searches performed, content viewed, purchases made, and engagement will give you a better understanding of who your customers are, what they are looking for, and what potentially drives them to buy or not to buy. By understanding your target audience, you will be able to refine your marketing strategy, improve your sales and increase your revenue.

How and when will I be paid?

Each sales channel has its own payment rules. It is essential to check if the channel envisaged allows you to recover your income quickly or if it imposes a delay. If you plan to use a channel with a delay between your customer's payment and yours, be sure to negotiate the same delay with your suppliers to preserve your cash flow. It is also important to check the currency in which you will be paid in order to avoid fluctuations in income due to exchange rates or high bank charges related to currency conversion. If the payment is not in euros, it is better to follow the exchange rates and set up alerts in the event of a drop. It is also crucial to take into account the associated bank charges in your pricing strategy in order to avoid unpleasant surprises, especially if you pay your own suppliers in euros.

Are there any fees that I need to know in advance?

Bank charges are not the only ones to take into account.