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B2B Customers: Share Business Risks and Info. or Else! Concord NH, July 2000- The following article was published in "Business Wire." To succeed, business-to-business sellers can no longer simply produce and deliver good products and expect success, according to a study of manufacturing and service companies completed recently by a major business development consulting firm. Success in the B2B marketplace today demands "sharing business risk" and operating as true business partners with your customers. Such are the findings of The Beta Consulting Group's study of the business results, success strategies and problems of manufacturing companies and service-providers. "The rules have changed," reports Bradley E. Hosmer, Beta's president, in announcing the findings. "There are new ways of looking at both vendor and customer now. To achieve their business goals, players in the B2B market need to understand these changes and resolve to be a part of them by innovating and changing the way they do business." As an example, he explains that many B2B customers want fast, easy access about products and vendor processes so that questions can be answered without delay. Without it, they will not be able to keep their own operations running at top speed, ahead of the competition. "This means being able to reach the shipping department at a moment's notice. By reaching a deep contact in a vendor organization the B2B customer can find out quickly what its options and opportunities are," Hosmer says. "This facilitates good, fast decision-making. If you can make the lines between customer and vendor seamless, your B2B operation will do well in this environment." A consulting firm specializing in helping companies generate profitable growth, Beta has been guiding its own customers through the new ropes as well. "One of our client firms has taken off since instituting innovative ways to meet B2B customer needs" he reports. "Had they stuck with traditional approaches, they would not be doing nearly as well as they are." As a result of the survey findings, and assisted by over 35 years' experience of marketing, manufacturing, and management consulting of his own, Hosmer concludes that B2B success demands: 1) Allowing customers access to as much internal operational information as possible 2) Opening up direct lines to pivotal company contacts 3) Setting up joint ventures in which both vendor and customer share both risks and profits of intended results Without these kinds of new behaviors, Hosmer maintains, "your B2B selling programs may not succeed. Lag way behind in this area and your competition will probably eat you up." To discuss the survey findings or for other information please contact Mr. Hosmer at Beta Consulting. |
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