Wednesday, July 31, 2019

A well-know truth from a statistics made by a fortune 500 enterprise employee

An employee from a fortune 500 enterprise investigated 500 of their foreign customers on small and mid-sized companies, concluded the difference between the win and loss customers below:

1, successful customers are willing to pay more to get more qualified goods.

2, successful customers visit factories only after they made the money, they would rather save USD5000 to buy more goods rather than spend it on air tickets, taxis, and accommodations which will end in nothing.

3, successful customers are more loyal and concentrated in business, and more respectful to their suppliers.

4, successful customers are more responsible and act fast to get goods earlier delivered to catch up on good sales opportunities. They know time is more important than waiting a long time to get a 3% lower prices, when their competitors waited until the 3rd month to get the 3% lower prices, they already had two containers sold and made double 10% profit on two months plus together, which means by catching in front of their competitors two months in front they had made more than 6.6 6times profit than their competitors.

5, successful customers obey their words to have a good reputation in credibility which always wins them VIP services from their suppliers.

6, successful customers are responsive and invest more money in sales and maintain a loyal business relationship with their suppliers which earns them a good customer base and a reliable supplying chain.

7, successful customers are more active and keep a close following up to their clients, which means they will get more successful opportunities than their competitors.

8, successful customers can strategically get their customers' target price and lead them off the low price mire to avoid quality problem, by selling higher quality goods to their customers, successful customers could maintain a long business relationship with their customers, and the quality products would win them a good reputation which will benefit them in the long run to win more other clients.

9, successful customers are always willing to give suppliers more time on production to avoid “haste makes waste” problem, which allows their suppliers paying more attention to product detail and send better quality goods.

However, those customers seemed to be more shrewd are actually lost money and above 80% of them goes bankrupt within five years after their first purchasing.

1, they are unwilling to give trust to their suppliers and customers. Comparably, their deeds get them the same return.

2, they unwilling to pay a bit more to their suppliers. Sometimes, they spend 30% of their order cost to travel to inspect factories to get 10% lower price, which returns they need to sell 20% more in profit but gets 10% inferior in quality, this makes their customers won’t buy and ends them in a short term business.

3, they pursue profit maximization without giving more investment in sales which always end them in one-time business with their suppliers and customers without a customer base to support their business in the long run.

4, passive waiting customers without aggressive following up, which ends their customer go to the wrong road, when their customers lost the business, they lost the customers.

5, on each of their buying, they get tens of suppliers on the table, won them a label of greedy fellows, millions of suppliers get rid of them in the long run. They disappeared after they get a quote or received some free samples, but when the time they actually need help, they couldn't get some real help and receiving passive respond from their suppliers, because they know it's an empty word again.

6, not concentrated, unresponsive, not responsible. Credibility is nothing in their eyes. Which earns them a bad reputation, business partners are unwilling to cooperate with them.

7, procrastination and procrastination. They let their suppliers waiting months to place an order but unwilling to give suppliers a half month time to proceed a good production. In most of the time, they’re causing their suppliers to lost money.

Too many times, business is not about the money, is the good characteristic of business win them a good reputation that earns suppliers willing to help and buyers willing to choose.

The historical proof is that market winners have 100% no relationship with those on price war and dirt cheap prices.

A pursuing phenomenon is that end users are getting rid of the lowest-priced items and wandering around the moderate and the high priced goods.

How dangerous B2B trade portal is?

Many buyers use B2B portals to find suppliers, also many small business owners use B2B portals to lower their sales and marketing cost. The ...