In today's fiercely competitive market, B2B foods and beverages companies face an ever-increasing challenge to stand out from the crowd. With numerous players vying for the same clients, it has become paramount for sales teams in this industry to gain a competitive edge. Having that edge not only secures success for the company but also unlocks opportunities for growth and long-term sustainability.

Challenges in the Market in 2023

Navigating Saturated Markets

The foods and beverages industry is filled with established giants and innovative startups, all striving to capture market share. Sales teams must demonstrate creativity and adaptability to penetrate saturated markets and attract discerning buyers.

A competitive edge enables them to differentiate their offerings, create unique selling propositions, and convince customers to choose their brand over others.

Meeting Evolving Customer Expectations

In this dynamic landscape, customer preferences are constantly evolving. Sales teams with a competitive edge stay attuned to changing trends and demands, enabling them to customize solutions that align with each client's specific needs. Understanding customers' pain points and aspirations positions the company as a valuable partner, fostering loyalty and repeat business.

Outsmarting the Competition

Having a competitive edge allows sales teams to outsmart their rivals by being proactive rather than reactive. Armed with market insights and competitor analysis, they can anticipate challenges, capitalize on opportunities, and create a winning sales strategy that positions their brand as the preferred choice.

Building Lasting Relationships

In B2B, trust and relationships drive success. Sales teams with a competitive edge prioritize building strong, long-term partnerships with clients. They invest in relationship-building efforts, nurturing connections beyond the initial sale. These relationships become the foundation for customer loyalty and referrals, contributing to a sustainable business ecosystem.

Demonstrating Value and ROI

In the competitive foods and beverages industry, clients seek demonstrable value for their investments. A competitive sales team can articulate the return on investment (ROI) for the solutions offered, proving their worth and justifying the decision to choose their brand. This fosters confidence and credibility, leading to increased client retention and new business opportunities.

Embracing Technology and Innovation

A competitive edge pushes sales teams to embrace technological advancements and innovative sales techniques. Leveraging data analytics, AI-driven insights, and automation tools empower teams to make data-backed decisions, improve efficiency, and provide a seamless buying experience to clients.

Using data for sales enablement

A location intelligence platform can play a pivotal role in helping B2B foods and beverages companies achieve several of the competitive edge factors discussed above.

By leveraging the power of location data and analytics, sales teams can gain valuable insights into market dynamics, customer behavior, and competitor presence. Understanding the location-specific trends and customer preferences allows them to tailor their offerings and strategies to meet evolving expectations.

xMap is a location intelligence platform that collects and analyzes location data from various online sources and used advanced AI to generate meaningful insights to help you close more deals faster.

Additionally, a platform can assist in identifying untapped opportunities and potential growth areas in saturated markets, empowering teams to make informed decisions on where to focus their efforts. By combining location intelligence with customer data, sales teams can personalize their pitches and demonstrate value by showcasing how their solutions address specific pain points. Ultimately, the integration of a location intelligence platform can give B2B foods and beverages companies a competitive edge, enabling them to thrive in a challenging and ever-changing business landscape.

List of competitive advantages to seek in 2023:

• Market Insights: Gain valuable data on market trends, customer preferences, and demands in different locations, enabling targeted sales approaches.
• Competitor Analysis: Utilize location data to track competitor activities and identify potential areas for differentiation and competitive advantages.
• Personalized Sales Strategies: Combine location intelligence with customer data to craft personalized sales strategies that address specific pain points and needs.
• Faster Deal Closures: Leverage AI-generated insights to streamline the sales process and close deals more efficiently.
• Identifying Growth Opportunities: Identify untapped markets and growth areas, helping sales teams focus their efforts and resources for maximum impact.
• Enhanced Customer Experience: Deliver more targeted and relevant sales interactions, resulting in an improved overall customer experience.
• Market Expansion: Identify new potential markets and opportunities for business expansion based on location-specific insights.
• Resource Allocation: Optimize resource allocation by prioritizing high-potential areas and reducing waste in less promising regions.
• Data-Driven Sales Approach: Base sales decisions on data-driven insights, increasing the likelihood of successful outcomes.
• Long-term Success: Position the company for long-term success by aligning sales strategies with evolving market dynamics.

Use cases

Let's go through a few use cases to understand how data can help in more depth.
Amongst the many datasets that are being collected and updated, restaurants and cafes in UAE can help a food manufacturing company scales its sales.

(1) Lead generation for telesales

Telesales is an import and cost-effective way for reaching out to new customers and cementing ties with existing ones. The way it generally works is that you share a script and a list of phone numbers with a telesales agent and you ask them to get to work. An obvious disadvantage to this approach is that it lacks context and a personal touch.

Lack of context makes it hard to train new sales teams on deal closures and degrades the ratio of closing.

The average b2b sales closing ratio is 3 - 5 %

For every prospect (restaurant and cafe in this case), a good tool tracks dozens of attributes many of which are super useful in better contextualizing the discussion with the restaurant or cafe owner - giving the sales call a more personal touch. These attributes include:

1. Name
2. Phone number
3. Rating
4. Number of ratings
5. Photos of the location
6. Foot-traffic score; aggregated for traffic for each day.
7. The day-wise trend for traffic
8. Busy times of the day and popularity
9. Website link
10. Expense rating
11. News about the location
12. Keywords or perceptions of the location on social media

With all this information in hand, the sales call can be much more effective, personalized, and targeted.

(2) On-site sales visit planning

Telesales are effective of course, but not as effective as an in-person visit by a salesman. However, since it is more costly than a phone call, we need to be very selective about what locations we visit.

"In sales, in-person visits beat telesales. Prioritize strategically due to limited visits."

For example, if you are launching or marketing a super premium product - imagine mayonnaise infused with gold flakes. What restaurants would you target? You’d want to hit very expensive restaurants that have high foot traffic.

(a) The right Location

Using the different attributes available, you can filter for these locations and plan your visit to them accordingly. We even give you the option to export a link to Google Maps that you can send to yourself on WhatsApp, so you can put Google Maps on your phone and be on your way for your sales visit. But wait!

(b) The right time

Before you leave, it would be prudent to see if you're visiting the location at the right time. For example, if there is very high traffic at that time the owner of the restaurant or cafe would not have time to speak to you. We've got you covered here as well.

We track day-wise trends and time-of-day trends for most locations. For example, if a restaurant is seeing less traffic during lunchtime on Saturdays, that would be the best time for you to plan your visit.

(3) Customer segmentation for targeted promotions

Let’s assume we are Fantastic Spreads and Condiments (FSC), a food company with a huge portfolio of brands selling ketchup, mayonnaise, mustard, thousand island sauce, and so many more.

Having such a diverse portfolio is both a blessing and a curse. The pros are obvious, you have something for every type of customer, however, each additional brand carries an overhead in production and marketing. Let’s assume FSC operates in the UAE, and is working in the HORECA (Hotels, Restaurants, Cafes) space. By accessing over 25,000 restaurants and cafes, and 3000+ hotels, you can start the analysis.

(1) Cheap high-traffic restaurants

Now, suppose you are launching something that is mass market. Imagine cheap ketchup. You want to target restaurants that are cheap and have high traffic, and high ratings. This is what that looks like

(b) Brands or chains that are brunch places.

Now let’s do something a little complex, suppose you want to market a product to brands or chains that are brunch places. This too is achievable with XMAP where you can use the IS_BRAND attribute to see if the restaurant is part of a larger chain or not. This is what your selection looks like

(c) Expensive high-traffic restaurants.

We've already covered this segment in a previous use case so we won't go into too much detail about it.

Now that we have these segments ready, we can create targeted trade promotions for these locations after merging them with the companies existing sales data.

For example, you can run a 5% discount on sales for high-traffic cheap restaurants that haven't bought from you in the past 1 month.  Or a buy 10 case, get 1 case free offer for chains that have been buying from you regularly month on month.

These are only some of the combinations that are possible. Targeted trade promotions are superior to generic promotions as they focus on specific customer segments or business partners. By tailoring offers and incentives to meet the unique needs and preferences of these groups, targeted promotions drive higher engagement and conversions. This approach ensures that resources are used efficiently, maximizing return on investment and fostering stronger business relationships.

(4) Positioning and messaging

Understanding customer attributes allows sales teams to personalize pitches, highlight the unique selling proposition, and demonstrate value and ROI.

By addressing specific needs and pain points, building long-term partnerships, and leveraging technology for a seamless experience, the pitch becomes more compelling, fostering customer trust and loyalty.

"Like a key that unlocks hearts and minds, a customized sales pitch holds the power to resonate deeply and forge lasting connections with customers."Studying sales attributes and listing

(5) Early Market Advantage: Targeting New Restaurants/Cafes

"In sales, timing is everything. It can make or break an opportunity."

Timing is as important as positioning and value proposition and one of the best timing is the timing of market entry for a restaurant to establish a connection and sell. New restaurants/cafes are a good receptive audience to advice or collaboration. Here are some of those advantages:  

1. Proactive Approach: a proactive approach in reaching out to potential customers, rather than waiting for them to approach first.
2. Building Strong Relationships: By establishing partnerships with new venues early on, businesses can build strong and lasting relationships, fostering customer loyalty and repeat business.
3. Share Market Trends: New restaurants are more receptive to advice and don't have a bench market. Sharing industry benchmark establish immediate trust and open the ears of the prospect.
4. Maximizing Resource Allocation: Prioritizing new venues based on data insights ensures efficient resource allocation, optimizing sales efforts for the best possible outcomes.
5. Early Adoption of New Products: Early engagement with new food facilities allows businesses to introduce their latest products and offerings to receptive audiences.
6. Increased Sales Potential: By catching venues at the right time, businesses can capitalize on their enthusiasm and potential for growth, resulting in increased sales and revenue opportunities.

Conclusion

Sales are as vital as marketing for business success. Utilizing data-driven insights empowers sales teams to personalize pitches, address customer needs effectively, and optimize resources.

Data-driven sales enablement leads to higher conversions and sustainable growth, making it an indispensable tool to close more deals efficiently in the competitive market.

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