B2B manufacturing companies operate with a standard underlying cost in their business that they do not fully realize – the cost of poor pricing and sales practices. These include misaligned market pricing, inconsistent pricing, customer churn and lack of adequate cross-sell.
The 2020 release of Zilliant’s popular Global B2B Benchmark Report: Manufacturing Edition features a new category – the cost of inefficient pricing processes. Broadly, inefficient pricing processes occur when pricing and sales teams must rely on heavily manual processes and calculations, and thus the time to update prices when costs change, and quote response time is far too long and costly.
Globally, B2B manufacturing companies consistently lose up to 36.88 percent of annual revenue and up to 18.67 percent of annual margin; for a $1 billion company this equates to as much as $368.8 million in annual lost revenue and $186.7 million in annual lost margin.
Read the report to learn how manufacturers perform globally when it comes to:
- Customer churn
- Missed cross-sell
- Inconsistent pricing
- Misaligned market pricing
- Inefficient pricing
Read the report and then measure your own company’s performance against the five benchmark categories with an interactive online experience that includes a survey component and generates a customized benchmark report unique to your quantitative and qualitative data at https://benchmark.zilliant.com/