More Profit for Electrical Supplies with AI-Powered Pricing
Electrical wholesalers and distributors play an important part in supporting national, international as well as local businesses alike. With thousands of products and fast lead times, it is essential for you to keep track of your prices and customers.
As an electrical wholesaler or distributor, managing discount codes can be a challenge. Yet electrical stockist that manage to take control of discounts using analytics such as Bubo-ai dbx find it a highly effective method of improving their bottom line.
In fact, eliminating unnecessary discount on automotive part orders can be equivalent to a 2% increase in price. That is more effective than a 10% uplift in sales in terms of improving your bottom line!
Preventing customers leaving is not easy. That’s because, until now, there is limited visibility of when a customer is planning to leave. Also, current methods of identifying these customers causes too many false alerts because they are based on revenue, which can have large fluctuations. For example, when a contractor places a very large, unusual order for a one-off project.
Bubo.ai cbx is a pre written churn tool that identifies the probability of when you are about to lose a customer, up to 12 weeks in advance. That gives you time to react, meaning a better chance of keeping them. Research shows that a 5% increase in customer retention can result in than a 25% increase in profit.
With our pricing and customer insight software your business is on the path to achieving world beating results.
Full customer-value based pricing with the Bubo.ai enterprise solution.
For builders merchants, and all businsses for that matter, profit is one of the main indicators of an organisations health and ability to thrive in the long term. However, profit is one of the most difficult key metrics to manage successfully and consistently.
Bubo.ai is the only user-friendly AI-driven solution for a customer value-based pricing strategy for wholesalers, distributors and merchants of building products. Bubo.AI dbx and Bubo.ai cbs use price recommendation and continuous price optimisation models designed to handle complexity and scale.
Use Bubo.AI to track customer behaviour over time and align opimisation models to offer the perfect price based on your customer’s willingness to pay (WTP) and your willingness to accept (WTA), helping you to achieve your profit targets quickly.