ABM & Key Accounts (CPG) Lead Generation & COVID - DEMDACO
Overview & Challenge(s):
DEMDACO had been in the B2B/wholesale business for over 20 years, manufacturing and selling high-quality gifts, fashion, home decor, and more. The sales model for B2B was complex due to using three channels for sales:
Wholesale eCommerce site
Company-employed national and key account reps
Outsourced, 3rd party sales and territory managers
Annual revenue was heavily dependent on in-person rep consultations during annual gift markets. With the breakout of COVID threatening the livelihood of our retailers, attrition increased because many were small business owners. Fear of traveling triggered a decline in the show's attendance of nearly 90%.
To stay solvent as a business required finding creative solutions for existing customers to shop virtually while gaining new leads from the trade show and offering show-only discounts online.
Goal(s): Retain B2B sales without cannibalizing parallel channels, build confidence in the sales team, provide options for fearful travelers, and gain net new B2B customers.
Strategy and Approach:
Partner with sales, warehouse management, supply chain, IT, customer service, and creative services to brainstorm solutions.
Design and implement the following within a five-week window:
First-of-its-kind Virtual Showroom, hot-spotted to products with an ability to 'quick-add' to a cart.
The ability to apply show-only discounts via our eCommerce sales to qualified customers only.
Solutions to meet customers where they wanted to shop (in person, online, virtual).
Support and training for sales teams on how to conduct virtual shopping conversations and complete transactions.
Compelling marketing campaign, maintaining retailer sensitivity to COVID travel and supply chain challenges.
Continue to grow D2C online sales.
Create retailer resources for surviving COVID as a small to mid-sized business.
Results:
Successfully led the design, development, testing, and launch of virtual shopping in four weeks vs. five (beating the competition) and offered show-only discounts without exceeding promotional budgets.
Average Order Value (AOV) increased by 160%, gained over 120 net new B2B customers, and retained 89% of the existing customer base.
Received unsolicited, positive feedback for authoring content, designing, and launching a gated Retailer Resources landing page and DEMDACO Retailers Facebook Group to create a sense of community.
Adoption of the new wholesale site increased and delivered higher-than-expected sales during the show period:
82% of transactions were completed online.
Digital Marketing efforts accounted for 74% of total show sales (vs. <20% in prior years)
Exceeded adjusted show sales goal by 110%
D2C channels increased YoY by 220%
The marketing campaign “Shop Your Way” outperformed all previous B2B programs, delivering:
11% increase in open rates
8% higher CTR
30% higher conversion rate
Generated 156% increase in AOV ($857) vs. the prior year ($548)
Digital Marketing was the catalyst for positive, company-wide change that fostered collaboration and new ways of working that remain in place today.