Distribution Strategy Group conducted a survey and other primary research about how distributors anticipate ongoing, rapidly changing technologies will affect them, and how and where they plan to adopt new technologies.
In our recent State of Technology in Distribution survey, we evaluated the core technologies, platforms and products used by distributors to manage their business including sales and marketing, internal operations and financial management.
For some companies, an annual increase of 1% in customer retention over each of the next ten years results in 20% increase in annual earnings. Retention is powerful for several reasons.
Here’s what to consider when considering what “product” means to your distribution business and your customer relationships.
Since the early 1960s, most companies have organized marketing activities into the “Marketing Mix,” or the “4 Ps”: Product, Place, Price and Promotion. Distribution Strategy Group shares how to get that mix right.
Most distributors keep busy enough just handling incoming calls, emails and, in many cases orders from their website. But how do we know if we are actually winning?
It’s probably even more important for your long-term success to take some time now to revisit why you are in business and what customers want and need most from you.
Because the IDEA Connector dramatically lowers ordering costs, the cost savings fall to the bottom line and directly increase profits. With manufacturers and distributors operating on razor-thin margins, strategic changes that reduce costs can have significant impacts on profitability.
For the best customers, Distributors can devote resources to maximizing the business relationship, while for less profitable and less efficient customers, Distributors can find ways to lower cost-to-serve and increase dollars per transaction.
A surprise for many Distributors is that a lot of accounts they consider “good customers” because of the frequency or regularity of orders, the total amount of revenue they contribute or the total gross profit or gross margin percentage they seem to provide are actually costing them significantly more money than they bring in to the company.