About 90% of respondents in our annual State of Distributor Marketing survey with Modern Distribution Management think they are delivering more value than their competitors: either much more value for a higher price, more value for the same price or more value for a lower price.
Your top 10% of customers are covered by field sales. How are you reaching the other 90%? The very largest of a distributor’s accounts (on average the top 5%) tend to make up 55% to 70% of a distributor’s revenue. They have massive buying power, and distributors typically offer them value-added services pro bono.
A value proposition tells customers who the company is and why they should do business with them. A clear and compelling value proposition has a direct and positive effect on a distributor’s bottom line and should drive everything in a distributor’s business.
A value proposition tells customers who the company is and why they should do business with them. It is built on what a company does that differentiates it from its competitors.
Given the presence of global players and digital disrupters with extensive multichannel reach and marketing capabilities, mid-market distributors have to think differently.
Customers and prospects may learn about, shop for and buy products from your company in a variety of ways—online searches, website visits, interaction with salespeople and more.
Search engine optimization (SEO), as technical as it sounds, is critical for a distributor to be found online. In fact, a search engine like Google is where most customers are starting their searches for products, services, or suppliers, according to our ongoing survey of more than 10,000 end users across distribution segments.
We’ve seen a strong correlation between companies that are high-performance marketers and those who target their marketing efforts to roles or personas within their customers’ organizations.
An effective value proposition defines the benefits of your company’s products and services – and makes clear how your company is different from the competition. A good value proposition can drive very real bottom-line results.
The truth is: The “next” generation is here now. The oldest Millennials are 36; many are moving into or are already in decision-making positions. Distributors must change their marketing approach – whether they’re ready or not.