Setting a Minimum Order Quantity is quick, predictable, and perfectly suited for the V-shape recovery. It’s a great strategy for distributors that have taken a hit to their cashflow over 2020 and are looking for short-term relief.
Inside Sales Strategy
We talk a lot about the importance of sales reps’ selling value, rather than going directly to price.
Distributors’ field sales teams are adapting to a new way of reaching prospects now that they cannot just get in the car to visit in person.
When most distributors talk about inside sales, they are usually referring to customer service agents. Yet, customer service personnel are generally more reactive than sales agents, because their goals are to make customers happy and solve problems.
Distributors often call their customer service personnel, “Inside Sales Salespeople” – but are they?
A sales call guide can be a useful tool to help salespeople connect with prospects and ensure they are firing on all cylinders with every interaction, whether in person or virtually.
Small customers may not generate the sales volumes needed to support them as you would support your larger customers, but they usually generate higher profit margins and do not require as many resources.
Increasing market share is good. However, increasing wallet share is even better because it is usually far easier to sell additional products to existing customers than it is to acquire new customers.
We recently published an article on selling value internally along with selling externally to prospects. Because while many distributors have spent time creating a value proposition their employees will take to heart, salespeople often falter when it comes to selling the company’s value to prospects.
Pursuing new customers in existing markets can be an expensive proposition if not done with proper planning, analysis and execution.