Well-run companies know that customer retention is critical to long term success as a business. 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.
While some distributors have spent time creating a value proposition that employees can recite by heart, when it comes time to really talk about how to sell their company’s value, many salespeople falter.
It’s a great idea and it requires thoughtful planning. Most distributors want to increase sales by entering new markets — but what does that mean?
Antisocial Distancing: The Best Worst Advice on Working from Home As the COVID19 pandemic sweeps across the globe, it’s causing sickness, death, and economic damage. It’s also resulted in a new recommended behavior: “Social distancing,” which means we’re supposed to stay six feet apart from each other at all times.
During a Crisis, You Must Know the Lingo to Join the Convo Early in my career, I was terrified of math (due to post-algebra traumatic stress suffered in high school) and so I didn’t even try to learn financial accounting. This became an increasingly big problem as I was promoted and sat in more meetings…
Distributors are facing unprecedented uncertainty due to the impacts of the global COVID19 outbreak. While many safety and janitorial supplies wholesalers are seeing some of their biggest months ever, most distributors aren’t sure what’s coming in the next couple days, much less the next few months.
Many taglines distributors have embraced are far too general to have any differentiating impact. Here are seven taglines you should avoid – and why.
In general, distributors’ ongoing shift to digital is a good thing; depending on the segment, customers do prefer to be communicated with digitally.
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.