Fastenal is outperforming its peer distributors in 2020 despite the recession. They’ve recovered quickly by capitalizing on their end market and excellent company culture, hitting their top line goals.
Sales Channel Strategy
When salespeople are slow to embrace ecommerce, they miss opportunities that not only hurt the company, but the customers they are trying to help. They’re even hurting themselves.
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.
We talk a lot about the importance of sales reps’ selling value, rather than going directly to price.
Selling more to existing customers is more profitable than acquiring new customers. So why don’t many distributors succeed at effectively cross-selling to their customers?
Here’s what to consider when considering what “product” means to your distribution business and your customer relationships.
Here’s why hybrid models are ideal for this new sales landscape, how outside sales reps are primed to dominate this disrupted environment, and what tools including AI they’ll need to do it.
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.
The gates are closing. It’s now or never for digital adoption in B2B markets. The sharp increase in online engagement with customers in March and April 2020 was more than just a one-off blip due to COVID-19. More and more surveys are emerging that are reinforcing the idea that while COVID-19 spurred the shift to…
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.