If you aren’t building high-tech platforms that make it hyper-efficient for your customers to execute simple transactions, you’re losing the game. But simply adopting a high-tech model isn’t the answer either.
B2B Sales Channel Strategy
Distributors sell through multiple sales channels: outside sales, inside sales, ecommerce, customer service, VMI and more. But as customer expectations shift, the role of each channel in B2B sales continues to evolve. Customers are demanding a seamless experience no matter where they interact with the distributor.
Based on our extensive work with distributors, we distill your list of technology choices to the investments that we believe can have the greatest impact on your business.
You’ll know you’re stuck in a brand graveyard if your customers only buy a small percentage of your product offering, only buy big products from you but not accessories to those, and buy infrequently.
Independent alternatives to third-party marketplaces like Amazon are emerging, and some distributors have found success selling through them. This has many wondering if they should build their own marketplaces.
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.
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.