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.
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.
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.
To understand how vulnerable a distribution vertical is to disruption, look at the relationship between the product category’s complexity and the ability for the distributor to deliver that product using common small-package carriers.
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.
Many distributors have spent time creating a value proposition their companies rally around, but salespeople often stumble when it comes time to sell that value to prospects. Your company’s value is more than “better pricing” or “great customer service.” Instead, selling value involves a focus on the benefits for the customer.
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.