If you’re like most distributors, you already provide several value-added services at no cost to your customers. But have you analyzed the cost and value of those services? Chances are, you need to get more intentional about delivering, marketing and monetizing them.
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.
It’s probably even more important for your long-term success to take some time now to revisit why you are in business and what customers want and need most from you.
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.
Many taglines distributors have embraced are far too general to have any differentiating impact. Here are seven taglines you should avoid – and why.
E-business goes beyond just shopping-cart revenue. E-business involves a broader strategy that incorporates website ordering, EDI, punchout and email/fax order automation, along with an aligned team that is incentivized to drive revenue to these channels.
A value proposition tells customers who the company is and why they should do business with them. A clear and compelling value proposition has a direct and positive effect on a distributor’s bottom line and should drive everything in a distributor’s business.
A value proposition tells customers who the company is and why they should do business with them. It is built on what a company does that differentiates it from its competitors.
Given the presence of global players and digital disrupters with extensive multichannel reach and marketing capabilities, mid-market distributors have to think differently.