There is an escalating response to the economic impact of the coronavirus among distributors, increasing furloughs and hiring freezes, management consulting firm Alexander Group finds. However, forward-looking distributors are also putting plans into place to convert competitors’ customers and grow digitally.
Under-investing in customer-facing resources and tools can erode a distributor’s value, says management consultant Andrew Horvath. However, he cautions that being all things to all customers is often an expensive and inefficient approach. Successful distributors differentiate commercial service levels (CSLs) based on customer need and value, Horvath says.