On mdm.com, we not only feature our premium content that you read in this newsletter twice a month, we also feature ongoing blogs with insights from thought leaders in the industry, breaking news and extra features such as video interviews and Premium Extra bonuses.
Here are some of the insights presented on mdm.com that you might have missed in the past month:
To define your target market, Bob DeStefano writes in Embrace the Marketing Paradox: There are Riches in Niches, consider industry, geography, demographics and psychographics. How will you know if you’ve found an ideal niche? He says the ideal will have a specialized need or interest that you can meet, it’s easy to market to them, it’s large enough to support your business and they have the economic resources to support your product.
To be successful online, design your website for your customers with an eye toward making it easy for them to do business with you, DeStefano writes in Is Your Website Customer-Focused or Egocentric? And make sure that your website is aligned with your overall business strategy and marketing objectives.
To make your facility more efficient, consider whether your warehouse design increases productivity, decreases operations cost and improves customer service levels, which Lee Schwartz writes about in What’s the Shortest Path Between Two Lines? Does your layout make sense? If what is received has to also be inspected, but receiving and inspection are on opposite sides of the warehouse, what can you do to change that?
To “turbocharge” your profitability, Jonathan Byrnes writes in Turbocharge Your Strategic Account Management, use three important profit levers: profiling and account selection, pricing and product portfolio, and supply chain integration.
To stand-out in a changing market, Steve Epner writes in How Distributors Can Survive in a ‘Random-Access’ World, distributors need a value proposition that can be justified by the customer. And when they determine what that is, they must be able to measure or quantify the value and break down what they do into measurable functions.
Get more insights from MDM’s blog at mdm.com/blogs. If you’d like to contribute, please reach out to us at firstname.lastname@example.org. We have a blog category called Industry Insiders and encourage distributors and manufacturers in particular to contribute their take on current issues and trends or to share what they are doing with our audience.