Days are numbered for the traditional inside-outside sales model in distribution, say executives at Earnest Machine and Gustave A. Larson. Here's how they developed a new integrated approach.
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Salespeople will continue to hit the road when and where they can, but distributors still need to hone their remote sales tactics.
Distributors feel the weight of supply chain anchors this year, but there should be smoother sailing ahead.
Distributors have taken the pandemic disruption in stride and used it to accelerate improvements across key areas of business: Sales & Marketing, Technology, Operations and Strategy & Leadership.
Sales team transformations accelerate thanks to online sales growth and COVID-19-related restrictions on in-person meetings.
Revenues were greatly affected by the pandemic, but with 2022 on the horizon, companies are rethinking both M&A and the “new workplace.”
Customer engagement often begins and ends with robust technology.
Pandemic highlights the need for steady hands in the C-suite, as company leaders were tasked with numerous duties beyond just growing the business.
Industry leaders share how distributors can transform their sales processes.
E-commerce opportunities abound, says Petra Schindler-Carter.
Three of the biggest challenges distributors face to better understand how companies should proceed with technology investment.
Heard one of these lately? Customers are sick of Zoom; they never want to see a salesperson in-person again; they are moving all their orders to Amazon because we’ve heard how AMZ has blown up during the pandemic, etc. Our team at MDM looks at conventional wisdom like some people look at clay pigeons – we can’t wait to shoot ‘em down! Happy we got our chance.
Not if they don’t adapt to the changing marketplace dynamics.
As a leader, we don’t actually have much control over the people we lead. However, we have complete control over ourselves.
Not if they don’t adapt to the changing marketplace dynamics.
Avoid the pitfalls that can come with digital-enhancement projects by putting these best practices into place.
Trusted and well-defined customer data can take to you to the next level.
Second quarter growth exceeds low-double digit outlook, but supply chains and the labor market are concerns.
Despite the challenges around inflation and supply chain, many distributors are focused on improving talent management.
Laura Phelan is steering the company’s digital marketing and merchandising, demand generation, digital in-store experiences and content marketing.
Laura Phelan is steering the company’s digital marketing and merchandising, demand generation, digital in-store experiences and content marketing.
Wholesale distribution finds innovative ways to navigate the COVID-19 pandemic that are remodeling business operations.
Data analytics and strong digital presence contribute to Sonepar USA's success.
Industrial marketing group AD continues to see reliable growth.
Distributor excels in difficult environment with streamlined technology and new 3D printing capabilities.
The last few times a customer told you they found a lower price on a product at one of your competitors, how often did you lower your price in response?
Managers who prioritize strengthening the emotional intelligence skills of their sales team, such as empathy, find customers feel more connected and are more likely to share pain points that lead to purchases.
In the past, distributors would often sacrifice margins to gain market share and drive the topline. However, such tactics negate a strategic pricing process, rendering it nearly nonexistent. Without process, your people must make pricing decisions in a vacuum. As hard as they might try to compensate for and cope with inefficiencies, and as effective as their efforts might be in the short-term, you can’t expect them to sustain healthy margins in the long run.
Customers continue to leverage digital and e-commerce tools to improve their buying processes. But for many distributors, their outside sales model isnt working as effectively as in the past to keep up with how customers want to buy. That growing gap is why a dedicated part of our research and coverage has been on the strategies, best practices and tactics for how to transform the sales process to reduce selling costs and increase efficiency and customer engagement. And its why the prize when it comes to increasing sales performance is on specific ways to become a more buyer-centric seller.
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Introducing any of these jobs product manager, chief digital officer, sales enablement manager, trusted adviser and director of inventory has the potential to make your company more open to change, better embrace the customer experience and streamline operations to meet evolving business demands.
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The global e-commerce platform's business model is built around the premise of making it easier for distributors and manufacturers to do business around the world, says John Caplan, president of North America B2B and chief growth officer, global B2B.
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Most distributors dont view their inside sales team as a proactive sales force. Its relatively rare for inside sales reps to make outbound calls to generate more business or to employ active selling techniques. In fact, in a survey, nearly two-thirds of distributor respondents told Real Results Marketing their inside sales force spends less than 25% of their time proactively selling.
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Play the role of a critical customer, focusing on availability, urgency, reliability, accuracy and individual SKU characteristics.
How much time does your sales team spend in unproductive waters?
There are fishermen, and then there are catchers of fish.Some anglers are more successful than others, and it isnt about who has the best technology.How much time does your sales team spend in unproductive waters?
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Three key changes that are forcing distributors to reexamine sales coverage models
Analytics-driven operations can deliver staggering profit gains, but it takes a visionary leader who won’t accept a company’s current limited analytical expertise. In this article the author, who will outline these concepts at MDM’s Pricing & Profitability Summit, www.pnp.com, Apr. 15-17, argues that distributors can shift from a revenue-share mindset to a profit-share mindset by zeroing in on three key metrics: gross profit, cost-to-serve and net before compensation. It also outlines how the concepts of line-item profit analytics and quantum costing can create an effective analytics environment. This article is an excerpt from a chapter in A Distributor’s Guide to Analytics, a book published by MDM.
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If this isnt the year to prioritize pricing and profitability improvement, Im not sure when would be better! Do something before you have to.
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January is typically not a big sales month for Earnest Machine, a 72-year-old fastener distribution company out of Cleveland. But this January was not typical. The company was up 29% at the start of 2019, said CEO Kirk Zehnder. Speaking last month at MDMs Sale GPS Conference, Zehnder explained the radical shift in Earnests sales department structure that he credits for the boost.
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Theres a lot of talk about whether or not the U.S. is looking at an economic recession in the near future and the impact a market downturn could have on distributors profitability in the process. But the truth is, distributors should be examining their pricing strategy no matter how well or poorly the economy is performing, says Al Bates, principal at Distribution Performance Project. Whether its a good market or a bad market, youve got to get control of your pricing, he says.
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Industry leaders shared their recruiting and placement strategies at MDMs Sales GPS 2019.
Join us live on Tuesday, June 29 for the latest on digital customer experience, technology and change management, and future innovation.
A litany of disruptions has turned into a game of whack-a-mole, with distributors doing what they can to manage the current glut of supply chain issues.
The construction sector consolidated at a rapid rate amid COVID-19 and shows no sign of stopping.
The future we’re headed toward has no sympathy for resource constraints, resistance to change or incompatible legacy systems.
Harnessing the power of data can transform a distributor. This article introduces distributors to the benefits of analytics, including how data-informed decisions can help a company analyze market potential, profile customers and better target prospects — all of which can grow revenue, reduce costs and improve profitability.
The retail giant fires a shot across the bow of other large distributors by scaling up local fulfillment centers using automation.
The impact of taxes during the M&A decision-making process is expected to be elevated in 2021.
The company is on a long-term environmental sustainability journey, supported and reinforced by executive leadership.
Harnessing the power of data can transform a distributor. This article introduces distributors to the benefits of analytics, including how data-informed decisions can help a company analyze market potential, profile customers and better target prospects — all of which can grow revenue, reduce costs and improve profitability.
Texas distribution center allows distributor to practice what they preach on automation excellence.
Many distributors are under the assumption that if they load a bunch of content onto their website and/or into one-off marketing emails, they’ve done their job. But such a Create It and They Will Come strategy can be a waste of time and resources.
In 2021 planning, move beyond the traditional ways of doing things and embrace the new normal – especially if you want to grow.
The pandemic didn’t stop Lawson Products from pursuing the largest acquisition in its history. Mike DeCata, president and CEO, and Brian Hoekstra, vice president, mergers and acquisitions, spoke with MDM about the company’s latest deal, how they navigated it during a global pandemic and how their M&A appetite remains strong even amid today’s economic upheaval.
How distributors can assess whether or not implementing a published Minimum Order Size (MOS) policy makes sense when considering both company and market dynamics.
Thirteen lessons from distributors who are finding the silver linings in COVID-19.
Digital transformation is no longer something to get to eventually. It’s an imperative for survival.
Wholesale distribution finds innovative ways to navigate the COVID-19 pandemic that are remodeling business operations.
Data analytics and strong digital presence contribute to Sonepar USA's success.
Industrial marketing group AD continues to see reliable growth.
Distributor excels in difficult environment with streamlined technology and new 3D printing capabilities.
Gary Knight is integral to Loeb Electric’s digital initiatives for its sales staff and customers, such as Walmart.
The distributor’s CMO Klaus Werner helps the company to thrive online during COVID-19 adversity.
The industrial distributor’s technology manager Matt Hanlon has been driving digital transformation for his entire career.
Three key themes from conversations with executives at Fastenal, Winsupply, Lawson Products and W.W. Grainger.
Distributor focused on e-commerce growth, new bin technology and converting pandemic-purchasers into long-term customers.
Chicago-based industrial distributor has a straight-forward approach for fueling its growth through the remainder of 2021 and beyond.
Industrial distributor drives growth across business, maintaining top rankings.
President John McKenzie credits company’s change management capabilities.
As we start to come out of our COVID-19 fog, many elements of life and work are changing with urgent pace. As a result, it feels like anything is possible.
A well-thought-out plan is critical to any business initiative. The latest issue of MDM Premium features several success stories, each driven by a plan that did not make assumptions and skip the basics.
MSC Industrial Supply CEO Erik Gershwind details how his company pivoted from being a legacy spot-buy company to becoming a mission critical partner for its customers.
The latest quarterly MDM-Baird Industrial Distribution survey shows distributors are paying close attention to pricing inflation, supply chain issues and technology adoption challenges.
MDM-Baird Distribution Survey: Recovery starts to heat up in the first quarter while outlook improves for the rest of 2021.
What distributors need to know about buying and selling as they navigate the post-pandemic consolidation boom.
ADI Global Distribution vice president of global operations helped carry the company through the complexity of COVID-19 with "creative and unique" solutions.
These extraordinary women are taking the industry to new heights through strong leadership and mindful investments in the future.
Patel used her extensive B2C e-commerce experience when building a digital sales channel for the landscape equipment distributor.
Millard might have handed the reins of the electrical distributor's top executive post to a successor, but her legacy at the company and in wholesale distribution is intact.
As the president/CEO and owner of The Part Works Inc., a company her parents started, Parris now gets to combine her own experience and skills with the foundation they built.
Vrancic might officially be the director or marketing, but she has proven to be so much for the industrial distributor since joining the company in 2002.
Investment Banking Directory
The MDM Investment Banks in Distribution directory is a listing of firms with expertise in the wholesale distribution industry.
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