Customer stratification is a foundational analytics practice for distributors, offering numerous benefits beyond sales applications. By segmenting customers strategically, distributors can boost profitability, drive performance, and foster... Read More
Taking a data-driven approach to selling has several advantages for distributors. Yet many distributors fail to give the effort required to fully integrate data and analytics into existing sales workflows. As a result, adoption suffers and companies... Read More
According to Lean principles, customer-value-add (CVA) activities should receive greater attention than business-value-add (BVA) and non-value-add (NVA) activities. That’s if your company is truly aiming to apply Lean strategies to reduce waste and... Read More
Distributors pull in a vast amount of data from all areas of their operations. One area where that data can be most valuable is sales. Here, data can be used to add a more scientific angle to decision-making that’s traditionally driven by emotions,... Read More
Calculating and understanding cost-to-serve (CTS) is key for distributors to make strategic pricing decisions that will lead to profit and growth. This is especially true today, as a cost-plus margin strategy doesn’t hold up in the current... Read More
To get the most out of their sales training programs, distributors need to move away from a blanket approach toward a customized, individualized method that accounts for varying levels of experience and skill. Doing so may sound complex, but the... Read More
Amazon poses quite a threat to the distribution industry, considering its capabilities and its size. It’s reminiscent of how discount brokers disrupted the personal finance industry, threatening to devalue full-service brokers entirely. Read More
In a companion piece to his MDM article explaining portfolio management and its benefits in distribution, Brent Johnstone provides a guideline to help distributors apply the strategy. Read More
There are distinct parallels between the financial world and the distribution world. One that particularly stands out is the disruption of a “discount” option in the market. In personal finance, it was discount brokers like E*Trade. For... Read More
Customer stratification is not just for sales. When used strategically, it can help you build a strong foundation for growth and provide organization-wide benefits like: Read More
Customer data can provide significant value for distributors, particularly when emerging from a year like 2020. However, the sheer amount of data available can be intimidating at first glance. The key to simplifying customer data and turning it into... Read More
COVID-19 is redefining what it takes to be successful in the distribution industry. And distributors should focus on updating their capabilities to accommodate the new normal, rather than waiting it out and hoping the industry will return to its... Read More
Social distancing restrictions are limiting face-to-face sales for sales teams. How can you help them get beyond simply managing their new constraints to becoming confident and successful remote sellers? It takes more than providing the proper... Read More
Do you know which of your customers provide high value to your business and which are draining value? Segmenting customers so you can approach them more effectively is vital right now. It empowers you to overcome some of the greatest obstacles... Read More
