By Nancy Friedman, Founder, Chairman, Telephone Doctor Customer Service Training
All clients are important. No matter what industry they are. You’re serving them – they’re important. Whether they’re with large companies or small business folks, they deserve, need, and want GREAT customer service.
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From the NAW Blog:
In our book for NAW, "Optimizing Distributor Profitability: Best Practices to a Stronger Bottom Line," we present 47 best practices for distributors to apply in their businesses, along with plentiful resources and examples for mastering the process. However, we’re aware that just crossing the starting line can be a challenge — especially in such uncertain times.
From the NAW Blog:
In recent years, inside sales has emerged as a highly profitable channel for distributors. “When appropriately utilized, inside sales reduces cost-of-sales by 40%–90% relative to field sales, while revenues may be maintained or even grown,” according to the Harvard Business Review. Selling more while spending less sounds great, but it is much easier said than done.
From the NAW Blog:
As modern buyers have embraced self-service (via internet searches, social media and e-commerce platforms) for much of their buyer journey, the need for traditional sellers who provide product information — and even application insights — has dropped radically. Buyers complete 70 percent of their journey before they even engage with sellers. COVID-19 has accelerated the pressures to boost productivity and elevate sales teams’ value-add.
From the NAW Blog
2020 has been a tough year for most distribution sales teams. In certain markets — such as janitorial and sanitation, HVAC, home improvement and landscaping — shifting consumption patterns have spurred rapid growth. Customers increasingly engage with suppliers through e-commerce, market platforms such as Amazon and Alibaba, and virtual meeting platforms. These new, emerging buyer and seller engagement models present compelling value and efficiencies that are certain to endure beyond the pandemic.
From the NAW Blog
It has become a universally accepted truth that the coronavirus pandemic has accelerated customer expectations for buying online. Many distributors report a dramatic shift toward customer orders placed on e-commerce platforms. This trend has confirmed what many have said for several years: distributors must invest in modern e-commerce platforms to remain a viable source for meeting customer expectations. But is doing so enough? Is there a more vital lesson that many distributors are missing? Will distribution miss a critical opportunity for locking in unbreakable customer loyalty if they remain blind to the bigger picture?
From the NAW Blog
In our playbook for distributors to SURGE ahead using customer stratification, we outlined ways distributors could segment customers to boost profitability — particularly to mitigate the impacts of the COVID-19 pandemic. We believe it is a foundational analytics practice for any distributor. And its applications in the pursuit of profitable growth are almost endless.
From the NAW Blog
One of the most valuable resources distributors have is their data. Data can reveal what your customers are likely to buy, what growth opportunities you’re missing out on and where you can cut costs. Distributors with the right data can meet customer needs and dominate competitors. But acquiring and handling data properly is no easy task.
From the NAW Blog
Last year, I suggested a holiday conversation about the future of distribution as distributor families gather for Thanksgiving. Our idea was that distributors’ sons and daughters, whether they work in distribution or elsewhere, can share vital insights. With the ongoing pandemic, this year’s conversations are even more critical.
From the NAW Blog
It’s no secret that contracts are a great way to secure valuable business for distributors. For many companies, they account for a significant portion of annual revenue and are critical in bringing in key customers. Unfortunately, if they are not managed carefully, contracts can become an area of business where profit leaks or slips through the cracks.
From the NAW Blog
If you’re considering analytics as a means to drive profitable growth in 2021, you’re on the right track. The distribution industry is facing an uncertain market, digital acceleration and a changed landscape. Analytics can help distributors make data-driven decisions to stay on course and be successful.
From the NAW Blog
When was the last time you saw an ad for FedEx? Yet their brand remains synonymous with fast shipping. As Peter Drucker says, “The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.”
From NAW
Virtually every distributor I encounter understands that mastering data, analytics and artificial intelligence (AI) is essential if distributors are to survive and thrive in the digital age. However, very few leaders have a comprehensive game plan for turning their company into a data-driven business.
From NAW
The COVID Effect on Purchasing
From NAW
In my last post for the NAW Blog Distributing Ideas, I talked about the importance of having an effective board structure as a foundational element of a sustainable competitive advantage, whether your business is public or private. It’s a rare thing, however, and a great one in a distribution company is an exception.
From NAW
Leading technology companies are offering customers new ways of ordering — by voice or product image. In addition, leading distributors and retailers are using AI-enabled business intelligence to understand their customer needs better, and they are applying autonomous vehicles, including drones, for deliveries. How important is all of this technology capability to your customers?
NAW Press Release:
Washington, DC (September 1, 2020) … Today the National Association of Wholesaler-Distributors (NAW) announces its support of the INFORM Consumers Act, legislation introduced by Senators Bill Cassidy (R-LA) and Dick Durbin (D-IL) which will require common-sense disclosures from third-party marketplace sellers who use online platforms like Amazon to sell products to American consumers. A companion bill has also been introduced in the House by Congresswoman Jan Schakowsky (D-IL).
