IndustryWeek\'s Manufacturing and Technology Conference, held last week in Raleigh, highlighted the continued infusing of technology into manufacturing ... onto the plant floor as well as through product design. And it\'s a trend that electrical distributors can be uniquely positioned to support and can benefit from. Key words that were used repeatedly included: Smart IoT … [Read more...] about Manufacturing and Technology Trends
Growth Strategies
Digital Distributor Starts with eCommerce Product Content
The term \"digital distributor\" is starting to be used more repeatedly. Granted it can be a consultant\'s way to drum up business but it\'s becoming a term used to express the further reaching impact of doing business digitally and recognition that not all business is going to be done via \"hunt and peck\" clicking on websites. Much of it, however, emanates from the need for … [Read more...] about Digital Distributor Starts with eCommerce Product Content
How Distributors are Adapting to Changing Buyer Demands
Customer expectations are changing how distributors are doing business. They expect more. Some of your competition offers more. And you need to offer more to retain customers and have a hope of capturing new ones. And the changes are much more than offering an online website. There are other technologies you currently own that need to be leveraged as well as data insights. … [Read more...] about How Distributors are Adapting to Changing Buyer Demands
Survey Says … Give Websites Good Product Data
Quality product data is the difference between an \"adequate\" website and one with \"quality\" data that is valued by customers. And \"valued\" is determined by increased traffic, increased sales, a better search experience and being easier to be found via better SEO. The concern, and challenge, according to distributors is that many, if not all, current sources commoditize … [Read more...] about Survey Says … Give Websites Good Product Data
The Future of Marketing Groups?
Could True Value\'s new ownership model be a opportunity for independent distributors and their marketing groups? Many have asked about the future of marketing groups. While IMARK is a cooperative and according to Bill Weisberg a couple of years ago, AD will revert to a cooperative (with the essence of cooperatives being member-owned), perhaps there is another alternative … [Read more...] about The Future of Marketing Groups?
Home Depot … Pros, Website, Analytical Tool Investments to Grow the Business
Earlier today Home Depot presented at the Raymond James 39th Annual Institutional Investors Conference. While, overall, Home Depot is not a significant competitor to electrical distributors, if you serve the residential electrical contractor / builder market or the small contractor market, they are a significant competitor (and our eCommerce Contractor Insights survey showed … [Read more...] about Home Depot … Pros, Website, Analytical Tool Investments to Grow the Business
State of eCommerce According to Electrical Contractors & Buyers
According to a recent study conducted by Channel Marketing Group titled \"State of eCommerce, Electrical Contractor & End-User Insights\", electrical buyers are accelerating their usage of online tools for product research, downloading of spec sheets, seeking pricing and checking inventory. While online ordering ranks typically 5th out of six usages, based upon segment, … [Read more...] about State of eCommerce According to Electrical Contractors & Buyers
2018 Multi-Family Market Outlook
It\'s been discussed and forecasted that the multi-family market is going to be down in 2018 ... perhaps by almost 10%. But is a down year a \"bad\" year? Not when the prior year was a record and 2018 is projected to be the second best year. Societal demographics are changing and favor multi-family construction. Consider: Cost of living, and housing, continues to rise. … [Read more...] about 2018 Multi-Family Market Outlook
Distributors, Where Will Your Growth Come From?
By now many have zeroed in on their 2018 sales goals. With DISC, Electrical Wholesaling and many manufacturers coalescing around 4-6% numbers (some a little higher, some a little lower) and recognizing that it can change a little due to commercial or industrial focus as well as, for manufacturers, by product category, we have a “ballpark” for 2018. The number is a little … [Read more...] about Distributors, Where Will Your Growth Come From?
Aligning Compensation with Channel Selling
A core philosophy in developing sales compensation models is to reward salespeople for what you want them to do ... which is sell. Salespeople need to be aligned with their company\'s, and in the case of manufacturer reps their manufacturers, goals. Historically for electrical manufacturer reps this typically related to selling to electrical distributors and their agreements … [Read more...] about Aligning Compensation with Channel Selling
