Distributors have flocked to e-commerce, but many are now realizing that online sales requires something a bit more strategic than a “if you build it, they will come” model. Fortunately, for distributors who are looking for ways to maximize their e-commerce revenue, there’s a simple formula they can use, built around three common metrics: Sessions […]
Category: Sales & Marketing
Sales Travel Will Continue to Be a Mixed Bag in 2022
With the uncertainty of the COVID-19 variants, distributors need to embrace flexibility for how and where they conduct their sales calls with customers. Not being able to see customers in-person for sales calls has hampered some distributors in 2021. Some companies, such as Disney, are requiring proof of COVID-19 vaccination before allowing in-person sales visits […]
Sales Travel Will Continue to Be a Mixed Bag for Distributors in 2022
To continue reading this article you must be a paid subscriber. Subscribe to MDM Already Subscribed? Click here to log-in | Forgot your password? With the uncertainty of the COVID-19 variants, distributors need to embrace flexibility for how and where they conduct their sales calls with customers. Not being able to see customers in-person for […]
Earnest Machine CEO Talks Sales Transformation Lessons Learned
A few years ago, Kirk Zehnder, the CEO of Earnest Machine — a Cleveland-based master distributor and manufacturer of industrial fasteners — realized his company’s sales model wasn’t working. While the traditional model might have served a purpose in the past, it was now passé. He decided to embark on a sales transformation journey, which […]
9 Things to Consider When Choosing a Revenue Growth Management Partner
Be honest, determining how to price an offer can feel like an endless black hole. If prices are too high, you struggle to sell; if they are too low, you leave money on the table and deteriorate category value. When the stakes are this high, it could be in your interest to partner with a […]
Make Sure Your Salespeople Aren’t Stuck in the Past
Maria Boulden’s recent LinkedIn posts and virtual presentations sparked some people to call her the “Sarah Connor of modern-day selling,” she tells MDM with a laugh. For those who don’t immediately get that reference, Sarah Connor is the lead character in The Terminator movie franchise, which features time travel and altered states of the past, […]
The Pros and Cons of Cost-Based Pricing & Other Pricing Strategies
When it comes to pricing anything (B2B, B2C, product or service), there are three key strategies to achieve price optimization: 1. Cost-based or cost-plus pricing 2. Market-based pricing 3. Value-based pricing While there are claims of other strategies, most are offshoots or variations of these three. 1. What is a cost-based or cost-plus pricing strategy? […]
The Pros and Cons of Cost-Based Pricing & Other Pricing Strategies
When it comes to pricing anything (B2B, B2C, product or service), there are three key strategies to achieve price optimization: 1. Cost-based or cost-plus pricing 2. Market-based pricing 3. Value-based pricing While there are claims of other strategies, most are offshoots or variations of these three. 1. What is a cost-based or cost-plus pricing strategy? […]
Sales and Marketing Teams Plan to Build on Pandemic-Induced Flexibility
To continue reading this article you must be a paid subscriber. Subscribe to MDM Already Subscribed? Click here to log-in | Forgot your password? • Distributors are shifting their focus on the traditional inside sales team model to create an approach that better supports customers across e-commerce websites. • A hybrid sales model can include […]
3 Solutions to Common Revenue Management Pain Points
Throughout my years working in revenue management, I’ve found that there are three key revenue management pain points that all professionals in this space experience: My team is unable to deliver results We don’t have enough time to do it right The administrative burden of revenue management While I can undoubtedly wax poetic on each […]
3 Ways to Get the Most Out of Revenue Growth Management
If you’re a senior executive in a commercial function, heck, if you’re a decision-maker in any company, it is paramount that you learn and understand the benefits of revenue growth management. RGM is a multi-functional approach that garners revenue and maximizes profit by leveraging a balanced approach that incorporates sales, finance and marketing. If your […]
4 Signs It Might Be Time to Make a Sales Comp Change
With decades of experience as a consultant to wholesale distributors, I am very familiar with the industry’s sensitivity around sales compensation programs. I recently learned that this sensitivity isn’t constrained to North America or Western countries. A client in China quickly took sales comp changes off the table when discussing potential strategies for improving sales […]
Why Now is the Right Time to Transform Your Sales Model
Distribution executives and sales managers have been lodging the same concerns about their sales models — and sales teams — for many years, says Mike Marks, managing partner of Indian River Consulting Group. And the pandemic has only amplified these all-too-familiar laments. “Salespeople don’t do what I want them to do.” “I’m trying to get […]
