Millennials? Digital-Buying Preferences?
Millennials are presently: 20-36 years old; involved in 85% of B2B purchases; the final buying authority 35% of the time, and will be growing past 50% by 2020. Their Amazon (AMZ) phone app is (statistically) their most valued and frequently used. They want their Amazon B2C buying experience at the office. AMZ owns your Next Generation Customers (NGCs)
Reps, Distributors, Master Wholesalers, Manufacturers: will you ally to be first with solutions for your NGCs needs? Continue reading 115. Selling Millennial – B2B, Self-Serve, Digital Buyers
Must-Read Blog Series
Go to this link for an article on MSC Industrial and Crescent Electric:
Pay attention to the specific features, benefits and design guidelines that are reported. Consider doing the same for the reviews for: Essendant’s (8/9); Hajoca’s (8/28); Cardinal Health’s (8/31); Univar’s (7/30); and Blair Candy (7/25: small-firm story!) Continue reading 114. Reviews on Best Distributor Web Sites: MSC Industrial, Crescent Electric, Essendant, Hajoca, et. al.
Moneyball and Astroball Lessons
The book Moneyball was published in 2003. At the time, Major League Baseball (MLB) managers despised it, because the book made them look like old-school ignoramuses. A highly-recommended new take published in July 2018 and titled Astroball, summarizes the league’s transition since 2003.
Here are a few key points from the book: Continue reading 113. It’s Human Nature to Resist Analytical Opportunities
Who Will Control Millennial Buyers’ Clickstream In 2021?
Millennials are now: 19-36; glued to their smartphones; overwhelmingly Amazon Prime Members; and rating their Amazon App as most valuable and frequently used.
They want their Amazon B2C shopping experience on the job. 73% of all present, B2B buying decisions involve a millennial. 33% of final purchasing decisions are made by a millennial (and climbing!).
Whoever controls Millennials’ digital shopping journeys in 2021 can capture and monetize their clickstream data. Will all verticals that sell anything to Millennials be paying advertising fees to AMZ? Recent news suggests: not without a battle for eyes. Continue reading 112. Investment News for Winning at Cloud Ecommerce in 2021
Problem: Most Distributors Can’t Do Needle-Moving Change
B2B Cloud Commerce will be shaking business models in most channels by 2021. But, many distributors can only fine tune their past. Why? Check the fuzz factor on these four vitals: vision; strategy; innovation metrics; and can-do culture.
A Vision That Engages All Employees (and Stakeholder Groups)
What would employees think if you told them that: Continue reading 111. Re-Tune Your Vision, Strategy, Analytics, and Culture
Big-Accounts Range Widely in Net Profitability
Distributors! When you rank your customers by net-profitability, and then keep segmenting, you can find some amazing facts:
- Pareto’s law applies to big accounts, but only for margin dollars, not for profits! The biggest 20% of companies will contribute around 80% of gross-margin dollars.
- Only a third of the big accounts are net-profitable, and they range from amazingly so to modestly so.
- The middle third will be around break-even before deducting sales commissions and modest losers after deducting commissions.
- The bottom third are losers before commissions due to excessive activity costs for, usually for small-dollar picks and orders
- A few may be shockingly unprofitable.
Continue reading 110. Know and Partner Your Top 2% Highest Profit Value Accounts