My CABs Changed My Distributorship
In the early ‘80’s, I bought a multi-location, contractor-supply distributor. The employees were panicked about the new owner from outside the industry. But, thanks to CABs, we all won big.
I did a customer-profitability, ranking report. Sorted best customers into segments. Ranked the segments by net-profits. Then, visited five, most-progressive-and-ambitious customers in our best segment. Together, we redefined “service excellence” by 8 metrics. My employees got stoked to achieve perfect service. We proceeded to dominate one target-niche after another. We stole only the most, net-profitable (and growing) customers from our unfocused competitors.
Continue reading 249. Rethink “Digital” with Customer Advisory Boards (CABs)
“As we know, there are known knowns; there are things we know we know. … But there are also unknown unknowns—the ones we don’t know we don’t know”. Donald Rumsfeld (2-12-02)
From Ridicule to Daily Realities
The media ridiculed Rumsfeld’s quote in ’02. Today? As the global economy tries to reboot with sledgehammer “help” from both governments and central banks, surprise snafus are the New Normal.
Continue reading 248. Time to List Your: Known-Knowns to Unknown-Unknowns
Forthcoming Book Nails “Customer Personas” for Distributors
This is my second blog inspired by Susan Merlo’s insightful, forthcoming book on: Digital Sales and Marketing for Distributors. Do: check out my last blog and Susan’s website where you can register for notification of the books release.
And, for generic background information on “customer persona”, see Wikipedia.
Continue reading 246. Your “Customer Personas”
In the News: “$15 Living Wage” v Amazon and Costco Strategies
The “$15-hour living wage” movement will continue. It will: buy votes; liquidate jobs; and boost McDonald’s prices more than the new, net wages. Although many voters are weak at system-thinking math, Amazon and Costco are not.
Continue reading 235. Embrace All-Win, High-Hourly Wages (like Costco)
Why Do Distributors Economically Exist?
Most “merchant” distributors cannot answer this question effectively. So, they fear the unknown, economic boundaries for:
- Suppliers selling more customers direct.
- Suppliers selling (partial) lines through Amazon.
- Integrated Supply distributors taking over their biggest accounts.
- Digital disruptors stealing both spot and big, commodity orders with lower prices.
Continue reading 229. Distributors Create a 3PL, Systems Division
2020 Plans Blasted by C19
The Pandemic has hit most 2020 business plans severely. Action CEOs have:
- Raced to stop the bleeding while complying with C19 guidelines.
- Then, moved to remedial surgery. “Downsize, Upgrade..”
- Maintained a can-do spirit while looking for new, pandemic-created needs to solve (profitably?) amongst both customers and suppliers.
- Made many decisions hoping for best payoffs.
Continue reading 216. Man Plans, God Laughs*. But, Still Bet Smarter