This month's Data Snapshot looks at the estimated size of the increasingly busy jan-san market.
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Corporate customers now seek an online experience similar to the business-to-consumer model, and distributors must adapt their e-commerce approach accordingly if they hope to increase conversion rates and customer retention. Michael Nagrant, principal consultant, Codifyd Inc., details why this is important and how it can be achieved in the recent MDM Webcast, 7 Key Investments Distributors Should Make to Grow Online Revenue. This article is an exclusive summary of the webcast, which is available on-demand and on DVD at mdm.com/7Investments.
Nagrant discusses:
- Why static sites aren't enough
- The importance of product categorization
- Where distributors should focus their investments
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- 2014 State of E-Commerce in Distribution
- Making Money With Smaller Customers
- Operations as a ‘Lever for Innovation’
What can baseball and Scotland possibly have to do with each other? More than you might think.
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- The State of Analytics in Distribution: 2014
- MDM Interview: Why Analytics is About People, Not IT
- Making Money with Small Customers
Learn about IMI's new e-newsletter Market Insight: Tips and Strategies for Data-Driven Growth.
Sales models in distribution are under stress like never before. Traditional and non-traditional competitors are reaching into what used to be your customers pockets as they become more receptive to change and new supply resources.
Working with data, even if its data you already have in-house, can quickly become overwhelming if you try to do too much all at once.
Wholesale-distributors know the value of analytics, but they are often frustrated with how ineffectively their organizations integrate data into their strategic initiatives. This industry focused report looks at the use of data among wholesale distribution companies.
At this point, it has become pretty well accepted that data should be a part of big decisions.There are many challenges to becoming highly data-driven, though, from technology limitations to information overload. But one common challenge is the tendency to view an indicator or measurement as something that it’s not.
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- Differentiate to Combat Disintermediation
- 2014 State of Distributor Marketing: Distributor Marketing Shifts to Digital
- Disasters Can – and Will – Happen
Balance outside data such as economic news with internal data to plan.
Companies that base "big decisions" on data three times more likely to see significant improvement from those decisions.
One of the biggest challenges companies face in profiting from data is getting buy-in from skeptical employees, because culture is as critical as the data itself.
Three current trends in the distribution industry focus on strategy and being data-informed.
Successfully measuring customer satisfaction can improve the customer-distributor relationship. This article examines some of the most popular metrics and discusses how to develop a strong customer feedback program that can help improve the customer relationship.
This article includes:
- What metrics to track to find out what your customers want
- Problems to avoid in implementing a customer feedback system
- How to maximize benefits from the feedback you receive
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- Commentary: Cutting to the Chase On Digitals Value Proposition
- College Recruiting: Go Beyond Career Fairs
- 2014 Economic Outlook: Building for the Future
How to maximize benefits from information you already have.
This article is a part of MDM's 2014 Distribution Trends Report. The article analyzes the shifting role of analytics in the wholesale distribution industry, including the demand for cleaner data and interactive dashboards.
The annual report was researched and written by MDM editors based on interviews with dozens of wholesaler-distributors, as well as industry experts and manufacturers. MDM also conducted a survey of its readers to uncover the trends outlined in this report.
The full report is available to download in PDF format to MDM Premium subscribers. Subscribe below for full access. Or log-in if you are already a subscriber.
Trends outlined in the 2014 report include:
- Leaving Economic Uncertainty Behind
- Connecting the Dots Online and Offline
- Need for Access Whenever, Wherever, However Drives Mobile Adoption
- Avoiding Information Overload Essential with Analytics
- Making the Case for Millennials in Distribution
- Training, Technology Take Front Seat in Employee Retention Strategies
- Better Inventory Management Through Data, Collaboration
- Distributors Seek More Complete Strategy for Vending
- Private Equity Consolidating Markets
- A More Practical Approach to Product Expansion
- Trend Snapshots for 13 Sectors
The report also includes the following case studies and interviews:
- 2014 MDM Market Movers
- Engman-Taylors Cost-Saving Teams
- Capitol Coffees Proactive Problem-Solving
- Redwood Plastics Online Success Story
- MDM Market Leader Profiles
- DGI Supply: Building on the Core
- F.W. Webb Takes Diverse View of Market
2014 Distribution Trends Report now available.
Distributors that adopt a more sophisticated analytics program can gain significant competitive advantage.
Hiring the right person to run your analytics is the key to a successful program.
The three things distributors need to focus on to grow profitably.
An effective POS data collection system will provide you with a competitive advantage.
