Product knowledge is a crucial tool for closing sales. It instills customer trust, builds rapport, creates a positive customer experience, and helps increase sales. Product knowledge is particularly important at the point of sale. This is where the rubber meets the road, and if a certain product or brand isn’t top of mind, then one product may be passed over in favor of another, more “familiar” brand.
In Part 1 of this blog series, we explored how independent distributors can pool their resources through the “Power of One” to service larger regional and national accounts. In this second part of “Maximizing the Value of National and Regional Account Opportunities”, IBC offers ideas and solutions in order to create win-win-win opportunities that lend themselves to a cohesive national account program.
In this blog series, we’ll be exploring how independent distributors can leverage their pooled abilities and efforts to service larger regional and national accounts. In Part 1, we’ll explain how IBC helps distributors centralize their operations for the customer to standardize pricing and consolidate billing. Part 2 will outline five best practices that lend themselves to an extremely cohesive national account program.
Our blog series on supplier diversity programs first introduced the concept of engaging with diverse-owned suppliers in business contracts and other opportunities. In the subsequent blogs, we explored why it’s important for companies to include these programs in their business plans, and how to undertake supplier diversity. In this final installment, we’re featuring a success story from Koyo/JTEKT North America, illustrating how a properly implemented supplier diversity program has helped this Tier 1 supplier meet both its internal supplier diversity goals, while helping its key OEM customers support their supplier diversity initiatives up the supply chain.
IBC’s blog series on supplier diversity programs has explored what supplier diversity is, its role in a company’s business model, and why it’s important to OEMs. In our final post, we’re sharing tips and considerations for implementing a supplier diversity program.
Supplier diversity is important for many reasons. Unfortunately, misconceptions about supplier diversity in the supply chain still exist. Many people believe that it is a quota system designed to benefit selected groups and nothing else. This belief fails to understand that a competitive advantage exists for OEMs that integrate supplier diversity into their manufacturing and operations. Organizations who have already implemented an effective supplier diversity strategy have realized the benefits.
Most manufacturers have moved toward e-commerce to increase sales, cut costs and grow their companies. A Forrest Research study projects that manufacturers, wholesalers and distributors will sell $780 billion to other companies via the web this year. And that figure will reach $1.13 trillion by 2020!
Every company in today’s marketplace needs an effective website. The site should present a professional image, with accurate representation of the company in order to brand and present consistent messages to the customer. The site should provide information about the company’s products or services, and have a page dedicated to commonly asked questions in order to quickly produce the answers. Current industry trends that your audience has an interest in should be highlighted as well. People visiting your website will not spend their precious time searching for what they need. Your average visitor will scan the pages for about 4 seconds, so the information they are looking for should jump out of the screen at them.
Building, hosting and maintaining a website is an ongoing job. Many businesses think they can build a website, post content and move on to the next project. However, just because a website looks good, it doesn’t mean that it’s functioning properly in the search engines. Interestingly, some of the most outdated looking websites do amazingly well in search result pages because the SEO work is being done properly and the content is good.
Forbes has reported that the B2B e-commerce market is projected to be worth $6.7 trillion by 2020. Many companies are becoming more and more aware of how to increase their revenue by expanding their online operations, therefore identifying other benefits.