Margins are declining. Growth rates have become lower than the market standard. What’s going wrong, and how can you fix it?
You’re not alone, and it’s not too late to right the ship. Only an estimated 25% of distributors recognize when it’s time to renovate their sales model in order to keep pace with this paradigm shift. These companies develop a new approach, rather than trying to make their old approaches better.
In fact, when growth rates drop below market, it indicates a change in competitor behavior. This could mean that customers are taking their business elsewhere — bad news for you. Likewise, declining margins create pressure on profit. With that pressure, the impulse for distributors can be to try harder to remedy their old strategies instead of focusing on updating strategies entirely.
Watch now as Mike Marks tackles questions about how to know when your sales model needs a refresh: