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Webinar Preview: Maximize Your Sales ROI by Focusing on 2 Simple Things

Written by Mike Marks on Monday, 11 September 2017. Posted in Webinars, Distribution

During the Sales GPS executive workshop earlier this year, I covered why and how field sales must evolve to meet the changing needs of today’s buyers. During my presentation, I talked about research IRCG conducted for HARDI, the distributor association that serves the heating, air-conditioning and refrigeration industries. I’ll also be talking about it during my upcoming webcast on The Changing Role of Field Sales September 22.

I’ve shared this research many times, and I’ll keep sharing it until people take the key takeaway to heart: that a salesperson’s ability to disrupt the current supplier of a product through their own determination is extremely low. The HARDI research found that only 2 percent of products were switched out due to a hard-charging sales rep coming in and selling a better solution, but a whopping 9 percent was due to a supplier failure, which HARDI termed a Critical Selling Event or CSE.

A CSE is outside of the control or influence of a sales rep, so distributors’ best sales reps (and technical specialists and inside reps) – are winning by doing two things:

  1. Taking care of customers so they never have a reason to leave.

Distributors that design specialized sales roles that fit what their customers really want may find that their field salespeople going forward will play a more consultative role. They will work to broaden the customer’s contacts within the distributor’s organization, making that new customer stickier with each new connection. If you cut churn, you’ll see immediate return on your investment without adding any new customers.

  1. Capitalizing on your competitors’ mistakes by being there to save the day.

Find out how your customers shop and buy, and use that data to design a sales model that meets those needs, ensuring that you are always there for your customers when they need you. For example, a field account manager role might focus on business solutions and the relationship, spending more than 80% of his time in the field and attempting to intercept more than 75% of the available CSEs. A more transactional customer service rep or inside sales rep role could support those field account manager-driven customer relationships while a technical specialist could support those customers on an as-needed basis.

My Sales GPS presentation was so popular that I’ve converted the material into a 60-minute MDM webcast I’ll present on Friday, Sept. 22, 2017. Register today.

About the Author

Mike Marks

Mike Marks

Mike Marks co-founded IRCG in April 1987. He began his consulting practice after working in distribution management for more than 20 years. Over the years, his narrow focus in B2B channel-driven markets has created an extensive number of deep executive relationships within virtually every business vertical in construction, industrial, OEM, agricultural, and healthcare.

Mike has led project teams that improve market access by aligning resources to growth opportunities serving manufacturers, dealers, and distributors. Clients have ranged from small privately owned firms to many of the industry’s market share leaders. Ownership structures have included owner-operators, private equity, ESOPs, and publically traded firms. Mike is proud of the teams work and the confidence clients have shown with additional project work.

He has written extensively, and is frequently quoted on many industry issues. He has substantial board experience on both public and private distribution firms. His contributions to the field include serving multiple terms as a Research Fellow with the National Association of Wholesaler-Distributors, permanent faculty at Purdue University’s University of Industrial Distribution, eight years as Graduate Adjunct Faculty in the Industrial Distribution Program at Texas A & M University, and rendering several precedent-setting expert opinions in contract disputes between manufacturers and distributors.

Prior to forming IRCG, Mike held the position of Executive Vice President at Lex Electronics, an $800 million vertically integrated electronics distributor in Stamford, CT. Mike’s path to management in his early career was through increasing responsibilities in sales and sales management. He also completed a tour of duty as a manufacturer’s representative.

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