Be a differentiator
The distribution business is built on managing change, building trust, strong relationships, and the ability to find solutions tailored to customers’ needs. The digital marketplace has changed the customer experience. However, today distributors are competing with internet verticals, where relationships are impersonal. By focusing on the customer’s best interest and by staying on the cutting edge of technology, distributors can provide a better customer experience. Moreover, this differentiates them from the internet verticals and enables them to manage the changes in customer behavior.
Sharpen your focus
You have the customer’s trust, now build on it. Your customers won’t use the other verticals if you continue to deliver the best experience. You have the advantage of being more intimately aware of customer needs. Continue to do your homework.
Find the time to view webcasts from the best-in-the-business gurus. These webinars provide insights from top consultants as well as analytics. Distribution Strategy Group, Modern Distribution Management, and the National Association of Wholesalers are three great groups to start with. Additionally, they have daily blogs with industrial news including M&As, earnings, feature articles, events, and up-and-coming webcasts.
Keep digital applications current
Whether you are in the initial stages of your digital journey or are seeking to enhance existing strategies, you must stay current with the rapid changes in the digitalization of your channel. For example, Artificial Intelligence (AI) can serve as a continuous improvement agent. When implemented, AI can optimize and enrich supplier and customer pricing information, relationship content, product selection, promotional strategies, etc.
Managing Change
Managing change is never easy. Navigating the digital customer experience in a rapidly changing world requires time, energy, and financial investment. It demands you have an ongoing focus on delivering the latest product, price, and promotion improvements. Lastly, the challenge is to provide all this in an easy-to-use digital format while continuing to build and strengthen your customer relationships.
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