Okay, I'm not saying that company leadership is not "intelligent", but it does help leadership if it has access to intelligence as in market insights. While sales can provide some market, and customer-specific, insights, information needs to be aggregated, analyzed and sought from multiple sources in order to identity and evaluate the market to identify opportunities, set (or … [Read more...] about Market Intelligence to Inform Leadership
Winning the HVACR Product Data Revolution
In June HVACRTrends hosted a webinar introducing the Trimble / Distributor Data Solutions (DDS) collaboration. The two companies shared what they are seeing in the construction trades and how data is being used, and will be used, to help companies operate more efficiently, more effectively, and as a tool to capture market share. Takeaways Two key takeaways from the session … [Read more...] about Winning the HVACR Product Data Revolution
SPAs, or Ship & Debit, can be Sales and Profit Drivers or Drags
SPAs, or "ship and debit" are special pricing agreements can be an important sales (or marketing, since price, theoretically, is a component of the marketing mix) tool. Over the past few years we've seen SPAs generate attention from technology companies (Interlyx, Enable, CMR, Vistex, TrulinX, and many of the ERP companies). All see the mantra of "digital transformation" as … [Read more...] about SPAs, or Ship & Debit, can be Sales and Profit Drivers or Drags
Structured Data, a Prerequisite for AI Industrial Manufacturers
In the realm of Industrial manufacturing, the potential of integrating Artificial Intelligence (AI) could be a competitive advantage. One of the critical components underpinning the effectiveness of AI is structured data. Structured data refers to organized information that is formatted for easy analysis and interpretation by machines. In the context of HVACR manufacturers, … [Read more...] about Structured Data, a Prerequisite for AI Industrial Manufacturers
Driving Share and Sales with Customer Loyalty Reward Programs
Industrial distributors and manufacturers are fighting to retain market share and seek growth in a challenging market. Typically, the most profitable strategy to strengthen, deepen and broaden opportunities within existing customers. An effective tool to achieving this is also a time-tested strategy for many Industrial distributors and some manufacturers ... contractor … [Read more...] about Driving Share and Sales with Customer Loyalty Reward Programs
Tips for Industrial Distributors to Improve Gross Margin
Corporate success, for many, is typically defined as sales success as sales revenue is an easily identifiable, and discussed / shared, metric. But in a quest to grow sales, and due to competitive pressures, gross margins for many distributors have eroded making gross profit dollars scarcer for investment back into the business. And with operating costs increasing and … [Read more...] about Tips for Industrial Distributors to Improve Gross Margin
Rebates … The Gift that Keeps on Giving
Editors Note: CMG Trends publishing Electrical Trends (ET) and this article on rebates has been edited and shared with Industrial Trends readers. When you mention rebates to distributors and manufacturers and you’re sure to have an interesting conversation. Manufacturer Views on Rebates Manufacturers question their efficacy in driving incremental sales, express frustration in … [Read more...] about Rebates … The Gift that Keeps on Giving
ChatGPT, AI, Office, Teams and More Technology to Power Your Industrial Business
Within distribution there is a continuous, and increasing, call for distributors, manufacturers, and manufacturer representatives to “invest in technology.” And I would presume that companies are spending more on technology / digitalization than ever before. It may not show up in the IT budget, but marketing, pricing, sales, warehousing, manufacturing and other departments now … [Read more...] about ChatGPT, AI, Office, Teams and More Technology to Power Your Industrial Business
ERP … The Heart of Your Industrial Channel Business
There was a phrase years ago that is attributed to EF Hutton, which was a financial advisory firm that goes “when EF Hutton speaks, people listen.” The inference was that EF Hutton had a wide reach, and somewhat influence. The same goes for Epicor given how integral their Prophet 21 and Eclipse ERP platforms are for many HVACR distributors.So, when Frank Heenan, Global VP of … [Read more...] about ERP … The Heart of Your Industrial Channel Business
The Rep Alignment Dilemma for the Industrial Channel
Whom to support? The rep alignment dilemma ... whom to align with to generate sales? End-users? National chains? Independent supportive distributors? Any distributor who will support the manufacturer? The manufacturer? But, the bottom line becomes, what will generate sales to meet manufacturer expectations? It's complicated, and channel consolidation and channel … [Read more...] about The Rep Alignment Dilemma for the Industrial Channel
