Distributing Ideas, The NAW Blog
Fight Complacency to Win Today – Value Creation Strategy #8
It's 2019 and more than 197 million people visit Amazon each month to browse more than 12 million products, according to BigCommerce. The numbers go up every day. But distributors don’t need to be afraid of Amazon. They need to innovate and sell to customers the way today’s customers want to buy. It’s that simple. Complacency in the current market will lead you nowhere. As Thomas [...]
Distributors Can Unlock Profitable Long-tail Accounts with AI – Leveraging the Power of AI #9
Most distributors rely on a few top accounts to drive a majority of revenue. Sales teams focus on these large buyers because that is where they are most impactful. But, tons of untapped potential revenue lies stored in the numerous small accounts that fill out distributors’ account books. Until now, distributors have been unable to provide the personal service necessary to grow these small [...]
An Open Letter to the Sons and Daughters of Distribution – Distributors in the Digital Era #71
This blog post is for the sons and daughters of distributors; it is food for thought for your Thanksgiving gatherings! Please help this go viral by sharing it on social media or any way you can! Use our hashtags #b2binnovation #innovatetodominate #distributorsrock The threat of disruption and the opportunity for digital transformation are coming to distribution. The battle is already [...]
Personalization Sells. This Is How It Works – Leveraging the Power of AI #8
AI knows us better than we know ourselves. Have you ever wondered how different services accurately predict what tv shows, or books, or songs you like? How retail sites find clothes or items that you want to buy even before you know they exist? It’s not magic. It’s just well-executed data analysis. Consumer data reveal preferences and predict likely future outcomes, and when it comes to [...]
Reboot the Real World and Win by Being Human – Distributors in the Digital Era #70
Over the last many years, distributors have faced down one challenge after another including the emergence of big-box retailers, disintermediation by manufacturers, the financial crisis of 2008 and more. Distribution survived because of the strength of their customer relationships and an ongoing commitment to gain efficiencies by investing in business systems and information technology. Faced [...]
Are You Taking Advantage of NAW’s Value Proposition?
Hope your personal summer season went well and your fall business season has started successfully. For me and Parksite, I’ve always loved this time of year. Our business, though seasonal, is usually quite strong and we are sprinting to an exciting finish. Planning meetings for the coming year are in full swing, supplier sessions, trade associations and conferences bring an air of excitement [...]
Nix Data Silos to Cash In on AI – Leveraging the Power of AI #7
Data silos have always been bad for business. They limit employee performance and sow dysfunction among different teams by restricting access to information. As Big Data and AI become major forces in business, the negative effects of data silos will become even more severe. Distributors should integrate databases now and employ comprehensive AI to avoid the data silo trap. Although AI [...]
How Is Your HiPo Program Working For You? – Developing Your Workforce #18
Many distributors have initiatives aimed at developing high-potential employees. However, identifying the employees with high potential (HiPo) can be challenging and is highly subjective. This is partially because different organizations may define high potentials differently. As a result, the characteristics and abilities that an employee must possess to be classified as a “HiPo” is [...]
Do Your Customers Trust You to Provide Real-time Service? – Distributors in the Digital Era #69
In a recent Forbes article, “Moving Beyond On-Demand To The Real-Time Economy,” Kyle Jackson predicts, “In the near future, we’ll see the demand for instant gratification and access to information intensify even more. On-demand is no longer just a gimmick; it’s a reality. As the dust settles on these changes, a new real-time economy will emerge.” This prediction is consistent with [...]
5 Questions to Ask Your AI Vendor – Leveraging the Power of AI #6
AI will create trillions in business value within the next few years, but that cash won’t be distributed evenly. Not all AI is equal, and only distributors who invest in the right AI will profit. Knowing what questions to ask your AI vendor will put you in the position to capitalize on the AI value boom. AI is predicted to create $2.9 trillion of business value in 2021. Yet, many [...]
