Dorn reposted this
Rather than solely relying on point-of-sale (POS) data, James Dorn and John Gunderson advocate for a strategic shift towards leveraging comprehensive market intelligence to identify untapped opportunities at various levels, from national to individual customer accounts. By harnessing this data, businesses can tailor their sales and marketing strategies, foster stronger partnerships, and gain a competitive edge in their respective markets. KEY TAKEAWAYS: - Market intelligence data offers a quantified view of demand for manufacturers' products, enabling targeted market development efforts. - Manufacturers and distributors can collaborate more effectively by focusing on market intelligence rather than solely relying on POS data. - Understanding market potential at different levels allows businesses to make informed decisions and prioritize resources accordingly. - Data-driven insights empower sales teams to identify growth opportunities and develop tailored strategies for specific markets and customers. - Market intelligence data enhances manufacturers' ability to differentiate themselves and gain preference from distributors by offering actionable insights and targeted programs. For more insights like this, visit https://lnkd.in/gC7k-MWk #MarketIntelligence #ManufacturingGrowth #DistributionStrategy #DataDrivenDecisions #BusinessPartnerships
Electrical, Lighting, and HVAC Distributor, Rep and Manufacturer Consultant Specializing in Growth, Strategy, channel, Marketing and Market Insights
2moIn some cases, if they provide SPAs to their distributors for customers they have POS data at the customer level. In some instances they need POS, at least at zipcode level, to support agent / rep commission. They also have some of this if they do split commission for projects, as they need to compensate sales. The challenge ... it requires work to pull data from disparate systems.