Distribution Industry Survey Results: Learn How Successful Distributors are Using Targeted Marketing
The data is in on targeted marketing in the distribution industry and we're going to…
A great place to start in unseating a competitor is not with competitive information but with your own customers. A careful and precise view of your current customers is the necessary backdrop on which to evaluate all of your competitive research. This is especially true for your best customers who are the types of customers you want to lure away.
A profile of your best customers contains information that assists you in understanding their values, needs and goals. It includes their purchasing behaviors, interests, hot buttons, attitudes, preferences and decision styles. It can take some work to set up, but it is the key to putting the rest of your competitive playbook in context. Fortunately, a distribution-specific CRM solution makes it a lot easier to track the things that are important to your customers.
Where should you start? We recommend tracking the following items in your customer profile. Of course, you can add as much detail as you like with each customer or prospect.
Basic demographic information
Industry and purchasing information:
The pains and concerns they typically face:
The myriad benefits of good customer profiles are beyond the scope of this report. From a competitive strategy perspective, all of these questions and more help you recognize opportunities to best your competition with service and product offerings that better match your customer profiles.
For example, when a competitor eliminates or reduces a particular type of service, wouldn’t it be great to run a report that lists all of the prospects who need that service and currently use that competitor? That kind of list can make you first in line when the customer or prospect starts shopping for a new source.