How Distributors Improve Customer Retention A common rule of thumb in distribution is that it…
IMARK Showcase — Maximizing IMARK Incentives
IMARK members work closely with their suppliers to maximize profitability, increase market share, and strengthen business relationships. Not surprisingly, many of the questions revolved around ideas to help IMARK members maximize their sales around particular product lines to help maximize their buying group incentives while providing their customers with outstanding products and services.
Because SMP integrates your CRM and ERP data along with sophisticated data analysis and actionable analytics, identifying areas to increase particular purchasing and maximize incentives is easier than ever. Here are two ways SMP directly helps IMARK members.
1. Finding Opportunities
SMP allows you to compare ERP and distribution CRM data (i.e., compare products, purchases, locations, sales data and more) to really understand the patterns in your customer base. That allows you to quickly identify new ways to gain share of wallet or encourage your customers to shift their purchasing toward more of your IMARK suppliers’ products.
You’ll easily be able to analyze which distribution sales patterns and plays worked to sell in the past and create activities for your sales reps to follow up on new opportunities. You can present the data from similar customers into an easy-to-understand graph in a matter of minutes using SMP’s award-winning data visualization tools. Your prospect will be impressed by both your resources and your history with similar customers.
Closing Bids and Quotes
One of the easiest ways to increase sales for IMARK products is simply to focus more on your existing bids and quotes that are stagnant. Most distributor sales reps spend a sizable amount of time and effort into getting their largest prospects to the bid or quote phase of a sales cycle. Unfortunately, a lot of that hard work gets lost after the bid or quote is created.
SMP created a unique process for following up on bids and quotes that result in an average of 25% to 30% higher close rates. We help you follow up with your bids and quotes in specific and measurable ways:
- SMP can automatically create follow-up activities for any bid or quote that meets a particular size threshold. That way, you’ll follow up on your most important large deals without worry and without creating follow-up activities on smaller deals.
- Your sales managers will also gain increased intelligence in analyzing your pipeline around larger deals.
- The increased follow-up and monitoring helps bring together your inside and outside teams in your large bids and quotes.
- You can spend time coaching your team rather than digging through quotes and data. That helps you shape each particular quote to meet the specific needs and competitive requirements of an IMARK supplier related deal increasing your win-rate and profitability.