Marketing Moment:  Lost in the Market? Let the 5-Cs Guide You By Desiree Grace Let’s get something straight: Marketing is not a walk in the park. It’s often underestimated, but the importance of good marketing is equal to having a solid map on a remote trail without WiFi. Frameworks like the 5-Cs help us navigate unfamiliar terrain and create order out of chaos. The 5-Cs are your compass, a tool that helps you analyze and strategize, guiding you through the marketing wilderness. You’ve probably heard of the 4-Ps: Product, Place, Price, and Promotion, the classic Marketing Mix. Let’s ditch the amateur level and talk about something more advanced: the 5-Cs. The 5-Cs are a framework for conducting a serious situation analysis. It’s how you take a long, hard look at where your business stands, where it’s heading, and how to outsmart the competition. Think of it like an annual inspection for your car, a health check that could save you from an overheated engine down the road. The...

I recently attended the AHTD Spring Meeting.  I always enjoy these meetings.  They keep me up to date with the industry and always provide plenty of networking opportunities.  It's important to eat meals and have drinks with future friends (I've never met a stranger) to gain insight.  During an after-hours meeting one night, a brand-new sales manager asked me about keeping customers as prices continue to rise. I thought back to an article I wrote for IMARK Now Magazine.  Specifically, I addressed how distributors could find new customers and nurture their current customers.  I began the article with these half dozen thoughts I believe distributors everywhere should use to better focus their businesses:    Thought One:   Over the years, distributors have done a poor job of selecting their customers.  In many instances, it is the customer who selects the distributor for reasons often unknown to the distributor. Thought Two: The cost of br...

Years ago, one seasoned distributor executive said, “One of the natural laws of distribution is that you will lose between 8-10 percent of your business every year.  Companies change direction, close their operations, are acquired by others, and a mess of other things.  If you don’t plan for this, you will be forever behind the eight-ball.”  The message was shocking.  While I am not sure his percentages were entirely accurate, the message was true.  Customers do occasionally go away.   Having a solid source of new customers is important.  Yet, according to our 2022 State of Distributor Sales research, only a dismal 34 percent of distributors are happy with the number of new customers brought into their organization each year. The distributors we spoke with went on to state that traditional salespeople were their primary source of new customers.  It has been my experience, and this research further illustrates, that distributor salespeople do a poo...

We are honored to be featured on the cover of the latest IMARK Today magazine.  It's a quick, but worthwhile read on how to find and nurture new customers. Check it out  HERE . ~or~ copy and paste: https://imarkelectricalnow.imarkgroup.com/Editions/Fall-2021/Features/How-to-Find,-Nurture-New-Customers Frank Hurtte is the Founding Partner of River Heights Consulting. He combines the battle scars of 28 years of front line "in the trenches" experience with over 13 years of service to knowledge-based distributors and their manufacturer partners. Email or call today to make these virus-driven times work for you.