Looking Back
As I start the New Year, I like to make observations about the previous year. Looking back, 2023 was a year replete with some big challenges for business. Stubborn inflation affected pricing. China’s post-COVID chaos continued exacerbating supply chain issues and accelerated attempts to restore manufacturing. Labor shortages plagued many business sectors. The third-worst year of global economic growth this century (behind 2009 and 2020) slowed sales and geopolitical tensions made us all uneasy. And finally, the use of artificial intelligence (AI) accelerated the pace of change in how business is conducted.
The secret to success in 2023 was adaptability. The best distributors got creative in confronting the year’s biggest challenges. The most important consideration in finding the right path through the weeds was maintaining a focus on customer-centricity. Independent, privately owned businesses’ greatest advantage over alternative channels is their customer relationships.
Selling Then
In the 1970s and early ‘80s, I worked for an international company that distributed welding supplies and atmospheric gases. We sold primarily through independent, privately held businesses. Our field salesforce was comprised of both generalists and specialists. Additionally, the generalists, who were sales engineers, called on distributors in 8 to 10 local territories. The product specialists covered a larger geographic region. Both sales engineers and product specialists reported to regional offices.
The sales engineers were responsible for maintaining personal relationships with their distributors. They managed new product demonstrations, pricing, backorders, administrative issues, and all other corporate communications. The product specialists managed specific technical offerings. For our industry, this included cutting and welding products to identified industries such as railroads, large manufacturers, and other highly sophisticated end-users. As well as all product specialist accounts were assigned to sales engineers to ensure customer-centric relationships.
Selling Now
The sales model above changed radically with the introduction of the Internet. Consider today’s digital-driven Enterprise Sales approach. Account reps have the IoT (Internet of Things), which connects them to all advanced technology applications. Also, the Enterprise Sales rep is now a customer advocate. Communication is largely online and things like product demonstrations can be virtual.
Adapting to digital tools
In conclusion, Enterprise Selling in 2024 requires that sales reps be tech-savvy. To be adaptable to the rapid changes in the sales process make sure your team has the necessary digital tools. Lastly, these include ERP programs, E-commerce capabilities, and artificial intelligence applications, to name a few.
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