Quantum Profit Management
Quantum Profit Management
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Randy MacLean, President — WayPoint Analytics •order fullfilment •distribution industry trends •efficiency •customer segmentation •market share •customer profitability •customer profitability management •managing customers for profit •account strategy •customer intimacy program •best customers •analyzing orders •customer experience •customer loyalty Wednesday, May 19, 2021—The Five Things Customers Want If you ask your sales reps what customer want, you'll get a lengthy inventory of needs, whims and wishes, as expressed by customers over the years. More than a decade working in LIPA (Line-Item Profit Analytics) with hundreds of the world's best distributors has answered this question much more directly. In reality, there's only five fundamental items that truly influence customer purchasing decisions. Distributors with mastery of these items always lead the market. Moreover, you'll need either parity or superiority in all five to seize and hold a leadership position. If you fail in any of them, competitors that outperform your deficiencies will pass you by. There are no exceptions: you either have them, or you lose. The 5 Things Customers Want Customers are affected and influenced almost exclusively by: 1. availability 2. on-time delivery 3. no product failures 4. smooth (and short) interactions 5. acceptable price What's the Take-Away? Total customer experience determines customer loyalty and market share. You get advantage in your market by executing above your peers on these five items. Superiority on one or more will increase share and profits as long as you're not underperforming on others. If you're feeling margin pressures, evaporating customer loyalty, or an inability to maintain historic profit levels, you're certainly behind your peers on one or more of these elements. Gather your team and get to work on these five items and you'll begin your advance to new records in cash-flow, profits and market share. For more information about Randy MacLean, visit: www.waypointanalytics.net |
The 7 Areas That Need Your Focus (brief)The 3rd of 3 lists defining the markers of Distribution companies outpacing their peers. An Analytical Boost to Service ExcellenceBruce Merrifield and Randy MacLean discuss the handful of key customers in your business, and how to keep them happy and loyal. Why In-House Analytics FailsIn-house analytics initiatives are prone to delivering ineffective information or to outright failure. Here's why. 2020 Q4 Brief - Exploiting / Optimizing the Recovery2020 Q4 is the time companies can take great leaps in market position, actively shaping their competitive landscape for years to come. Getting a Deeper Understanding of CostsRandy MacLean and Bruce Merrifield of WayPoint Analytics discuss different levels of cost analysis, and why deeper analytics can bring much greater benefits. Profit-Value SegmentationCustomer triage is key to profits in Distribution. Randy MacLean share the key elements of costing required to help you assign the right service level. 9 Steps to More Profitable RelationshipsDiscussion about a 9-step process aimed at transforming a transactional relationship with an account into a partnership. Profit Value-Based Customer SegmentationRandy MacLean and Bruce Merrifield of WayPoint Analytics discuss profit value-based customer segmentation. The Advantages of SegmentationA discussion of the benefits of segmentation and how this approach can help distributors achieve far greater levels of profitability. How to Turn Big Data Into Big Profits!Top companies like Amazon can leverage big data to predict consumer buying habits. Bruce Merrifield discusses how you can do this too! Triage Customers & Set Priorities to Increase PerformanceRandy MacLean and Bruce Merrifield sit down for a talk about the issues and opportunities, tactics and strategies for increasing profit performance. Discussing the Enterprise Account Selling Model (#3)Continuance of the Enterprise Account Selling Model video series. Refers to a preceding video. Drawn from Bruce's presentation at APIC on March 1, 2016. Getting Your Salespeople to Negotiate SmarterUsing the negotiation process to achieve CTS savings, allowing you to offer your customers lower prices while leaving the table with a larger profit. The Changing Face of SalesAn in-depth look at some historical limitations to sales compensation, and why those factors no longer apply with the availability of LIPA. Maximizing Account Potential through SegmentationRandy MacLean discusses the value and utility of segmenting your customer accounts. Gross Margin FixationA fixation on gross margin – without looking at cost-to-serve (CTS) – has blinded countless distributors and limited their ability to achieve profitability. Cost Structures: What Makes for a Good Sale?Learn why distributors can't simply rely on gross margin when determining whether a sale will add to the bottom line. Changing Sales Strategy Using LIPARandy MacLean talks about the emergence of a new sales strategy. Why You Should Sweat the Small DeliveriesA discussion on how little extras can sometimes add up to a lot of infrastructure cost in wholesale distribution companies. How and Why Amazon Drives Change for Catalog OperatorsCatalogs still exist, but they have gone online. In this video, Randy MacLean and Bruce Merrifield outline the changing reality of catalog operators. Using WayPoint's High Volume Account Report to Increase ProfitRandy discusses the benefits of the extraordinarily valuable High Volume Account Report. Why Come to APIC?What is the value of the APIC conference for a business, and why does it stand out above other education programs? |