Tech Data has finalized its acquisition by private equity firm Apollo Global Management for $6 billion. The distributor separately said it will spend $750 million on transformative technology through mid-decade, CEO Rich Hume said.
The Indian River Consulting Group's Pandemic Revenue Index of 10 distributors fell by 11.42% the week of June 22 to 26 compared with a year ago. "There remains a fair amount of sales volatility among the distributors participating in the index," IRCG said.
The desire for customers to have a contact-free experience as businesses reopen during the pandemic presents an opportunity for brands to adopt voice technology and mitigate anxieties, Blue Fountain Media's Brian Byer writes. He explores its different uses, explaining why "voice technology has now become imperative where it was once simply a nice-to-have."
Distributors need to pursue value-added processing and information services, in addition to logistics, in order to compete, writes Jonathan Bein of Distribution Strategy Group. Gather competitive research by asking customers what services they want and what's already in the marketplace.
Pivot to a strategy that serves prospects instead of selling them to generate quality leads, TerDawn DeBoe writes. An approach that demonstrates genuine concern for individual business challenges and offers tailor-made solutions will not only convert leads ready to buy, but will cultivate relationships that could develop into future sales and referrals, DeBoe writes.
Take the annoyance and fatigue out of video meetings by injecting levity and small talk while keeping the meetings short, writes Nick Morgan. "Finally, if the video call is with a regular team and you don't need to show anything immediately on the screen, try the old-fashioned phone conference," he writes.
Distributors have made progress in navigating through this unprecedented disruption, but much more is needed. In this live webinar, we will follow up with Michael DeCata, President and CEO of Lawson Products, to hear how he is navigating through COVID-19 and how it has accelerated his plans around innovation. Mark Dancer, author of NAW's "Innovate to Dominate," and Richard Blatcher of PROS will explore with Mike how distributors must implement an "innovation ecosystem" to compete in the new normal. Register today! Sponsored by PROS.
Subscribe to the new NAW Podcast Series: INNOVATE TO DOMINATE, sponsored by PROS so you don't miss a single episode. In episode 1, listeners will learn about INNOVATE TO DOMINATE and what it means in the context of COVID-19. This podcast series is centered around the findings in NAW's "Innovate to Dominate: The 12th Edition in the Facing the Forces of Change Series," which helps distributors connect the dots between the forces of change, the things that are reshaping how customers buy, and how businesses operate.
