Americold makes gains in booming cold storage market | Opinion: Grainger benefited from lowering prices | SpartanNash board picks Hacker to take over as chairman
The popularity of online grocery shopping is creating demand for additional temperature-controlled warehouses, prompting entities such as Americold Realty Trust to fill the gap. In 2020, Americold developed cold storage sites worth a record $461 million.
Distributors should take note of Grainger's move to reduce prices, which likely "jumpstarted new business for the company," write Ian Heller and Jonathan Bein of Distribution Strategy Group. They also warn distributors against focusing exclusively on pricing and trying to force customers to use e-commerce.
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Distributors can ensure safety and security at warehouses by assessing properties, security cameras, video management software and access control and intercom systems, writes Patrick Chown of Safe and Sound Security. Warehouses should also have appropriate safety signs, while parking lots should be secured and workers should be regularly informed about safety practices, Chown writes.
Distributors should strive for "continuous improvement" of their e-commerce platforms by evaluating search result accuracy, search engine optimization, product recommendations and stock availability information, writes Susanne Adam of SAP. Adam also recommends optimizing e-commerce sites for mobile devices, examining business workflows and providing quality customer service and self-service.
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Kantaloupe CEO Roie Raitses explains five ways business-to-business marketers can improve buyer enablement, starting with understanding buyer problems at the individual, buying group and industry levels. Help buyers get others on the purchasing team on board by providing valuable content as "[b]uyers are rewarding sellers who embrace the role of adviser and support specialist," Raitses writes.
Business-to-business marketers can better influence buyers by focusing on four personality types -- "sharers," those who are "success-oriented," "steady Eddies" and "challengers," advises Carbon Design Founder and CEO Scott Gillum. "Success-oriented" buyers want content that helps improve performance and are prime candidates to become brand advocates, while "steady Eddies" won't be persuaded by marketing alone and will need prodding with the help of influencers, Gillum writes.
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Being persistent when your goal remains elusive is a recipe for failure, writes Dan Rockwell, who recommends exploring different options instead of waiting for a breakthrough. "The difference between grit and boldness is the willingness to try something new," Rockwell writes.
Succession plans should focus on a vision for the position, not the person who will eventually fill it, and any moves should be made deliberately and give a successor time to settle in, writes Chris Schultz, president of Raba Kistner. "Particularly for a family business or an organization that has seen minimal change over the years, it can be helpful to gather insight from a third-party source," Schultz writes.
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In this free NAW webinar on April 6, at 2 p.m. Eastern, Ian Heller and Jonathan Bein will evaluate the marketplace strategic options available to distributors, such as becoming a third-party seller on a merchant-owned marketplace, becoming a third-party seller on a marketplace not owned by a merchant, building your own marketplace, the imperative for an industry-owned marketplace, and opting out of marketplaces. Register now! Check out the full Adding Value in a Post-Pandemic World series! Sponsored by Oracle Netsuite.
During this 90-minute open discussion, you'll exchange ideas with a trusted network of C-suite peers in distribution. Companies belonging to this community are from firms that exceed $1 billion in annual sales. There is no formal agenda or speakers -- just you and more than a dozen of your friends in distribution discussing today's pressing issues. Last year, participants shared how they were protecting their employees during the pandemic and more. Don't miss this opportunity. Register today!
Most businesses started 2021 with a hopeful outlook as news of re-openings and vaccines dominated the news cycles. Trusted NAW Partner, Creditsafe, can help you take a look at what went on in Q1 with credit, finance and data professionals who will provide unique insights into the events and news of the quarter as well as thoughts about the prospects and outlook for Q2 and the rest of the year.
