The Fastener Distributor Index from FCH Sourcing Network and R.W. Baird came in at 66.0 for March, down from February's 66.1. However, the FDI's Forward-Looking Indicator set a record of 78.5, a 4.6-point increase from February.

Best Buy has created a membership program that will provide such benefits as free product installation, tech support concierge services, free shipping and exclusive deals for an annual fee of $199.99. The Best Buy Beta program will debut in about 60 locations this month as part of the retailer's ongoing effort to expand service options and stay competitive with Amazon and Walmart, which already offer membership programs.

Distributors can have a hard time detecting and averting customer churn, but artificial intelligence can reduce this by predicting whether customers are likely to leave, Benj Cohen writes. Distributors need new ways of examining churn because not all customers present the same risk factors and because warning signs like missed reorders often go unnoticed.

Evolutionary psychology and digital marketing expert Tim Ash talks in this podcast about why understanding emotional triggers and behaviors is essential for business-to-business marketing. Ash discusses which emotions drive buyer actions, why marketers shouldn't be scared to explore negative emotions and the role of memory in marketing.

Boost the growth potential of business-to-business direct marketing by auditing and optimizing first-party data, Erik Koenig writes. Prioritize customer retention by delivering personalized experiences and incorporate digital experiences via QR codes into direct mail marketing, Koenig recommends.

"Star Trek" made lore of Capt. James T. Kirk defeating the seemingly impossible Kobayashi Maru challenge by inventing a third option instead of accepting two awful choices, writes Steve Keating. Leaders can emulate Kirk by thinking creatively and "breaking a rule or two that apparently didn't need to be a rule to begin with," he writes.

Boards make better decisions when they can have a good debate, have multiple sources of information and are not afraid to hear bad news, according to research. "For their part, boards can fall into the trap of asking a few tough questions but then effectively rubber-stamping the decision the management wants no matter what," says Aaron De Smet of McKinsey.

How have distributors been innovating their business during the pandemic? Find that out and much more from 10 distributors who tell their stories and share ideas for both surviving and thriving in a drastically changed business environment. Author Mark Dancer shares up-to-the-minute ideas and insights from distributor leaders based on their experiences and lessons learned from the coronavirus pandemic. Order this just-released e-chapter, "Distribution Leans In: Stories of Resiliency and Innovation During the COVID-19 Pandemic."

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 between $100 million and up to $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.

If you missed NAW's free webinar, "Developing a Marketplace Strategy," watch it on demand. Ian Heller and Jonathan Bein of Distribution Strategy Group and Alex Moazed of Applico discussed the latest thinking on marketplaces. They evaluated 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. Sponsored by Oracle Netsuite, Zoro and McFadyen Digital.