O'Reilly Auto Parts totaled $391 million in earnings during the third quarter while reporting $2.67 billion in revenue. Revenue and net income were both up compared with a year earlier.
UPS saw an increase in business-to-business shipments of 3.4% during the third quarter and continues to see B2B as a key growth area. The company's Next Day Air delivery service has resonated not only with retail customers, but also B2B companies, said UPS Chairman and CEO David Abney.
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Distributors must be able to communicate their value to suppliers to prevent them from selling through competitors or Amazon, says Andrew Tjernlund, marketing director for Tjernlund Services. Distributors should appeal to manufacturers by helping them sell new or obscure products, using clearance sections to get rid of dead inventory and implementing rebate programs, Tjernlund says.
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Some 30% of business-to-business marketers say the digital experience they provide to customers is "poor," and 54% attribute that to a lack of integrated technology, per an Episerver study. "B2B brands need to rethink their online customer experience approach, putting the right people, processes and platforms in place to craft a truly customer-centric digital experience," says Episerver's Joey Moore.
Top sales teams take a focused, long-term approach to training and implement repeatable processes when onboarding new hires, while lower-performing teams are more likely to use a "flavor of the month" approach that lacks a clear long-term strategy, writes Mike Schultz. In addition, successful sales teams customize sales training and tools while turning salespeople into "multi-skilled change agents," Schultz writes.
Metrics aren't everything, but too many leaders are unable to understand, commit to or act on data to drive outcomes, writes Michael Schrage. "Poorly designed incentives -- not mistaken measurement -- pervert numbers, behaviors, and outcomes," he writes.
NAW Institute Fellow Mark Dancer and Mike DeCata, President and CEO of Lawson Products, will have a lively and informative discussion about how distributors can lead in the age of B2B innovation, defeating disruption and reinvigorating our business economy through digital transformation. Register for NAW's Nov. 14 "Welcome to the Age of B2B Innovation" webinar, sponsored by PROS. Can't attend? Register anyway and we'll send you a webinar replay link.
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Large Company CEOs, CFOs and operations executives attend these roundtables to benchmark solutions and strategies with distribution executives who are at the top of their game. The companies invited into this community are from distribution firms between $100 million and $1 billion in annual sales. You'll experience the best networking in the industry, share ideas and benchmark with your C-suite peers in distribution -- who aren't competitors. Register today.
