Fastenal earned $284.6 million in the third quarter, up from $243.5 million in the year-ago period, on revenue of $1.8 billion, up from $1.55 billion. The distributor credited the growth to robust demand in the industrial capital goods and commodities markets and noted that prices remained relatively steady.

Distributors are well-positioned to create online marketplaces because of their seller networks and vast amounts of transaction data, but they need to make sure these sites can be trusted by sellers and buyers, writes Ryan Lee, founder and CEO of Nautical Commerce. Marketplaces should also incorporate fintech and logistics functions, while using purpose-built platforms to save time and money, Lee writes.

The market for logistics acquisitions is slowing due to higher borrowing costs and a weaker freight market, industry experts say. Sellers are forecasting high earnings, but buyers are struggling to finance deals, according to John Anderson, operating partner at Greenbriar Equity Group.

Distributors can use "a combination of cloud-based machine learning, APIs and low-code techniques" to automate product data work and create more comprehensive content for their e-commerce sites, writes Eric Hills, CEO of WrangleWorks. This allows distributors to save money, while "meeting customers' online expectations and separating themselves from the competition," Hills writes.

According to Gartner, 70% of enterprises plan to increase their spending on sales technology this year, and there are important changes on the way in the next five years. For example, the metaverse "will fundamentally change collaboration, engagement and connectedness," with augmented and virtual reality growing into a vital sales channel, writes Gartner's Jordan Turner.

Marketers seeking to fill the gap in waning user-level tracking are testing incrementality scores, which measure the response within specific markets or geofenced areas compared to total media spending. Executives testing the tactic say they're realizing sales gains but note the process can be costly and requires a longer-term commitment to see results compared with traditional multitouch attribution.

Markers of resilient companies include the ability to make agile, informed decisions, build teams that are self-sufficient, nurture leaders who can coach others in a crisis and see the importance in investing in top talent, write McKinsey partners Dana Maor, Michael Park and Brooke Weddle. "These companies prioritize leadership development and thus are driven by adaptable leaders who can facilitate the kinds of behavioral adjustments and mindset shifts required to be resilient in the face of change," they write.

One-on-one meetings with direct reports are more effective when they have a clear purpose, active listening from leaders and end on a proactive note, writes John Schwepker, executive vice president of sales at Abstrakt Marketing Group. "Actions speak much louder than words, and maintaining a set schedule for one-on-ones lets your employees know you are serious about their success," Schwepker writes.

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