| In the business world comes the age-old question | | | | On the Distributor side, it is all about (or should be |
| of what do our businesses need to grow, much | | | | all about) customer service. Again, without |
| less survive in these economic times? | | | | customers, we die quickly. Let's say that |
| Manufacturers, distributors and reps all need to do | | | | Distributor Z decides to diversify into a new |
| one thing to stay in business: sell. Salesmanship | | | | industry. They want (read: wish/yearn/desire) the |
| 101 dictates that companies need to have 'feet | | | | best lines, the best available tools and personnel |
| on the street' promoting their wares, or the | | | | to succeed. They need (read: must-have) to have |
| products of the manufacturers for which they | | | | the right (and trained) talent and basic tools to |
| either rep or distribute. | | | | successfully penetrate the market. They also |
| At this point, companies will strategize and | | | | need to determine with whom they will align |
| brainstorm to determine how best to go to | | | | themselves (e.g., manufacturer, rep, etc.). |
| market. This is where the wants vs. needs come | | | | Extensive market research will have to be done |
| into play. All companies would like the luxury of | | | | to ensure a successful venture. The days are |
| having (and affording) the best salespeople in their | | | | gone for reckless exploratory missions that fail |
| markets. However, it brings up those simple | | | | miserably. However, these days are ripe for |
| questions such as 'how much can we afford?', | | | | diversifying in new projects. |
| 'what are our realistic short-term and long-term | | | | Having the right talented people is the key to any |
| goals?' and 'what is our payback period or | | | | successful business model. The days of |
| return-on-investment (ROI)?' | | | | speculative hires are over. Companies are not as |
| Let's take an example on the manufacturer side: | | | | willing to take chances on unproven talent. This |
| Company X is considering entering a new market | | | | makes it difficult for people from outside of our |
| with a great product. Things that they take into | | | | industry to break in and have a chance for |
| account are marketing costs, manufacturing | | | | success. Just a short while ago, hiring someone |
| processes, training, possibly new personnel, | | | | simply to 'take them off the street' was fairly |
| amongst others. In order to achieve a realistic | | | | common. Today, that same person must be able |
| ROI, they need to decide what basic and | | | | to bring something worthwhile and, in some cases |
| cost-effective items are crucial to success. In | | | | dramatic, to the party. Again, it comes down to |
| years past, large manufacturers would spare no | | | | ROI; how fast will a company get their money |
| expense to promote a new line in order to get | | | | back and start making money for their part in a |
| the word out. That is mostly in the past with | | | | business decision? |
| companies cutting back on the budgets. Company | | | | For another perspective, in baseball, did the |
| X wants (read: fantasizes about) a huge | | | | Yankees need to spend staggering amounts of |
| advertising campaign blitz to share the new | | | | money to be the best team in baseball? Did they |
| information. But they decide that what they really | | | | want to do everything they could to win the |
| need (read: settle for) is a basic marketing plan | | | | World Series? The answer is yes to both. They |
| with samples sent out to their salespeople and | | | | wanted to win and they knew what they needed |
| reps. | | | | in order to achieve that. Their wants vs. needs |
| Agency Y, on the Rep/Agency side, is always | | | | were apparent. They acted on available resources |
| looking to increase their visibility of lines with the | | | | and took advantage of that. Even if one is not a |
| 'A' & 'B' manufacturers; which are more | | | | Yankees fan, we can still learn something from |
| recognized in their territory. Agency Y's wants vs. | | | | them. |
| needs for their business is that they want to | | | | Just like a certain youngster that I know who |
| have the 'A' lines, but they realize that they need | | | | wants the latest (and biggest selling of all time) |
| to take care of the lines that they have. In that | | | | videogame, is unhappy about the negative |
| 30-day business model, no agency can afford to | | | | decision recently given that it is not a need but a |
| do a poor or lackluster job as some did in the | | | | want. Hopefully he will realize at a young age that |
| past. Past performance and reputation will | | | | in real life, in reverence to The Rolling Stones, |
| determine if they are considered for future lines | | | | much is the same as in business in that we can't |
| down the road. | | | | always get what we want. |