Wholesale & Distribution International - Fall 2017 - 19

How do you differentiate your wholesale offerings
when competitors have similar product lines trying to
sell to the same B2B audience? In a decent economy
that, however, has not been able to grow more than
3 percent GDP over the past 10-plus years, how do
you generate above average sales increases that your
CFO demands?
The answer is to be among the first to
take advantage of the new technology
and smartphones that appeal to the majority of America's workforce.
Baby boomers now make up less than
25 percent of the workforce, a number
that is declining rapidly. Generations X, Y
and Z are willing adopters of smartphone
and social media culture and highly responsive to product offering methodology that blurs the line between B2B and
B2C promotions.
Logoed caps and a cooler are no longer going to affect sales; instead take a
lesson from your kids and research how
business-to-consumer promotions seek
and foster two-way engagement and interaction via phone-based infomercials,
surveys and the holy grail of marketing -
favorable reviews and testimonials.
According to Luke Kreitner, vice president of operations at Loyaltyworks:
"Emails tend to have a 6 percent open
rate. Add a way for the recipient to win a
gift card or order a prize, and it goes up
to 30 to 40 percent. Not bad but you can

do better! The new demographic uses
text and social media and when we do a
contractor opt-in campaign via texts and
offer a reward our open rate is in the 90
percent range."

MORE POINTS OF CONTACT
A D&B 2016 study found that 58 percent of
the B2B sales decision process is already
researched and done by the time the buyer contacts or visits the seller. Now if you
mate that with the fact that the average
smart phone user looks at their phone
more than 150 times per day and that
more Google searches are done via phone
than PC (51 percent vs. 42 percent) then
you would be foolish not to take advantage of this ever increasing trend.
New state-of-the-art contractor/dealer B2B incentive programs take advantage of this trend by drastically increasing contact points with the decision
maker, establishing long-term loyalty
by creating a sense of community and
generating a call to action via easy to
accomplish and quick to reward sales

SPIFS and rebates - all for far less expense and administrative hassle for the
distributor staff and far less paperwork
for the customer.
Although it used to take 8 to 12 weeks
to get a rebate or SPIF check, now your
customer can get a reloadable debit card
or choice of 250-plus gift cards directly to
their phone in minutes. If you can reduce
the time and hassle to administer and deliver a reward you can reduce the cost of
the award and get better benefit.
Modern smartphone technology dramatically increases decision maker contact points, creates a sense of community,
fosters loyalty and testimonials, reduces
the time and hassle of the distributor
administrator, creates an opportunity to
create and correct participant databases for future marketing, and makes the
reward experience better for the participant. You can never have enough marketing or touch points.
Beacons have been a growing factor
in B2C retail for a few years and with the
cost coming down reflect a real opportunity for your counter sales. Simply put:
beacons are your own personal radio
stations that transmit only to your participants and only your message. Imagine
your customer receiving a "special promotion" text as they near your location or
a time triggered "free pizza" promotion
around lunch time. The beacon message
meshes with smartphone communication platforms.
With the perfect storm of technology
and an accepting client population, you
would be remiss not to have a cutting
edge effort that distinguishes you from
your competition. q
Steve Damerow is CEO of Incentive Solutions (www.incentivesolutions.com). He is
a recognized expert and published author,
and hosts the national radio show "Business Matters." Incentive Solutions currently
manages more than 100 incentive loyalty
programs in the wholesale/distribution
sector. He can be reached at sdamerow@
isicorporate.com or 678-514-0203.

Fall 2017 www.wdimagazine.com

19


http://www.wdimagazine.com

Table of Contents for the Digital Edition of Wholesale & Distribution International - Fall 2017

Table of Contents
Wholesale & Distribution International - Fall 2017 - Cover1
Wholesale & Distribution International - Fall 2017 - Cover2
Wholesale & Distribution International - Fall 2017 - 1
Wholesale & Distribution International - Fall 2017 - Table of Contents
Wholesale & Distribution International - Fall 2017 - 3
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Wholesale & Distribution International - Fall 2017 - Cover3
Wholesale & Distribution International - Fall 2017 - Cover4
http://www.nxtbook.com/nxtbooks/knighthouse/wdi_2018_vol5issue1
http://www.nxtbook.com/nxtbooks/knighthouse/wdi_2018winter
http://www.nxtbook.com/nxtbooks/knighthouse/wdi_2017fall
http://www.nxtbook.com/nxtbooks/knighthouse/wdi_2017spring
http://www.nxtbook.com/nxtbooks/knighthouse/wdi_2017winter
http://www.nxtbook.com/nxtbooks/knighthouse/wdi_2016fallwinter
http://www.nxtbook.com/nxtbooks/knighthouse/wdi_2016fall
http://www.nxtbook.com/nxtbooks/knighthouse/wdi_2016summer
http://www.nxtbook.com/nxtbooks/phoenix/wdi_2016spring
http://www.nxtbook.com/nxtbooks/phoenix/wdi_2016winter
http://www.nxtbook.com/nxtbooks/phoenix/wdi_2015fall
http://www.nxtbook.com/nxtbooks/phoenix/wdi_2015summer
http://www.nxtbook.com/nxtbooks/phoenix/wdi_2015spring2
http://www.nxtbook.com/nxtbooks/phoenix/wdi_2015spring
http://www.nxtbook.com/nxtbooks/phoenix/wdi_2014winter
http://www.nxtbook.com/nxtbooks/phoenix/wdi_2014fall
http://www.nxtbook.com/nxtbooks/phoenix/wdi_2014summer
http://www.nxtbook.com/nxtbooks/phoenix/wdi_2014spring
http://www.nxtbookMEDIA.com