Petrogram - Fall 2018 - 17

KENTOH/SHUTTERSTOCK.COM

Next, have your CFO call your software vendor and ask them to come
to your site for a process review. Be
involved in that meeting. Show them
your lists and find out if the system can
do those functions. If the process can be
done in-system but is so cumbersome
your people prefer their own methods,
address this with your vendor. In my
experience, however, most handwritten
and spreadsheet functions are being
done that way due to habit or simply
not knowing how to use the system.
By shifting to automated processes,
you'll save time and money that can
be redeployed into customer and prospect "wow" experiences that produce
high ROI.
4. Diversify to gain more wallet share.
If the term "wallet share" is unfamiliar to
you, it just means what each customer
spends with you. So rather than market share, which is a percentage of the
available people buying from you, this
approach means staying with a smaller
customer base that spends more per
customer with you by diversifying.
In this case, to achieve market domination, you provide more products

and services than anyone else to your
top-tier customer base. What else
should you provide? Ask your customers! Ask what products are critical
to their success and why the current
supplier isn't ideal for one reason or
another. Opportunities abound if
you ask the right questions of your
key customers.
5. Have a specific, measurable "domination target" number communicated
and tracked with passion. In this day
and age of dramatically and drastically
moving fuel prices, marketing teams
are experiencing brand new levels of
stress and demands in their jobs. There
are deep needs in human beings to feel
they are making a difference, and if you
can provide some fun, even better.
The best way to rally the best effort
from your troops is with a meaningful
corporate goal that is visible, tracked
closely and, more importantly, really
matters to you and them. Communicate
it, track it and create contests and games
around it. Make it hugely visible so it
builds energy. Make it be a number you
can share passionately with suppliers,
bankers and customers.

Then slice it down into individual milestones so you can have
mini-celebrations on your way to
success. Move from long-range to
end-of-year to quarters to months.
Then tie at least one of each individual
employee's job measures to an activity
that supports these goals.
When you seriously move forward with
marketing your strengths, creating deep
customer friendships, using new efficiencies to fuel "wow" experiences, diversifying to do more for great customers and
rallying around an easily understood,
specific market domination goal, you will
reach that goal - and even have some fun
while you do!  ●
Since 1991, Betsi Bixby and the Meridian
team have provided insight and services
to more than 3,800 petroleum marketers, growing and expanding their market
share while increasing their cash flow
and profits. Being the leading petro valuation provider in the nation, Meridian is
also trusted for buy/sell transactions. To
find out what Meridian can do for you,
visit www.AskMeridian.com or call us
800-728-9005 for immediate assistance.
Petrogram

|

Fall 2018

|

17


http://www.AskMeridian.com

Table of Contents for the Digital Edition of Petrogram - Fall 2018

Chair’s Perspective
How Gas Stations and Convenience Stores Should Prepare in Advance of an Eminent Domain Taking
C-Stores See Competitive Edge in Higher-Quality Hot and Cold Food Offerings
Five Market Domination Strategies to Deploy for Even More Profits
The Florida Lottery: Building Brighter Futures
Calendar of Events
Index of Advertisers/Advertiser.com
Petrogram - Fall 2018 - Intro
Petrogram - Fall 2018 - cover1
Petrogram - Fall 2018 - cover2
Petrogram - Fall 2018 - 3
Petrogram - Fall 2018 - 4
Petrogram - Fall 2018 - 5
Petrogram - Fall 2018 - 6
Petrogram - Fall 2018 - 7
Petrogram - Fall 2018 - 8
Petrogram - Fall 2018 - Chair’s Perspective
Petrogram - Fall 2018 - How Gas Stations and Convenience Stores Should Prepare in Advance of an Eminent Domain Taking
Petrogram - Fall 2018 - 11
Petrogram - Fall 2018 - C-Stores See Competitive Edge in Higher-Quality Hot and Cold Food Offerings
Petrogram - Fall 2018 - 13
Petrogram - Fall 2018 - 14
Petrogram - Fall 2018 - 15
Petrogram - Fall 2018 - Five Market Domination Strategies to Deploy for Even More Profits
Petrogram - Fall 2018 - 17
Petrogram - Fall 2018 - 18
Petrogram - Fall 2018 - The Florida Lottery: Building Brighter Futures
Petrogram - Fall 2018 - 20
Petrogram - Fall 2018 - Calendar of Events
Petrogram - Fall 2018 - Index of Advertisers/Advertiser.com
Petrogram - Fall 2018 - cover3
Petrogram - Fall 2018 - cover4
https://www.nxtbook.com/naylor/FPCQ/FPCQ0418
https://www.nxtbook.com/naylor/FPCQ/FPCQ0318
https://www.nxtbook.com/naylor/FPCQ/FPCQ0218
https://www.nxtbook.com/naylor/FPCQ/FPCQ0118
https://www.nxtbook.com/naylor/FPCQ/FPCQ0417
https://www.nxtbook.com/naylor/FPCQ/FPCQ0317
https://www.nxtbook.com/naylor/FPCQ/FPCQ0217
https://www.nxtbook.com/naylor/FPCQ/FPCQ0117
https://www.nxtbook.com/naylor/FPCQ/FPCQ0416
https://www.nxtbook.com/naylor/FPCQ/FPCQ0316
https://www.nxtbook.com/naylor/FPCQ/FPCQ0216
https://www.nxtbook.com/naylor/FPCQ/FPCQ0116
https://www.nxtbook.com/naylor/FPCQ/FPCQ0415
https://www.nxtbook.com/naylor/FPCQ/FPCQ0315
https://www.nxtbook.com/naylor/FPCQ/FPCQ0215
https://www.nxtbook.com/naylor/FPCQ/FPCQ0115
https://www.nxtbook.com/naylor/FPCQ/FPCQ0414
https://www.nxtbook.com/naylor/FPCQ/FPCQ0314
https://www.nxtbook.com/naylor/FPCQ/FPCQ0214
https://www.nxtbook.com/naylor/FPCQ/FPCQ0114
https://www.nxtbook.com/naylor/FPCQ/FPCQ0413
https://www.nxtbook.com/naylor/FPCQ/FPCQ0313
https://www.nxtbook.com/naylor/FPCQ/FPCQ0213
https://www.nxtbook.com/naylor/FPCQ/FPCQ0113
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0412
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0312
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0212
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0112
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0411
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0311
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0211
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0111
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0410
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0310
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0210
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0110
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0409
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0309
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0209
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0109
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0408
https://www.nxtbook.com/nxtbooks/naylor/FPCQ0308
https://www.nxtbookmedia.com