Keys to Gaining or holding onto your place as preferred supplier.

James Dominello

Post “9/11” Marketing. 

Issue No. 3

Keys to gaining (or holding onto) your place as a preferred supplier.

In the marketing profession, it is often said that, “Before you can have Share of Market, you must have Share of Mind.” But, according to research, sharing of information may do more for your market share than advertising. That’s right! A major research study of the high-tech industry* indicates that 7 of the Top 10 reasons why a company is chosen as the “preferred” brand has nothing to do with issues of price, technology, quality ... or even advertising. Sure, these are important issues ... perhaps some are even critical in today’s marketplace. But, the factor which resonates above all else, is your ability to deliver customer satisfaction.

Customer satisfaction is an aspect of Customer Relationship Management that focuses on the intensity level of the buyer/seller relationship. Typically, it measures areas, such as response time to answering customer problems, trust levels of answers provided, and being treated better. Although this may sound a bit “touchy-feely” for many folks, the facts speak otherwise. The ability of customer service people to perform mundane tasks can be related directly to your company’s bottom line. Cahners Carr Research Report No. 270.1 indicates that 62% of purchases go to vendors who are in the “least-preferred” category. However, the combined sales for this group, totals only 9% of all purchases. Conversely, those companies with “preferred” status, are likely to capture at least five times greater market share (46%).

Helping companies improve customer service to the level of a preferred supplier is not a marketing area, per se. But marketing becomes a whole lot more effective when a company is excellent at handling the details. In this regard, how does your company rate?

ü Do your inside sales or customer service personnel have easy access to information needed to satisfy customer needs? Or, is this a weak link in your firm that leads to poor response? 

ü Not discounting the value of people-to-people contact, can online information technology be used to provide an alternative means for customers to gain quick answers to routine questions?

ü Is your sales force burdened down with requests for routine information? With the cost of an average B2B sales call approaching $300, can their time be put to more productive use?

These are areas where our E-Business ally, Gene Bohn, works to improve information technology -- through the integration of data already existing in your system. His company, E-Commerce Technology, will custom-tailor E-Commerce solutions to help you accomplish these goals, while still allowing your company to run existing software. To find out more, call Gene at 574-848-9386. Or e-mail him at gbohn@ectmichiana.com.

If, on the other hand, you need expertise in B2B marketing communications programs, then visit www.dominello.com for case histories. Or call Jim Dominello at 574-272-4962.

*Refer to Cahners Advertising Research Report No. 270.1, found at www.cahnerscarr.com

Dominello & Associates, Creative/Marketing/E-Commerce Alliance

Post Office Box 833 ཉ Notre Dame, Indiana 46556-0833 ཉ T (574)-272-4962

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