PPB December 2017

T he news about Walmart entering the promotional products industry was the hot topic on various forums this fall. From fear of losing market share, to speculation that “my clients won’t go to Walmart,” to jokes about their in-store customer service, many shared their views. Whether you are afraid that Walmart will take a piece of your cake or you think you have nothing to worry about, the big lesson is that the market is changing. You must take action to make sure you make the right moves so your business evolves—especially if you are in a growth phase. First, never take your competition lightly—especially the big ones. Walmart is the world’s largest retailer, and it has been directly competing with Amazon by expanding into e-commerce. To enter the promotional products space, Walmart has reportedly partnered with an industry company who will ease their transition into this new market. Despite the fact that Walmart is a household name withmany resources, I believe that the buyer who will go toWalmart—or any other big online seller—for promotional products is not the same person who prefers to work with a small distributor. That said, we live in an age where online research is often the first step for potential clients who are searching for solutions. Studies show that by the time buyers contact a company, they have prettymuchmade the decision to work with that company. In today’s world, your ideal clients are turning to Google and other online sites to perform their due diligence ahead of time. Once they figure out what they want, they contact their chosen company. The promotional products business is an account-based, relationship-driven business. And thanks to the information that’s readily available on the internet, today’s clients are more educated than ever, so they have higher expectations of their sales reps’ expertise. As a small business, you can, without question, provide a much higher level of personalized service than mega online sources. Studies back this up. In a Harvard Business Review report, 72 percent of decision makers said a sales rep’s ability to help solve their business objectives is a major influence on their buying decision. This is where your opportunity lies—and it’s huge. To attract your ideal buyers, start now by following these six steps that will put you on the right path: Six ways to differentiate your business with personalized service and customer care. by Gloria Lafont Being A Small Distributor Is Your Competitive Advantage 44 | DECEMBER 2017 | GROW