Most distributor members in our quarterly Industry Outlook survey are optimistic for 2024, projecting more than 3% growth for the year. How will they get there? A sustained focus on their people, partnerships and profitability.
Here are three ways you can elevate your operations for growth in 2024.
1. Elevate your hiring game.Our members consistently say one of their biggest challenges is attracting and hiring the right people.
Just over 73% of distributors in our recent Industry Outlook survey, a benefit for NetPlus Alliance members, said the top challenge facing their teams this year was finding new team members.
“After trying to hire for multiple positions, we have found we need to pay for strong talent. Unfortunately, that is easier said than done as a small company. We have found some better talent recently than the last few years, but we are still looking for stronger, independent leaders,” one distributor member said.
Another member said: “Some of our salesforce is nearing retirement age, so for us, finding replacements internally or externally will be a challenge in today’s very competitive marketplace.”
What’s working for some of our members? Improving work-life balance, increasing compensation to attract top talent and adding performance-based pay incentives.
We have partnered with CareerPlug, a hiring software company with a proven playbook that shows you the way to make the right hires. Every NetPlus Alliance distributor member receives a free account that comes with a branded careers page, pre-built job templates, and a configured hiring process. The solution automates many of the manual steps of the hiring process, with built-in evaluation tools to help identify, interview, evaluate, and hire the right person.
2. Devote time and resources to training.
Not only does skills training attract and retain strong employees – a Gallup survey found that 66% of younger workers ranked new skills as their third-most important perk when evaluating opportunities – it can also help you serve your customers better.
Your customer-facing teams must understand the new products and the market needs of customers you’re targeting. Training can also provide continuity in knowledge throughout your company, from the inside sales team to outside sales.
Today, distributors have many options to meet training needs in person, virtually and through platforms like the NetPlus Academy, powered by BlueVolt. Available free to NetPlus distributor members, the platform is packed with 965 industry-specific courses led by nearly 50 preferred supplier partners, ensuring sales pros and other team members become experts on products, tools and best practices. We also host onsite supplier training events.
NetPlus has invested in OpenSesame to provide members with access to a range of business-related training courses, including business skills, technology, certification prep and more. Those courses are also available on the NetPlus Academy, powered by BlueVolt.
3. Commit to mutual growth in the channel.
The closer you can work with your supplier partners, the better you can serve your customers, especially in the face of challenges such as:
- Supply chain slowdowns and shortages
- Economic uncertainty
- Rapidly changing customer needs
- Labor shortages
- Margin pressure
- Consolidation
Our Growth Plus sales planning program is designed to enhance and strengthen partnerships between our distributors and suppliers. Partners embark on special activities, marketing initiatives, and training programs that sharpen the distributor’s product knowledge and selling capability. Suppliers also benefit from Growth Plus with access to new markets, increased distributor engagement and targeted marketing for maximized impact. With the Growth Plus program, average growth between NetPlus distributors and suppliers is over 40% year-over-year, two times the average.
Don’t sit back in 2024. Take a strategic and proactive approach, partner with the right suppliers and take advantage of training and programs that help your team sell more.
