The story of David and Goliath… and the 66 other Davids that are out to get you.
It’s tough to compete against big box stores and large online retailers.
Simply put, they’re bigger than you are and they have more of everything. More resources, technology, people, distribution capabilities, brand recognition, economies of scale, etc. The list could go on.
This is true of all industry, including the “made-to-order” manufacturing sector. Whether you’re selling directly to end-users or through vendors/partners, it can be demoralizing when your prospects pick them over you.
It can feel like David vs. Goliath.
Sorry to break it to you, but there’s more to the story. It’s actually David vs. Goliath and 66 other Davids (the other small manufacturers that you’re competing with). In the US in 2014, there were 251,901 firms in the manufacturing sector, but 248,152 of them were considered to be “small”. So, for every “Goliath”, there are 67 “Davids” trying to grow their business too.
While it’s important to consider how you can compete against the biggest players out there, what may be more critical to making your business successful is being better than others like you. Seem overwhelming? Fortunately, there are things you can do to stand out against the 66 other Davids. Here are some ways we think you can grow your business:
- Be easy to do business with: Customers and vendors like simplicity. If you have the choice of spending either 40 minutes or 4 minutes completing a task, which would you pick?
- Get closer to your customers: Understand their needs and personalize their experience. Find new ways to communicate with them. Build a competitive edge based on good communication and trust.
- Focus on existing customers: Your vendors sell products from your competitors too. Make it easy for them to sell your stuff first. Grow your wallet share.
- Improve delivery and logistics operations: The number one question that we hear is “Where’s my stuff”… make it easy. Communication! Communication! Communication!
- Be open 24/7: Many of your customers work after hours. Find new ways to get them information when they want it. Put relevant information and tools online.
- Boost sales rep productivity: The average sales rep only spends about 25% of their time selling. Give them time back by automating other parts of their job.
- Refuse to lose: Why do your customers leave? How much would your business grow if you didn’t lose one customer this year? Make changes to better serve your existing customers.
Who knows… making some of these changes may even help you beat Goliath once or twice.
Here comes the pitch… We can’t solve all of your problems, but we definitely can help. Seradex has been providing software solutions to the made-to-order manufacturing industry for 25 years. Our newest product, DBOX, is a self-service customer and dealer portal with add-ons to delight your customers, reduce your costs, and help drive your company’s growth.
Join us for our next Webinar to learn more:
Thursday February 16, 2017 from 2:00 PM to 2:30 PM EST
Or visit our website to find out more: http://www.seradex.com/seradex-dbox.php