It’s no secret that 2009 was a year rife with challenges for the material handling industry. Most distributors reported sales decreases for 2009 and are glad to have it in the rear-view mirror. Now the calendar has flipped to 2010 and there is a renewed sense of hope among the 50 distributors interviewed for The MHEDA Journal‘s Annual Industry Forecast. Optimism is back, as 68% of those interviewed are expecting sales increases, but it is tempered by a still-uncertain economic outlook.
The recession has resulted in a new business landscape. The rules that govern the path to success have changed, and here are 10 strategies that distributors are using to write the new rulebook:
1. Make It Easy for Customers to Find You
2. Spend Time with Customers to Build Relationships
3. Offer New Products and Services
4. Expand Your Facilities and Personnel
5. Improve Internal Processes and Procedures
6. Sell the Added Value of Distribution
7. Concentrate on the Aftermarket
8. Focus on Training
9. Restructure Your Business Development Teams
10. Purchase More Inventory
Read the article to learn more and hear from others within the Industry the strategies that work for them.
10 Ways to Make Money in 2010, Distributors Suggest Strategies for the year ahead.