Staying Effective in the Changing World of Sales
Bruce Merrifield, President
Merrifield Consulting
Wednesday, December 04, 2019
•competitive strategy •WayPoint Analytics •management strategies •industry perspective •change management •Innovate for the Future •innovation •operational excellence •Randy MacLean •Bruce Merrifield •Merrifield Consulting •business strategy •strategic planning
Distribution companies need to evolve with the market, and in order to do so one must constantly ask "WHY are we doing it this way?", and "Does this still make sense?". This is an important part of spotting opportunities for innovation. In this video Randy MacLean and Bruce Merrifield discuss how to pay attention to the "switches" happening in your industry, and how to make the most of the opportunities to be ahead of the trends of innovation.
For more information about Bruce Merrifield, visit: www.merrifieldact2.com
LIPA: Prophet of Customer Needs
Bruce Merrifield, President
Merrifield Consulting
Thursday, October 03, 2019
•customer service •WayPoint Analytics •market segmentation •pricing strategies •business math for distribution •LIPA •line-item profit analytics in distribution •eCommerce •activity-based costing •Randy MacLean •customer profitability analysis •Bruce Merrifield •sales strategy •Merrifield Consulting •money-losing customers •strategic profitability analysis •concierge customer service •counter sales •managing profit •analyzing delivery •controlling profits •Business Intelligence
Base-level analytics for distribution doesn't cut it anymore. If you wish to deliver next-level service excellence, you need to use next-level profit analytics to make the job affordable and effective. Randy MacLean and Bruce Merrifield discuss how to use analytics to succeed in service excellence.
For more information about Bruce Merrifield, visit: www.merrifieldact2.com
An Analytical Boost to Service Excellence
Bruce Merrifield, President
Merrifield Consulting
Thursday, September 19, 2019
•customer demographics •market intelligence •WayPoint Analytics •expert interview •LIPA •balance •customer segmentation •business analytics •Randy MacLean •Bruce Merrifield •Merrifield Consulting •business strategy •customer analysis model •managing customers for profit •concierge customer service •Advanced Cost & Profit Analytics
When using advanced analytics, companies can usually identify a small handful of customers who are especially profitable, and generate the core of profit. Once you know who these accounts are, you can give them special customer service to make sure you hold on to your biggest money makers. In this video Randy and Bruce discuss how it works.
For more information about Bruce Merrifield, visit: www.merrifieldact2.com
Getting a Deeper Understanding of Costs
Bruce Merrifield, President
Merrifield Consulting
Wednesday, April 10, 2019
•profit analytics •WayPoint Analytics •cost-to-serve math •cost-to-serve in distribution •LIPA •line-item profit analytics in distribution •High Potential Accounts (HPAs) •High Efficiency Accounts (HEAs) •High Leverage Accounts (HLAs) •customer segmentation •costing rules •business analytics •Randy MacLean •distributor sales analytics •distribution analytics •cost to serve analytics •NBC •NBC (Net Before Comp) •Margin vs NBC •customer profitability analysis •Bruce Merrifield •cost cutting •payroll efficiency •Merrifield Consulting •cost analysis •cost reduction •customer profitability •cost reduction analysis •profitability management •account strategy •profit metrics
There is more to your costs that meets the naked eye. Taking a simple look at things, you can see the items that you make more or less money from overall. You can see which items are profitable. Most financial systems are not refined enough, and don't provide enough information to tell you the whole story of which products make you the most money. You need to find a deeper, more intelligent analytical system to truly understand what to do, and how to do it.
For more information about Bruce Merrifield, visit: www.merrifieldact2.com
Profit-Value Segmentation
Randy MacLean, President
WayPoint Analytics
Thursday, July 26, 2018
•segmentation •customer segmentation •business analytics •Randy MacLean •effective market segmentation •customer segmentation technology •benefits of customer segmentation •customer segmentation framework •segmentation methodology •customer segmentation process •client segmentation model •customer segmentation best practices •client segmentation matrix •account strategy •WayPoint Demo •WP demo •profit-value segmentation
Customer and market segmentation is a critical tool for increasing company efficiency and profitability. With good segmentation, a company can narrow its sales focus to accounts that are a perfect fit, and then offer much better pricing and much more focused service to those accounts.
However, without sophisticated analytical tools, effective customer segmentation is beyond the reach of companies. This video discusses the benefits and the internal methodologies for a segmentation model that produces rapid growth and high profits.
For more information about Randy MacLean, visit: www.waypointanalytics.net
Optimizing Salesforce Pay Through Deep Data Analysis
Bruce Merrifield, President
Merrifield Consulting
Wednesday, May 30, 2018
•profit analytics •profit strategy •QPM •Quantum Profit Management (QPM) •sales management styles in distribution
Companies in North America are frequently giving away 50 to 60% of their profits to their sales force. Based on these numbers, the company itself is apparently a junior partner to the sales representative. It is a shocking idea, but the numbers bear it out. Consider your net-before-compensation (NBC). After you've paid for and prepared your product and run it through your operation and infrastructure, the money you have is your NBC. This is the bottom line of the company, including all pay, commissions, and bonuses. Your sales force is a tremendous expense but the rate of pay for your sales force has not kept up with the available technology or the general evolution of the workplace. Many companies are using old models when determining pay.
For more information about Bruce Merrifield, visit: www.merrifieldact2.com