www.quantumprofitmanagement.com Quantum Profit Management
Capturing New Customers in Amazon's Marketplace

Bruce Merrifield, President — Merrifield Consulting

•Amazon Supply •market intelligence •AmazonSupply.com •distribution industry trends •business model •eCommerce

Rating: (please click to rate the video)

Capturing New Customers in Amazon's Marketplace

In this conversation, Bruce Merrifield and Randy MacLean of Waypoint Analytics discuss the virtues and utility of Amazon's Marketplace. Realistically, any given product line is going to end up on Amazon. Somewhere, someone is going to bring your products to that market. So why would you cede that part of your market to someone else?

Amazon represents another service or business model for you. It isn't healthy to only do one thing or to expect one thing to work for everyone. That attitude isn't customer-centric, and it is a poor way to generate profits. The best companies have multiple service models; for instance, a business-to-business methodology that is distinct from their over-the-counter sales. You can't – and shouldn't – solve every issue the same way.

Amazon shouldn't be your only avenue. However, Amazon is an excellent vehicle to liquidate old or outdated products. You may have used "warehouse sales" in the past, but a clear plan for outdated and stale inventory is much more effective and more profitable.

Niche products flourish in Amazon's Marketplace. Consider a narrow selection of your popular products. Amazon may provide a much broader reach for your top ten, twenty, or even your top one-hundred products. Sell what you have to as many people as you can, wherever they may be and through whatever model they prefer. Amazon is a popular model and can be a gateway for people to find your company and your other products.

The old standards of distribution, marketing, and sales are eroding rapidly. New ideas, new technology, and new attitudes are changing business. Amazon represents a broader reach, deeper market, and a greater opportunity for your products to be seen. You can pull incremental sales from places where you might never have expected them and would have never gotten them before.

So long as you are making a profit and can do so on a basis that is win-win for you and your customers, then you are improving your company. However, it is vital to have clear cost-modeling that defines and confirms the financial benefits of these new models.

For more information about Bruce Merrifield, visit: www.merrifieldact2.com

The 6 Attributes of Super-Profit Companies

The 2nd of 3 lists defining the markers of Distribution companies outpacing their peers.

The 5 Things Customers Want (brief)

The 1st of 3 lists defining the markers of Distribution companies outpacing their peers.

An Analytical Boost to Service Excellence

Bruce Merrifield and Randy MacLean discuss the handful of key customers in your business, and how to keep them happy and loyal.

LIPA: Prophet of Customer Needs

See how implementing LIPA can give you the bandwidth to be more accommodating to your customers with analytics-based service excellence

The Advantages of Segmentation

A discussion of the benefits of segmentation and how this approach can help distributors achieve far greater levels of profitability.

How to Turn Big Data Into Big Profits!

Top companies like Amazon can leverage big data to predict consumer buying habits. Bruce Merrifield discusses how you can do this too!

Triage Customers & Set Priorities to Increase Performance

Randy MacLean and Bruce Merrifield sit down for a talk about the issues and opportunities, tactics and strategies for increasing profit performance.

Looking at a Customer Whale Curve

Customer whale curves are a great opportunity to view the overall picture of your customer profitability and apply appropriate sales models to each

The Changing Face of Sales

An in-depth look at some historical limitations to sales compensation, and why those factors no longer apply with the availability of LIPA.

Gross Margin Fixation

A fixation on gross margin – without looking at cost-to-serve (CTS) – has blinded countless distributors and limited their ability to achieve profitability.

Cost Structures: What Makes for a Good Sale?

Learn why distributors can't simply rely on gross margin when determining whether a sale will add to the bottom line.

Changing Sales Strategy Using LIPA

Randy MacLean talks about the emergence of a new sales strategy.

How and Why Amazon Drives Change for Catalog Operators

Catalogs still exist, but they have gone online. In this video, Randy MacLean and Bruce Merrifield outline the changing reality of catalog operators.

A Two Step Strategy for Being Number One in Distribution

In this video, Bruce Merrifield turns the tables on Waypoint President Randy MacLean, and asks Randy to strategize on how to beat the competition.

How Customer Segmentation Unlocks Hidden Profits

Bruce Merrifield of WayPoint Analytics teaches the importance of customer segmentation and the insights it can offer your distribution company.

The Element of Pricing

It's not necessary to compete with AmazonSupply on pricing when you've got your ordering and delivery systems, fill rates and customer service at a high level.

Why Come to APIC?

What is the value of the APIC conference for a business, and why does it stand out above other education programs?

Webinar: How to Create a Sales Compensation Plan (pt 4)

Webinar: Quantum Sales Compensation for the Wholesale Distribution Industry: Launching Your Plan