“As everyone knows, the last couple of years were not among the industry’s finest. Many of our customers reined in costs, and, as a result, revenues of both distributors and manufacturers took a hit,” Risch writes. “Notice that I said ‘many of our customers’ and not ‘all of our customers.’ Even in the bad times, there were still sectors of end-users who were spending money. The trick is to find those end-users and develop a sales and marketing plan by niche market.”
He recommends looking at macroeconomic indicators to determine which markets are still spending money and focus distributors’
Risch proposes a six-step niche marketing plan. Distributors should target recession-proof industries, create industry-specific marketing materials, restructure sales territories to handle specific industries, attend vertical trade shows, join niche trade associations and host lunch-and-learn events.
To learn more, read the full article, titled “Distributor Niche Marketing,” in the First Quarter 2011 issue of The MHEDA Journal Online at http://www.themhedajournal.org/
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Founded in 1954, the Material Handling Equipment Distributors Association (MHEDA) is the premier source for manufacturing knowledge, education and networking. Through its member journals (http://www.TheMhedaJournal.org), e-magazines, newsletters and industry wiki (http://www.wikimheda.org), MHEDA connects the manufacturers of storage & handling, lift trucks and conveyor equipment and distribution leaders for the purpose of delivering optimal solutions to the users of those products. MHEDA publications are the industry’s voice for all matters related to the latest technology and the most up-to-date processes spanning the movement and storage of all materials. A 501(c)3 organization, MHEDA members span all of North America.