While our 2015 Big 50 List and video countdown continue to lead the way on ID, our September/October distributor profile on Fastenal lets readers know the ins and outs of one of the most well-known industrial distributors. Articles on millennials sales compensation and differentiating in distribution were also popular, as was Grainger's August sales report.
Here's this week's Top 5:
The 2015 Industrial Distribution Big 50 List: Our Big 50 Video Countdown debuted on Aug. 27 and held the top spot on the Top 5 for three straight weeks, finally unseated this week by the Big 50 list version. The list version doesn't include commentary like in the video, but rather serves as a quick reference source. Commentary about, and by, Big 50 companies can be read in our Big 50 List feature in our September/October digital edition.
Distributor Profile: Fastenal: ID executive editor Anna Wells examines how keeping customers as close as possible while still providing strong fulfillment, inventory, and service levels make Fastenal the ultimate “big small” company. Winona, MN-based Fastenal – No. 12 on the Big 50 – is looking to improve its relationship with top customers with its new Fastenal Onsite program.
New Age, New Pay: Millennials And Sales Compensation: This article by Indian River Consulting’s Mike Emerson got major attention on our website since it not only focused on Millennials, but also on how this generational set wants to be compensated. Emerson tries to unravel that complex requirements when it comes to sales compensation, and determines that Millennials DO care about the bottom dollar, but are less motivated to get on board with your company if your package is heavily weighted in commission.
Headwinds, Oil Continue To Hurt Grainger In August: Grainger – No. 3 on the Big 50 – reported its sales information for the month of August on Monday, which had a familiar theme as foreign exchange continues to have a negative impact and the company's Canadian business showed declines. For August, Grainger total sales declined 2 percent year-over-year, including a 3-percentage point decline from from unfavorable foreign exchange and a 1-point increase from acquisitions. Organic sales were flat, with a 1-point increase from volume, offset by a 1-point decline in price. In Grainger's Canada business segment, sales declined 22 percent in U.S. currency and declined 7 percent in local currency. Grainger's sales in its Other Businesses segment increased 6 percent in August
How To Differentiate In Distribution: In this article by sales guru Paul Reilly of Reillysalestraining.com, he discusses the different ways distributors can separate themselves from their competition, creating a uniqueness sought by customers. "Too many distributors just sell products. If you’re just selling product, you’re missing opportunities to differentiate," Reilly says. "If you’re just selling product, Amazon wins every time. How many different ways can customers buy the products you sell?"