GoToMarket Strategy: Sales Channel Partners Your Logo Chad Vetter - - PowerPoint PPT Presentation

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Go‐To‐Market Strategy: Sales Channel Partners

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Chad Vetter Global Sales Manager Bradley Corporation

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John Benzinger International Business Manager Angelus Corp / PIC Wire & Cable

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What Does your Ideal Representative Look Like? How do you….. Find them?...Screen them?.....Select them?...... Manage them?......Motivate them? Best Practices in Sales Channel Management

Systematic Process to Select, Manage and Engage Channel Partners

02/ 27/ 2020 Milwaukee, WI, USA

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Background – Bradley Corporation

Commercial Washroom Industrial Safety Solutions

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Route to Market – Research Your Options

• Understand the pros & cons of each route to market:

1. Direct Sales 2. Representative 3. Distributor / Wholesaler 4. Agent 5. Strategic Alliance 6. Joint Venture 7. Corporate Overseas Entity

• Sales Office
• Warehouse
• Production

Know what value added service your channel partner will bring to the buyer’s experience?

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Route to Market – Taking Action

• Option 1: Get Help

– Industry Trade Groups, Publications, Tradeshows, and Fairs – Private Consulting Firms / Professional Staffing Firms – Local Chamber of Commerce, Rotary Club, etc. – US Department of Commerce (Gold Key) – State Department of Commerce – World Trade Association – Foreign Government External Trade Groups (JETRO) – Referrals

• Option 2: Find Candidates Your Self

– Research builds network connections – Research enhances market understanding

International Resource: Basic Guide to Exporting: The Official Government Resource for Small and Medium-Sized Businesses (ITA)

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Route to Market – Taking Action

• Step 1: The Search. Create a pool of 5-10 candidates

– Who has contacted you already and why? – Who sells your competitor’s products? – Parallel Companies Matrix: What non-competitive brands do your current distributors sell? Of these brands, who do they use as distributors within your target area? – Other research options: key word searches (internet), tradeshows, trade publications, and referrals

• Step 2: Introduce yourself and explain the reason for your
• call. Gauge their interest. Have 2-4 general questions you

can ask to any candidate.

• Step 3: International Candidates should complete a
• questionnaire. Finish a due diligence check.

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Route to Market – Taking Action

• Step 4: Narrow down your search to 1-3 firms
• Step 5: Create a Scorecard

– Have a number of questions – Use a weighted point systems

• Step 6: Read Kiss, Bow or Shake Hands (Morrison/ Conaway)

for international travel.

• Step 7: Visit and interview each company

– Get to know the key individuals – See as much as you can (office, warehouse, showrooms) – Try to meet as many people as you can, especially the sales team – Ask questions, use the scorecard, request a sales plan. – International Candidates, Do they understand US business practices?

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Route to Market – Onboarding/ Set the Tone

• Step 1: Take time to reflect and then make your selection

Consider the intangibles – motivation/ stature/ reach/ trust

• Step 2: Emphasize the importance of this decision
• Step 3: Set the expectations

a. Metric driven KPIs - $$$ b. SMART Goals – what will they do to promote your product? c. What will you do to support them? (Let them suggest) d. Terms & Conditions

• Step 4: Contract and Starter Package

– Exclusivity vs. Non-Exclusivity. Renew Yearly. – Starter Package – The “How To” to work with you.

• Step 5: Fanfare

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Route to Market – Managing Distribution

• Monthly or Quarterly phone calls
• Review KPIs and Goals for both parties
• Ask questions, highlight wins
• Discuss challenges, create solutions
• Visit
• Year end review

– Did they meet your expectations? – Did they fulfill their KPIs and Goals? Why or why not? – Do you want to continue? – If they did well, what comes next?

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Questions?

• Global provider of engineered electronic cables & interconnect solutions
• Military, corporate, commercial aviation & transport applications
• Private company; Jim Griffin owner/CEO since 2002
• Headquarters in Sussex, Wisconsin (Milwaukee)
• Customers: Airbus Helicopter, Leonardo SpA, Elbit Systems
• ISO 9001, AS 9100 Certified

PIC Company Overview

• PIC Wire & Cable pursues a “design‐in” sale

– Engineers make buying decision during design specification – Long delay in seeing orders (can take years)

• Access to key engineers is critical at target customers
• Patience is necessary

– “Design‐in” leads to long‐term sales – The $$ are worth the wait

• People placing the orders usually didn’t make the sales decision

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Understand Your Sales Model

• “Designed‐in” systems find their way into other markets –

built strong reputation

• Contracted Sales Engineer in England Covering Europe
• Company from Israel approached us to be our sales arm for

Israel, India and Turkey

– This model worked very well for growing sales in their region – One of our strongest sales arms today

• Expanded Israel‐company model (Distributor Representatives)

to other markets

Early Days of Exports

Expansion Through Distributor Representatives

• Product Training
• Joint Customer Visits
• Quarterly Business Reviews
• Strategize Opportunities
• Supporting Reps Internally

– Technical Support – Opportunity Support

• Flexibility with Terms
• Recognize Pricing Pressures
• Sales/Marketing Collateral

Differences

• Understand Differences for Logistics
• Adaptability is Key

Managing Distributor Representatives

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Managing Different Cultures

Source: https://www.hofstede-insights.com/product/compare-countries/

Centralized

• Hire local or send expats to

foreign markets

• Hand down strategy from US
• Directly assign objectives
• Higher cost/overhead

Decentralized

• Find local partners outside of
• rganization
• Trust partners to determine

strategy

• Influence through relationships
• Limited financial investment

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Centralized vs. Decentralized Approach to Market

• Scorecard
• SWOT
• SO WHAT
• Goals & Objectives

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Tools to Manage Partners

Koreen Grube, Director Elizabeth Laxague Rebecca Dash

WEDC INTERNATIONAL TEAM

FANFU LI International Business Development Director – South & East Asia 608.210.6868 Fanfu.Li@wedc.org FRANCISCO CARRILLO International Business Development Director – Mexico, Spain, Central America 608.210.6757 Francisco.Carrillo@wedc.org KATY SINNOTT Vice President 608.210.6838 Katy.Sinnott@wedc.org STANLEY PFRANG Market Development Director – Europe, Middle East, Africa 608.210.6777 Stanley.Pfrang@wedc.org BRAD SCHNEIDER Market Development Director – Canada, South America, Oceania 608.210.6890 Brad.Schneider@wedc.org AARON ZITZELSBERGER International Grants Manager 608.210.6734 Aaron.Zitzelsberger@wedc.org

Division of Agricultural Development

DATCP INTERNATIONAL AGRIBUSINESS CENTER

Jennifer Lu Asia Livestock feed, genetics, lumber and forestry Lisa Stout Canada/Asia/Middle East Processed foods and ingredients Enrique Gandara Latin America/Russia/Middle East; Livestock feed, genetics, equipment, lumber and forestry Ashwini Rao Latin America/Europe/India Processed foods and ingredients Mark Rhoda‐Reis Director, International Agribusiness Center

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Thank you Roxanne Baumann WMEP Director Global Engagement Baumann@wmep.org 262 442 8279