Some larger distributors tell their salespeople they need to place a certain number of vending machines per month. Aggressive tactics like this could actually hurt a distributor, regardless of size, if they are unable to provide customers with exceptional service for the lifetime of the account. Part of what differentiates the independent distributor is the specialized service and attention they provide their customers. Without it, there’s little that separates them from their larger, national competition.
That said, independent distributors should view industrial vending and inventory management accounts strategically. That means not every customer is an ideal candidate for vending and those who are will expect flawless service. Here are some considerations on how to use vending and inventory control services to your advantage:
Incorporate Vending with an Eye on Customer Retention
Rather than competing with larger companies on the number of vending machines you can place, start looking at vending as a way to strengthen existing relationships. Use your distinct advantage over your competition — your specialized knowledge and service— as part of services that will drive retention. Help your current customers identify areas that could be improved through industrial vending. Guide them toward solutions that can streamline operations and help them increase efficiency and profitability. The value you provide can substantially lower the risk that they will be enticed with offers from competing distributors.
Offer a Specialized and Flexible Experience
One size does not fit all. No one understands this better than the independent distributor, but what does this have to do with vending? It means that if you sell vending accounts just to meet a quota, your ability to offer personalized service diminishes significantly. Work with your customers on the best plans for them, whether that’s payment options, brand selections, contract terms or machine capabilities. The most successful vending and inventory-management programs are based on flexibility and mutual benefits, rather than a restrictive contract. Vending can be a powerful and customizable tool that distributors can use to cater to their customers’ unique needs. By focusing on quality over quantity, you will find it easier to offer the customer value through helpful data, consumption reports and timely restocking. Doing so will enable you to solve customers’ biggest challenges. Larger distributors may be able to absorb the costs of a failed account, but the smaller distributor cannot. By regarding vending as a value-added service, you can keep up with your customers’ needs and continue to provide them with the level of service they have come to expect.