Today, all of my clients are winning because they are generalists and they say that their biggest value to customers is being one-stop shops. They’re winning business because customers are interested in vendor consolidation. When they can be a generalist and have customers buy a whole host of complementary products and services from them, they can take the competition. They not only increase their sales, they increase their profitability.
So how can you be a generalist in your business? What can you do today to become more of a one-stop shop to your customers? Can you add services to support your products? Can you add training? Can you add multiple product lines? Can you add partners that you can refer business to? In this environment of vendor consolidation and risk management, customers are preferring to buy from fewer people rather than buying from more.
Great article Colleen. Currently going through this with one of my best clients. Hope to know soon if we made the cut or not.
Any suggestions ? Thanks
I am just watching a case were a swimming pull manufacturer specialize only fiber glass swimming pools, He is the best there is, in his podcast always advised about the specialization, he said that this is one of the main factor of his success.
[…] A video from Colleen Francis – “How to Benefit from Vendor Consolidation.” Today, all of my clients are winning because they are generalists and they say that their biggest value to customers is being one-stop shops. They’re winning business because customers are interested in vendor consolidation. Click for the video […]
You can still specialize in swimming pools but be a generalist in terms of offering them services and products to compliment and maintain the pools.