Far too often we see companies not recognize the power of integrating external and internal data. Powerful insights can be developed by combining market and supply data with your own sales figures – or in combination with sales from your distribution partners – to drive revenue growth.
Recently Principia partnered with a building products manufacturer who wanted to focus its two-step distribution partners in underserved markets. The company had its own view on what it believed market demand to be and one distributor had another. An integrated view of the entire market including demand and supply was needed to make the case with its distribution partner on where the best opportunities existed for sales growth.
Utilizing Principia’s customized data products platform, the manufacturer was able to map current demand for its products within uniquely distributor-defined sales territories. Data visualizations provided demand in units, market value and number of projects, in the distributor’s sales footprint. Dealer coverage was overlaid on top of demand for selected distribution centers, with specific dealers and current suppliers carried also referenced by name. The integrated data highlighted where the current level of sales focus didn’t match up with demand. Sales personnel for both the manufacturer and its distributor were redeployed to aim these resources at specific demand pockets within each territory.
The Power of Integrating Market Demand and Supply Data
The result was nearly $10 million of new sales in the first year of using Principia BuilderSeries® data. The company continues to use this supply-demand data to drive engagement with its distributors and their dealer customers in current and other targeted territories.
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