April 4, 2024 • 26 mins
Unlock the future of digital procurement with us as we traverse the exciting landscape of industrial distribution's transformation.
Experience firsthand how EECO is spearheading innovation by offering self-service platforms that mirror the ease of B2C transactions within the B2B sphere. In this episode, you'll gain unparalleled insight into the three cornerstones of a seamless digital purchasing path: immediate access to pricing, in-depth product information, and straightforward online account management.
Together, we dissect the strategic moves distributors must make to not only survive but excel amid the rising tide of e-commerce.
Prepare to be captivated as we decode the secrets to building robust, user-friendly e-commerce systems, peppered with rich digital content that fuels confident buying decisions. Hear how leveraging data analytics can personalize the customer experience and foster trust, creating a loyal customer base through customized recommendations.
We take you through the continuous loop of innovation, addressing the urgent need for distributors to marry deep product expertise with superior user experiences, thereby crafting a digital commerce ecosystem that resonates with modern buyers. Get ready for a journey that promises to reshape your perspective on the digital shift in industrial distribution.
Remember to keep asking why...
Digital Self-Service Resources:
Digital Age Article
Video Explanation of Registering for an Account
Register for an Account
Other Resources to help with your journey:
Installed Asset Analysis Support
EECO Smart Manufacturing Guide
System Planning Support
Schedule your Visit to a Lab in North or South Carolina
Schedule your Visit to a Lab in Virginia
Submit your questions and feedback to: podcast@eecoaskwhy.com
Follow EECO on LinkedIn
Host: Chris Grainger
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to ECO Ask why, a podcast that dives into
industrial manufacturing topicsand spotlights the heroes to
keep America running.
I'm your host, chris Granger,and on this podcast, we do not
cover the latest features andbenefits on products that come
to market.
Instead, we focus on advice andinsight from the top minds of
industry, because people andideas will be how America
(00:24):
remains number one inmanufacturing in the world.
Welcome to ECO Ask why.
I'm your host, chris Granger,and looking forward to hanging
out with you today.
We're going to dig into a funtopic and it's just been really
interesting and cool to work onthese new episodes with a new
focus.
We started off talking aboutinstall base evaluations and the
(00:46):
power of those, and what doesthat look like.
Then we talked about systemdesign and how you can actually
master the different conceptsregarding system design to make
sure you have the system thatworks for you.
That's what matters, right thesystem that works for you.
Then we started dropping a plow.
We got into some things likesmart motor protection.
Then we started looking intoIIOT solutions, because we know
(01:10):
that that's going to impact andthe way it's impacting the
industrial plant floor right nowis a big deal.
Then we looked at how we can beproactive with power monitoring
.
That was just a funconversation around how that
power monitoring can really playinto the to affect, no matter
what your plan is.
Then our last episode we talkedabout managed versus unmanaged
(01:32):
network switches.
We were really dropping theplow again and going deep in
some technical areas.
Now for this episode, we'regoing to make a little bit of a
shift and we're going to talkabout things that is impacting
every single person, no matterwhere you're located,
particularly in industrialmanufacturing OEMs, contractors
(01:53):
and it's how you engage withyour distributors with an online
presence, because the way youbuy now has really shifted.
We're going to be talking abouthow we're empowering buyers in
this whole digital age.
From an industrial distributionstandpoint, you may wonder why
do I need to listen to this?
Because you're working withdistributors and knowing what
(02:15):
distributors like ElectroquinaCompany were doing to serve the
end user.
It's so critical because thislandscape of procurement and the
way that the buying decisionsare made it's really shifting,
particularly with the digitaltransformation, because it's
reshaping a lot of the paradigmsthat have been existing for a
long time in regards oftraditional customer service and
(02:38):
the way that transactions areheld.
So our team, the group at ECO,we're embracing this.
We've embraced it full-on andwe're offering innovative
solutions for self-help serviceplatforms and we're really
trying to push the boundarybetween the B2B spaces.
Traditionally we're in B2B, butwe want to create more of a B2C
(02:59):
experience because we knowthat's important, because being
able to be a digitally fluentand accessible for our customers
and for you out there listeningto ECO, that's why that's
important.
So we're going to be talkingabout the transformative shift
towards that digitalself-service and this
conversation today, the waywe're going to be working
through.
And if you go back to episode244 of ECO-SY, I pulled a lot of
(03:24):
the things that I learned fromworking with Kurt Anderson on
that episode, because he talkedabout, from an e-commerce
standpoint, lots of ideasregarding how those shifting
seeds of procurement e-commerceare really are here.
So much has changed and we haveto have a strategy and approach
(03:47):
.
If you're a distributor and youwant to serve your end users,
people at manufacturing, yourlisteners of ECO-SY, you have to
be able to do this.
It's really good to see, kindof like behind the curtain, what
distributors are doing to serve.
So let's just talk about this.
What's the genesis of thatdigital transformation for
industrial distributors, becausein the industrial distribution
(04:09):
sector it was historically hasjust relied on brick and mortar.
Where do you have the operationat?
Where do you have adistribution warehouse at, and
can you service these areas?
Can you handle thesetransactions?
And we see this shift now towhere it's more online
self-service, because there's afundamental change in buyer
behavior.
(04:29):
It just is.
We all have differentexpectations.
Think about how you buy rightnow with your personal shopping
experience.
How you buy on Amazon, how yousearch for stuff on Google, all
the different ways that you wantto find information.
You're now expecting that, thatresearch, that comparison, that
purchasing ability with fromyour distributors.
(04:51):
So the distributors now have tohave an infrastructure, a
digital infrastructure, to beable to facilitate this.
And this is where the team atEECA we're really trying to hit
this head on and embracing thisand not trying to hold it off.
It's not like I want to holdthis office long as I can.
We want to embrace this.
So we want to say, okay, howcan we create some online
(05:13):
resources, a self-servicemindset to help the buying
experience?
And how do we do this?
We start by prioritizingreal-time access to pricing and
availability.
That has to be crucial.
We have to be able to give youextensive product information.
We have to give you the abilityto manage your account online,
(05:34):
and we have to do this with anextremely high standard, an
extremely high standard fordistributors, because we're
making a commitment, acommitment to digital innovation
, and that requires aninvestment.
It just does.
And we want to make thiscommitment to ultimately a
frictionless buying journeyFrictionless, like you don't
(05:56):
want to have any friction.
If you're looking for something, you can't find it, you're
going to go somewhere else.
So we recognize there's reallythree pillars, three pillars
that we need to do.
That we focused on to give youthe ultimate capability to
self-serve.
And number one I've alreadymentioned it is that real-time
access to pricing andavailability, because one of the
(06:17):
biggest drivers for digitaltransformation and this
industrial procurement spacethat we're talking about is the
need, when you need a price onsomething and you need to know
if it's available, you need it.
That's it you got to haveimmediately.
It needs to be immediate andit's got to be accurate, and you
really need to have thatexpectation with whoever you're
(06:38):
working with, to get up to theminute information at your
fingertips, because this is acapability that's going to
empower you to make betterdecisions.
That's it.
You don't have to wait on fordelays, for anything that's
happening offline.
No, you'll be able to make thatdecision in a moment.
So, for Eco, what we're doing,we're offering real-time data,
(06:59):
but it's just a criticalcomponent and this is a part of
our value proposition wherewe're really leaning into.
So we have to.
How do you do that?
Well, you integratesophisticated e-commerce
platforms.
This is what we've been workingon.
We have our inventory, we haveour pricing.
We have all the informationthat you need, because when you
need that information, thatinsight, that product, that
(07:20):
pricing, that availability jeezLouise, I can't say that word
you need it when you need it,and it's got to be accurate and
it needs to be a high-leveltransparency.
If you have that transparencybetween a distributor and a
customer, you have a lot oftrust.
That's it, and you becomereliable, and distributors want
to be reliable, because you needto be able to plan and execute
(07:42):
your procurement strategy withconfidence.
And also, this gives youability.
If you have this real-timeaccess to pricing and
availability, you're going tohave dynamic pricing strategies.
So, as a distributor, we canwork things in your advantage as
a customer, based on marketconditions, special pricing
(08:03):
agreements, things that you workout.
We work out with manufacturerson your behalf.
We'll be able to do that.
So inventory levels, customerdemand, all these types of
things can be adjusted becausethis it provides flexibility, it
makes us be more competitiveand it gives you more
personalized approach forpricing and other areas.
(08:23):
So we know that's a big, bigdeal for meeting your needs.
Now, the second big pillar thatwe see for embracing this online
commerce is the comprehensiveproduct information, because we
know without a shadow of a doubtthat you need detailed product
(08:43):
information all the time,particularly when you're trying
to scope out things.
If you're trying to, if you'rein an industrial procurement and
you're faced with some complexbuying decisions, you need to
have product data, you need cutsheets, you need technical specs
, you need to performance data,you need some case studies.
This level of data is essential, absolutely essential, when
(09:09):
you're trying to access theright products, when you're
thinking about compatibility,when you're thinking about
compliance.
You got to have that.
So we recognize need.
Okay, this research component isa crucial level of what you
have to have for a digitalexperience.
So you have to have a digitalplatform that can do that, that
(09:29):
can give you that what we callenriched product, offering the
content that you need thecomprehensive descriptions, the
data sheets, the tech sheets,the manuals, the stuff that you
absolutely need to make ithappen so you can make that
purchase with confidence,because we know you don't want
to make a purchase and then oh,I hope that's right.
(09:50):
No, you want to make it withconfidence.
We also know you don't have todeal with a return or an
exchange because you bought thewrong thing.
So, to head that off at thepass, we have to give you better
data up front.
That's what it's in.
That's what it's all about,because, just an additional to
just the basic things we'vetalked about so far, we're
(10:12):
giving you all the resourceslike tutorials, videos on how to
use this stuff, 3d models, attimes, interactive tools to make
sure you can pick the right andselect the right product.
All this stuff is part of anonline platform that's built to
enhance your experience.
You see what I'm saying.
(10:32):
This stuff creates a moreimmersive and engaging
experience.
It gives you an ability to havea deeper understanding of what
you're using and how they canapply it in different scenarios,
different parts of the productline or different parts of the
manufacturing process.
But you need to know thesethings.
Now.
The third big pillar that werecognize to be true is this B2C
(10:56):
account experience.
Now, when I say B2C, that'sbusiness to consumer, because
when you think of B2B, that'sbusiness to business, that's
very professional.
Definitely it has thatdifferent feel, but a B2C that's
what we experience every day.
When you pull your phone outand you're shopping on Amazon or
you're checking your thing outon different shopping apps and
(11:19):
things on your smartphone,that's a B2C experience.
This is real because werecognize that as a distributor,
you need to be able to havethis same type of experience for
your customers because we'veall grown accustomed to it.
We just have this convenience,this personalization.
This self-service capability isreal.
So they've raised the bar theyreally have For B2B transaction.
(11:45):
It's got to look very similarto a B2C experience because that
buyer you're seeking those samelevels of service and
functionality just from aprofessional workplace.
Now it's hit the floor.
So distributors have had toreally shift and think about
their online platforms to bemore intuitive.
(12:07):
They just have to.
They need to be user-friendlyfor one.
They have to really have somegood features.
This is going to give theability so you can start doing
stuff like tracking orders.
Simple stuff here.
Simple stuff Tracking orders,viewing your purchasing history
how about that?
Manager billing, looking foryour shipping information,
(12:29):
access to your product resourcesand recommendations.
All this stuff has to beavailable for account management
experience.
Now we've leaned in at ecobecause we're enabling all of
our users, all of our customers,to be able to have this.
If you do this, if you do itcorrectly, what you'll do, what
you'll find is you've got agreater opportunity for loyalty
(12:54):
and relationships.
We're in a people business.
Again.
People are not ideas overproducts.
You create the relationshipsand the trust to have this
experience.
What we also are able to do, wecan give you features like
customized dashboards.
Think about this If you want tosee your order workflow or have
(13:16):
a high level view of what youraccounts doing, performance,
things like that, what you'rewaiting on, you want an easy
place where you can go check allthis out.
You've got to have this in.
This is what a dashboard doesfor you.
How about a budget trackingtools to give you some insight
to how things are going?
All these things are part of aB2C experience that distributors
(13:38):
leading end distributors likeEco are leaning into to put that
cost, to put thatinfrastructure rather in place
and it costs, it takes money.
This is an investment thatdistributors are recognizing
they need because they need tocater to the complex needs of
your business.
We have to be more efficient inthe procurement process to
(14:01):
create more alignment with yourprocurement teams, thank you.
With your policies, with yourprocedures, see, all this stuff
ties together.
So now let's think about thisfor a second.
I mentioned Kurt Anderson.
He had some really goodinsights about the importance of
a digital self-service andmeeting your needs.
(14:22):
And that term, digitalself-service I love how Kurt
explains it.
It's encapsulating the growingpreferences among buyers for a
digital experience that allowsyou to independently access
information to make purchases.
That's right and this issupported by some pretty big
(14:43):
sources of data over the years.
Because we recognize, to betrue, that many buyers out there
they just prefer that digitalinteraction over that
traditional sales engagements.
They just do Not to say thatthat traditional sales
engagement is gone.
It's not.
They're still a need for that.
But you have to have theability to provide you with that
(15:04):
buyer that if you'reresearching data at two in the
morning, you need to be able toaccess that data at two in the
morning, the data that you needto make the decision.
Now, if you still need to talkto a sales rep, absolutely we
have to have an infrastructure,and Eco does.
We have some of the best insideand outside sales
representatives out there in anelectrical distribution, but you
(15:26):
have to be able to service themwhen you need this data, no
matter what, and that's whatthis is about.
So I want to kind of just walkthrough here a couple of things
with you around a few strategicimperatives that distributors
like Eco have really had toembrace for this digital shift
moving forward, and the firstone is investment.
(15:48):
We've had to make investmentbecause if you want to develop a
scalable, secure let's makesure we focus on that and
user-friendly e-commercesolution, it's going to take an
investment and I can tell youfirsthand that, working with the
e-commerce team here at Eco,marketing all the different
things that have seen sales, theinvestment in an e-commerce
(16:10):
platform is real and it'sserious, because we recognize,
to be true, that this is wherethe business of the future is
going.
If you don't have these systemsin place to facilitate
transactions at a seamless rate,at a user rate that just
creates a good experience,you're going to miss out.
(16:31):
So you've had to make thatinvestment.
We've also recognized we needto enhance the digital content,
because we've got to give youmore than just a cut sheet.
We need to give you productinformation with specs, guides,
comparison tools, some differentways so you can see how the
products work, how can they fitfor your application, to give
(16:55):
you more information, to makethat purchase with confidence.
We don't want you figuring thisstuff out on the fly.
No, we want you to be movingwith confidence.
We also recognize that we needto have a personalization and
customer engagement is bigBecause if we can have some data
analytics to give yourecommendations hey, thanks, all
(17:16):
of a sudden start changing andif we can start showing you some
services that will help youalong the way, you're just going
to build that trust.
But you do all that through theuse of data.
And you use data when you haveit in a system, in a structure,
in an overall, organized in sucha way that you can make better
(17:39):
decisions.
Because if it's all manual,it's all trapped up here in the
minds of certain, just one ortwo individuals.
There could be gaps, but if youput it in a system where you
can say, ok, this person,they're using these different
types of devices.
It makes sense that we shouldprobably go talk to them about
these associate devices overhere, because they really marry
(18:02):
well together and they may notbe aware of them.
So there comes thatpersonalization.
That's what it's about.
Now we also need to be able toadapt to new behaviors because
we need to recognize that shifttowards digital procurement and
self-service online.
We need to make sure, as adistributor, that we can align
(18:22):
our services to meet thoseexpectations.
So you need to make sure thatyou're not only just building a
system that looks good, but ithas to be functional to the
point that the users that areusing it find value.
If Amazon was just a prettywebsite with lots of pictures
(18:43):
and some good content, but thebuying experiences was a
dumpster fire, nobody would goto Amazon.
But because the buyingexperience is seamless, because
it makes sense, because they say, hey, because you've got this,
customers also put these otheritems together.
How many people besides me havejust you followed that trail?
Because you recognize, hey,wait a minute, that makes I do
(19:05):
need that item, one of those twoitems, those three items to go
with that.
So that type of experience iswhat sets them apart.
They definitely are thestandard and distributors were
working towards that level ofdetail.
It's really neat.
You have to adapt to the buyingbehaviors and, as a distributor,
as you're thinking through thisstuff and the content and the
(19:25):
stuff that you need to create tobe able to do this, it's really
just.
It's fun at times to be able tosay, okay, this is how the
journey should look.
And At least my final point,the continuous innovation,
continuous innovation andlearning.
You never stop learning in thisbusiness Made it as business
over 22 years never stoplearning because you have to
(19:46):
constantly be staying abreast ofthe new changing technologies.
Okay, that's a big one.
Then also, the way that thebuying experience, that digital
commerce trends that's that'shuge to understand.
Because if you just stay up ontechnology and you just have
technology figured out and youcan offer the best and latest
and greatest, you know thefeatures have been a fish.
You can put this stuff in andout, but you don't have a good
(20:08):
experience for for for any usersto buy it.
There's a gap.
And, at the same time, if youhave a great user experience but
you're selling stuff that was,you know, 20 years older or is
no longer supported bymanufacturers.
That's a gap.
So there's a good balance there.
This is what you can or not isreally recognizing to be true.
You have to have a good balanceof product knowledge and just
(20:32):
data on how the products work inthe marketplace, as well as a
high, high level Understandinghow to make a good user
experience online.
When you marry those twotogether, some powerful things
begin to happen, really powerfulthings.
So I know there's a big shifttowards online self-service and
(20:53):
industrial procurement andDistributors.
You know we need to recognizethat this is not just a passing
trend, but this is a fundamentaltransformation in how business
is done.
That's it an eco.
We're championing theseinitiatives.
We're not just responding bychanging the landscape, but
we're actually really shapingthe future by putting systems,
(21:15):
by making Certain decisions toput in place to give you the
best experience possible,because this is redefining the
customer expectation.
It just is, and that's okay.
It's changing the way that webuy stuff.
The procurement process isshifted, but the ability to
adapt, to innovate and thenDeliver that exceptional online
(21:38):
experience, that's gonna setLeaders Apart from everyone else
.
This is where we are.
This is where we are strivingto beat eco.
It was every day, day in andday out.
What can we do to deliver abetter experience?
So, as you're listening to this, if you're out there in
industrial manufacturing or amachine builder or OEM or
(22:02):
construction and you're justconstantly feeling frustrated
Because maybe you can't get theanswers you need, when you talk
to your account rep, you'realways looking for the data
sheets.
You can't ever figure thesethings that you that you need
when you need them.
I encourage you to check out ouronline platform.
Take leave you were in the ecoservice area.
Check out our online platform.
There's lots of ways that we'rebuilding, we're enhancing,
(22:24):
we're growing, we're adding tothat platform all the time to
give a good experience.
So you know you can do thisright from your, from yourself,
from from your desktop, whereveryou want to do.
But check out our onlineplatform, go to eco online, get
started.
There'll be some links in theshow notes here as well when you
can connect.
You can get your online accountset up.
It's super easy to get theonline account set up.
(22:46):
We even have videos.
We recently made a bunch ofvideos to show you the process
on how to get that set up.
So we'll put some links in theshow notes to that as well,
because we will make thisextremely easy for you to get
set up, to get started and tomove forward, because it eco is
what's what's all about againpeople and ideas over products.
But we need to understand thatthe ideas that we're having to
(23:06):
help you With your journey,making better decisions in the
field that's important, that iscrucial, that is critical.
We recognize that to be trueand we don't want to let you
down.
So if you haven't takenadvantage of that yet or if you
have questions on that, justplease reach out.
We're here we were so.
We're here to support, we'rehere to encourage, we're here to
enable, we're here to help youunderstand how these work.
(23:29):
So the different companies canhave different roles within our
digital e-commerce platform andyou have to be able to Really
get in and understand that some.
Hey, just reach out.
This is what we're all about.
So we'd love to get somefeedback from you out there.
If you're enjoying the newformat eco s?
Y well, it just be an honor tohear from you.
First and foremost, it justthank you for listening.
(23:49):
If you know people that are inindustrial procurement, maybe
you know people who are inengineering or design or E&I,
whatever they may be and theyneed help getting product from
their distributors and they'refeeling frustrated.
Encourage you, share, sharethis episode, because they may
not have thought about someideas like this.
Because, no matter whatdistributor you find yourself
(24:10):
working with because this is,there's all sorts of not just
electrical shippers, piping andplumbing and all these types of
distributors out there we allall have to recognize that this
experience, this B2C expectation, is here.
So we need to be buildinginfrastructure.
So I encourage you, asdistributors you're working with
, how are you working ininvesting for the future, for
(24:33):
your online platform, for youronline Self-service presence?
This is a big one, because I'mtelling you, when things go down
and they usually don't happenbetween Regular business hours
right, you need to have abilityto access that data accurately,
securely and with confidence.
That's we're offering.
(24:53):
That's we're encouraging you tocheck out.
So, again, if you havequestions on this, reach out.
Love to know your feet nearyour feedback on eco S, why you
could give us a rating andreview.
That'd be awesome.
Check out the show notes.
We'll have some links in theshow notes, particularly how to
get started with your onlineaccount.
All the videos I mentioned sofar is how do you get that to
work through, to get that set up, we'll have links there as well
(25:14):
to one of the main Pages thatgives you all that information.
Okay, so you have all that datathere.
Make it super easy.
You can always reach out to us.
There'll also be an emailaccount listed inside the show
notes as well.
Feel free to jump on and sendus an email.
You can always connect with ecoon LinkedIn.
We have a pretty big LinkedInpresence.
We always send out a newsletteronce a month.
(25:35):
We have lots of ways we try toserve people there.
We have a YouTube channel andthen eco onlinecom is the best
way to get started with us, toconnect with this, to ask
Questions, to see all the waysthat we're serving people.
The website is awesome.
We've changed a lot of thingslots of redesigns, lots of focus
on making this a user-friendlysite.
Blogs and articles andresources it's all there
(25:58):
Generally.
It's all there, including eco.
That's why that's what it's allabout, okay.
So thank you guys so much.
I really appreciate you guysjust taking time to listen.
Again, if you could share thisout with others, that would be
wonderful.
If you give us some feedback, arating and review, that'd be
great.
And you know what?
Just thank you again for thetime that you spent with us
today and remember to keepasking why?
(26:19):
Thank you for listening to ecos, why this show is supported
ad-free by electrical equipmentcompany.
Eco is redefining theexpectations of an electrical
distributor by placing peopleand ideas before products.
Please subscribe and share withyour colleagues and friends.
Also leave comments, feedback,any new topics that you would
(26:41):
like to hear.
To learn more or to share yourinsights, visit Eco s why that's
eeco, asks android z.
Like lusty hermit sus me.
Welcome to ECO Ask why, a podcast that dives into
industrial manufacturing topicsand spotlights the heroes to
keep America running.
I'm your host, chris Granger,and on this podcast, we do not
cover the latest features andbenefits on products that come
to market.
Instead, we focus on advice andinsight from the top minds of
industry, because people andideas will be how America
(00:24):
remains number one inmanufacturing in the world.
Welcome to ECO Ask why.
I'm your host, chris Granger,and looking forward to hanging
out with you today.
We're going to dig into a funtopic and it's just been really
interesting and cool to work onthese new episodes with a new
focus.
We started off talking aboutinstall base evaluations and the
(00:46):
power of those, and what doesthat look like.
Then we talked about systemdesign and how you can actually
master the different conceptsregarding system design to make
sure you have the system thatworks for you.
That's what matters, right thesystem that works for you.
Then we started dropping a plow.
We got into some things likesmart motor protection.
Then we started looking intoIIOT solutions, because we know
(01:10):
that that's going to impact andthe way it's impacting the
industrial plant floor right nowis a big deal.
Then we looked at how we can beproactive with power monitoring
.
That was just a funconversation around how that
power monitoring can really playinto the to affect, no matter
what your plan is.
Then our last episode we talkedabout managed versus unmanaged
(01:32):
network switches.
We were really dropping theplow again and going deep in
some technical areas.
Now for this episode, we'regoing to make a little bit of a
shift and we're going to talkabout things that is impacting
every single person, no matterwhere you're located,
particularly in industrialmanufacturing OEMs, contractors
(01:53):
and it's how you engage withyour distributors with an online
presence, because the way youbuy now has really shifted.
We're going to be talking abouthow we're empowering buyers in
this whole digital age.
From an industrial distributionstandpoint, you may wonder why
do I need to listen to this?
Because you're working withdistributors and knowing what
(02:15):
distributors like ElectroquinaCompany were doing to serve the
end user.
It's so critical because thislandscape of procurement and the
way that the buying decisionsare made it's really shifting,
particularly with the digitaltransformation, because it's
reshaping a lot of the paradigmsthat have been existing for a
long time in regards oftraditional customer service and
(02:38):
the way that transactions areheld.
So our team, the group at ECO,we're embracing this.
We've embraced it full-on andwe're offering innovative
solutions for self-help serviceplatforms and we're really
trying to push the boundarybetween the B2B spaces.
Traditionally we're in B2B, butwe want to create more of a B2C
(02:59):
experience because we knowthat's important, because being
able to be a digitally fluentand accessible for our customers
and for you out there listeningto ECO, that's why that's
important.
So we're going to be talkingabout the transformative shift
towards that digitalself-service and this
conversation today, the waywe're going to be working
through.
And if you go back to episode244 of ECO-SY, I pulled a lot of
(03:24):
the things that I learned fromworking with Kurt Anderson on
that episode, because he talkedabout, from an e-commerce
standpoint, lots of ideasregarding how those shifting
seeds of procurement e-commerceare really are here.
So much has changed and we haveto have a strategy and approach
(03:47):
.
If you're a distributor and youwant to serve your end users,
people at manufacturing, yourlisteners of ECO-SY, you have to
be able to do this.
It's really good to see, kindof like behind the curtain, what
distributors are doing to serve.
So let's just talk about this.
What's the genesis of thatdigital transformation for
industrial distributors, becausein the industrial distribution
(04:09):
sector it was historically hasjust relied on brick and mortar.
Where do you have the operationat?
Where do you have adistribution warehouse at, and
can you service these areas?
Can you handle thesetransactions?
And we see this shift now towhere it's more online
self-service, because there's afundamental change in buyer
behavior.
(04:29):
It just is.
We all have differentexpectations.
Think about how you buy rightnow with your personal shopping
experience.
How you buy on Amazon, how yousearch for stuff on Google, all
the different ways that you wantto find information.
You're now expecting that, thatresearch, that comparison, that
purchasing ability with fromyour distributors.
(04:51):
So the distributors now have tohave an infrastructure, a
digital infrastructure, to beable to facilitate this.
And this is where the team atEECA we're really trying to hit
this head on and embracing thisand not trying to hold it off.
It's not like I want to holdthis office long as I can.
We want to embrace this.
So we want to say, okay, howcan we create some online
(05:13):
resources, a self-servicemindset to help the buying
experience?
And how do we do this?
We start by prioritizingreal-time access to pricing and
availability.
That has to be crucial.
We have to be able to give youextensive product information.
We have to give you the abilityto manage your account online,
(05:34):
and we have to do this with anextremely high standard, an
extremely high standard fordistributors, because we're
making a commitment, acommitment to digital innovation
, and that requires aninvestment.
It just does.
And we want to make thiscommitment to ultimately a
frictionless buying journeyFrictionless, like you don't
(05:56):
want to have any friction.
If you're looking for something, you can't find it, you're
going to go somewhere else.
So we recognize there's reallythree pillars, three pillars
that we need to do.
That we focused on to give youthe ultimate capability to
self-serve.
And number one I've alreadymentioned it is that real-time
access to pricing andavailability, because one of the
(06:17):
biggest drivers for digitaltransformation and this
industrial procurement spacethat we're talking about is the
need, when you need a price onsomething and you need to know
if it's available, you need it.
That's it you got to haveimmediately.
It needs to be immediate andit's got to be accurate, and you
really need to have thatexpectation with whoever you're
(06:38):
working with, to get up to theminute information at your
fingertips, because this is acapability that's going to
empower you to make betterdecisions.
That's it.
You don't have to wait on fordelays, for anything that's
happening offline.
No, you'll be able to make thatdecision in a moment.
So, for Eco, what we're doing,we're offering real-time data,
(06:59):
but it's just a criticalcomponent and this is a part of
our value proposition wherewe're really leaning into.
So we have to.
How do you do that?
Well, you integratesophisticated e-commerce
platforms.
This is what we've been workingon.
We have our inventory, we haveour pricing.
We have all the informationthat you need, because when you
need that information, thatinsight, that product, that
(07:20):
pricing, that availability jeezLouise, I can't say that word
you need it when you need it,and it's got to be accurate and
it needs to be a high-leveltransparency.
If you have that transparencybetween a distributor and a
customer, you have a lot oftrust.
That's it, and you becomereliable, and distributors want
to be reliable, because you needto be able to plan and execute
(07:42):
your procurement strategy withconfidence.
And also, this gives youability.
If you have this real-timeaccess to pricing and
availability, you're going tohave dynamic pricing strategies.
So, as a distributor, we canwork things in your advantage as
a customer, based on marketconditions, special pricing
(08:03):
agreements, things that you workout.
We work out with manufacturerson your behalf.
We'll be able to do that.
So inventory levels, customerdemand, all these types of
things can be adjusted becausethis it provides flexibility, it
makes us be more competitiveand it gives you more
personalized approach forpricing and other areas.
(08:23):
So we know that's a big, bigdeal for meeting your needs.
Now, the second big pillar thatwe see for embracing this online
commerce is the comprehensiveproduct information, because we
know without a shadow of a doubtthat you need detailed product
(08:43):
information all the time,particularly when you're trying
to scope out things.
If you're trying to, if you'rein an industrial procurement and
you're faced with some complexbuying decisions, you need to
have product data, you need cutsheets, you need technical specs
, you need to performance data,you need some case studies.
This level of data is essential, absolutely essential, when
(09:09):
you're trying to access theright products, when you're
thinking about compatibility,when you're thinking about
compliance.
You got to have that.
So we recognize need.
Okay, this research component isa crucial level of what you
have to have for a digitalexperience.
So you have to have a digitalplatform that can do that, that
(09:29):
can give you that what we callenriched product, offering the
content that you need thecomprehensive descriptions, the
data sheets, the tech sheets,the manuals, the stuff that you
absolutely need to make ithappen so you can make that
purchase with confidence,because we know you don't want
to make a purchase and then oh,I hope that's right.
(09:50):
No, you want to make it withconfidence.
We also know you don't have todeal with a return or an
exchange because you bought thewrong thing.
So, to head that off at thepass, we have to give you better
data up front.
That's what it's in.
That's what it's all about,because, just an additional to
just the basic things we'vetalked about so far, we're
(10:12):
giving you all the resourceslike tutorials, videos on how to
use this stuff, 3d models, attimes, interactive tools to make
sure you can pick the right andselect the right product.
All this stuff is part of anonline platform that's built to
enhance your experience.
You see what I'm saying.
(10:32):
This stuff creates a moreimmersive and engaging
experience.
It gives you an ability to havea deeper understanding of what
you're using and how they canapply it in different scenarios,
different parts of the productline or different parts of the
manufacturing process.
But you need to know thesethings.
Now.
The third big pillar that werecognize to be true is this B2C
(10:56):
account experience.
Now, when I say B2C, that'sbusiness to consumer, because
when you think of B2B, that'sbusiness to business, that's
very professional.
Definitely it has thatdifferent feel, but a B2C that's
what we experience every day.
When you pull your phone outand you're shopping on Amazon or
you're checking your thing outon different shopping apps and
(11:19):
things on your smartphone,that's a B2C experience.
This is real because werecognize that as a distributor,
you need to be able to havethis same type of experience for
your customers because we'veall grown accustomed to it.
We just have this convenience,this personalization.
This self-service capability isreal.
So they've raised the bar theyreally have For B2B transaction.
(11:45):
It's got to look very similarto a B2C experience because that
buyer you're seeking those samelevels of service and
functionality just from aprofessional workplace.
Now it's hit the floor.
So distributors have had toreally shift and think about
their online platforms to bemore intuitive.
(12:07):
They just have to.
They need to be user-friendlyfor one.
They have to really have somegood features.
This is going to give theability so you can start doing
stuff like tracking orders.
Simple stuff here.
Simple stuff Tracking orders,viewing your purchasing history
how about that?
Manager billing, looking foryour shipping information,
(12:29):
access to your product resourcesand recommendations.
All this stuff has to beavailable for account management
experience.
Now we've leaned in at ecobecause we're enabling all of
our users, all of our customers,to be able to have this.
If you do this, if you do itcorrectly, what you'll do, what
you'll find is you've got agreater opportunity for loyalty
(12:54):
and relationships.
We're in a people business.
Again.
People are not ideas overproducts.
You create the relationshipsand the trust to have this
experience.
What we also are able to do, wecan give you features like
customized dashboards.
Think about this If you want tosee your order workflow or have
(13:16):
a high level view of what youraccounts doing, performance,
things like that, what you'rewaiting on, you want an easy
place where you can go check allthis out.
You've got to have this in.
This is what a dashboard doesfor you.
How about a budget trackingtools to give you some insight
to how things are going?
All these things are part of aB2C experience that distributors
(13:38):
leading end distributors likeEco are leaning into to put that
cost, to put thatinfrastructure rather in place
and it costs, it takes money.
This is an investment thatdistributors are recognizing
they need because they need tocater to the complex needs of
your business.
We have to be more efficient inthe procurement process to
(14:01):
create more alignment with yourprocurement teams, thank you.
With your policies, with yourprocedures, see, all this stuff
ties together.
So now let's think about thisfor a second.
I mentioned Kurt Anderson.
He had some really goodinsights about the importance of
a digital self-service andmeeting your needs.
(14:22):
And that term, digitalself-service I love how Kurt
explains it.
It's encapsulating the growingpreferences among buyers for a
digital experience that allowsyou to independently access
information to make purchases.
That's right and this issupported by some pretty big
(14:43):
sources of data over the years.
Because we recognize, to betrue, that many buyers out there
they just prefer that digitalinteraction over that
traditional sales engagements.
They just do Not to say thatthat traditional sales
engagement is gone.
It's not.
They're still a need for that.
But you have to have theability to provide you with that
(15:04):
buyer that if you'reresearching data at two in the
morning, you need to be able toaccess that data at two in the
morning, the data that you needto make the decision.
Now, if you still need to talkto a sales rep, absolutely we
have to have an infrastructure,and Eco does.
We have some of the best insideand outside sales
representatives out there in anelectrical distribution, but you
(15:26):
have to be able to service themwhen you need this data, no
matter what, and that's whatthis is about.
So I want to kind of just walkthrough here a couple of things
with you around a few strategicimperatives that distributors
like Eco have really had toembrace for this digital shift
moving forward, and the firstone is investment.
(15:48):
We've had to make investmentbecause if you want to develop a
scalable, secure let's makesure we focus on that and
user-friendly e-commercesolution, it's going to take an
investment and I can tell youfirsthand that, working with the
e-commerce team here at Eco,marketing all the different
things that have seen sales, theinvestment in an e-commerce
(16:10):
platform is real and it'sserious, because we recognize,
to be true, that this is wherethe business of the future is
going.
If you don't have these systemsin place to facilitate
transactions at a seamless rate,at a user rate that just
creates a good experience,you're going to miss out.
(16:31):
So you've had to make thatinvestment.
We've also recognized we needto enhance the digital content,
because we've got to give youmore than just a cut sheet.
We need to give you productinformation with specs, guides,
comparison tools, some differentways so you can see how the
products work, how can they fitfor your application, to give
(16:55):
you more information, to makethat purchase with confidence.
We don't want you figuring thisstuff out on the fly.
No, we want you to be movingwith confidence.
We also recognize that we needto have a personalization and
customer engagement is bigBecause if we can have some data
analytics to give yourecommendations hey, thanks, all
(17:16):
of a sudden start changing andif we can start showing you some
services that will help youalong the way, you're just going
to build that trust.
But you do all that through theuse of data.
And you use data when you haveit in a system, in a structure,
in an overall, organized in sucha way that you can make better
(17:39):
decisions.
Because if it's all manual,it's all trapped up here in the
minds of certain, just one ortwo individuals.
There could be gaps, but if youput it in a system where you
can say, ok, this person,they're using these different
types of devices.
It makes sense that we shouldprobably go talk to them about
these associate devices overhere, because they really marry
(18:02):
well together and they may notbe aware of them.
So there comes thatpersonalization.
That's what it's about.
Now we also need to be able toadapt to new behaviors because
we need to recognize that shifttowards digital procurement and
self-service online.
We need to make sure, as adistributor, that we can align
(18:22):
our services to meet thoseexpectations.
So you need to make sure thatyou're not only just building a
system that looks good, but ithas to be functional to the
point that the users that areusing it find value.
If Amazon was just a prettywebsite with lots of pictures
(18:43):
and some good content, but thebuying experiences was a
dumpster fire, nobody would goto Amazon.
But because the buyingexperience is seamless, because
it makes sense, because they say, hey, because you've got this,
customers also put these otheritems together.
How many people besides me havejust you followed that trail?
Because you recognize, hey,wait a minute, that makes I do
(19:05):
need that item, one of those twoitems, those three items to go
with that.
So that type of experience iswhat sets them apart.
They definitely are thestandard and distributors were
working towards that level ofdetail.
It's really neat.
You have to adapt to the buyingbehaviors and, as a distributor,
as you're thinking through thisstuff and the content and the
(19:25):
stuff that you need to create tobe able to do this, it's really
just.
It's fun at times to be able tosay, okay, this is how the
journey should look.
And At least my final point,the continuous innovation,
continuous innovation andlearning.
You never stop learning in thisbusiness Made it as business
over 22 years never stoplearning because you have to
(19:46):
constantly be staying abreast ofthe new changing technologies.
Okay, that's a big one.
Then also, the way that thebuying experience, that digital
commerce trends that's that'shuge to understand.
Because if you just stay up ontechnology and you just have
technology figured out and youcan offer the best and latest
and greatest, you know thefeatures have been a fish.
You can put this stuff in andout, but you don't have a good
(20:08):
experience for for for any usersto buy it.
There's a gap.
And, at the same time, if youhave a great user experience but
you're selling stuff that was,you know, 20 years older or is
no longer supported bymanufacturers.
That's a gap.
So there's a good balance there.
This is what you can or not isreally recognizing to be true.
You have to have a good balanceof product knowledge and just
(20:32):
data on how the products work inthe marketplace, as well as a
high, high level Understandinghow to make a good user
experience online.
When you marry those twotogether, some powerful things
begin to happen, really powerfulthings.
So I know there's a big shifttowards online self-service and
(20:53):
industrial procurement andDistributors.
You know we need to recognizethat this is not just a passing
trend, but this is a fundamentaltransformation in how business
is done.
That's it an eco.
We're championing theseinitiatives.
We're not just responding bychanging the landscape, but
we're actually really shapingthe future by putting systems,
(21:15):
by making Certain decisions toput in place to give you the
best experience possible,because this is redefining the
customer expectation.
It just is, and that's okay.
It's changing the way that webuy stuff.
The procurement process isshifted, but the ability to
adapt, to innovate and thenDeliver that exceptional online
(21:38):
experience, that's gonna setLeaders Apart from everyone else
.
This is where we are.
This is where we are strivingto beat eco.
It was every day, day in andday out.
What can we do to deliver abetter experience?
So, as you're listening to this, if you're out there in
industrial manufacturing or amachine builder or OEM or
(22:02):
construction and you're justconstantly feeling frustrated
Because maybe you can't get theanswers you need, when you talk
to your account rep, you'realways looking for the data
sheets.
You can't ever figure thesethings that you that you need
when you need them.
I encourage you to check out ouronline platform.
Take leave you were in the ecoservice area.
Check out our online platform.
There's lots of ways that we'rebuilding, we're enhancing,
(22:24):
we're growing, we're adding tothat platform all the time to
give a good experience.
So you know you can do thisright from your, from yourself,
from from your desktop, whereveryou want to do.
But check out our onlineplatform, go to eco online, get
started.
There'll be some links in theshow notes here as well when you
can connect.
You can get your online accountset up.
It's super easy to get theonline account set up.
(22:46):
We even have videos.
We recently made a bunch ofvideos to show you the process
on how to get that set up.
So we'll put some links in theshow notes to that as well,
because we will make thisextremely easy for you to get
set up, to get started and tomove forward, because it eco is
what's what's all about againpeople and ideas over products.
But we need to understand thatthe ideas that we're having to
(23:06):
help you With your journey,making better decisions in the
field that's important, that iscrucial, that is critical.
We recognize that to be trueand we don't want to let you
down.
So if you haven't takenadvantage of that yet or if you
have questions on that, justplease reach out.
We're here we were so.
We're here to support, we'rehere to encourage, we're here to
enable, we're here to help youunderstand how these work.
(23:29):
So the different companies canhave different roles within our
digital e-commerce platform andyou have to be able to Really
get in and understand that some.
Hey, just reach out.
This is what we're all about.
So we'd love to get somefeedback from you out there.
If you're enjoying the newformat eco s?
Y well, it just be an honor tohear from you.
First and foremost, it justthank you for listening.
(23:49):
If you know people that are inindustrial procurement, maybe
you know people who are inengineering or design or E&I,
whatever they may be and theyneed help getting product from
their distributors and they'refeeling frustrated.
Encourage you, share, sharethis episode, because they may
not have thought about someideas like this.
Because, no matter whatdistributor you find yourself
(24:10):
working with because this is,there's all sorts of not just
electrical shippers, piping andplumbing and all these types of
distributors out there we allall have to recognize that this
experience, this B2C expectation, is here.
So we need to be buildinginfrastructure.
So I encourage you, asdistributors you're working with
, how are you working ininvesting for the future, for
(24:33):
your online platform, for youronline Self-service presence?
This is a big one, because I'mtelling you, when things go down
and they usually don't happenbetween Regular business hours
right, you need to have abilityto access that data accurately,
securely and with confidence.
That's we're offering.
(24:53):
That's we're encouraging you tocheck out.
So, again, if you havequestions on this, reach out.
Love to know your feet nearyour feedback on eco S, why you
could give us a rating andreview.
That'd be awesome.
Check out the show notes.
We'll have some links in theshow notes, particularly how to
get started with your onlineaccount.
All the videos I mentioned sofar is how do you get that to
work through, to get that set up, we'll have links there as well
(25:14):
to one of the main Pages thatgives you all that information.
Okay, so you have all that datathere.
Make it super easy.
You can always reach out to us.
There'll also be an emailaccount listed inside the show
notes as well.
Feel free to jump on and sendus an email.
You can always connect with ecoon LinkedIn.
We have a pretty big LinkedInpresence.
We always send out a newsletteronce a month.
(25:35):
We have lots of ways we try toserve people there.
We have a YouTube channel andthen eco onlinecom is the best
way to get started with us, toconnect with this, to ask
Questions, to see all the waysthat we're serving people.
The website is awesome.
We've changed a lot of thingslots of redesigns, lots of focus
on making this a user-friendlysite.
Blogs and articles andresources it's all there
(25:58):
Generally.
It's all there, including eco.
That's why that's what it's allabout, okay.
So thank you guys so much.
I really appreciate you guysjust taking time to listen.
Again, if you could share thisout with others, that would be
wonderful.
If you give us some feedback, arating and review, that'd be
great.
And you know what?
Just thank you again for thetime that you spent with us
today and remember to keepasking why?
(26:19):
Thank you for listening to ecos, why this show is supported
ad-free by electrical equipmentcompany.
Eco is redefining theexpectations of an electrical
distributor by placing peopleand ideas before products.
Please subscribe and share withyour colleagues and friends.
Also leave comments, feedback,any new topics that you would
(26:41):
like to hear.
To learn more or to share yourinsights, visit Eco s why that's
eeco, asks android z.
Like lusty hermit sus me.
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Therapy Gecko
An unlicensed lizard psychologist travels the universe talking to strangers about absolutely nothing. TO CALL THE GECKO: follow me on https://www.twitch.tv/lyleforever to get a notification for when I am taking calls. I am usually live Mondays, Wednesdays, and Fridays but lately a lot of other times too. I am a gecko.