Presentation Metrics for Vendors #6

Welcome to our series, OMG : One Metric for Growth where we dive deep into real-life example of how one metric helped an organization to grow their business. Today's Metric for Growth is :

“Presentation Metrics for Vendors” 📈

Why presenting the meaningful metrics to Vendors helps?📊 Often in B2B relationships, discussions between customers and vendors occur without supporting data. By introducing right metrics, the discussion with the vendors become more growth oriented rather than just price and quantity negotiations. It brings everyone on the same page and sustainable growth with long-term relationships can be achieved.

‍About Rhino Automobiles, Guwahati!  

Rhino Automobiles, is into business from last 17 Years. They are a comprehensive hub for Automobiles. Earlier their focus was more on retail business but now in the pursuit of expanding their, they are increasing their presence in north-eastern cities and towns by adding more resellers and retailers to their distribution network.

How Rhino presented their data to Vendors?

Mr. Amit Jain, the owner, realized that the elements required to present in a meaningful and convincing way they need:

1. Number of customers covered for every product.

2. Number of pincodes covered in the distribution area.

3. Average billing per customer with frequency of billing.

4. Number of SKUs covered in each area and each month.

5. Number of new customers acquired in each month.

With this kind of data, they were able to show the width and depth of their distribution. As the vendors are not used to seeing such organised and meaningful data with most channel partners, they were impressed and offered them more areas for distribution. Also, they planned together to understand the scope of penetration.  

This data-driven approach helped them to showcase their organised approach and build better relationships with their vendors. Not only from vendor perspective, but from team perspective also, they now have better clarity regarding defining and measuring the metrics for every team member.

Using the right tool and investing in technology helped them to get ahead from the competition and now they have an extra edge. Based on the insights from their data, the vendors were also able to introduce more and better products and this in turn helped everyone to grow their business.

‍Whenever You are Ready! 🔑  

‍ "Your metrics don't just reflect the past; they lead the future."

At Magenta, we specialize in turning these metrics into actionable steps.

Our Business Intelligence software seamlessly integrates with ERPs like Tally, Busy, SAP, and can offer you real-time insights about the width and depth of your distribution and related key metrics around it for your business. If you haven't already signed up for Magenta Insights, now is the time!  

Stay tuned for next week's edition of "One Metric for Growth" as we delve into another crucial aspect of business. Until then, seize the opportunities that lie within your data!