This issue finds editor Erica Schulz-Schueller on maternity leave enjoying time with her new son, Everett. So, I am taking the opportunity to thank you for participating in our research over the years. Your feedback is intriguing and telling, but more importantly, helpful in developing what is reported.
Here are results that have been consistent over the years.
Your best-selling categories of tools are cordless power tools, hand tools and diagnostic tools and equipment. This is not surprising, as the Professional Tool & Equipment News (PTEN) reader research lists these three as categories your customers plan to purchase more of as well. Throw in specialty tools and you have the hot areas for PTEN.
The question: What is the single most important factor in making a tool sale? Your answers, in this order: Quality (44 percent), Availability (17 percent) and Price (16 percent). Agree?
Again, the question: What do you see as your greatest competitive threat? By far, the answer is Internet tool websites. This response came from 60 percent of you, with other distributors being a distant second at 22 percent.
I will close with this last bit of information, but this, perhaps, is the most important subject. What issues keep you up at night?
Collections was the No. 1 answer. No surprise, as you need to collect the cash to keep the business afloat. It is after this where the response becomes interesting.
The second response was having the right inventory on the truck to maximize sales. This is a challenge, as you really need to have your pulse on your local market to track the types of repairs your customers see most often.
Over time, response No. 3, having the product knowledge to keep up with the complexity of tools and equipment, has been growing in importance. Vehicles are more complex and so are many of the tools. How do you sell them?
And, the No. 4 response was becoming a more effective salesperson. If I were in your shoes, I would invest in an annual trip to ride along with one of your friends on his or her route for a few days. Watching someone else in action does wonders for learning effective sales techniques.
That’s it. Erica should be back next issue.
