Market Redistribution: Getting on the Right Side
Market share is being redistributed—a fact that’s clearly brought out by sales distribution data among NAPL State of the Industry participants. While sales are still below 2007 levels for the vast majority of companies (71.8%) in the group, almost three out of ten companies in the group have seen their sales surpass pre-Great Recession levels. And as the table below also shows, results vary widely. Almost 13.0% of the companies recorded increases of more than 20.0% for the period, and almost one-third recorded declines of at least 20.0%. While market redistribution is not a new development, how to get on the right side of the redistribution has changed significantly. Getting better at what we’ve always done is not enough anymore—a fact that’s only going to intensify.
Sustained success is going to entail bringing new mindsets and approaches to our business. And it’s also going to require us to constantly challenge our success and to never assume that we have it all figured out. Here’s a fact we need to embrace: fact There’s plenty of opportunity in our industry, just not in the same old places or by doing the same old things.
Getting on the right side of redistribution is also going to require confidence, clarity, and a willingness to take risk.
• Confidence: An understanding what our best clients value most and how we can be of even greater value to them.
• Clarity: Effectively communicating company vision, strategy, and direction with employees.
• Willingness to take risk: Defining and managing risk by having knowledge of what best clients need and knowing we can deliver.
We’ll be discussing how companies are attaining these attributes and getting on the right side of market redistribution in the NAPL State of the Industry Report to be released this September and unveiled at PRINT 13 in the KBA booth.
Andy Paparozzi Joe Vincenzino