Katrina Olson

Strategic Communications

Market Boldly 014 – Digital Transformation with Michael Evanko of Fromm Electric Supply, Part 2

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Market Boldly
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Market Boldly 014 - Digital Transformation with Michael Evanko of Fromm Electric Supply, Part 2
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Join me with guest Michael Evanko, VP of Reading, Pennsylvania-based Fromm Electric Supply in this second installment of this discussion about the digital transformation in electrical distribution. If you’re still figuring out how to get started, tune in to learn:

  • What to think about when adopting a new technology like CRM
  • Why marketing must take a strategic leadership role in the digital transformation
  • What to consider when deciding between outsourcing or adding marketing staff
  • How (or if) one person can manage a distributor’s entire marketing function
  • Why you can never stop learning

Michael discusses his experience and offers suggestions for those just beginning their digital journey. It’s not as difficult as you think if you have the right approach and the right people on your team.

Market Boldly 012 – Amazon, Product Launches, and Building Loyalty with Mower’s John Favalo

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Market Boldly
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Market Boldly 012 - Amazon, Product Launches, and Building Loyalty with Mower's John Favalo
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Join me with guest John Favalo vice president of Mower and leader of its B2B practice. Mower is one of America’s largest privately held full-service marketing, advertising, PR, and strategic consulting agencies with nine locations throughout New York, and in Atlanta, Boston, Charlotte, and Cincinnati.

A former agency owner, B2B veteran, and award-winning marketer, John shares some of Mower’s guiding principles for competing in today’s highly competitive, fast moving and rapidly changing world of distribution and manufacturing.

In this 45-minute podcast, you’ll learn:

• How distributors can avoid be swept away by the Amazon tsunami: https://www.mower.com/insights/can-your-brand-survive-the-amazon-tsunami/
• The 3 qualities of Mower’s transformation Brand as Friend (BAF) philosophy (based on behavioral science research)
• How to manipulate and leverage the 3 drivers for each of those qualities to create a competitive advantage
• The answer to the question, “Does the human element still matter?”
• How to structure a “progressive product launch”
• The 6 dirty words of product launches and how to avoid them
• What John thinks about awards programs, contests, and product endorsements.
• How and why to build customer loyalty in a price-sensitive environment.
• John’s advice to marketers: “You can never know enough about ____________.”

To learn more about the topics we discussed, download these free resources:
• Can your brand survive the Amazon tsunami? – AmazonChallenge_1102
• New Product Launch Think List – NewProductLaunchThinkListV2

Market Boldly 011 – What about your business is uncopyable?

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Market Boldly
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Market Boldly 011 - What about your business is uncopyable?
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Join me with Steve Miller, marketing consultant and author of the 2017 Amazon #1 Best Seller Uncopyable: How To Create An Unfair Advantage Over Your Competition. Steve has consulted with clients ranging from entrepreneurs to Fortune 100 companies including Proctor and Gamble, Caterpillar, Starbucks and Coca- Cola in addition to several large, North American exhibitions. He has been featured in Fast Company, Business Week, Fortune, the Wall Street Journal, and The Washington Post.

In this episode of Market Boldly, Steve and I discuss:

• the 3 traps most companies fall into when trying to find their competitive advantage
• why “partnership” doesn’t work anymore
• what distributors can learn from the Broadway show, Hamilton
• what revered total quality management consultant Steve hung out with when he was a kid
• what then-high-tech device Steve’s dad invented
• the difference between intrinsic and extrinsic benchmarking
• what fourth element a business needs to succeed in addition to quality products, excellent customer service and a decent price
• what it truly means to be uncopyable and 3 strategies for creating an uncopyable attachment to customers

And if you stay tuned until the end, Steve offers you an ethical bribe to buy his book, Uncopyable. It’s a bonus worth $197 — in addition to all the great stuff you’ll learn from this podcast and in his best-selling book.

Market Boldly 010 – What’s it really like to work in marketing for an electrical distributor?

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Market Boldly
Market Boldly
Market Boldly 010 - What's it really like to work in marketing for an electrical distributor?
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In Part 2 of this discussion with April Braun, Director of Marketing for Werner Electric of Cottage Grove, Minnesota and Scott Lepsky Marketing Manager for the F.D. Lawrence Electric Company of Cincinnati, Ohio, we talk about more hands-on issues like:

  • how marketing builds value and supports the sales effort
  • the importance of goal setting and strategy
  • what projects April and Scott are working on
  • how to use technology in your marketing
  • why it’s important to spend “quality time” with your customers
  • why you should consider hiring marketing staff from outside the industry
  • what the role is of organizations like NAED, IMARK and AD
  • what the future holds for distributor marketing
  • why more people should consider a career in electrical distribution
  • how the industry has (and hasn’t) changed in the past 20 years
  • why Scott thinks, “the rising tide lifts all boats”
  • why April is “sharpening her spear” and “putting her stake in the ground”
  • what advice these experts people considering a career in electrical distribution

It’s a lively discussion with two marketing experts — one with a long history in electrical distribution who’s new to marketing, and another with a long marketing history who’s new to electrical distribution — each with a wealth of information and keen insights on distributor marketing. It’s 24.5 minutes of wisdom and humor you won’t want to miss.

Market Boldly 009 – Why electrical distributor marketing matters…especially now. (Is your team ready?)

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Market Boldly
Market Boldly
Market Boldly 009 - Why electrical distributor marketing matters...especially now. (Is your team ready?)
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How will marketers combat Amazon and other new competitors?

What’s it like to work in marketing for electrical distribution?

How has it changed in the last 20 years?

Join me with guests April Braun, Director of Marketing for Werner Electric (MN) and Scott Lepsky, Marketing Manager for the F.D. Lawrence Company (OH) for Part 1 of a two-part podcast: “Why electrical distributor marketing matters…especially now. Is your team ready?” We discuss:

  • The challenges and opportunities of the marketing job
  • Why relationships matter, now more than ever
  • What’s changed over the years…and what hasn’t
  • What industry marketers are good at, and what needs work
  • Why data is critical now and in the future
  • Why distributors have an advantage over Amazon

In the coming months, marketing will be more important than ever as electrical distributors face increasing competition. They need highly skilled marketing teams guided by a strategic plan that’s based on company goals. Learn how two experienced marketers are building their teams and plans for 2018 and beyond.

Subscribe to Market Boldly on iTunes or Google Play.

 

Market Boldly 008 – “Solar is hot in the Midwest & Beyond” with Tim Montague

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Market Boldly 008 - "Solar is hot in the Midwest & Beyond" with Tim Montague
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Solar energy is experiencing a burst of growth in Illinois and throughout the Midwest thanks in part to current state and federal incentives for homeowners, businesses, schools, colleges, local governments, nonprofits, and others who invest in solar photovoltaic (PV) energy systems.

Meet Solar Expert, Tim Montague

Tim Montague, commercial solar developer with Continental Electrical Construction Company of Oakbrook, Illinois, a western suburb of Chicago discusses the benefits and incentives associated with solar energy. Continental started its renewable energy division in 2009 and is one of the largest installers of solar PV (rooftop and ground mount) systems in Illinois. Recent projects include retailers like IKEA and Abt Electronics, a 10-acre solar array at IKEA’s Joliet distribution center, plus several schools and colleges.

Why Solar Makes Sense Now

  • In recent years, the cost of solar technology has dropped significantly. It’s now less than 60 cents per watt; compared to $100 per watt in 1975.
  • Payback periods are the shortest they’ve ever been—only 4 to 6 years, compared to 10 to 15 years just a few years ago.
  • Federal and state legislation are making it possible to get into a solar array for as little as 10 to 15 cents on the dollar.
  • Combining state and federal incentives can fund as much as 80% of a solar PV system.
  • Companies can reduce their power bills by anywhere from 50% to 75%!

Here’s a Breakdown

Following is a breakdown of incentives and rebates for years one through five of a solar project.

Federal ITC (Incentive Tax Credit)                  30%

SRECs (Renewable Energy Credits)                 20%

Smart Inverter Incentive ($250/kW DC)        10%

MACRS Depreciation                                          30%

Electric Bill Savings                                             20%

As a result of all these incentives, the up-front cost to purchase and install a solar PV system can be reduced by as much as 90%!

Incentives Aren’t Forever

Manufacturers, distributors and contractors who want to get into or build their solar businesses need to act while the incentives are still good. Some payouts decrease each year and expire in as few as five years. Listen to the full podcast to learn how to take advantage of these opportunities while solar is hot.

Summary of Available Incentives

  • Illinois Future Energy Jobs Act (FEJA) passed in 2016 and enacted in 2017 funds $200 million of cash incentives in Illinois project owners who get 20% of project value back as a cash incentive. FEJA also provides for rebates for smart inverters for distributed generation projects. (http://www.futureenergyjobsact.com/about)
  • Modified Accelerated Cost Recovery System (MACRS) – Provides for accelerated depreciation for business owners, worth about 30% of project cost. (https://energy.gov/savings/modified-accelerated-cost-recovery-system-macrs)
  • Solar Renewable Energy Credits (SRECs) – This is the Illinois state incentive that gives solar system owners a cash rebate worth 20 to 25% of a solar PV system. (https://energy.gov/savings/solar-renewable-energy-credits-0)
  • Business Energy Investment Tax Credit (ITC) – This Federal tax credit of 30% for businesses and residents is available through 2020 for qualified solar projects, but phases out starting in 2020 down to 10% for businesses and zero for residents. (https://seia.org/initiatives/solar-investment-tax-credit-itc & https://energy.gov/savings/business-energy-investment-tax-credit-itc)

Use the Database of State Incentives for Renewables & Efficiency (DSIRE®) to research the financial incentives available to you.

For More Information

Check out these resources in Illinois, the Midwest and beyond to learn more about opportunities in solar energy.

  • DSIRE® – Database of State Incentives for Renewables & Efficiency – free resource maintained by North Carolina University with information on thousands of policies and incentives for renewable energy and energy efficiency (http://www.dsireusa.org)
  • SEIA – Solar Energy Industries Association – national trade association for the U.S. solar industry (https://www.seia.org)
  • NABCEP – North American Board of Certified Energy Practitioners® – national certification organization for renewable energy professionals (http://www.nabcep.org/)
  • ELPC – Environmental Law & Policy Center – regional environmental organization focused on Midwest policy for clean air, water and transportation (http://elpc.org)
  • IBEW – International Brotherhood of Electrical Workers – union representing employees in the electrical and utilities industries (ibew.org)
  • ISEA – Illinois Solar Energy Association – non-profit organization that promotes solar and other forms of renewable energy through education and advocacy (illinoissolar.org)
  • MREA – Midwest Renewable Energy Association – offers one of the country’s top solar training programs and runs one of the largest grassroots sustainability events in the nation (www.midwestrenew.org)
  • WOW – Wind on the Wires – works to create new opportunities for renewables to participate in the energy marketplace in Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, North and South Dakota, and Wisconsin (https://windonthewires.org)

UPDATE: 30% Tariffs on Imported Solar Panels

The week after we recorded this podcast, the Trump administration imposed a tariff of 30% on imported solar panels. This will impact the $28 billion solar industry, which gets about 80% percent of its solar panel products from imports. The Solar Energy Industries Association (SEIA) predicted the tariffs would increase prices and cost approximately 23,000 US jobs. SEIA represents manufacturers as well as installers, sellers and others in the field.

When asked about the new tariff, Montague responded, “It’s bad news, but not fatal. It might kill 23,000 jobs out of 260,000 so just less than 10% of the industry. We’re fine in Illinois because we have SRECS, but it certainly throws a wet towel on the industry.”

Market Boldly 007 – Ted Simpson, VP Marketing, Electrical Division, AD on trends, technology and teams

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Market Boldly 007 – Ted Simpson, VP Marketing, Electrical Division, AD on trends, technology and teams
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Join me with my guest, Ted Simpson, Vice President of Marketing for the Electrical Division of AD or Affiliated Distributors as we discuss trends, technology and teams in marketing for electrical distributors and manufacturers. With 580 members across seven different industries, AD is North America’s largest marketing/buying group for construction and industrial supplies.

I met Ted at AD’s 2017 Electrical North American Meeting in Dallas after AD Marketing Manager Peggy Penjuke asked me to kick off their marketing network session. Ted has been with AD for about two-and-a-half years. Prior to that, he Head of Marketing for the North American Division of Phillips lighting, where he worked for nearly 16 years.

Listen in as we discuss:

  • The mission and benefits of AD on behalf of its members
  • How AD is embracing technology to generate leads and drive business to their members
  • Who should be included in your marketing dream team
  • The importance of marketing groups to distributors
  • How to get up to speed on new platforms and technologies

As marketers, we’re always learning how to use data and technology to benefit our customers and grow our businesses. If you’d like to see a specific topic discussed on Market Boldly, email me at katrina@katrinaolson.com and I’ll put it on the editorial calendar!

 

Market Boldly 006 – Rich Ryan, RGR Services on trade advertising and trade shows

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Market Boldly
Market Boldly
Market Boldly 006 - Rich Ryan, RGR Services on trade advertising and trade shows
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Join me with guest Rich Ryan of RGR Services, an independent sales firm specializing in trade show exhibit sales and exhibit floor management for B2B and B2C events. Rich handles advertising sales for B2B publications tED Magazine, the trade publication of NAED, and Independent Electrical Contractors’ trade magazine. In this episode, you’ll learn:

  • Tips for getting attention and making the best use of your ad space
  • Strategies for getting the most out of trade shows
  • What makes an award-winning ad
  • What annoys Rich and Katrina’s about some ads
  • How to get the best work out of the creative team
  • What creatives can do to get better results
  • Why you need to really know your audience
  • How research can help you improve your ads

Includes shout outs to: Topaz Lighting, Cooper Electric, Ideal Industries, Bridgeport Fittings, Patriot Aluminum, Shat-R-Shield, Hank Bergson, Patriot Aluminum and Sandusky Painting.

Subscribe to Market Boldly on iTunes or Google Play Music. Please share this podcast with your friends and associates in manufacturing and distribution.

 

Market Boldly 005 – Don Torrant on The (Near) Future of Distributor Marketing

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Market Boldly 005 – Don Torrant on The (Near) Future of Distributor Marketing
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Join me as I talk with Don Torrant, Director of Market Development and Channel Strategy for Legrand North and Central America about how societal trends, the internet, technology, design trends, the hospitality industry and the influence of millennials are changing electrical product and distributor sales and marketing. Specifically, we discuss:

  • the impact of the internet of things (IoT) on your business
  • opportunities in outdoor power across several vertical markets
  • how the transition to urban, multi-use buildings affects distributors
  • how changes in space utilization are presenting new sales opportunities
  • the effects of solar energy on outdoor power availability
  • the integration of design elements into electrical devices for homes, hotels and offices
  • how distributors are incorporating marketing automation strategies
  • how tED magazine’s Best of the Best Marketing Competition is raising the bar
  • why marketing people should be involved in upper management

Also, hear how Legrand uses their Distributor Marketing Council to take the pulse of their distributor customers, share best practices, and test new marketing programs.

Subscribe to Market Boldly on iTunes or Google Play Music. Please share this podcast with your friends and associates in manufacturing and distribution.

Market Boldly 004 – Shad Thomas on Best of the Best Marketing & The Role of Research

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Market Boldly 004 - Shad Thomas on Best of the Best Marketing & The Role of Research
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Shad Thomas of Chicago-based Glass Box Research and I discuss what we saw at tED magazine’s Best of the Best Marketing Competition judging and the role of research in marketing. In this podcast, you’ll learn:

  • trends in electrical distribution marketing
  • the difference between quantitative and qualitative research
  • the importance of understanding the customer journey
  • how research can inform your marketing strategy
  • what 3 questions research can answer
  • why everyone in the organization must understand the brand
  • the difference between brand awareness and brand equity
  • how you can mine information that you already have
  • what IT can tell you to inform your marketing
  • the importance of strategy

Subscribe to Market Boldly on iTunes or Google Play Music. Please share this podcast with your friends and associates in manufacturing and distribution.