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Industrial Manufacturing News and Planned Industrial Project Reports - December 2019 Recap

By Evan Lamolinara | 01/13/2020 | 8:47 AM | Categories: Current Affairs

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Research by SalesLeads’ experienced industrial market research team, shows 144 new planned Industrial Manufacturing industry projects tracked during the month of December.

The following are selected highlights on new Industrial Manufacturing industry construction news.

 

Industrial Manufacturing - By Project Type

            Manufacturing/Production Facilities - 128 New Projects

            Distribution and Industrial Warehouse - 64 New Projects

           

Industrial Manufacturing - By Project Scope/Activity

            New Construction - 44 New Projects

            Expansion - 45 New Projects

            Renovations/Equipment Upgrades - 57 New Projects

            Plant Closings - 12 New Projects

 

Industrial Manufacturing - By Project Location(Top 10 States)

            Ohio - 13

            Texas - 11

            Minnesota - 10

            North Carolina - 10

            New York - 9

            South Carolina - 8

            Michigan - 7

            Wisconsin - 5

            Pennsylvania - 5

            Georgia - 5

 

Largest Planned Project

During the month of December, our research team identified 6 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.

The largest project is owned by General Motors, who is planning to invest $2 billion for the construction of a battery manufacturing facility in LORDSTOWN, OH. Construction is expected to start in Summer 2020.

 

Top 10 Tracked Industrial Manufacturing Projects

MICHIGAN:

Automotive mfr. is planning to invest $700 million for an expansion and equipment upgrades of their manufacturing facility in DEARBORN, MI. They are also planning to invest $700 million for an expansion and equipment upgrades of their plant in WAYNE, MI.

 

GEORGIA:

Specialty paper products mfr. is planning to invest $400 million for an expansion and equipment upgrades of their manufacturing facility in MACON, GA. Completion is slated for 2021.

 

ALABAMA:

Cement mfr. is planning to invest $250 million for the renovation and equipment upgrades on their processing facility in RAGLAND, AL. They have recently received approval for the project. Renovations are expected to start in early 2020, with completion slated for 2022.

 

OHIO:

Aerospace components mfr. is planning to invest $128 million for the construction of a manufacturing and office complex at Mason R and D Park East in MASON, OH. They are currently seeking approval for the project.

 

TEXAS:

Automotive components mfr. is planning to invest $110 million for the construction of a 205,000 sf office and manufacturing facility on Kohlenberg Road in NEW BRAUNFELS, TX. They have recently received approval for the project.

 

ARKANSAS:

Wood products mfr. is planning to invest $90 million for the renovation and equipment upgrades of a manufacturing facility in CONWAY, AR. Completion is slated for Summer 2021.

 

CALIFORNIA:

Startup biotechnology company is planning to invest $35 million for the construction of a 179,000 sf processing facility in JURUPA VALLEY, CA. They are currently seeking approval for the project.

 

NORTH CAROLINA:

Pharmaceutical company is planning to invest $57 million for an expansion of their processing facility in WILSON, NC. They have recently received approval for the project.

 

ONTARIO:

Modular building mfr. has recently agreed to lease a 300,000 sf manufacturing facility on South Service Rd. in STONEY CREEK, ON. They have recently started renovations to the facility.

 

TENNESSEE:

Heavy electrical equipment mfr. is planning to invest $87 million for the renovation and equipment upgrades on a recently acquired manufacturing facility in MEMPHIS, TN. They have recently received approval for the project.

 

Since 1959, SalesLeads, based out of Jacksonville, FL has been providing Industrial Project Reports on companies that are planning significant capital investments in their industrial facilities throughout North America. Our professional research team identifies new construction, expansion, relocation, major renovation, equipment upgrades, and plant closing project opportunities so that our clients can focus sales and marketing resources on the target accounts that have an impending need for their products, services, and indirect materials.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

Why Leads Are Important for Supply Chain & Logistics Companies

By Evan Lamolinara | 01/08/2020 | 5:52 AM | Categories: Current Affairs

Regardless of what your supply chain and logistics company sells -- products, services or a combination thereof -- the number and quality of leads you generate will influence its level of success. Supply chain and logistics companies that invest more time and resources into lead generation will obviously outperform their counterparts that invest less time and fewer resources into lead generation. Let’s review why consistently generating quality sales leads keeps the business moving forward.

 

Keeps Sales Reps Selling

Leads will keep your supply chain and logistics company's sales reps busy working the sales funnel. According to InsideSales, B2B sales reps spend roughly 40% of their working hours searching for a buyer to call. This is an unproductive use of their time. At the end of the article, we’ll discuss one way to keep sales reps calling sales leads that already have an identified project. As a sales manager, owner or president of the company, it’s important to oversee these quality sales leads and to maximize each one to its fullest.

 

It Takes 8 Attempts to Reach Buyers on the Phone

Not all sales leads will translate into sales. Research shows that it takes an average of eight attempts to reach a B2B buyer on the phone. And once a sales rep has a buyer on the phone, he or she must convince them to set an appointment or continue the conversation to further convince them to purchase your product and/or service. With a large volume of high-quality leads, B2B sales reps can call more buyers and, ultimately, generate more sales.

 

Increases ROI

According to a survey conducted by MarketingSherpa, the top sales lead generation priority among B2B companies is increasing measurable ROI. Without sales leads, supply chain and logistics sales reps will struggle to generate sales. They'll have to consume more time and resources searching for buyers to contact, resulting in a lower ROI.

 

Identify Decision Makers

SalesLeads can help you can identify the decision makers in a target business. If you generated a sales lead from your website with a call-in or a webform, the contact person may not include all of their information, or may be submitting the form on behalf of another contact within the company. How can you find the contact names at the right level? The Target Account Search feature in the Target Account Intelligence database allows you to search for a particular company name, and drill down with the provided contacts to uncover the decision maker(s) you’re searching for.

 

Create Custom and Personalized Content

With sales leads, you can create custom and personalized content that resonates with your supply chain or logistics company's audience of buyers. If you know a buyer's information, you can research him or her to create personalized content. After creating the personalized content, you can send it to the buyer. Buyers are more likely to respond allowing you to move it further down the sales funnel.

 

Source for High Quality Sales Leads

Remember I mentioned a way to keep sales reps calling sales leads that have an identified project? Here we go. SalesLeads’ researchers continuously follow the material handling industry. Our job is to keep tabs on these companies in order to know who’s expanding, relocating, renovating or purchasing new modernized equipment. As soon as we know, we let you know. These identified projects come in a form of a Project Report giving you critical information so you can make an intelligent phone call. Take a look for yourself. That’s the best way to understand the quality of the sales lead.

Sales & Marketing Tactics to Implement in 2020

By Evan Lamolinara | 01/08/2020 | 5:45 AM | Categories: Current Affairs

Now that 2020 is here, use this opportunity to plan or tweak your supply chain or logistics company's sales strategy, if you haven’t done so already. Sales tactics that worked in the past may no longer work in 2020. With each new year comes new sales tactics that fuel supply chain or logistics companies' growth. By using these sales tactics in your B2B company's operations, you'll attract more new customers and generate more sales leads, thereby setting the stage for a successful new year.

 

Personalized Sales Messages

While material handling companies have been using personalized sales messages for years, this tactic has become increasingly popular over time. According to a 2018 study, nearly three in four B2B companies said buyers expect personalized messages. Creating personalized sales messages takes time, but it can pay off in the form of increased sales as well as increased customer satisfaction.

 

Omnichannel Selling

What is omnichannel selling exactly? The term "omnichannel selling" refers to a multi-pronged sales tactic in which a B2B company uses a plethora of channels to communicate with prospective buyers. With omnichannel selling, you won't use a single channel to communicate with prospective buyers; you'll use multiple channels. Rather than relying on email to communicate with a prospective buyer, for example, you may use a combination of email, social media, online chat and phone.

This is a highly effective way to continuously work with sales leads, especially from SalesLeads. When you get notified by SalesLeads that one of our high quality sales leads is ready for viewing, the first thing you can do after you read about the sales lead, is to give them a call. Because we supply the contact name and direct phone number, it’s exactly what you need to make the first contact.

Next, send an email either reiterating what you discussed, or that you left a message. Then connect with the contact on LinkedIn. Now you have a way to send a personalized online message. Finally, get something in their hands by sending a personalized message with the brochure through the mail. Now you’ve touched all their senses in every way possible giving them information the way they want to receive it.

 

Big Data

You can't ignore the value of Big Data in your supply chain or logistics company's sales strategy. Research shows roughly 2.5 quintillion bytes of data are created each day. Rather than turning a blind eye to this data, you should use it to optimize your material handling company's sales strategy. By tapping into the power of Big Data, you can gain insight into the habits of your company's target audience, allowing you to create a more effective sales strategy.

 

Online Content

If you aren't publishing content online, you are missing out on one of the easiest ways to attract new buyers. Many material handling buyers begin their journey with an online search. A buyer may search for a type of product or service, for example, at which point he or she may stumble upon your company's website. By publishing content online, you can attract these buyers and convert them into customers.

 

Marketing and Sales Alignment

Finally, you should consider aligning your supply chain or logistics company's marketing and sales departments in 2020. According to ZoomInfo, B2B companies that embrace marketing and sales alignment grow nearly 24% more quickly than their counterparts with segmented marketing and sales departments.

Hope we gave you a few new ideas to plan for in 2020. Happy Selling!

Industrial News and Planned Industrial Construction Projects - November 2019 Recap

By Evan Lamolinara | 12/15/2019 | 10:56 AM | Categories: Current Affairs

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Research by SalesLeads’ experienced industrial market research team, shows 431  new planned industrial projects tracked during the month of November. 

Planned industrial project activity decreased by 1% from the previous month, and is down 5% YTD from the previous year. 

The following are selected highlights on new industrial construction news and project opportunities throughout North America. 

 

Planned Industrial Construction - By Project Type:

            Manufacturing Facilities - 162 New Projects

            Processing Facilities - 118 New Projects

            Distribution and Industrial Warehouse - 149 New Projects

            Power/Energy/Oil and Gas - 13 New Projects

            Laboratory Facilities - 24 New Projects

            Mine - 1 New Project

            Terminal - 1 New Project

            Pipeline - 0 New Projects

           

Planned Industrial Construction - By Scope/Activity

            New Construction - 195 New Projects

            Expansion - 122 New Projects

            Renovations/Equipment Upgrades - 134 New Projects

            Plant Closing - 22 New Projects

 

Planned Industrial Construction - By Location (Top 10 States)

Texas  - 30

California - 26

New York - 25

Ohio - 25

Indiana - 20

Pennsylvania - 19

Florida - 18

Georgia - 15

Michigan - 15

Wisconsin - 15           

 

Largest Planned Industrial Construction Project

 During the month of November, our research team identified 21 new General Industrial facility construction projects with an estimated value of $100 million or more. 

The largest project is owned by Sunflower Electric Power Corporation, who is planning to invest $2 billion for the construction of an 895MW coal-fired power processing plant in Holcomb, KS. They are currently seeking approval for the project. 

 

Top 10 Tracked Industrial Construction Projects 

TENNESSEE:

Automotive mfr. is investing $800 million and has recently started a 762,000 sf expansion and equipment upgrades of their manufacturing and battery production facility in CHATTANOOGA, TN. Completion is slated for 2022.

 

ALABAMA:

Automotive mfr. is planning to invest $410 million for a 230,000 sf expansion and equipment upgrades of their manufacturing facility in MONTGOMERY, AL Completion is slated for 2021.

 

GEORGIA:

Paper towel and tissue mfr. is planning to invest $400 million for an expansion and equipment upgrades of their manufacturing facility in MACON, GA. Completion is slated for 2022.

 

INDIANA:

Pharmaceutical company is planning to invest $400 million for the renovation and equipment upgrades on their processing facility in INDIANAPOLIS, IN. They have recently received approval for the project.

 

MICHIGAN:

Agricultural company is planning to invest $145 million for an expansion of their processing facility in MIDLAND, MI. They have recently received approval for the project.

 

MINNESOTA:

Energy company is planning to invest $700 million for the construction of a natural gas power plant in DULUTH, MN. They are currently seeking approval for the project. Completion is slated for 2025.

 

MISSOURI:

Automotive mfr. is planning to invest $400 million for an expansion and equipment upgrades of their manufacturing facility in KANSAS CITY, MO.

 

CALIFORNIA:

Municipality is investing $200 million and has recently started the construction of a wastewater treatment processing plant at 2500 Navy Dr. in STOCKTON, CA.

 

NEVADA:

Industrial equipment mfr. is planning to invest $327 million for the construction of a 2 million sf manufacturing facility in HENDERSON, NV. They are currently seeking approval for the project. Construction is expected to start in April 2020, with completion slated for late 2022.

 

OHIO:

Automotive mfr. is planning to invest $175 million for the construction of a 251,000 sf manufacturing facility in BROOKVILLE, OH. Completion is slated for late 2020.

 

Since 1959, SalesLeads, based out of Jacksonville, FL has been providing Industrial Project Reports on companies that are planning significant capital investments in their industrial facilities throughout North America. Our professional research team identifies new construction, expansion, relocation, major renovation, equipment upgrades, and plant closing project opportunities so that our clients can focus sales and marketing resources on the target accounts that have an impending need for their products, services, and indirect materials. 

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

Distribution and Supply Chain News and Planned Industrial Project Reports - November 2019 Recap

By Evan Lamolinara | 12/15/2019 | 10:51 AM | Categories: Current Affairs

Supplynov

Research by SalesLeads’ experienced industrial market research team, shows 149 new planned Distribution and Supply Chain industry project opportunities tracked during the month of November. 

Planned industrial project activity within the sector decreased by 8% from the previous month. 

The following are selected highlights on new Distribution Center and Warehouse construction news

 

Distribution and Supply Chain - By Project Type

            Distribution/Fulfillment Centers - 42 New Projects

            Industrial Warehouse - 124 New Projects

           

Distribution and Supply Chain- By Project Scope/Activity

            New Construction - 85 New Projects

            Expansion - 41 New Projects

            Renovations/Equipment Upgrades - 32 New Projects

            Closing - 0 New Projects

 

Distribution and Supply Chain - By Project Location (Top 5 States)

Texas - 16

Pennsylvania - 9

California - 8

Ohio - 8

New York - 7        

  

Largest Planned Project 

During the month of November, our research team identified 2 new Distribution and Supply Chain facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Jacksonville Port Authority, is planning to invest $238 million for the expansion, renovation, and equipment upgrades at their container terminal in Jacksonville, FL. They have recently received approval for the project.

  

Top 10 Tracked Distribution and Supply Chain Project Opportunities 

OHIO:

Poultry processing company is planning to invest $126 million for a 180,000 sf expansion, renovation, and equipment upgrades on their warehouse and processing facility in WINESBURG, OH. They have recently received approval for the project.

 

ALABAMA:

Online used-car dealer is planning to invest $40 million for the construction of a vehicle distribution, maintenance, and storage facility on Morgan Road in BESSEMER, AL. They have recently received approval for the project.

 

IOWA:

Logistics and warehousing service provider is planning for the construction of a 250,000 sf distribution center at 9940 Atlantic Dr. SW in CEDAR RAPIDS, IA. They have recently received approval for the project.

 

INDIANA:

Battery mfr. is planning to invest $63 million for the renovation and equipment upgrades on a 933,000 sf packaging and distribution center in FRANKLIN, IN. They are currently seeking approval for the project.

 

NEW YORK:

Utility company is planning to invest $35 million for the construction of a 113,000 sf warehouse and training facility at 2001 Ulster Avenue in LAKE KATRINE, NY. They have recently received approval for the project.

 

PENNSYLVANIA:

Logistics service provider is planning for the construction of a 1 million sf distribution facility in DAUPHIN, PA. They are currently seeking approval for the project.

 

TENNESSEE:

Logistics service provider is planning to invest $28 million for the renovation and equipment upgrades on a 640,000 sf warehouse and distribution facility at 5461 Davidson Rd. in MEMPHIS, TN. They have recently received approval for the project.

 

WISCONSIN:

Metal components mfr. is planning for the renovation of a 205,000 sf warehouse facility at 8500 116th Street in PLEASANT PRAIRIE, WI. They expect to occupy the location in Spring 2020.

 

GEORGIA:

Tire mfr. has recently started the construction of a 1.5 million sf distribution center in NEWNAN, GA. Completion is slated for March 2021.

 

MISSISSIPPI:

Global online retailer is planning for the construction of an 1 million sf distribution facility in OLIVE BRANCH, MS. They are currently seeking approval for the project.

 

 

Since 1959, SalesLeads, based out of Jacksonville, FL has been providing Industrial Project Reports on companies that are planning significant capital investments in their industrial facilities throughout North America. Our professional research team identifies new construction, expansion, relocation, major renovation, equipment upgrades, and plant closing project opportunities so that our clients can focus sales and marketing resources on the target accounts that have an impending need for their products, services, and indirect materials.

 

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

Material Handling Sales Trends in 2020

By Evan Lamolinara | 12/03/2019 | 7:57 AM | Categories: Current Affairs

With 2020 right around the corner, there's no better time than the present to reevaluate your material handling company's sales 2020strategy. Sales tactics that worked in the past may longer work in 2020. As we approach the new year, you can expect to see several innovative sales tactics being used. Below is a list of some of the top sales trends that will define 2020. By leveraging these trends in your logistics or supply chain company's sales strategy, you'll kick off the new year on the right foot.

Chatbots or Live Chats

While they were originally designed for use by B2C companies, chatbots have since found their way into the B2B industry. How does a chatbot work? Even if you're unfamiliar with the term, you've probably encountered a chatbot when shopping online. Many e-commerce websites use them to provide customer support. A chatbot is a program that converses with a website's visitors. Of course, it's not an actual customer service rep; chatbots are powered by computer algorithms. Assuming your B2B company has a website, you can deploy a chatbot on it to attract new sales leads and generate more sales.

As an alternative, you can also use live chat on your website. It allows you to communicate with potential customers right away. The only caveat is that someone has to answer if it alerts you that someone has a live question. It doesn't have to cost a lot or anything at all. One type of free software is tawk.to, a liv chat software that won't cost your company any money, and you get warm to hot leads right away. 

AI Data Analytics

In addition to chatbots, the use of AI-based data analytics solutions among supply chair or logistics companies is expected to increase in 2020 and the years to follow. Rather than manually analyzing data for sales prospecting and sales lead generation purposes, material handling companies are now using AI-powered software to perform this task. It's a faster, more efficient and more effective way to analyze large amounts of data. As a result, sales reps can focus their time and energy in the right places for greater sales opportunities. 

Personalization

We've talked about the benefits of personalization in material handling sales previously on our blog, but it's worth mentioning that personalized sales messages will continue into 2020. Research shows that sales reps who personalize their sales messages generate nearly 20% more sale leads than their counterparts who don't personalize messages.

Live Video

Another supply chain and logistics sales trend in 2020 is live video. According to Vimeo, 82% of internet users would prefer to watch a live video from a company than to read an article or other piece of text content. When compared to traditional prerecorded video, live video is more authentic, genuine and credible. The downside to live video is that it takes more work to produce than prerecorded video. Nonetheless, it can pay off in the form of increased engagement. Prospective buyers will spend more time watching your company's live video streams, which may compel them to contact its sales team.

Fresh Project Reports to use the Sales Trends On

Now that you know what you need to do to communicate with sales leads, let's put it to work. Project Reports are leads that have identified projects. Meaning, you get a short description of what the company wants and needs. You'll also know the project type, project stage and project value, all critical pieces of information that qualify the prospect. Add the contact name, phone and email and you're ready to go. 

Now you can call them and use personalization and video to share your important company and product information to keep in front of them. 

Fresh Sales Leads that Reflect Your Best Customers

If you've take the time to know who your best customers are, write down as much information as possible. Give SalesLeads a call and we can help you put together a targeted list that reflects your best customers. 

Contact me at 800.231.7876.

9 Important Key Performance Indicators (KPI) for Those in Logistics & Supply Chain Sales and Marketing

By Evan Lamolinara | 12/03/2019 | 7:49 AM | Categories: Current Affairs

Are you tracking the right key performance indicators (KPIs)? Some logistics and supply chain companies pay little or no attention to Kpi KPIs. Instead, they focus their time and attention strictly on generating sales. While sales volume itself is a KPI, there are several other KPIs that can help you streamline a more effective sales and marketing process. So, what KPIs should you track for supply chain and logistics sales and marketing exactly?

#1) Average Cost Per Lead

As the name suggests, average cost per lead is a KPI that reveals how much money your material handling company spends to acquire leads. The cost of a lead can vary depending on countless factors. With that said, it's not uncommon for companies to have an average cost per lead of $5 to $50. If you are not sure what your cost per lead is, the only way you'll know is to start tracking your average cost per lead.

Remember, cost per lead differs from its place of origin. For instance, the cost for a website lead is going to be different than a lead from a Project Report from SalesLeads. The Project Report had already an identified project, or sales lead. The cost of that process has already been reduced.

#2) Cost of Customer Acquisition

Not to be confused with cost per lead, cost of customer acquisition reflects how much your supply chain or logistics company spends to acquire customers. Leads, of course, are only valuable if you're able to convert them into customers. By tracking the cost of customer acquisition, you'll know how much money your company spends, on average, to acquire new customers.

#3) Customer Retention Rate

While speaking of cost of customer acquisition, statistics show that it costs five to 25 times more money to acquire a new customer than it does to retain an existing customer. Therefore, it's a good idea to track your supply chain or logistics company's customer retention rate. This KPI shows the percentage of customers who stay with your company during a given period. If 800 out of 1,000 customers stayed with your   company last year, your material handling company's customer retention rate for that year would be 80%.

#4) Customer Lifetime Value

How much money does a typical customer spend over the course of his or her professional relationship with your B2B company? Known as customer lifetime value, it's an important KPI for material handling companies. Not all customers make a one-time purchase. You'll probably discover some customers make multiple purchases over time. Customer lifetime value is the average amount of money a customer spends with your company.

#5) Conversion Rate

Arguably, one of the most important marketing and sales KPIs is conversion rate. Of course, conversion rate is the percentage of leads or prospects whom you are able to convert into customers. You can track this KPI per marketing or sales channels. If you send 500 emails that result in 50 new sales, the conversion rate of your email campaign is 10%. On the other hand, if you call 500 leads, which generates 100 new sales, the conversion rate of your calling campaign is 20%. Conversion rate reflects the effectiveness of a marketing or sales campaign. As a result, it's an important KPI for material handling companies to track.

#6) Average Order Value

Another important KPI to track is average order value. Average order value is the average amount of money customers spend when making a purchase. Some customers will purchase more products or services than other customers. Furthermore, a customer may purchase multiple units of a particular product or service. You'll have a better understanding of how much money customers spend when placing orders by tracking your supply chain or logistics company's average order value.

#7) Social Media Engagement

Considering most businesses and business professionals have a LinkedIn profile, you should track social media engagement. Social media engagement can include any form of "action" taking by a user. On LinkedIn this could be connections, comments and shares. On Twitter, this may include likes, comments and retweets. Ideally, your  company's social media engagement should grow, which indicates that more people are talking about it on social media networks.

#8) Cold Calling Response Rate

Assuming you use cold calling in your supply chain or logistics company's outreach strategy, you should track your cold calling response rate. This KPI reflects the percentage of contacts whom you are able to reach with cold calling. If you cold call 100 leads and prospects but only reach 10 of them on the line, your cold calling response rate is 10%. Like all other KPIs listed here, you should strive to increase your company's cold calling response rate. If you don’t know already, find that best time when they answer the phone. Track when they answer the phone. Is it mostly early in the morning before 8? Lunch? Or after 4:00? This will help you to maximize your efforts.

#9) Website Traffic

If your material handling company has a website -- which it should -- tracking its traffic can help give you a better understanding of the effectiveness of your marketing and sales efforts. When website traffic increases, it suggests more people are finding it through common channels like search engines, browser type-ins, referrals, etc.

Being able to track the various ways you get leads will help you know where to spend your money and time. Consider SalesLeads for 2020s budget. You’ll get identified projects that gets you right in the sales process. For more information, visit us at www.salesleadsinc.com.

Is the Economy Slowing? How to Create New Critical Sales.

By Evan Lamolinara | 11/06/2019 | 1:25 PM | Categories: Current Affairs

Weakening economic indicators have stopped business owners and sales managers in their tracks. They are taking a step back in order to revisit their sales and marketing strategies for 2020. Analyzing two years’ worth of data from the Business Confidence Index, it indicates that the economy has consistently trended downward month after month.

Often companies respond to economic uncertainty by cutting programs, reducing marketing headcount and increasing pressure on sales to perform. This type of action can be in direct conflict with bottom-line revenue.

When a heightened level of uncertainty, there are two approaches to consider:

Current Customers

There’s no better time like today to reinforce the commitment you have to your customers and they have to you.

  1. Identify top performing customers (frequency in purchases or usage), and a middle tier performing customers (those that buy, but have the potential to purchase even more). You can use the expertise of marketing and sales to help gather the information.
  2. Send personalized communications, calling efforts, and on-site visits to show a consultative approach. How can you help improve their business with what you know and with your products and services?
  3. Are there other departments or divisions of the business that can use your products and services? Do you know who they are? You can ask your customer, but many times they won’t know the answer. However, they will refer you if they know who the right person is. So how can you get the names and contact information of key contacts in the other division or departments?

Use SalesLeads’ Target Account Sales Intelligence. The system will help you acquire the information you need. Once you get their names, titles and contact information, go to the customer and ask if you can use their name as an internal reference, and if they’d be willing to make a call on your behalf.

Acquiring New Customers

It seems impossible to acquire new customers with the threat of an economic downturn. There are some critical strategies you can use to help keep the new customer funnel at profitable levels.

  1. Review the sales funnel for each of your sales reps in order to get a more accurate understanding of each potential new customer. Identify weak areas, and use the ‘war room’ approach to strategize. Be sure to include marketing to help reinforce the message with the various channels. This can be a way to further customers down the sales cycle.
  2. Use SalesLeads’ Project Reports. SalesLeads’ researchers uncover sales and marketing intelligence on companies that are planning to relocate, expand, renovate or modernize their equipment. These identified projects are exactly what is necessary to begin the sales cycle. Again, be sure to include marketing to create a strategy and program to keep in front of prospects especially if it’s a long(er) sales cycle. One of the best ways to understand the quality of the Project Reports is to open a free account.
  3. Keep the multi-channel lines of communications consistent to your prospects. If you are emailing or mailing, implement the targeted campaign in small batches. Personalize the communications and allow sales to follow up on some or all of those that were sent. It’ll make for a multi-touch scenario, which will help drive a conversation with the prospect.

If you’re interested in learning more about these subjects, let us know at info@salesleadsinc.com. If you’re ready to give our project reports or market intelligence a try, open a free account to get started.

9 Important Key Performance Indicators (KPI) for Companies in the Material Handling Industry

By Evan Lamolinara | 11/06/2019 | 1:17 PM | Categories: Current Affairs

Are you tracking the right key performance indicators (KPIs)? Lots of material handling companies such as supply chain and logistics companies pay little or no attention to KPIs. Instead, they focus their time and attention strictly on generating sales. While sales volume itself is a KPI, there are several other KPIs that can help you create a more effective, as well as successful, material handling company. So, what KPIs should you track for sales and marketing exactly?

#1) Average Cost Per Lead

As the name suggests, average cost per lead is a KPI that reveals how much money your company spends to acquire leads. The cost of a lead can vary depending on countless factors. With that said, it's not uncommon for companies in the material handling industry to have an average cost per lead of $5 to $50. The only way you'll know how much money your company spends on leads is to track average cost per lead. But…be sure to also track the origin of the lead. That will help you to determine where to make your investment.

#2) Cost of Customer Acquisition

Not to be confused with cost per lead, cost of customer acquisition reflects how much your supply chain or logistics company spends to acquire customers. Leads, of course, are only valuable if you're able to convert them into customers. By tracking the cost of customer acquisition, meaning the cost of the sales cycle, you'll know how much money your company spends, on average, to acquire new customers.

#3) Customer Retention Rate

While speaking of cost of customer acquisition, statistics show that it costs five to 25 times more money to acquire a new customer than it does to retain an existing customer. Therefore, it's a good idea to track your customer retention rate. This KPI shows the percentage of customers who stay with your company during a given period. If 800 out of 1,000 customers stayed with your supply chain company, for instance, last year, your supply chain's customer retention rate for that year would be 80%.

#4) Customer Lifetime Value

How much money does a typical customer spend over the course of his or her professional relationship with your company? Known as customer lifetime value, it's an important KPI for the material handling industry. Not all customers make a one-time purchase. You'll probably discover some customers make multiple purchases over time. Customer lifetime value is the average amount of money a customer spends with your company. This can also reveal buying patterns, which can be useful to proactive communications with the customer as well as forecasting revenue.

#5) Conversion Rate

Arguably, one of the most important marketing and sales KPIs is conversion rate. Of course, conversion rate is the percentage of leads or prospects whom you are able to convert into customers. You can track this KPI per marketing or sales channels. If you send 500 emails that result in 50 new sales, the conversion rate of your email campaign is 10%. On the other hand, if you call 500 leads, which generates 100 new sales, the conversion rate of your calling campaign is 20%. Conversion rate reflects the effectiveness of a marketing or sales campaign.

#6) Average Order Value

Another important KPI to track is average order value. Average order value is the average amount of money customers spend when making a purchase. Some customers will purchase more products or services than other customers. Furthermore, a customer may purchase multiple units of a particular product or service. You'll have a better understanding of how much money customers spend and you can target products and/or services down the road.

#7) Social Media Engagement

Social media engagement can include any form of "action" taken by a user. On LinkedIn, this may include likes, comment, following or how many viewed your profile. On Twitter, this may include likes, comments and retweets (which are essentially shares). Ideally, your B2B company's social media engagement should grow, which indicates that more people are talking about it on social media networks.

#8) Cold Calling Response Rate

Assuming you use cold calling in your company's outreach strategy, you should track your cold calling response rate. This KPI reflects the percentage of contacts whom you are able to reach with cold calling. If you cold call 100 leads and prospects but only reach 10 of them on the line, your cold calling response rate is 10%. Like all other KPIs listed here, you should strive to increase your company's cold calling response rate. If it's too low, you won't generate positive results from the amount of time and resources that you invest into cold calling.

One of the most effective ways to improve the KPI is the use Project Reports from SalesLeads. The Project Reports are identified projects of companies that are relocating, expanding, building or modernizing their equipment. You’ll know when target companies in your territory or area of coverage need your product or service. Now you can proactively call them and get started in the sales process. One of the best ways to evaluate its effectiveness is to open a complimentary account. You’ll be able to ‘see’ for yourself the quality of the project reports and maybe even call a few.

#9) Website Traffic

If your material handling company has a website -- which it should -- tracking its traffic can help give you a better understanding of the effectiveness of your marketing and sales efforts. When website traffic increases, it suggests more people are finding it through common channels like search engines, browser type-ins, referrals, etc. On the other hand, a reduction in website traffic suggests fewer people are finding it through these channels.

Cannabis Construction News and Planned Industrial Project Reports - Q3 - 2019 Recap

By Evan Lamolinara | 10/18/2019 | 11:51 AM | Categories: Current Affairs

Research by SalesLeads’ experienced industrial market research team, shows 70 new planned Cannabis and Medical Marijuana projects tracked during the 3rd Septcannibis quarter of 2019.

Planned industrial project activity within the sector increased by 18% from the previous quarter, and is up 57% YTD over the previous year.

The following are selected highlights on new cannabis and medical marijuana industry construction news.

 

Cannabis - By Project Type

            Processing Facilities - 62 New Projects

            Distribution and Industrial Warehouse - 15 New Projects

 

Cannabis - By Project Scope/Activity

            New Construction - 30 New Projects

            Expansion - 9 New Projects

            Renovations/Equipment Upgrades - 32 New Projects

 

Cannabis - By Project Location(Top 5 States)

            California - 10

            Massachusetts - 7

            British Columbia - 4

            Colorado - 4

            Illinois - 3

 

Largest Planned Project

During the 3rd quarter of 2019, our research team identified 3 new Cannabis facility construction projects with an estimated value of $50 million or more.

The largest project is owned by Layn USA Inc., who is considering investing $52 million for the construction of a growing and processing facility in JEFFERSONVILLE, IN. Watch SalesLeads for updates.

 

Top 5 Tracked Cannabis and Medical Marijuana Projects

 

BRITISH COLUMBIA:

Medicinal marijuana provider is planning for the construction of a 2.2 million sf growing and processing facility and currently seeking a site in DELTA, BC. Watch SalesLeads for updates.

KENTUCKY:

Hemp producer is planning for the renovation and equipment upgrades on their 1.8 million sf growing and processing facility in PARIS, KY.

MASSACHUSETTS:

Medicinal marijuana provider is planning to invest $40 million for the renovation and equipment upgrades of recently leased 150,000 sf of growing and processing space in HOLYOKE, MA.

ONTARIO:

Medicinal marijuana provider is planning for the construction of an 800,000 sf growing and processing facility in SIMCOE, ON. They are currently seeking approval for the project.

PENNSYLVANIA:

Medicinal marijuana provider is planning to invest $30 million for the renovation and equipment upgrades on two recently leased growing, warehouse, and processing facilities totaling 54,000 sf in SCOTT TOWNSHIP, PA.

 

Since 1959, SalesLeads, based out of Jacksonville, FL has been providing Industrial Project Reports on companies that are planning significant capital investments in their industrial facilities throughout North America. Our professional research team identifies new construction, expansion, relocation, major renovation, equipment upgrades, and plant closing project opportunities so that our clients can focus sales and marketing resources on the target accounts that have an impending need for their products, services, and indirect materials.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

The opinions expressed herein are those solely of the participants, and do not necessarily represent the views of Agile Business Media, LLC., its properties or its employees.

About Evan Lamolinara

Evan Lamolinara

Evan Lamolinara is president of SalesLeads, Inc., a company that has been around for over 60 years, generating high quality sales leads dedicated to the sales & marketing professionals in the industrial marketplace. Mr. Lamolinara, an entrepreneur and competitor, purchased the legacy company in 2014. Since then, he's redeveloped its core software delivery platform and grew the company over 400%. Evan graduated from Mount Union College with B.A. Business Management and honed his competitive skills as a 3-year letterman on the College football team.



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