IMARK supplier company executives share their insights into achieving success with the GainShare joint planning program.
The IMARK GainShare joint market planning program for members and suppliers is a consistent driver of enhanced profitability, often resulting in increased sales and profit dollars for both members and suppliers.
IMARK Plumbing Now: What key benefits has your company gained by participating in GainShare?
Matt Lemke, PRIER Products (Grandview, Missouri): We know GainShare members outperform (buy more from PRIER) than non-GainShare members. In 2020, GainShare members increased more than 50% versus 2019 contrasted by non-GainShare members who increased about 20%. The additional GainShare incentive contributed to the dynamic growth, but we also deployed consistent and relevant communications to our GainShare partners. Resulting in the members knowing that PRIER is a partner in their business and aiding their efforts to achieve success. GainShare also provides PRIER an edge over non-approved suppliers. If quality and delivery and pricing are similar, through GainShare and IMARK rebates, PRIER can offer bonuses others cannot. We still must have a quality product and delivery/availability is still non-negotiable, but GainShare adds an extra dimension for the members.
Nick Eleftheriou, Pioneer Industries (City of Commerce, California): GainShare drives focus and improves results. Our marketing and sales teams have a greater focus on GainShare participants, improving their understanding of each customer’s specific needs, which allows them to recommend the best product mix for each customer and for each job.
IMARK Plumbing Now: How has GainShare aided your sales and marketing efforts for greater awareness on your product offering?
Lemke: Attempting to get time in front of the customer is paramount. Having a GainShare plan allows us to have a reason to call or communicate with a member. Through this, we can branch off to other things PRIER has to offer such as new products and/or product improvements.
Eleftheriou: In addition to helping us to develop new relationships, GainShare has helped Pioneer deepen relationships with existing customers. A focus on GainShare has resulted in an improved contact strategy that helps us better understand how we can support the growth of our customers’ business. Their success also spurs our success —a great win/win. In 2020, Pioneer’s sales grew 67% with GainShare customers who hit their goal!
IMARK Plumbing Now: How has your company communicated and coordinated the GainShare program with your salesforce?
Eleftheriou: The GainShare dashboard and the monthly GainShare Status Report help us stay on the same page as our GainShare partners and focus on maximizing the program benefits. We distribute monthly results to our sales and marketing teams, adapting our strategy based on the latest results. For example, if a member is close to their GainShare target, we make sure they are aware of that, then work with them to deliver the products that best serve their needs and their customers.
The insights and “ahas!” that have resulted from deeper customer relationships have translated into new product and service offerings that fill specific member requirements and we are picking up market share as a result.
The positive impact of the GainShare program is undeniable. So far in 2021, our sales with GainShare customers have more than doubled versus last year! As Pioneer moves forward, we are also utilizing a multi-year GainShare plan that increases the incentive for continued growth.
Lemke: As the members submit their GainShare plans, each regional is notified along with what activities the member wants to pursue for the year. The regionals then work with local reps to schedule time with the members to complete the selected sales and marketing activities such as training, counter days, promotions, new product introduction, etc. Each month our sales team reviews the GainShare Status Report. This data allows us to follow-up directly with our GainShare partners and/or include the local rep to ensure progress is being made.
I also send monthly emails to all GainShare partners, alerting them of sales updates made to their GainShare Status Reports. In addition, I use this opportunity to add “exclusive” content like new product introductions and/or PRIER news. I usually get a handful of replies and, with the disruption last year, received quite a few “thanks” for the regular communication. Prior to Q4, we update all GainShare partners individually (usually by phone) to alert them where they stand with GainShare and what is needed to hit the next tier. This usually gives PRIER a good bump in Q4 sales, which is our smallest volume quarter of the year.
