NAED’s Customer & Product Profiles is a strategic tool for analyzing your data and the electrical market. It is the only solution in the electrical industry that provides a way for electrical distributors to submit their monthly point of sale data in an easy, secure, and anonymous way, and then view their results alongside aggregate data of the market.
By becoming a contributor, you will be able to identify growth areas, market trends, compare your product offering and position to the market, and track your true performance.
The Customer & Product Profiles program provides more accurate market share and market trends. It also provides you with new data monthly, giving you the confidence to make decisions about the future of your business.
For example, in reviewing the Customer Profiles, a participant would be able to see how particular types of businesses consume electrical products—their product mix, probability of sales, preferred buying method, diversity of demand, sales consistency, and trends in their buying levels. Leveraging this data can allow companies to understand how well they are serving their various customers and where potential areas for expansion and opportunity may be. It can keep you on the edge of where the industry is moving and prepare your business for changes in business conditions.
With Product Profiles, participants can easily see how products are being purchased in the industry—by different types of customer and product movements, selling methods, and what maximized sales of a product looks like. Leveraging this data can allow companies to understand new opportunities to sell products they’re already selling today, expand sales to existing and new customers, broaden their sales base, and increase revenues. You can even rank your products based on where the biggest opportunities for expansion might be.
Regarding security, NAED has partnered with D + R International, which has extensive experience with handling sensitive market data. Other participants only see aggregated data, and only when there is enough data for a given data set to mask the contributors.
Are you already a participant in Customer & Product Profiles? Click here to log in.
To learn more about NAED’s Customer & Product Profiles program, contact the NAED Member Engagement Team.