IBS Electronics Group is a global distributor founded in 1980 in Southern California, USA. They support the electronics manufacturing and industrial industries by providing a wide range of services, including inventory management, vendor consolidation, engineering services, prototyping, and custom design support integrated into the cost of the distributed components and products globally.
Beth Dureza spearheaded the establishment of IBS Electronics’ offices in both the Philippines and India, initially as a country manager, then progressing to managing director for Asia-Pacific. Prior to this, she held positions as a sales engineer, sales supervisor, strategic account manager, and country head at various B2B companies. Dureza was honored as part of the inaugural batch of winners of the Mansmith Sales Masters Awards, the industry’s first sales awards, which will be awarded on Aug 2, 2024 at the Carlos Romulo Auditorium, Makati. In this interview, Dureza shares insights into launching the sales efforts of a newly established company and actionable sales lessons.
Q1: How did you acquire your first clients when establishing IBS Electronics’ offices in the Philippines and India?
A1: When we established IBS Electronics’ offices in the Philippines and India, our first clients were my old customers whom I had known for several years working in the industry. These clients had developed a strong trust in me over time, and we had established solid relationships. I leveraged these relationships to introduce our new operations, assuring them of the same level of commitment and service they had come to expect. Additionally, existing customer referrals played a major role in acquiring new clients. Satisfied customers recommended our services to their networks, which significantly expanded our reach. We also conducted thorough market research to identify key industries and companies that could benefit from our products and service offerings. By attending industry events, participating in trade shows, and engaging in direct marketing efforts, we were able to further grow our client base. Our commitment to providing high-quality products and exceptional service helped establish a strong foundation for future growth.
Q2: Securing major multinational accounts is no small feat. Could you guide us through the process of acquiring these accounts and highlight any unique challenges or successful tactics you utilized?
A2: Securing major multinational accounts involved a meticulous and personalized approach. Our process began with conducting an in-depth analysis of the target company’s needs and pain points. Understanding their key performance indicators (KPIs) was crucial, as it allowed us to align our tailor-fit offers with their specific goals and metrics for success. This alignment demonstrated our commitment to addressing their unique challenges and delivering measurable results.
Building relationships was a critical component of our strategy. We invested significant time in understanding the client’s business, fostering trust, and demonstrating our commitment to their success. This involved multiple meetings, presentations, and site visits to ensure we were fully aligned with their expectations.
One unique challenge we faced was navigating different corporate cultures and decision-making processes across regions. Each multinational client had its own set of protocols and approval hierarchies, which required a flexible and patient approach. We overcame this by maintaining clear and consistent communication, being adaptable, and showing cultural sensitivity to build rapport and trust.
Successful tactics included offering customized solutions that specifically addressed the client’s KPIs, providing exemplary after-sales support, and showcasing our global supply chain capabilities to ensure reliability and efficiency. We also leveraged case studies and testimonials from existing clients to build credibility and demonstrate our track record of success.
Additionally, we implemented a proactive approach to problem-solving, anticipating potential issues and presenting solutions before they became obstacles. This proactive stance reassured our clients of our dedication to their success and solidified our reputation as a reliable partner.
Q3: Achieving record-breaking sales during a global pandemic and economic downturn is remarkable. What were the key factors contributing to your success during this challenging period, and how did you and your team adapt to the circumstances?
A3: Achieving record-breaking sales during the global pandemic and economic downturn was a result of our agility, innovation, and strategic investments in technology. We significantly enhanced our online presence, revamped our website, and improved digital marketing efforts to stay connected with clients virtually. Transforming our company into a data and technology-driven organization, we implemented a reliable Customer Relationship Management (CRM) system and leveraged cloud computing to ensure seamless access to our ERP systems. This enabled us to fulfill customer orders and respond to RFQs without disruption.
Maintaining robust supply chain operations and working closely with suppliers ensured timely delivery of products despite global disruptions. Our team adapted to remote work by utilizing digital collaboration tools, maintaining strong communication, and providing continuous support to clients. Understanding the novel challenges of working from home, we humanized our business approach by acknowledging and addressing the personal and professional difficulties faced by our employees and stakeholders. This fostered a supportive and empathetic environment.
Proactive customer support, flexible payment terms, personalized solutions, and innovative marketing strategies such as virtual product demonstrations and webinars helped us stay ahead of the competition. The resilience and dedication of our team were instrumental in navigating these challenges. Our close team communication and the ability to understand and adapt to the unique challenges of the pandemic ensured our success. These strategic initiatives, combined with our commitment to client satisfaction, enabled us to achieve record-breaking sales despite the challenging circumstances.
Q4: Identifying and integrating top-tier product lines into your offerings demonstrates a keen understanding of market demands. How did you identify these product lines, and what was your approach to successfully integrating them into your sales strategy?
A4: Identifying top-tier product lines involved continuous market analysis and leveraging our strong customer relationships. Our clients often referred us to suppliers, helping us secure high-quality product lines. We monitored industry trends and technological advancements to identify emerging opportunities. Engaging closely with clients provided insights into their needs and preferences, while supplier partnerships established through client referrals ensured access to top-tier products.
We collaborated with suppliers to ensure new products met quality standards and aligned with client needs. Our sales team received thorough training to effectively communicate the benefits of the new products. Targeted marketing campaigns generated interest and highlighted the unique advantages of these products. Providing exemplary after-sales support reinforced our commitment to client satisfaction.
By gathering continuous feedback and monitoring performance, we made necessary adjustments to ensure the products met expectations. This comprehensive approach allowed us to successfully integrate top-tier products into our offerings, meeting the evolving demands of our clients.
Q5: Building a high-performing sales and customer service team is crucial for any company’s success. Can you share insights into how you cultivated such a team culture, and what specific initiatives or practices contributed to being recognized as one of the Top 5 Great Places to Work in the Philippines for 2022?
A5: Cultivating a high-performing team culture involved fostering an environment of collaboration, continuous learning, and recognition. We focused on hiring individuals who not only had the right skills but also aligned with our company values. Our HR team played a crucial role in fostering this culture and helping us win the recognition as one of the Top 5 Great Places to Work.
Regular training and development programs were implemented to enhance skills and keep our team updated with industry trends. We encouraged open communication, feedback, and innovation, allowing team members to contribute ideas and solutions. Recognizing and rewarding achievements was a key practice that motivated our team.
Additionally, we prioritized work-life balance and employee well-being, offering flexible work arrangements and wellness programs. These initiatives created a positive and supportive work environment. Our HR team ensured that these practices were integrated into our daily operations, which significantly contributed to our high employee satisfaction and strong team performance.
Overall, the combined efforts of our HR team, management, and employees in fostering a collaborative and supportive culture were instrumental in achieving high performance and being recognized as one of the Top 5 Great Places to Work in the Philippines for 2022.
Q6: What do you monitor to know the health of your existing and future sales revenues, efficiency, and effectiveness?
A6: To monitor the health of our sales revenues, efficiency, and effectiveness, we rely on a combination of key performance indicators (KPIs) and advanced analytics. Key metrics include sales growth, customer acquisition and retention rates, average deal size, and sales cycle length. Tracking these metrics helps us understand trends and drive growth.
We also monitor the performance of our sales team through metrics like lead conversion rates, quota attainment, and customer satisfaction scores. Regular financial analysis, including revenue forecasts and profit margins, helps us assess our financial health and make necessary adjustments.
For operational efficiency, we track inventory turnover, order fulfillment rates, and supply chain performance. These metrics identify bottlenecks and inefficiencies, allowing us to maintain a smooth workflow. Data analytics tools provide real-time insights for proactive decision-making.
Customer feedback and engagement are also crucial. Understanding customer needs and satisfaction levels helps us tailor our offerings and improve service quality. Regularly analyzing customer feedback ensures we remain responsive and adaptable.
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Josiah Go is the chair and chief innovation strategist of Mansmith and Fielders Inc. Join Beth Dureza and three other senior sales professionals in the 4th Mansmith Sales Summit on Aug. 2, 2024. For more details, https://www.salessummit.com.ph
