Monthly Newsletters

Marketing Service Provider

AFFORDABLE MARKETING PROGRAMS DESIGNED FOR THE SALES REP

We are excited to introduce the most recent addition to the NEMRA Service Provider portfolio, StrategicX Marketing.

With a focus in the electrical industry, StrategicX is a full service B2B marketing agency that will develop straight forward marketing programs and materials to help you save time and grow revenue.  All work is on a project by project basis, requiring no contracts.

Services offered include:

  • web site development
  • sales tools and literature creation
  • trade show support and booth design
  • digital and print advertisements
  • logos and branding
  • new product rollouts
  • marketing automation
  • lead nurturing programs
  • press releases
  • technical writing

Looking for support in preparing for NEMRA20?  Contact the StrategicX team for guidance or development of line cards, presentations, graphics and more. Phone number (561) 859-7522 | email jen@startegicxagency.com


Financial Service Provider

KEY EMPLOYEE PLANNING

Key Employees can be categorized as follows:

  1. Key person who helps in growth and revenue but never will be an heir apparent
  2. Key Person who helps in growth and revenue and can be groomed to be an heir apparent
  3. Key Person who helps in growth and revenue and is the heir apparent

In a previous newsletter, we review the process of developing a buyout plan.  BUT your buyout or Succession plan is only as good as the key people behind you.  Therefore it is imperative to develop what we call R.I.S.K. Management (Retention, Incentive and Succession of Key People) Plan so that when you do retire, die or become disabled there actually are key people whom you have Retained, provided an Incentive to stay and developed into a Succession plan with Key People.

In your R.I.S.K. Management,  the first thing you should have completed is an interview with your business advisor with the key people.  This is crucial as the advisor should be able to asses and compare what they view as a key person 1,2 or 3 with what you perceive to be 1,2 or 3.  After that is completed than the strategies are developed utilizing some of these strategies:

  • Stock
  • Stock Options
  • Deferred Compensation
  • Split Dollar

In category 1, the plan should be an incentive based bonus plan that gives an incentive to grow the incentive bonus dollars but has a vesting schedule on it to retain them.  For category 2 there should be a plan where any incentive bonuses would eventually be used as a down payment for the agency and if they leave prior to your exit you would get the unvested amount back. Category 3 would pertain to just putting together the buyout agreement now.

Please feel free to reach out to T.I.P.S. 4 Reps for any questions or a complimentary consultation on Key Employee Planning.


Legal Service Provider

SIGN UP! COMPLIMENTARY LEGAL CONSULTATIONS AT NEMRA 2020

SCHOENBERG FINKEL NEWMAN & ROSENBERG, LLC

The 2020 NEMRA Conference (January 29-February 1, 2020) is just around the corner.  Gerald M. Newman, Esq. who advises NEMRA members on legal issues will be available throughout the Annual Conference to meet with attendees for a complimentary 20-minute private consultation on Sales Rep or corporate legal matters.

Please schedule your appointment directly with Gerry at (312) 648-2300 Ext. 309 or via email at Gerald.Newman@sfnr.com

Gerry has over 50 years of experience in handling unique legal issues that confront independent sales representatives and their principals – you cannot afford to miss this valuable conference benefit.

For the latest information on the Annual Conference, go to www.NEMRA.org

For general conference questions, please contact nemra@nemra.org


Technology Service Provider

ERP SYSTEM FOR NEMRA AGENTS

While Electrical Manufacturers Representatives are an “extension” of the manufacturers they represent they are also independent businesses, each with its own structure and personality.  Having an ERP System, designed for Representatives, would enable them to focus on and to promote their companies’ strengths.

The TTS Platform, by Tradetech Solutions, can be the ERP System for Electrical Manufacturer Representatives because it has been developed by Electrical Manufacturers Representatives.  The design and functionality are 100% based on our industry and not a “one size fits all” software.
Imagine:

  1. Quotation reports with “all” manufacturers activity, allowing you to fully understand what the customer is to your company, not just manufacturer by manufacturer.
  2. Accessing sales data when it happens – not 30 – 60 days after, when you receive sales reports from your manufacturers.
  3. Referencing call frequency reports that speak to, and substantiate, your activities and support of distribution when your distributors say “We never see anyone from your company”.
  4. Evaluating your activity with those customers who have not supported you but continue asking your team for quotations.  With the TTS Platform you will have “real” data to back up your strategic decision at these customers.
  5. Your team accessing the same “live” data from within your office or on the road.

The TTS Platform is the only “All-In-One Software Solution” and the “First” full ERP system dedicated to the Electrical Manufacturers Representative.

Take advantage of all 5 modules or what fits your needs: Quotations, Total Order Entry, CRM, Sales Analysis and Marketing. User-Friendly, Intuitive User-Interface, Ease of Navigation and an Integrated Pipeline management results in more efficient and effective sales strategies.

TTS provides in-house training and setup with software sign up. Click here for more information or call 617-797-4956 today for a demo.


NEMRA NEWS & EDUCATION

NEMRA is now on Facebook – Follow us here for the lasted NEMRA updates and industry News.


Click here for latest NEMRA20 updates


Have you seen the Presidents Message. Hear from Jim Johnson here.


Catch-up On Previous Newsletters Here

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