2012 Inaugural Event Recap + Looking Ahead

Moving the electrical industry forward, through collaboration, innovation & collective learning

“By embracing collaboration, innovation

and collective learning, we can raise the

entire industry up – positioning all of us to

achieve more.”

Changes are coming from all directions – including new economic realities and technological advancements.

These shifts also present an opportunity for us to reassess how we work together for the betterment of the industry as a whole. By embracing collaboration, innovation and collective learning, we can raise the entire industry up – positioning all of us to achieve more.

That spirit of togetherness and shared experiences provided the foundation for an ongoing industry discussion that officially launched on March 21. Forty forward-thinking manufacturers, distributors, reps, electricians, trade association representatives and media came together to reflect on the electrical industry’s current state, existing challenges, emerging technologies and future opportunities. Dubbed the Innovation Roundtable, this meeting was just the beginning of a much-needed discussion.

The Big Takeaway

Collectively, our industry is functioning like an old wheel with six spokes of varying lengths – hence the bumpy ride we’ve all experienced the past few years. To excel in today’s world, the industry needs to “sync up” – getting each spoke in the wheel working "at the same length" to create a smoother way forward. (Thanks to

SuperRod’s Malcolm Duncan, who joined us from United Kingdom, for that analogy)

The Innovation Roundtable covered a wide range of topics Interestingly, whether the topic centered on partnerships, customer service or industry landscape, the discussions always came back to

emerging technologies – namely how social media, mobile opportunities and technology-driven interactions will change the way business gets done.

The following provides an overview of the topics discussed, ideas formulated and conclusions drawn. While this Roundtable was highly productive, it’s just the beginning. .

Local Market Value Remains Strong

Our manufacturers create a range of products – some commodity, some specialized. In fact, as one Innovation Roundtable participant noted, some of the products sold by reps and

Moving the electrical industry forward, through collaboration, innovation & collective learning

“Electrical industry innovation

improves the economy, creates jobs and

provides the foundation for

generations to come. ”

Innovation Roundtable Recap + Looking Ahead

distributors could be bought on eBay or other online marketplaces.

So, what prevents people from embracing eBay and remaining loyal to their local reps? Relationships. Service. Problem-solving. A “do whatever it takes to get the job done” mentality. These intangibles are found only in person-to-person relationships … not online transactions. A high level of service and industry-specific knowledge should continue to support the local supply channel; however, as technology advances, that could change. The challenge then becomes quite clear: How do we keep our customers by providing value-added services and experiences? As in, things you can’t find on eBay?

Relationships & Integrity: Building Blocks for Strong Partnerships

While partnerships aren’t anything new, these win-win relationships are taking center stage in recent years. In fact, the word “partner” is so overused that it’s almost rendered meaningless.

But, take a step back to assess what it means to be a good partner and what you’re looking for in a partner. For example, one Roundtable participant identified listening and understanding as key components of a true partnership. As he explained, “we have to understand your business to be a good partner.” What’s important to you becomes important to us. After all, an effective partnership has to work for everyone involved.Meanwhile, another participant explained that he can deliver better solutions when he has access to all disciplines within an organization. If he can

sit down and understand the issues you’re facing, he can devise a solution that minimizes risk, reduces cost and improves safety.

When it comes to problem solving, relationships are critical. If a customer has a challenge, he/she

wants to work with a person – a salesman, a manager, etc. That human interaction is

vital to building long-term partnerships. While

relationships can be nurtured by digital communication, a solid relationship provides the foundation.

Interestingly, Roundtable participants noted a difference between “gatekeeper relationships” and actual partnerships. As one

participant put it, “If it’s a gatekeeper decision, we

know it’s going to be based on cost. We don’t put as much

effort into a gatekeeper relationship as a partnership.”

Stated another way, it’s not about the price. Partnerships focus on relationships and a high level of integrity.

Don’t Make Technology Mandatory. Make it a No-Brainer.

From millennials who grew up with technology, to savvy Gen Xers and Baby Boomers who have fallen in love with smartphones, social media and other tech-driven efficiencies, one thing is clear:

Introduction

Moving the electrical industry forward, through collaboration, innovation & collective learning

“From product development and sales

… to customer service and marketing

– technology shifts how

business gets done.”

Innovation Roundtable Recap + Looking Ahead

Technology is changing the way business gets done.

But, how does it permeate an organization and spread from a handful of passionate advocates to the entire workforce? As we discussed during a Roundtable breakout session, how do you connect with the people who like to read the morning paper and the people who prefer to get their news online? How do you disseminate the right information using the right channels?

It needs to be a “top-down” movement, according to participants from organizations that have fully embraced – and seen the benefits of – technology. Organizational leadership needs to welcome the advancements and show their team how they can increase productivity, efficiency and effectiveness. Simply put: As people begin experiencing the benefits and potential of technology, it spreads like wildfire. Once an individual embraces technology, they don’t go back.

That said, technology isn’t a silver bullet or a magical solution to fix the industry’s woes. One size – or solution – doesn’t fit all. Our workplaces are filled with three generations (at least!) of workers. We need to understand how to convey different messages via different channels.

Admittedly, this age gap can be nerve-wracking for older generations – people who have literally poured their livelihood into the company. But, we have to embrace change. After all, if we’re not prepared for millennials to advance, the industry will flounder when they assume management

positions. We need to focus on recruiting more young people into the industry. But, that’s not all. Once they join our ranks, we need to mentor them in preparation for a successful leadership transition.

Part of this drive toward more education is being led by the trade associations and publications. Both groups are leading by example – showing us how to incorporate emerging technologies and platforms to reach a broader audience, while still providing the highly focused, quality content that members and readers have come to expect. Through their leadership, our industry is experimenting with video, mobile and other forward-thinking communication opportunities.

Technology + Customers: A Changing Relationship

We all agree that technology infuses a new level of efficiency into our industry. It’s improving product development, operations and logistics, and internal and external communication. But there’s one technology touch point that we’re still trying to ascertain: Customer communication.

Is technology taking us away from customers? Are our relationships less meaningful or deep because we’re relying on email, Skype or LinkedIn to interact with prospects and customers? Not necessarily. Technology will never fully replace face-to-face communication. After all, when you’re buying packaging or lighting, it’s still

Moving the electrical industry forward, through collaboration, innovation & collective learning

Innovation Roundtable Recap + Looking Ahead

“Social mediagives us the

tools to create meaningful

dialogue with customers and stakeholders.”

“Despite all the technological

advancements, the need for quality

communication and strong

relationships is at an all-time high.”

helpful to sit across a table to negotiate, right? Similarly, a customer’s confidence in a product doesn’t come from reading about it online or seeing a picture; it comes from holding the product in their hands and testing performance.

That said, we should realize that customers are busy, too. So much so that they appreciate when you act faster or respond quicker. There’s still a time and place for a two-hour meeting; however, those occurrences are fewer and farther between.

One Roundtable attendee explained that their company’s sales force is regularly using Skype. How does that work? Let’s say a foreman on a job has Skype and you want to introduce him or her to an inside salesperson. Ping the foreman on Skype, and just like that, you’re making a “face-to-face” sales call from 50 miles away, without spending hours in your car fighting traffic. Plus, technological advancements are eliminating unnecessary emails, phone calls and faxes – something we can all get excited about.

Technology can improve customer services, automate processes and educate consumers. But, it’s not a one-size-fits-all solution. Perhaps the biggest takeaway from the Innovation Roundtable

was this: Emerging technology makes things easier and faster, but don’t ever underestimate the value of relationships and in-person contact.

And Speaking of Relationships …

The Innovation Roundtable kicked off at the 2012 Electro Expo, but that was just the first step. We’ve also launched a LinkedIn group to foster ongoing relationships and continue the dialogue. We plan to announce the next in-person Innovation Roundtable meeting in the coming months. Until then, we hope you’ll seek ways to innovate, learn and teach – embracing this collaborative spirit needed to elevate the entire industry to the next level.

Moving the electrical industry forward, through collaboration, innovation & collective learning

Innovation Roundtable Recap + Looking Ahead

“Fight “information overload” by

delivering information where, where

and how customers want it.”

If you’re interested in being part

of a future get-together, contact

Madison Electric Products’ Rob

Fisher (rfisher@meproducts.net)

Moving the electrical industry forward, through collaboration, innovation & collective learning

Innovation Roundtable Participants