As part of Print & Promo Marketing’s 2023 Top Distributors list, we asked some of the top-ranked distributors about how they managed to continue their growth throughout the uncertainty that has still loomed over 2021 and 2022.
Read on as Dan Clarkson, CEO of MSP Design Group, which ranked No. 47 on the Top Distributors list, details what economic factors the company is paying attention to for the future, and how the company used its creativity to navigate the COVID years.
MSP Design Group, Virginia Beach, VA, acquired Troy, Virginia-based distributor Bright Ideas last year, and CEO Dan Clarkson says that certainly helped their huge growth year-over-year.
But it was what the company chose to focus on in addition to their M&A strategy, like new markets and adding new salespeople, that really made the difference.
How They’re Keeping Up Momentum
MSP’s 2022 sales topped $31,276,414, after reporting just shy of $20 million in 2021. Clarkson says that the goal is to maintain that growth into next year, too.
“MSP Design Group thrives where creativity meets results,” Clarkson says. “We are very optimistic going into 2023 focusing on providing new solutions and value to our customers.”
What They’re Looking At
Things have leveled off to a degree, and businesses are at least used to those “new normals” that came about in 2020, but there are still steps that they need to take all the time to make sure they’re doing what’s best for their customers and their bottom line.
Part of that means adapting their strategy to how their customers in certain verticals can spend their marketing dollars, if at all.
“The uncertainty of the current economics is something that we all need to pay attention to,” Clarkson says. “We are seeing some companies in specific verticals cutting budgets based on current market conditions. While there are certain realities to manage, we are confident in our team and our ability to assist our client partners to achieve success, even if some segments of the global economy are challenged.”
