BrokerBin Case Study: Memory.NET

"We grew our revenue from $900K to $18M in four years. Our engagement on BrokerBin definitely helped us do it."

In 2019, Memory.NET was named the 219th fastest growing company in the United States, third fastest growing company in the Computer Hardware category, by Inc. 5000.?

“We went from $933,000 to $3.7 million to $10.4 million to $18.7 million in revenue in just four short years,” says Mike Johnson, President.? “Yes, Scott Bauer does an excellent job with our online position, and yes, God has blessed us tremendously, but the visibility that BrokerBin gave us definitely propelled us and helped us achieve the success and recognition we did.”

Since then, the company has continued to hit record revenue numbers, even amidst major disruption and challenges presented by the coronavirus pandemic.? They were fortunate to earn nearly $34 million in 2021.

Memory.NET’s success relies on constant attention to detail, customer satisfaction, and an intentional focus on relationship engagement and management.? Mike, along with his business partner, Scott Bauer, and their team have found that BrokerBin is an effective and inexpensive tool that helps grow their business.? Paired with attending the Roadshow events, its value is magnified even more.

“Smart businesses expand their footprint in down markets, and what better way to expand your footprint than to become more visible to your peers.? BrokerBin is a platform of your peers that helps keep you in front of existing and potentially new customers and suppliers.”

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Starting out on BrokerBin

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Memory.NET joined the BrokerBin community in 2015.? Mike and Scott didn’t know what to expect, but they decided to try it to see what happened.?

They completed their Company Profile.? They entered their top part numbers to search pricing and availability.? They listed their inventory.? They replied to RFQs.? They even initiated conversations with other members to introduce themselves and learn about their companies.

“When we were new to the platform, we were blown away with opportunity, both on the vendor side and on the customer side,” Mike recalls.? “Along with our online presence, we were picking up a dozen or more quality customers and/or vendors every week.”?

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Year-over-year growth

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Then in 2017, Mike and Scott attended their first Roadshow event in Las Vegas.? They were amazed at the energy in the meeting room and how well organized the event was operated from the registration process to the meeting scheduler to the social events.? At the next Roadshow in the spring of 2018, Memory.NET signed on as a Tabletop Sponsor.? Mike and Scott deem it so valuable they have not missed a Roadshow yet.

“When we started going to the biannual Roadshow events, we experienced another explosion of business in the form of developing and nurturing high-value relationships.? Over time, the relationships formed at the Roadshows have brought new revenue and new buying opportunities for us.”

Over the years, Memory.NET took on the roles of ‘Buyer’ and ‘Seller’ doing regular business with the customers and vendors Mike and Scott first met when they joined BrokerBin.? Scott continued to build engagement on the platform by adding the Real-Time Inventory (RTI) feature, which syncs Memory.NET’s internal inventory management system with their BrokerBin account.? RTI streamlines inventory management by automatically updating inventory listings on BrokerBin.? It also increases visibility.

“We had no idea that BrokerBin would become such an integral part of our business.? The impact was even more pronounced when we added RTI.? What RTI does is it makes our millions of dollars of inventory more visible to buyers around the world in search results every day.? It eases a pain point for the buyer by confirming the product is in stock today and can ship that same day.? It prompts customer engagement as buyers reach out to inquire about our stock.? And it’s an inexpensive way to have more conversations with more customers.? If you're a true stocking vendor, you'd be foolish not to have RTI.”

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Forming key Roadshow relationships

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Mike recalls one key relationship that started at a Roadshow years ago.? A representative from a Fortune 500 company stopped by the Memory.NET table to introduce herself.?

“We didn’t even have a meeting scheduled, she just stopped by! No business took place at the time.? Six months later, because she remembered us and kept our business card, this company placed a small order with Memory.NET.”?

At the next Roadshow, three more reps from this company came by the Memory.NET table.? A few more small deals followed.? Then, the third year, they came by again and a more serious conversation took place.? That led to doing business at least twice monthly ever since.

“That’s the power of what the Roadshow can do for your business if you lean in and consistently engage with attendees.? I really take the time, and highly suggest you do the same, to look up the companies that are going to attend to make sure they will be a good match. The ability to have 40 scheduled meetings in two days with people from around the world who work in your field is priceless.”

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Advice from one member to another

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Mike has found that BrokerBin isn’t just a trading platform.? Rather, it’s a global community of IT professionals.? Realizing success on BrokerBin has everything to do with relationship management.?

“Initiate conversations with BrokerBin members over the web, phone, and text.? Utilize the tools BrokerBin gives you.? Then, solidify those relationships by attending the Roadshows and having face-to-face conversations.? This approach builds trust.? It builds familiarity.? You’re developing a real, human-to-human relationship.”

BrokerBin has helped to propel Memory.NET’s growth over the years.? Mike believes these opportunities are there for other members too.

“Straight from the heart, if you utilize what the BrokerBin platform avails you, you will, guaranteed, increase your visibility.? And if you do what you say you’re going to do – have quality product, be competitive, offer good service, and attend the Roadshows and build relationships – you will see results.”

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About Memory.NET

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Memory.NET is a reliable source for all types of memory modules – from end-of-life DDR3 to DDR4 all the way to advanced 256GB DDR5 server modules.? They have a complete range of factory-sealed new, along with certified refurbished laptop, workstation, and server modules.? Product offerings from Memory.NET include leading brands like Samsung, SK Hynix, Micron, Cisco, Dell, HPE, IBM, Lenovo, Oracle, Supermicro, and more.? As a stocking distributor, Memory.NET provides almost immediate quote response times and same-day shipping.? An extensive and comprehensive in-house test lab ensures modules are guaranteed to perform as expected, with failure rates far below industry norms. Mike Johnson has owned memory companies since 1984, and Scott Bauer has over 20+ years’ experience in memory and SEO.

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