THE INS AND OUTS OF RETAIL EXECUTION
What is Retail Execution?
There are many definitions of retail execution; to put it simply it’s how a company enables the execution of in-store activities by a field sales team to ensure their products are presented and positioned in accordance with the company’s go-to-market strategy.
Why is Retail Execution Vital for Your Success?
When it comes to retail execution, CPG companies are still struggling at the shelf. In order to rise above the competition, companies should invest in technologies that enable their sales team to “sell more.”
It is vital for your company to know that in order to sell products in stores effectively, retail execution needs to be at its best to achieve the perfect store. Consumer goods companies are also discovering that flawless retail execution is no longer enough. To achieve an advantage in the crowded retail landscape, companies need to be able to have data and analytics at their fingertips to do more, know more and sell more than competitors – across every retail channel, in every store, every day.
Companies adopting this approach to optimizing their perfect store processes are winning at the shelf by:
♦ Providing the technology and tools to streamline and simplify retail execution
♦ Communicating and aligning field reps with the vision and goals for each store
♦ Guiding reps with the steps and best practices to achieve their store targets
♦ Empowering field reps with the data and tools to engage store managers with valuable information
What key capabilities should you look for when evaluating for a retail execution solution?
1. RAO – Retail Activity Optimization
RAO allows reps to take a more refined approach to their territories and store visits. Use POS data to determine which stores reps should visit first to deliver the greatest return on resources. Review POS data before arriving to the stores, to set a plan of what are the most important tasks to perform in the store before you go.
2. Image Recognition
Gain a 360-degree view of products, as well as competitor companies’ products, to move from 70% to 96% accuracy when conducting a digital audit. Take and upload store photos to be analysed in minutes, increasing rep productivity and providing management with faster, more accurate data on their distribution, out-of-stocks, Share of Shelf (SOS) and compliance.
3. Guided Selling
Use branching logic and fact-based data to give sales reps directions for their in-store and selling activities during retail execution. Launch customized pitches, calculate potential profits, display store rankings and play promotional videos with StayinFront PitchBook®.
Motivate and incentivize sales reps and your field force with gamification which provides reps with drive to keep up with tasks, and not fall behind on their goals. Studies show that incorporating gaming techniques, such as leader boards, can motivate reps to work quicker, stay on task and keep their eye on the goal.
5. Augmented Reality
Enable field teams to stimulate point of sale materials in real size, real store and in real-time. Access visualization of images, such as displays, which will help understand the appearance and fit.
How StayinFront Can Help
StayinFront applications enable reps to target the right stores, schedule their day easily using mapping tools and effectively plan their route. Using StayinFront TouchCG® on an Android or iOS mobile device, field representatives can call on more stores and complete more tasks in each store visit. StayinFront Touch Portal® helps reps do more in store with advanced features like image recognition to speed audits, barcode scanners that streamline up data entry and advanced filtering tools so the rep sees only what they need to see, which ensures focus on the right activities.