The Retail Execution Race to Sell MoreWhen it comes to retail execution, CPG companies are still struggling at the shelf. In order to to rise above the competition, companies should invest in technologies that enable their sales team to “sell more.”
According to the latest POI Vendor Panorama, despite all the advancements in retail execution technology, about 75% of the survey’s respondents aren’t using capabilities that enable their sales reps to sell more.
The Race is Heating Up.
With Amazon encroaching further on retailers, private labels seeing a surge in sales and the Aldi/Lidl war heating up in America, it’s now more critical than ever for brands to step up their retail execution game and carve out their spot on the shelf and in the carts of consumers.
Some of the key capabilities POI recommends companies should look for when evaluating for a retail execution solution are:
- Retail Activity Optimization (RAO) – POS data that determines which stores reps should visit to save time and drive the greatest ROI
- Image Recognition – Taking a picture of a shelf that can be uploaded and analyzed to determine compliance and return KPIs on shelf performance
- Guided Selling – Using branching logic and fact-based data to give sales reps directions for their in-store and selling activities
- In-flight Analytics – Insights about performance and opportunities that can be utilized by sales reps online or offline
Getting More Value from Your Field Force
During store visits, most reps will complete the standard merchandising tasks and conduct audits and compliance checks. Many don’t have the time, information or guidance to spend looking for additional selling opportunities or engaging the store manager in a discussion on ways to generate more revenue.
To truly be competitive, sales reps need to be able to complete the routine tasks faster, easily access information about the store’s performance and deliver targeted sales pitches on the spot. Intuitive, fully integrated solutions for digital merchandising, real-time dashboards and KPIs, guided workflows with alerts, and dynamic fact-based selling tools, enable field reps to do more, know more and sell more on every store visit.
In race to win at the shelf, every bit of competitive advantage counts. So, to paraphrase Dale Hagemeyer of POI, “If your retail execution solution does not deliver ’sell more’ capabilities, why spend are the money?”
StayinFront is honored that our consumer goods solutions have been named Best in Class for Mobile UX, Analytical Insights, Coaching, Guided Selling and Interactive Customer Presentations in POI’s 2017 Vendor Panorama for Retail Execution and Monitoring in Consumer Goods.